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Potassium Sorbate Market Size Worth USD 260.3 Million in 2032 | Emergen Research
Potassium Sorbate Market
Potassium sorbate is primarily categorized into three grades: food grade, pharmaceutical grade, and industrial grade. Its exceptional preservative properties make it a popular choice across various industries, including food and beverage, pharmaceuticals, and personal care.
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Key Drivers of Market Growth
One of the primary factors propelling the potassium sorbate market is the rising demand for longer shelf life in processed foods. The global food processing industry is rapidly expanding, with packaged food demand projected to increase from approximately $368.3 billion in 2022 to around $530.34 billion by 2030. Potassium sorbate plays a vital role in this growth, offering manufacturers a reliable solution to enhance product longevity and prevent spoilage.
In a significant development, Celanese Corporation has entered into a joint venture with Mitsui & Co. to bolster its food ingredients business, further emphasizing the importance of potassium sorbate in the industry.
Challenges Facing the Market
Despite its advantages, the potassium sorbate market faces challenges. High production costs and limited product availability can hinder market expansion. Stringent quality control measures and elevated overheads may lead to pricing difficulties, prompting manufacturers to consider more cost-effective alternatives. These factors pose a challenge to maintaining competitiveness within the industry.
Market Segmentation Insights
The potassium sorbate market can be segmented by type, grade, application, and end-use:
Type: The sorbic acid segment dominated the market in 2022, driven by its high effectiveness in food preservation and pharmaceutical applications. Sorbic acid's ability to resist yeast and molds enhances its efficacy as a preservative.
Grade: The food grade segment accounted for the largest share in 2022, primarily due to its increasing utilization in beverages, baked goods, and dairy products. Its capability to extend shelf life while offering cost savings makes it an attractive choice for manufacturers.
Application: The food preservatives segment also held the largest market share in 2022. Potassium sorbate prevents bacterial enzymes from spoiling food, making it a preferred ingredient in the food processing industry, where maintaining product quality is paramount.
End-Use: The food and beverage segment is projected to experience significant growth during the forecast period. With its ability to resist foodborne organisms and extend shelf life, potassium sorbate enhances the durability of packaged foods, making it essential for manufacturers in the food processing sector.
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Potassium Sorbate Top Companies and Competitive Landscape
The global potassium sorbate market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective potassium sorbate.
Some of the major companies included in the global potassium sorbate market report are:
APAC Chemical Corporation
Wanlong Chemicals
Sorbic International PLC
Celanese Corporation
Lubonchem
FBC Industries Inc.
Parchem
Jinneng Science & Technology Co. Ltd.
LexisNexis Risl Solutions
Tengzhou Aolong Fine Chemical
Hawkins Watts Limited
Nantong Acetic Acid
Nantong Alchemy Biotech
BKM Resources
Veckridge Chemical
Potassium Sorbate Latest Industry Updates
On 08 May 2023, Hawkins Watts, a frontrunner in providing specialized ingredients for the food, beverage, and supplement industries, extended its operations by incorporating well-developed laboratories and a spacious warehouse. The recently established laboratories feature advanced technical equipment, such as a UV-vis spectrophotometer, a 3-1 combi oven, 2-stage homogenizers, water activity measurement capabilities, an ultra-turrax disperser, and a canning machine, among other cutting-edge tools. In addition to its comprehensive innovation laboratory resources, the new facility encompasses a contemporary warehouse spanning 300m2.
For the purpose of this report, Emergen Research has segmented the global potassium sorbate market on the basis of type, grade, application, end-use, and region:
Type Outlook (Revenue, USD Million, Volume, Kilotons; 2019-2032)
Sorbic Acid
Potassium Hydroxide
Grade Outlook (Revenue, USD Million, Volume, Kilotons; 2019-2032)
Pharmaceutical Grade
Food Grade
Technical Grade
Application Outlook (Revenue, USD Million, Volume, Kilotons; 2019-2032)
Fungistatic Agent
Antifoulants
Buffering Agents
Antimicrobial Agents
Food Preservatives
Others
End-Use Outlook (Revenue, USD Million, Volume, Kilotons; 2019-2032)
Food and Beverage
Pharmaceutical
Personal Care Products
Industrial Usage
Others
Regional Outlook (Revenue, USD Million, Volume, Kilotons; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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Look Over transcripts provided by Emergen Research
Potassium Sorbate Market Size@ https://www.emergenresearch.com/industry-report/potassium-sorbate-market/market-size
Potassium Sorbate Market Share@ https://www.emergenresearch.com/industry-report/potassium-sorbate-market/market-share
Potassium Sorbate Market Trends@ https://www.emergenresearch.com/industry-report/potassium-sorbate-market/market-trends
Potassium Sorbate Regional Market Demand@ https://www.emergenresearch.com/industry-report/potassium-sorbate-market/regional-market-demand
Potassium Sorbate Market Analysis@ https://www.emergenresearch.com/industry-report/potassium-sorbate-market/market-analysis
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors
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