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Innovations in Technology will Propel the Sorbic Acid Market Growth By 2021
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It is used in almost all kinds of foods owing to its anti-fungus and anti-decomposition function and also in medicines, grains, toothpaste, cosmetics, tobacco, latex, animal feed, paper manufacturing and pesticides. Sorbic acid is also used in wine making along with sulphur dioxide which assists conversion of sorbic acid to alcohol and thus negating the foul smell of ether. The global sorbic acid market is growing at a steady CAGR and is expected to grow in the forecast period.
Global sorbic acid market can be broadly segmented on the basis of ingredients, types, functions and region. The global sorbic acid market can be segmented on the basis of ingredients as polyhydroxyalkanoate (PHA), activated Carbon, microcrystalline cellulose (MCC), phosphorous chemicals, methyl cellulose, carboxymethyl cellulose (CMC), Ethyl cellulose, and Succinic Acid. The global sorbic acid market applications include food & beverage, industrial chemicals, pharmaceuticals, and others. On the basis of function the market can be segmented as food & beverage reducing agents. Region wise, global sorbic acid market is segmented as North America, Asia-Pacific, Europe, and Rest of the World (RoW).
Growing use of synthetic preservatives like sorbic acid is expected to be a major demand driver for the global sorbic acid market. Growing use of convenience food products due to change in lifestyle is expected to fuel the growth of the food and beverage industry which in turn will contribute to the growth in revenue of the global sorbic acid market. Growing use of protein drinks in sport sector as well as awareness regarding quality preservatives contributes to the growth of the sorbic acid market.
Sorbic acid market is highly affected due to the growing desire to avoid artificial preservatives. Also, toxicity issues related to sorbic acid restrains the growth of the global sorbic acid market. Stringent government regulations pertaining to the use of synthetic preservatives is also expected to restrain the growth of the global sorbic acid market.
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Some of the major players identified in the global sorbic acid market are Eastman, Solvay, Celanese, PT HALIM SAKTI PRATAMA, Qingdao Kaison Chemicals Co. Ltd., Suzhou-Chem, Inc., Avatar Corp., KIC Chemicals, Inc., Prinova USA, Continental Chemical USA, Rose Foodstuff Chemistry Co. Ltd, Seidler Chemical Co., Inc., and Wego Chemical & Mineral Corp. etc.
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𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐒𝐨𝐫𝐛𝐢𝐜 𝐀𝐜𝐢𝐝 𝐏𝐫𝐢𝐜𝐞𝐬 𝐌𝐨𝐯𝐞𝐦𝐞𝐧𝐭 𝐐𝟑
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