In the first quarter of 2023, the price of sodium propionate in Asia and Europe saw an upward trend due to falling raw material costs and positive market momentum in the pharmaceutical sector. However, in the second quarter, the price trend declined in both regions as demand from downstream industries fell, along with uncertainties in the feedstock market. Europe also faced strict energy price regulations from the government. In North America, sodium propionate prices initially increased due to high pharmaceutical sector demand, but later dipped in the second quarter due to sliding demand, falling energy costs, and a weak global economy.
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Definition
Sodium propionate is a chemical compound represented by the formula C3H5NaO2. It is the sodium salt of propionic acid, and it appears as a white crystalline solid or powder. Sodium propionate is primarily used as a food preservative to inhibit the growth of molds and bacteria, extending the shelf life of various food products. It is also utilized in animal feed to prevent spoilage and maintain freshness. This compound is generally considered safe for consumption within regulated limits and has antimicrobial properties that make it valuable in preserving the quality and safety of food and feed items.
Key Details About the Sodium Propionate Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Sodium Propionate in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Sodium Propionate Price Trends, including India Sodium Propionate price, USA Sodium Propionate price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Sodium Propionate Price Trend:
Sodium propionate has several industrial uses due to its effectiveness as a preservative and antimicrobial agent. In the food industry, it is widely used to extend the shelf life of various products, including baked goods, dairy items, and processed meats, by inhibiting the growth of molds and bacteria. Additionally, sodium propionate finds application in the animal feed industry to prevent spoilage and maintain freshness in feed products for livestock and pets. It is also utilized in certain pharmaceutical formulations as a preservative to enhance product stability and prevent microbial contamination. Its safety, regulatory approval, and antimicrobial properties make it a valuable additive in ensuring the quality and safety of food and feed products.
Key Players:
- Fine Organics Industries Pvt Ltd
- Dr. Paul Lohmann GmbH & Co. KGaA
- Jainex Speciality Chemicals
- Titan Biotech Ltd
- Qingdao Jiutai Biotechnology Co Ltd
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