Sodium Propionate Prices

Sodium Propionate Prices June 2024

The sodium propionate prices in the China for Q2 2024 reached 1230 USD/MT in June. The market saw a decline in costs driven by a slowdown in demand and substantial stock levels. Seasonal factors, such as reduced shelf life during the summer, prompted providers to sell off excess inventory at lower charges. The reduced global requirement for Chinese exports further exacerbated the price drop. Despite lower prices, the market faced no significant supply disturbances, preserving a steady flow of products.

Sodium Propionate Prices December 2023

The sodium propionate prices in China for Q4 2023 reached 1,185 USD/MT in December. The market saw an upward trend driven by strong local and international demand, leading to restrained supplies. Higher manufacturing costs due to labor scarcities and increasing freight expenses further impacted the market outlook. However, by year-end, an oversupply situation combined with falling raw material costs began to slightly ease prices, offering some relief to market players.

Regional Coverage

The report provides a detailed analysis of the sodium propionate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the sodium propionate price trend. 

Global Sodium Propionate Price

The report offers a holistic view of the global sodium propionate pricing trends in the form of sodium propionate price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into sodium propionate historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into sodium propionate price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed sodium propionate demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Sodium Propionate Price

Q2 2024:

Due to global supply chain interruptions, inflation, and economic uncertainty, the sodium propionate market in Europea saw sharp price drops in Q2 2024. These elements led to an excess of products, with surplus stocks and decreased requirement from sectors such as food production and manufacturing. Suppliers responded by offering discounts, which further pushed prices down. Lower raw material prices and stabilized transportation costs also contributed to the decline. Destocking initiatives and weak seasonal interest strengthened the perception of a bear market, resulting in a steady price correction. Despite supply chain issues, there were no important plant closures, and operations continued without significant disruption, although market sentiment remained negative due to disparities between supply and demand.

Q4 2023:

Europe encountered price swings in Q4 2023, driven by rising consumption in the downstream industry. Europe's role as a crucial importer subjected it to increasing export costs, which shaped local pricing trends. Elevated freight expenses complicated market conditions, raising the cost of shipments. As businesses worked to replenish their inventories through bulk purchases, the market remained tightly balanced. Trade developments between Europe and China, along with improved maritime logistics, played a crucial role in moderating costs during this period. In the year end, the market saw a reversal of price trends as destocking efforts took effect, clearing out existing stock ahead of the new year and easing pressures on supply chains during the holiday season.

This analysis can be extended to include detailed sodium propionate price information for a comprehensive list of countries.

North America Sodium Propionate Price

Q2 2024:

Prices for North American sodium propionate increased significantly in the second quarter of 2024 as a result of calculated actions taken by major market participants who made sizable purchases to satisfy increasing requirement. Higher primal matter costs, for propionic acid especially, in important exporting locations were the main cause of this price increase. A major importer, North America, changed its prices to continue to be competitive. Supply chain issues were made worse by cross-border issues and business problems, which increased shipping costs and resulted in order cancellations. Examples of these disruptions included shipment delays and route adjustments via the Cape of Good Hope. Price pressure was further increased by environmental issues, such as NOAA's warnings about possible congestion in the Mississippi River.

Q4 2023:

The market in North America experienced notable price volatility. Rising domestic consumption across key downstream industries fueled a surge in prices, while its reliance on imports exposed the market to external cost pressures. The influence of new trade duty between China and the United States, alongside improvements in shipping conditions, significantly impacted price trends. However, elevated freight expenses kept the market on edge as suppliers faced increased transportation costs. Inventory restocking efforts contributed to price resilience, further complicated by congestion at the Panama Canal. By year-end, destocking helped alleviate pricing pressures as companies prepared for fresh inventories..

Specific sodium propionate historical data within the United States and Canada can also be provided.

Middle East and Africa Sodium Propionate Price

The report explores the sodium propionate pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on sodium propionate prices for countries can also be provided.

