Market Summary Of Potassium Sorbate Market:
The Potassium Sorbate market is poised to experience a 4.1% growth rate in terms of value from 2019 to 2027, reaching USD 373.3 Million. Potassium Sorbate, also known as K-Sorbate, is a colorless and partially hygroscopic crystalline potassium salt of Sorbic Acid. Its production involves the thorough neutralization of sorbic acid with high-purity Potassium Carbonate or potassium bicarbonate, followed by the crystallization process.
Recognized as a safe food additive by the European Union (EU) and the European Free Trade Association (EFTA), Potassium Sorbate is assigned the E-Number E202. It complies with the standards established by the Food Chemicals Codex, the United States Pharmacopeia, Japanese Pharmacopeia, and British Pharmacopeia for food-grade and pharmaceutical applications, adhering to specified limitations.
The global market is witnessing significant growth driven by the increasing demand for potassium sorbates in food preservation applications as a fungistatic agent. The expansion of the food and beverage industries directly influences the potassium sorbate market, with applications in various food-grade products such as fruits, vegetables, pickles, fruit juices, dairy products, syrups, jams, sauerkraut, and dried fruits. Additionally, its usage in pharmaceuticals and alcoholic beverages contributes to extended shelf life, with rising expenditures on food preservation propelling the market forward.
In 2018, the Asia Pacific region dominated the market, holding the highest market share. The rapid growth in the region is attributed to substantial demand for potassium sorbate in food and beverage products, coupled with the flourishing consumption of food and beverages. Key contributors to the Asia Pacific market include China and India.
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Companies considered and profiled in this market study
- APAC Chemical Corporation,
- Sorbic International PLC,
- Celanese Corporation,
- Wanglong Chemicals,
- Parchem,
- Jinneng Science & Technology Co. Ltd.,
- FBC Industries Inc.,
- Independent Chemical Information Service,
- Lubon Industry Co. Ltd.,
- Tengzhou Aolong Fine Chemical Co. Ltd.,
- among others.
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Key Report Coverage:
- Global potassium sorbate market statistics from 2016 to 2027, with 2018 as the base year.
- Market size estimation and trend analysis.
- Analysis of alternative types.
- Regulatory frameworks in each region.
- Upcoming research and application outlook.
- Ongoing developments status.
- Mapping of regional potassium sorbate prevalence.
- Demand and supply gap analysis.
- Pricing strategy of regional competitors.
- Market share analysis of top industry players.
- Strategic recommendations for new entrants.
- Market trends, including drivers, constraints, opportunities, threats, challenges, investment opportunities, and recommendations.
- Strategic recommendations in key business segments based on market estimations.
- Competitive landscaping, mapping key common trends.
- Company profiling with detailed strategies, financials, and recent developments.
Salient Trends of the Potassium Sorbate Market:
- Growing demand for potassium sorbate in various industry verticals, especially the bakery industry, for food preservation as an antifungal or fungistatic agent.
- Increasing industrialization and urbanization in the Asia Pacific, driving the need for new infrastructure and manufacturing hubs.
- Concerns about the harmful effects of excess sorbic acid consumption on human health and common side effects of potassium sorbate, posing obstacles to market growth.
- Application of potassium sorbate acidulants and sequestering agents in food and beverage products for taste enhancement and preservation.
- Fungistatic agents, especially in the food and beverage industry, exhibiting the highest market share in the applications segment.
Market-O-Nomics:
- The global Potassium Sorbate market valuation was USD 269.2 million in 2018, forecasted to reach USD 373.3 million by 2027.
- The pharmaceutical industry sub-segment in the end-use verticals segment is predicted to grow at a CAGR of 4.5% during the forecast period.
- Online retailing sub-segment expected to have the fastest growth rate of 6.4% from 2019 to 2027, driven by a global shift to online selling platforms.
- Fungistatic agent sub-segment projected to grow at a CAGR of 3.3% during 2019-2027, retaining dominance by 2027.
- Antifoulants anticipated to achieve a CAGR of 5.1% throughout the forecast period, accumulating a 28.1% market share by 2027.
Segments Covered in the Report:
- Distribution Channel Outlook: Online Retailing, Offline Retailing
- Application Outlook: Fungistatic Agent, Antifoulants, Buffering Agent, Other Applications
- End-Use Verticals Outlook: Food & Beverage Items, Pharmaceutical Industry, Personal Care Products, Others
- Regional Outlook: North America (U.S), Europe (U.K, France), Asia Pacific (China, India, Japan), MEA, Latin America (Brazil)
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FAQs Potassium Sorbate Market:
- What is Potassium Sorbate?
- Potassium Sorbate, also known as K-Sorbate, is an odorless and partly hygroscopic crystalline potassium salt of Sorbic Acid. It is commonly used as a food additive for its preservative properties.
- How is Potassium Sorbate Manufactured?
- Potassium Sorbate is manufactured by complete neutralization of sorbic acid with high-purity Potassium Carbonate or potassium bicarbonate, followed by crystallization.
- What is the Growth Projection for the Potassium Sorbate Market?
- The Potassium Sorbate market is projected to grow at a rate of 4.1% in terms of value from 2019 to reach USD 373.3 Million by 2027.
- Is Potassium Sorbate Safe for Consumption?
- Yes, Potassium Sorbate is approved by the European Union (EU) and European Free Trade Association (EFTA) as a safe food additive. It complies with standards set by various pharmacopeias for food-grade and pharmaceutical applications.
- What Are the Main Applications of Potassium Sorbate?
- Potassium Sorbate is widely used in food preserving applications as a fungistatic agent. It is utilized in food-grade applications such as fruits & vegetables, pickles, fruit juices, dairy products, syrups, jams, sauerkraut, dried fruits, as well as in pharmaceutical and alcoholic beverages.
- Which Region Dominates the Potassium Sorbate Market?
- In 2018, Asia Pacific held the highest market share in the potassium sorbate market. China and India are significant contributors to the growth in this region.
- What Are the Concerns Regarding Potassium Sorbate Consumption?
- Growing concerns include potential harmful effects caused by excess consumption of sorbic acid on human health. Common side effects of potassium sorbate may include skin irritation, itching, vomiting, nausea, headache, dry mouth, appetite loss, muscle pain, breathing problems, and fatigue.
- What are the Salient Trends in the Potassium Sorbate Market?
- Salient trends include extensive growth in various industries requiring potassium sorbate for food preservation, especially in the bakery industry. Growing industrialization and urbanization in the Asia Pacific contribute to increased demand.
- What Are the Forecasted Market Valuations and Growth Rates?
- The global Potassium Sorbate market valuation was USD 269.2 million in 2018, forecasted to reach USD 373.3 million by 2027. The pharmaceutical industry sub-segment is predicted to grow at a CAGR of 4.5%, and online retailing is expected to have the fastest growth rate of 6.4%.
- Which Companies are Considered in the Potassium Sorbate Market Study?
- Companies considered and profiled in the market study include APAC Chemical Corporation, Sorbic International PLC, Celanese Corporation, Wanglong Chemicals, Parchem, Jinneng Science & Technology Co. Ltd., FBC Industries Inc., Independent Chemical Information Service, Lubon Industry Co. Ltd., and Tengzhou Aolong Fine Chemical Co. Ltd., among others.
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