Sodium Propionate Price In China
- China: 1185 USD/MT
The price of sodium propionate in China for Q4 2023 reached 1185 USD/MT in December..
The latest report by IMARC, titled "Sodium Propionate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data" delivers a comprehensive analysis of Sodium Propionate prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Sodium Propionate Prices December 2023:
- China: 1185 USD/MT
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The study delves into the factors affecting Sodium Propionate price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Sodium Propionate Price Trend- Q4 2023
Sodium propionate is instrumental in ensuring food safety and reducing food waste, key concerns in today’s global food supply chain. By inhibiting microbial growth, sodium propionate helps maintain the nutritional quality and freshness of food products, making it a staple in the food preservation industry. The market for sodium propionate is witnessing growth driven by the rising demand for processed and packaged foods, especially in the context of increasing urbanization and changing consumer lifestyles. This trend is augmented by the food industry's ongoing quest for cleaner, more effective preservatives that can meet regulatory standards and consumer preferences for label-friendly ingredients. Innovations in food preservation techniques further bolster the demand for sodium propionate. Manufacturers are continually seeking solutions that can deliver enhanced efficacy and cost-efficiency, which sodium propionate provides. Moreover, the growing consumer awareness regarding food safety and the desire to minimize preservative intake without compromising food quality are shaping the development and application of sodium propionate. The adaptability of sodium propionate to various culinary needs, coupled with its regulatory acceptance in major markets, positions it as an essential component in the global food preservatives sector. Its integration into diverse food applications highlights its critical role and continued relevance in the food industry, supporting its sustained market growth across the world.
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. During the last quarter of 2023, the Sodium Propionate market witnessed significant price fluctuations across different global regions, influenced by a complex blend of supply chain dynamics, geopolitical tensions, and market demand factors. In North America, the price of Sodium Propionate initially surged due to increased domestic demand from downstream sectors such as food preservation and animal feed, which heavily utilize this preservative. This increase was further compounded by geopolitical events, including trade tariffs and military activities affecting key shipping routes like the Red Sea, which escalated shipping costs and created logistical challenges. These factors restricted the availability of Sodium Propionate and increased the cost of imports, especially from major producers like China. The congestion at the Panama Canal further exacerbated supply chain disruptions, leading to higher freight costs and delays in delivery schedules. These elements combined to drive up the prices of Sodium Propionate as market players rushed to secure adequate stocks to meet ongoing consumer demand, despite the rising costs.
Moreover, in the Asia-Pacific region, specifically China, the market dynamics were shaped by both internal and external demand pressures. The domestic economic boom and increased consumer spending heightened the demand for Sodium Propionate, tightening the market and pushing prices upward. The scarcity of labor in critical sectors also played a crucial role, as it led to wage increases and, subsequently, higher production costs. This scenario was mirrored by the increased costs of ocean freight amid ongoing global logistical challenges, making exports more expensive and less competitive. However, by the close of the quarter, a noticeable shift occurred as producers initiated destocking activities to clear out year-end inventories, leading to a temporary dip in prices. This price adjustment was also influenced by the falling prices of raw materials, such as Propionic acid, which alleviated some production cost pressures. These multiple factors demonstrate the volatile nature of the Sodium Propionate market, where prices are sensitive to shifts in supply chain efficiency, geopolitical influences, and the balance of domestic and international demand.
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Key Points Covered in the Sodium Propionate Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Sodium Propionate Prices
- Sodium Propionate Price Trend
- Sodium Propionate Demand & Supply
- Sodium Propionate Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Sodium Propionate Price Analysis
- Sodium Propionate Industry Drivers, Restraints, and Opportunities
- Sodium Propionate News and Recent developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand.
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece.
- North America: United States and Canada.
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco.
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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