CRI Report has released a report titled “Potassium Sorbate Market – Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” which is anticipated to reach USD 412.98 million by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 4.3% between 2020 and 2030. According to the report, this growth is anticipated due to increasing mergers and acquisitions across various sectors which will create a worldwide demand for Potassium Sorbate. Its widespread use in the food industry is due to the fact that it has no impact on the taste, color, or smell of food while also protecting it from decomposition, which is fueling demand growth in the near future.
The market report on global Potassium Sorbate Market includes in-depth insights as:
- The estimated value of the market was USD 198.72 million in the year 2020.
- Global Potassium Sorbate in APAC held the largest market share in the year 2020.
- Global Potassium Sorbate market is segmented by type into Sorbic acid, Potassium hydroxide, and Others.
- Global Potassium Sorbate market is divided by application into Food, Oils & Fats, Bakery & Confectionery, Dairy & Frozen Products, Snacks, Meat, Poultry, & Seafood, Beverages and Others.
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
“The explosive growth of the wine industry would almost certainly provide an opening for the potassium sorbate market. Because of the emergence of customers who are well aware of beauty products and hygiene, the personal hygiene and beauty products industry has seen explosive growth in recent years. The rapid growth of the beauty and hygiene industry would spike the market of potassium sorbate in the years to come. Coating metals and woods with the chemical is common. It is used as a coating on metals to avoid internal injuries that occur over time. It also protects the wood against fungi. As a result, this chemical has a diverse range of applications and end-users, which has an effect on the global potassium sorbate market’s organic spread”, said a lead analyst at CRI Report.
Potassium sorbate is a salt or chemical that is used as a preservative in food and drinks, as well as an industrial chemical and a form of a solution in personal care products. Potassium sorbate demand is mainly increasing in the food industry, with a higher demand for preprocessed foods. It is used as a preservative to prevent food from spoiling and its primary role is to prevent the growth of bacteria, microbes, mould, yeast, and other microorganisms on food and beverages. In comparison to sorbic acid, potassium sorbate is very water-soluble. Potassium sorbate is commonly used in the manufacture of sweet white table wines, baking products, and a variety of other products. The potassium sorbate market is expected to rise due to rising demand for confectionery, dairy, and frozen goods, as well as meat and seafood.
Global Potassium Sorbate market is divided by application into Food, Oils & Fats, Bakery & Confectionery, Dairy & Frozen Products, Snacks, Meat, Poultry, & Seafood, Beverages and Others. Over the forecast period, the Food segment is projected to expand at the fastest pace. The rise in demand for the processed food and feed industry is also contributing to market growth. By preventing the growth of moulds, yeasts, and fungi in food, sorbates help to prolong the shelf-life of the products. Sausages, yogurt, confectionery, lemonade, cheese, rye bread, cookies, pizza, shellfish, lemon juice, wine, cider, and soups are some of the foods and beverages that use sorbates.
Key Players in the Market
- Some of the key players operating in the global Potassium Sorbate Market are Celanese, FBC Industries, Bimal Pharma, Tianjin, Chemical Industry, Ningbo Wanglong, Eversprings Industries, Veckridge Chemical, BKM Resources, Global Chemicals, and Other Prominent Players
Get Valuable Insights into Global Potassium Sorbate Market
In the new report, CRI Report thrives to present an unbiased analysis of the global Potassium Sorbate Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. Global Potassium Sorbate market is segmented by type into Sorbic acid, Potassium hydroxide, and Others. Global Potassium Sorbate market is divided by application into Food, Oils & Fats, Bakery & Confectionery, Dairy & Frozen Products, Snacks, Meat, Poultry, & Seafood, Beverages and Others. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.