Potassium Iodide Market to Record 7% CAGR Growth Through 2029 | Global Analysis Report

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Potassium Iodide Market Outlook: How is the Market Expected to Grow by 2025?
In recent times, there has been a substantial expansion in the potassium iodide market size. Estate forecasts predict a growth from $0.97 billion in 2024 to $1.03 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.5%. Several factors have contributed to this growth during the past period, such as the surge in interest for nutritious food, heightened health awareness, a rise in the number of CT scans, the expansion of the food & beverages and pharmaceutical sectors, and the increased demand for diagnostic imaging therapies in the pharmaceutical industry.

Potassium Iodide Market Forecast: What Size Will It Reach By 2029?
Expectations are high for significant expansion within the potassium iodide market in the coming years. Forecasts project an estimated value of $1.36 billion for the market by 2029, representing a compound annual growth rate (CAGR) of 7.0%. The plethora of reasons for this growth includes an increased number of thyroid and iodine deficiency disorders (IDDs), heightened awareness about the need for iodine supplementation, growing apprehension concerning nuclear accidents and radiation exposure, as well as an increased demand from the food and beverage industry and industrial applications. The trend predictions for the forecast period also point to a growth; it includes an increased use of potassium iodide in nutrition supplements, technological advancements and product innovation, partnerships and collaboration with competitors, and a burgeoning pharmaceutical industry.

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Which Key Market Drivers Will Shape Potassium Iodide Industry Trends in 2025-2029?
The potassium iodide market is anticipated to expand due to the growing demand for nutritional supplements. Nutritional supplements are products packed with essential vitamins, minerals, amino acids, and other vital substances that contribute to a balanced diet and overall good health. The surge in demand for nutritional supplements is fueled by rising health consciousness, the increasing trend towards preventive healthcare, changes in lifestyle that cause dietary deficiencies, and aging populations grappling with various health issues. Potassium iodide finds its use as a nutritional supplement to foster thyroid function and prevent iodine deficiency conditions like goiter and hypothyroidism, by supplying crucial iodine to the diet. To illustrate, in October 2022, the 2022 Consumer Survey on Dietary Supplements carried out by Council for Responsible Nutrition, an American non-profit trade body, revealed that out of 3,133 surveyed U.S. adults aged 18 and over, 2,342 reported using dietary supplements on a temporary, occasional, or regular basis. This included 75% of Americans who have made dietary supplements part of their daily routine. Therefore, the escalating demand for nutritional supplements is fueling the growth of the potassium iodide market.

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What Are the High-Growth Segments in the Potassium Iodide Market?
The potassium iodide market covered in this report is segmented -

1) By Product Type: Solid, Liquid
2) By Grade: Industrial Grade, Pharmaceutical Grade, Feed Grade
3) By Application: Pharmaceutical Industry, Nutritional Supplements, Industrial Applications, Radiation Protection, Photography And Imaging, Other Applications

Subsegments:
1) By Solid: Potassium Iodide Crystals, Potassium Iodide Powder, Potassium Iodide Tablets
2) By Liquid: Potassium Iodide Solution (Aqueous Solution), Potassium Iodide Syrup

Which Global Trends Are Driving Potassium Iodide Market Expansion?
Key players in the potassium-iodide market are utilizing a strategic partnership tactic in a bid to improve the availability of their products and satisfy varied customer needs. The concept of strategic partnerships encompasses the idea of corporations exploiting each other's assets and expertise to achieve shared success and benefits. To illustrate, in April 2023, the Delaware Emergency Management Agency (DEMA), a state-level emergency readiness agency in the U.S., joined forces with the Delaware Division of Public Health (DPH), a Department of Health and Social Services in the U.S., to distribute potassium iodide (KI) tablets to inhabitants located within a ten-mile radius - designated as the Emergency Planning Zone (EPZ) - of the Salem or Hope Creek Nuclear Generating Stations. These tablets, provided as part of Delaware's nuclear incident emergency measures under a U.S. Nuclear Regulatory Commission (NRC) program, serve to protect the thyroid gland from radioactive iodine that could potentially be released in a radiation emergency.

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Who Are the Fastest-Growing Companies in the Potassium Iodide Industry?
Major companies operating in the potassium iodide market are Thermo Fisher Scientific Inc., Honeywell International Inc., Merck KGaA, Univar Solutions Inc., Arkema Group, Avantor Inc., Tata Chemicals Ltd., Ise Chemicals Corporation, Samrat Pharmachem Limited, Mitsui Chemicals Inc., GFS Chemicals Inc., Calibre Chemicals Pvt. Ltd., Changshu Yuxi Chemical Co. Ltd, Ajay-SQM, Wego Chemical Group, Proto Chemicals Industries, Adani Pharmachem Private Limited, Pandora Industries Pvt. Ltd., Deepwater Chemicals Inc., Vishal Laboratories, Junsei Chemical Co. Ltd., Dalkem Corporation, Incasa S.A

What Is the Regional Outlook for the Potassium Iodide Market by 2029?
Asia-Pacific was the largest region in the potassium iodide market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the potassium iodide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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