Propyl Gallate Market Expected to Reach $533.3 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Propyl Gallate Market," The propyl gallate market was valued at $277.0 million in 2021, and is estimated to reach $533.3 million by 2031, growing at a CAGR of 6.8% from 2022 to 2031.

Propyl gallate is n-propyl ester of 3,4,5-trihydroxybenzoic acid and it is commercially prepared by condensation and esterification process, which includes propanol and gallic acid. It is an excellent source of antioxidant, preservative, stabilizer, and lubricant, due to which it finds application in various end-use industries, such as pharmaceutical, cosmetics, oil and gas, food, packaging, and others. It is also identified as ant quenching agent in fluorescence microscopy and food additive in food industry.

The wide range applications of propyl gallate in the food processing industry, chemical, laboratories, cosmetics, and many others are key market trends in the growth of propyl gallate market. In response to this, propyl gallate are generally used in the food processing industry as food additive and preservative. Gallate helps in preventing the oxidation reaction of oil and fats. These factors are expected to contribute to the growth of the propyl gallate market during the forecast period. However, rising concern regarding organic and healthy food in the food processing industry and growing consumer demand for natural additives containing packaged food are expected to affect the market growth for propyl gallate during the forecast period. These may negatively impact the growth of the global propyl gallate market.

The growing demand for industrial lubricants and adhesive is expected to boost the market in near future. In addition, extensive use of propyl gallate product in the research and development filed and formulation of various pharmaceutical drug, vitamins, essential oil, and others are expected to boost the market.

These factors together are projected to create remunerative opportunities for the expansion of the propyl gallate market during the forecast period. The propyl gallate market is segmented on the basis of type, end-use industry, and region.  By grade, the market is segregated into industrial grade and pharmaceutical grade. The industrial grade dominated the global market in terms of revenue in 2021, with 64% of the total share. Industrial grade comprises various products and equipment that are being used for industrial applications where propyl gallate is incorporated into items, such as conveyor belts as it prevents microbial growth while carrying material and goods.

In addition, it is widely used in the ice-making equipment and applied directly to HVAC (Heating, ventilation, and air conditioning) coils as an antimicrobial pesticide to prevent the growth of microorganism. This is anticipated to increase the demand for propyl gallate in industrial applications. Furthermore, propyl gallate is used as a material preservative in residential and public access premises and is used for delaying, retarding, or preventing the development of oxidative deterioration on industrial equipment. This is expected to act as one of the key drivers responsible for the growth of propyl gallate in the industrial grade segment.

By end-use industry, the global propyl gallate market is segmented into food industry, personal care and cosmetics, adhesives, lubricants, and others. The food end-use industry dominated the global market in terms of revenue in 2021, with 39% of the total share. The rising population across the globe, increase in the disposable income among people, and rapid shift in the consumer preference for packaged food have enhanced the performance of the propyl gallate market. This is projected to drive the growth of the propyl gallate market during the forecast period. Moreover, increase in the food processing activity has escalated the food packaging industry.

For instance, according to a report published by Ministry of Food Processing industry in August 2022, the contribution of the food processing sector increased continuously with Gross Value Added (GVA) in food processing sector from Rs.1.34 lakh crore in 2014-15 to Rs. 2.37 lakh crore in 2020-21 at a Compound Annual Growth Rate (CAGR) of 9.97%. Propyl gallate acts as an antioxidant, which prevents food containing oils and fats from spoiling. Additionally, it is also identified as a triplet state quencher due to its antioxidant’s property. In addition, growing demand for packaged food has driven the propyl gallate market. In response to this, FDA has approved that propyl gallate is non-toxic for human consumption, owing to which, it is used as food additive in the packaging foods. These factors are expected to enhance the propyl gallate market.

Region-wise, the propyl gallate market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific propyl gallate market is projected to grow at the highest CAGR during the forecast period. The region is showcasing high potential growth for propyl gallate, owing to increase in the pharmaceutical sector where propyl gallate has been used predominantly.

It is mainly used as an antioxidant in the formulation of various drugs, vitamin A, essential oil, and others. This may act as a one of the key drivers responsible for the growth of the propyl gallate in the region. In addition, the increasing demand for processed foods has surged the growth of the food industry in Malaysia and China where propyl gallate is used as food additive and antioxidant agent. For instance, data revealed by Wufeng Chicheng Biotech Co., Ltd., oil-soluble antioxidant containing propyl gallate products are allowed in China. China stipulates that the product can be used for edible fats, fried foods, biscuits, instant noodles, instant cooked rice, canned nuts, dried fish products, and cured bacon products. This factor is expected to enhance the overall demand for propyl gallate in the Asia-Pacific region.

Countries such as India and Japan have witnessed significant growth for propyl gallate in the food packaging, cosmetics, research, and laboratories. Propyl gallate is mainly used as triplet state quencher and anti-fade reagent in fluorescence microscopy to reduce photo bleaching of fluorescent probes, such as rhodamine and fluorescein. In addition, it is extensively used as an antioxidant in the growing cosmetics industry where it reduces the oxidation of oil containing skin care and personal care products.

Key players operating in the global propyl gallate market include, Alfa Aesar, Thermo Fisher Scientific, BASF SE, Gallochem Co., Ltd., Haihang Industry, HALOGENS, Impextraco, Kemin Industries, Leshan Sanjiang Bio-tech Co. Ltd., Merck KGaA, Minakem, Rexler, Sarex, TCI Ameirca, Veeprho Group, and Wufeng Chicheng Biotech Co., Ltd.

Key findings of the study:

• By grade, the industrial grade is anticipated to grow at highest CAGR of 6.9% in the forecast period and accounted for 64% of market share in 2021.
• By end-use industry, the food end user industry segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 7.2% from 2022 to 2031.
• By region, Asia-Pacific garnered the highest share of 40% in 2021, in terms of revenue, growing at a CAGR of 7.3%.