Asia-Pacific Sorbic Acid Market To Expand Massively in Future

The global sorbic acid market generated a revenue of $347,661.0 thousand in 2019, and it is predicted to advance at a CAGR of 4.7% between 2020 and 2030. The market is also expected to reach a value of $521,126.7 thousand by 2030. This will be due to the surging per capita food and beverages consumption in the developing countries such as China, Brazil, and India and the booming pharmaceutical and food & beverages industries in the Western countries.

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Sorbic acid is heavily used as a food preservative, due to its ability to inhibit the growth of mold that may spoil and contaminate the food. In addition to this, sorbic acid is extensively used for preparing baked products, cheeses, wines, refrigerated meats, and fresh produce, as it doesn’t affect the flavor of the final product. Therefore, it is safe to say that the growing consumption of food products across the world is fueling the demand for sorbic acid.

Geographically, the Asia-Pacific (APAC) sorbic acid market will demonstrate lucrative growth in the upcoming years, as per the estimates of the market research company, P&S Intelligence. This will be due to the rising urbanization rate and the surging sales of frozen foods, packaged products, desserts, and baked foods, because of the increasing disposable income of people, in this region. Additionally, the rising popularity of ready-to-eat food items in the regional countries is also propelling the market advancement in the region.

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Hence, it is clear that due to the growing popularity of ready-to-eat and frozen foods, the burgeoning requirement for food preservation, and the surge in the pharmaceutical industry, the market will grow sharply all over the world in the coming years.

Contact:
Prajneesh Kumar
P&S Intelligence
Contact: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.