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Sorbates Market - Global Industry Share 2020
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Growing population coupled with increasing disposable income has boosted the overall growth of food industry. Thus, the growing demand for packaged food is expected to boost the overall demand for artificial preservatives that would protect the food from the microbial attacks. Thus, the growing demand for artificial preservatives has augmented the overall growth of sorbates market. Sorbates are also used in the beverage industries especially that are involved in carrying out the fermentation process. Sorbates effectively inhibits the multiplication of yeast. Thus, after the fermentation process the yeast growth is controlled such that it cannot cause the decay of food. Increase in dependency on junk food coupled with rise in pollution is expected to increase the heath related issues. Increase in number of individuals suffering from several ailments is expected to drive the overall pharmaceutical industry. Pharmaceutical industry is one of the major consumers of artificial preservatives. Thus, growing demand for artificial preservatives in pharmaceutical industry is projected to further enhance the overall demand for sorbates in the near future. However, presence of stringent environmental regulations is expected to hamper the overall growth of sorbates market. In addition, rise in incidences related to intolerance of artificial preservatives is further expected to inhibit the overall sorbates market.
North America is the largest manufacturer as well consumer of the global sorbate market. The presence of huge fast food industry coupled with the growing consumer preference for packaged food is expected to augment the overall growth of sorbates market. Asia Pacific is expected to be the fastest growing market for sorbates owing to the growing paints and coatings and chemical industry especially in China. Europe is expected to exhibit rapid growth in the overall demand for sorbate market in near future. However, Rest of the World is expected to exhibit sluggish growth in the overall demand for sorbate market in the near future.
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APAC Chemical Corporation, Nantong Acetic Acid Chemical Co., Ltd., Zhejiang Bossen Technology Co., Seidler Chemical Co, Inc. and Sydney Essential Oil Company among others are some of the major participants of the sorbate market.
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