The global propyl gallate market revenue was around US$ 295.8 million in 2022 and is estimated to reach US$ 533.3 million by 2031, growing at a compound annual growth rate (CAGR) of 6.8% during the forecast period from 2023 to 2031.

Propyl gallate is an organic chemical compound. It is made from the condensation process of propanol and gallic acid. It is odorless, crystalline, white, and highly soluble in water. It is an excellent source of antioxidants, due to which it is extensively utilized as a food additive.

Factors Influencing Market Growth

- Propyl gallate is an excellent source of antioxidants due to which it is utilized to control the oxidation of oils and fats including food. This is anticipated to drive the growth of the propyl gallate market in the chemical industry.

- The habitual usage of propyl gallate may have side effects on human health like dermal sensitizer, irritation to the skin, and irritation in the eyes. These factors are hindering the growth of the propyl gallate market.

- The rapid increase in population in both, developing and developed economies, increased export and import of different skincare and cosmetics products, and expanded focus on the cosmetic sector have boosted the demand for propyl gallate. These factors are expected to offer lucrative opportunities for the propyl gallate market during the forecast period.

Impact of COVID-19

The growth in demand for processed food and medical-grade products has improved the demand for propyl gallate as a food additive and antioxidant amid the COVID-19 pandemic. Also, the market propyl gallate experienced an increase in growth due to the rise in demand from the food industry, cosmetics, pharmaceutical, and personal care sectors.

Regional Analysis

In 2022, Asia-Pacific dominated the propyl gallate market in terms of revenue and is anticipated to grow at the highest growth rate during the forecast period. The region is showcasing high potential development for propyl gallate because of the rise in the pharmaceutical sector where propyl gallate has been utilized mostly. It is mainly utilized as an antioxidant in the formulation of different vitamin A, essential oils, drugs, and others. This acts as one of the key drivers accountable for the growth of the propyl gallate in the region.

Leading Companies

The leading prominent companies profiled in the global propyl gallate market are: -

- 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 America
- Veeprho Group
- Wufeng Chicheng Biotech Co., Ltd.
- Other prominent key players

Segmentation Outline

The global propyl gallate market segmentation focuses on Grade, End-Use Industry, and Region.

Segmentation based on Grade

- Industrial grade
- Pharmaceutical grade

Segmentation based on End-Use Industry

- Food Industry
- Personal Care and Cosmetics
- Adhesives
- Lubricants
- Others

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa