Potassium Sorbate Market Size, Share, Growth, and Industry Analysis by Type (Sorbic Acid, Potassium Hydroxide), by Application (Food and Beverages, Personal Care), Regional Insights and Forecast to 2032

Updated On: 08 July 2024

Potassium Sorbate Market Report Overview

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global potassium sorbate market size was USD 187.26 million in 2021 and market is projected to touch USD 422.92 million by 2032 at CAGR 7.69% during the forecast period.

Potassium sorbate is a salt or chemical that is used as a preservative in food and drinks, as well as an industrial chemical and a form of solution in personal care products. Potassium sorbate demand is mainly increasing in the food industry, with a higher demand for pre-processed foods.  Mostly it is gaining importance because of increase in consumption of baked foods, processed fruits, vegetables, and fast food products. Potassium sorbate is extensively used as a food preservative to prolong the shelf life of foods. Its ability to prevent the growth of molds, yeasts and certain bacteria makes it popular choice for food manufacturers looking to improve the shelf life and quality of their products. Its extensive use in the food industry is due to the circumstance that it has no impact on the taste, color, or smell of food while also protecting it from breakdown which is powering demand growth in the near future. Rise in processed food has played a key role in increasing demand for potassium sorbate. Processed food require proper preservation methods to maintain freshness and safety during storage and transportation. It is also gaining demand in wine industry where it is used in fermentation process and it is also used as a stabilizer in beverage industry to prevent the drinks from secondary fermentation and reinfection.

Constructive government policies and regulations will outcome in the augmented consumption of potassium sorbate now as well as during the forecast period. Participating are fixing their efforts on encouraging R&D. Manufacturers need to stay updated with changing market trends and develop products that meet growing consumer needs. Technological development are supporting the regional market growth. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact: Pandemic Hampered The Market Due To Unexpected Disruption In The Sector

The global COVID-19 pandemic has been unprecedented and staggering, with potassium sorbate market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

COVID- 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID- 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

Latest Trends

"Use of Innovative Products To Boost The Market Growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

Potassium Sorbate Market Segmentation

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• By Type

According to type, the market can be segmented into sorbic acid, potassium hydroxide.

Potassium hydroxide will capture the maximum market share through forecast period.

• By Application

According to application, the market can be segmented into food and beverages, personal care.

The market players cover segment as food and beverages will dominate the market share during forecast period.

Driving Factors

"Increase In Demand In Personal Care Products To Boost The Market Growth"

Consumers rising consciousness of personal hygiene and grooming is also driving the market demand for potassium sorbate in personal care products. Rise of end-use sectors such as cosmetics and pharmaceuticals is giving chances for the market to grow. The demand is motivated by the growth of these industry which is anticipated to enhance market growth.

"Technological Advancement And Development To Upsurge The Market"

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the potassium sorbate market growth. Growing investment in research and development activities and growing awareness about benefits of potassium sorbate are expected to deliver profitable opportunities for the market. Business are heavily investing in product innovation to increase the ability and efficiency of preservation procedures. Constant development are one of the trends in the market in variety of practices.

Restraining Factor

"Health Related Concerns To Hamper The Market Growth"

Health concern is hampering development of market. Potassium sorbate consumption on a regular basis can lead to a variety of health issues in the long run. Additional potassium sorbate intake can cause health problems like skin irritation. It has an effect on our DNA as well as several other effects that may be harmful to our bodies. Technical difficulties will reduce the industry revenue.

Potassium Sorbate Market Regional Insights

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"Asia Pacific to Dominate The Region Due To Consumer Awareness Of Food Safety"

Asia Pacific is further expected to witness growth in the potassium sorbate market share. The region is dominating the market due to expanding food & beverage sector and rising consumer awareness of food safety. The rising inhabitants and increasing income levels are also contributing to the development of the market. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

Key Industry Players

"Key Players Focus On Partnerships To Gain Competitive Advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• Seidler Chemical (U.S.)
• Eversprings Industries (Taiwan)
• Veckridge Chemical (U.S.)
• Bimal Pharma (India)
• BKM Resources (U.S.)

Report Coverage

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.