Research Nester assesses the growth and market size of the global potassium sorbate market which is anticipated to be on account of the growing demand for better food preservatives and higher consumption of canned foods.
New York – June 11, 2023- Research Nester’s recent market research analysis on “Potassium Sorbate Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global potassium sorbate market in terms of market segmentation by type, application, end user, and by region.
Growing Concern for the Food Safety to Promote Global Market Share of Potassium Sorbate
The global potassium sorbate market is estimated to grow majorly on account of the increasing demand for better preservatives for the food industry, in order to enhance the quality of food and avoid any foodborne illness. The increased emphasis on food safety will boost market expansion. Unsafe food endangers both human health and the economy as a whole. It primarily affects the most vulnerable members of society, mainly women and children.
Moreover, the other, more fortunate part of society has increased the consumption of processed food, as their purchasing per capita power rising and they are shifting to more urban areas. In the last decade, there has been a significant increase in global consumption of ultra-processed foods. In many parts of the world, these foods now account for 25-60% of a person's daily energy intake. Considering potassium sorbate is compatible with a wide range of food ingredients, it is an excellent choice for food preservation. It is mixed with other preservatives in order to enhance the quality of food.
Besides this, many regulatory bodies are reviewing the use of potassium sorbate, which in turn has increased its usage in other industries, such as personal care products and pharmaceuticals. Potassium sorbate is safe for a wide range of cosmetic ingredients, making it appropriate for usage in a variety of personal care products, including shampoos. Furthermore, it is also used as a preservative in pharmaceutical products, such as syrups, oral solutions, and others and they can be also employed in adhesives and sealants for industrial purposes.
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Some of the major growth factors and challenges that are associated with the growth of the global potassium sorbate market are:
Growth Drivers:
• Surge Concerns for Food Safety
• Rising application in other industries
Challenges:
There are various alternatives of potassium sorbate present in the market and many people have misconceptions attached to the effect of potassium sorbate are some of the major factors anticipated to hamper the global market size of potassium sorbate. Various alternatives, such as benzoates, sorbates, and natural antimicrobial agents like rosemary extract and vinegar are present in the market. Moreover, manufacturers are constantly exploring alternative preservative options that can meet consumer demands and regulatory requirements. There is the notion that there are some negative effects of potassium sorbate on human health.
On the other hand, the market growth is also stifled by the fluctuating price of raw materials used in making potassium sorbate.
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On the basis of end user, the global potassium sorbate market is segmented into personal care, pharmaceutical, food & beverages. The food & beverages segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR of 4% over the forecast period. The growth of the segment is expected on account of rising production of baked products, such as cakes, loaves of bread, pastries, and others followed by higher demand for packed drinks. Since it prevents the growth of mold and yeast in these food products and helps in maintaining their freshness. Furthermore, on the basis of type, the market is segmented into two, sorbic acid and potassium hydroxide. Out of which, the potassium hydroxide will show significant growth.
Further, the market in the Asia Pacific, amongst the market in all the other regions, is projected to hold a majority of the share during the forecast timeline. As consumers in the Asia Pacific region adopt busier lifestyles, there is a growing preference for convenience food and ready-to-eat meals these products often require effective preservation to ensure their safety and quality. Potassium sorbate’s ability to inhibit microbial growth makes it a popular choice for food manufacturers.
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This report also provides the existing competitive scenario of some of the key players of the global potassium sorbate market which includes company profiling of Kerry Group Plc, Shaowu Huaxin Chemical Co. Ltd., Jiangbei Additive Co.,Ltd., Vigon International, CJ Chemicals, Twin Specialties Corp, ChemCeed, Celanese Corporation, Dastech International Inc., and Corbion NV.
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