Asia Pacific Sodium Propionate Price

Q2 2024:

Reduced end-user demand and excessive stock levels caused a price fall in the sodium propionate market in Asia Pacific, especially in China, in Q2 2024. The price of sodium propionate decreased as a result of lower manufacturing costs brought on by a decline in propionic acid pricing. Stabilizing the supply chain also involved lowering transport and operational expenses. In China, seasonal variables including shorter shelf life in the summer caused sellers to sell off excess inventory at a discount. Weak demand and a decrease in Chinese exports intensified downward pressure on prices. Despite these challenges, the market maintained a stable supply chain with no major disruptions or plant closures, although demand remained subdued.

Q4 2023:

In the Asia Pacific region, the market saw a variety of factors driving its dynamics during quarter four of 2023. Strong local and overseas demand, boosted by growing consumer spending, tightened supply and pushed prices upward. The effects of increased production and freight costs were compounded by labor scarcities in key industries like manufacturing and agriculture, forcing companies to raise wages and operational expenses. Market participants moved quickly to stock up inventories, creating further pressure on the market. Despite this, as December approached, a surplus of sodium propionate and falling raw material costs, particularly in propionic acid, led to a modest easing of prices. These shifts highlighted the delicate balance between supply, demand, and operational challenges across the region.

This sodium propionate price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Sodium Propionate Price

The analysis of sodium propionate prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Sodium Propionate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Sodium Propionate Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of sodium propionate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of sodium propionate at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of sodium propionate price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing sodium propionate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Sodium Propionate Market Analysis

The global sodium propionate market size reached US$ 51.3 Million in 2023. By 2032, IMARC Group expects the market to reach US$ 97.9 Million, at a projected CAGR of 7.50% during 2023-2032.

The rising demand for food preservatives represents one of the key factors in the growth of the market across the globe. According to IMARC estimates, the global food preservatives market is expected to reach US$4.3 billion by 2032, with a compound annual growth rate (CAGR) of 3.8% from 2024–2032. As global food production and distribution increases, the need to extend shelf life and maintain food safety standards is boosting the demand for effective preservatives such as sodium propionate.

• The increasing consumption of processed and packaged foods, especially in urban areas and developing economies is contributing to the growth of the market. As per UNCTAD and the World Health Organization's trade matrix of processed food, global trade in processed foods grew by 350% from 2000 to 2021, reaching $1.7 trillion. Developed economies import more processed foods (48% of total food imports) compared to developing economies (35%). This trend necessitates the use of preservatives to ensure the longevity and safety of these products, which is propelling the market growth.
• The growing awareness among consumers about food additives, along with the rising preference for products with longer shelf lives without compromising on safety or quality is also contributing to the growth of the market.
• Sodium propionate is approved and recognized as safe by major regulatory bodies, such as FDA and EFA. This acceptance facilitates its widespread use in the food industries and encourages manufacturers to incorporate it into their formulations.
• The growing food and related industries are facilitating the market growth. According to the data from The US Department of Agriculture, agriculture, food, and related industries contributed roughly dollar 1.420 trillion to US gross domestic product (GDP) in 2022, a 5.5% share.

Sodium Propionate News

The report covers the latest developments, updates, and trends impacting the global sodium propionate market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in sodium propionate production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the sodium propionate price trend.

Product Description

Sodium propionate refers to the sodium salt of propionic acid with the chemical formula C3H5NaO2. It appears as a white, crystalline solid or powder and is soluble in water. This compound is extensively employed as a food preservative under the E number E281. The primary function of sodium propionate is to inhibit the growth of mold and some bacteria, thereby extending the shelf life of various food products such as cheeses, baked goods, and confections.  It works by disrupting the metabolism of mold and bacteria, which prevents their growth and proliferation. Sodium propionate is particularly effective in acidic conditions, thus making it a suitable preservative for products with a low pH. It is generally recognized as safe (GRAS) by regulatory agencies such as the US Food and Drug Administration (FDA) and European Food Safety Authority (EFSA) due to its low toxicity and minimal side effects.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of sodium propionate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting sodium propionate price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The sodium propionate price charts ensure our clients remain at the forefront of the industry.