Potassium benzoate is a chemical compound that appears white in color and is odorless. This compound is gained by combining benzoic acid and potassium salt prepared under heat. It is generally found in beauty products, plants, animals, and fermented products. It is benzoic acid’s potassium salt which is used as a food preservative. The use of this chemical in the preservation of food is expected to propel market growth. The food preservative potassium benzoate (C6H5COOK) is widely utilized in a wide range of industries, including the pharmaceuticals, food industry, personal care, and cosmetics business, and agriculture and related industries. In food products such as fruit juices, pickles, and carbonated beverages is used to control the growth of mold, bacteria, and yeast. During the projected period, the market is anticipated to expand, coupled with the rise in consumer need for food preservatives. Potassium benzoate has an advantage over important competitors like sodium benzoate due to a number of characteristics.
The worldwide potassium benzoate industry is expected to grow significantly in the next several years, driven by growing market for food and beverages. The electronics sector is also anticipated to foster opportunities for suppliers, regarding the wide application of the product in preservation of food.
According to a research study by Business Research Insights, the global market for potassium benzoate is projected to rise at a CAGR of 7.3% during 2022-2028. By 2022, the market value is expected to stand at USD 25 million.
Business Research Insights States Top 5 Potassium Benzoate Companies-
1. Emerald Kalama Chemical:- it is a manufacturer of F&B and food preservatives. The company offers products such as benzaldehyde, potassium and sodium benzoate, hexyl cinnamic, benzoic acid, and other chemicals. It is a world-class organization that emphasizes toluene oxidation chemistry. The company was founded in 1962 and has its headquarters on the West Coast of the United States. The company manufactures and supplies a complete range of preservatives for food and beverages.
2. Tengzhou Tenglong Chemical:- is a domestic chemical manufacturing company that produces food-antiseptic products such as potassium benzoate, sodium benzoate, and benzoic acid. The company is considered one of the leading players in industry.
3. A.M. Food Chemical:- is a Chinese organization attached to animal husbandry and agriculture groups. It is the first animal husbandry and agricultural enterprise listed on the new OTC (Over Counter) market. The company has eight subsidiaries that, include four holding subsidiaries and four wholly-owned subsidiaries. The company holds a significant share in the market.
4. Macco Organiques Inc.:- is one of the leading players in the potassium benzoate sector, established in 1976. The headquarter of the company is located in Canada. It is a Czech Republic-based company that produces and distributes inorganic salts for dialysis and IV solutions, biotechnology, nutritional supplements, veterinarian preparations, and for personal care.
5. FBC Industries:- is a leading player in potassium benzoate as it supplies food additives. The company has mastered producing liquid preservatives and additives for quality food and beverage manufacturer. It was founded by Robert W. Bloom and has its headquarters in the United States.
COVID-19: Lower Supply of Cold Drinks Affected the Market Growth Rate
The COVID-19 pandemic's effects are already being noticed on a global scale, and they have had a big influence on every market. COVID-19 has had a negative impact on a number of marketplaces. Several countries went into lockdown. Many different types of businesses experienced challenges as a result of the sudden epidemic. The pandemic's numerous restrictions had a detrimental impact on a number of market categories. Lockdowns by the government disrupted the supply chain, which had an impact on the agriculture, food, and service sectors. The potassium benzoate industry witnessed a downfall owing to the lower consumption of food and beverages in the global market.
Consistently Rising Consumption of Soft Drinks to Boost Growth in the Market
The human body also benefits medically from potassium benzoate, which, after digestion, splits into two components, one of which is potassium electrolyte. This is helpful for several important biological functions, such as the contraction of the heart muscle, which is essential for the digestive and cardiovascular systems. The advantages of potassium as a necessary mineral are projected to support continuing demand for the chemical. The potassium electrolyte helps electrical pulses and messages move through the body. Potassium benzoate has been certified for use as a food preservative and flavoring ingredient and has been deemed to be "generally recognized as safe."Medical benefits from products to foster growth. The human body also benefits medically from potassium benzoate, which, after digestion, splits into two components, one of which is potassium electrolyte. This is helpful for several important biological functions, such as the contraction of the heart muscle, which is essential for the digestive and cardiovascular systems. The advantages of potassium as a necessary mineral are projected to support continuing the product demand. The potassium electrolyte helps electrical pulses and messages move through the body. Potassium benzoate has been certified for use as a food preservative and flavoring ingredient and has been deemed to be "generally recognized as safe."