Sorbates Market 2022 | Industry Outlook, Size, Share and Growth Analysis

According to Precision Business Insights (PBI), the latest report, the sorbates market is expected to be valued at USD 248.2 million in 2022 and is poised to grow at a significant CAGR of 5.8% over 2022-2028. The global Sorbates market is segmented into the following types: The primary driver of the expansion of the global Sorbates market is extensive applications of sorbates such as in food & beverages, pharmaceuticals, cosmetics, and many others.

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Food Industry Segment to Dominate the Sorbates Market:
Based on the application, the food industry segment is expected to account for a larger revenue share in the global Sorbates market attributed to the increase in the demand for processed food by the growing population day by day across the globe. Sorbates offer to extend the shelf-life of the products by preventing the growth of molds, fungi, and yeasts, in the food items. These features of sorbates provide various flavors of food and beverage including sausages, yogurt, confectionery, shellfish, lemonade, lemon juice, cheese, bread, cakes, pizza, wine, cider, and soups by which sorbate market would expect to draw customers worldwide.

Asia Pacific Sorbates Market:
North America market is expected to lead the global Sorbates market over the forecast period as it is one of the major manufacturers and consumers of sorbates in all the regions. Furthermore, high disposable income and busy lives in these regions enhance the demand for packaging food that requires sorbates as preservatives consequently would expect to boost the growth of the sorbates market. Moreover, The U.S. FDA has chosen sorbates as a generally recognized safe (GRAS) constituent and permits its applications in dairy foods, bakery items, fruit, vegetable products, fat emulsion products, confectionery products, and sugar, and some specific meat and fish items, this wide expanse of application in this region will surely favor the progressive growth of the market over the forecasted period. The Asia Pacific is expected to emerge as the fastest growing market for sorbates owing to expanding chemical, paints, and coating industry, specifically in developing countries such as China and India.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Sorbates market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The sorbates market is segmented based on type, application, and geography.
Based on the type, the market is segmented into the following:
• Potassium Sorbate
• Sorbic Acid
• Others

Based on the application, the market is segmented into the following:
• Oils & Fats
• Meat, Poultry, & Seafood
• Bakery & Confectionery
• Dairy & Frozen Products
• Sauces, Savory, & Dressings
• Cosmetic
• Pharmaceuticals
• Snacks
• Beverages
• Feed
• Others (Detergents)

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the sorbates market report are Nantong Acetic Acid Chemical Co. Ltd., Sydney Essential Oil Company, APAC Chemical Corporation, Zhejiang Bossen Technology Co., and Seidler Chemical Co, Inc

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