The global potassium
sorbate market is subject to witness a substantial growth
due to the increasing consummation of processed food products and capability to
enhance shelf life of the food product. Potassium sorbate is extensively used
in food and beverages industry as a preservative. Use of potassium sorbate as a
chemical for industrial purpose is expected to favor industry expansion over
the coming years. Globally, the market is predicted to generate massive revenue
over next seven years, providing numerous opportunities for market players to
invest for research and development in the potassium sorbate market.
Changing lifestyle, shifting trend towards
processed food products and rising per capita income are major contributing
factor for market growth in the recent years. Potassium sorbate is primarily
used as a preservative to avoid the food spoilage. Potassium sorbate exhibits
inhibitory action towards fungus, microbes, mold and yeast. Potassium sorbate
also enhances life span of the food product while not affecting taste, color
and smell of food. Primary function of potassium sorbate is protecting the food
from decomposition. These factors are significantly driving the growth of
potassium sorbate market across the globe in the past few years.
Higher approval rate from both regional &
international authorities such as FDA, the United Nations Food and Agriculture
Organization, and the European Food Safety Authority (EFSA) is anticipated to
amplify market value of potassium sorbate in the near future. Potassium sorbate
is generally regarded as safe to use and abbreviated as GRAS. Regular consummation
of potassium sorbate does not any harmful effects on human body and passes
through system harmlessly as water and carbon dioxide.
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However, for some people, consummation
of potassium sorbate leads to allergic reaction, thus restraining market growth
to a certain extent. In addition, allergies to potassium sorbate are more
visible with cosmetics and personal products. Some of these allergies include
skin or scalp irritation. Yet, increasing investment by leading industry
participants for research & development of lower risk products is expected
to sustain market growth over the next seven years.
The market is broadly categorized into
four major segments based on the application type such as food & beverages
industry, pharmaceutical sector, personal care products and industrial sector.
The food & beverages industry is considered as one of the fastest growing
segment in the with substantial revenue generation in the last few years.
The food & beverage segment is
further classified into six sub-segmented such as bakery products, dairy
products, canned food products, carbonated beverages, non-carbonated beverages
and powdered mixes. Growing popularity of potassium sorbate in the food &
beverages segment is attributed to the capability of potassium sorbate to
improve shelf life of the food products. The personal care segment has also
witnessed substantial growth owing to the extensive use of potassium sorbate
for production of shampoo, lotion and cream.
The market is divided by region as
North America, Europe, Asia-Pacific, Latin America and Africa. North America
has shown major growth in recent years owing to the rise in the implementation
of latest technologies in chemical manufacturing sector, increase in the number
of research & development activities in the region and existence of
well-established manufacturing infrastructure.
Asia-Pacific region is predicted to
hold major market share in the potassium sorbate market with massive growth in
forecast period. Countries such as India, China and Singapore are leading the
Asia-Pacific market with robust growth in manufacturing sector, increasing
demand from food & beverages industry, and significant investment by
leading industry players considering potential growth opportunities in the
region.
The key players in the potassium
sorbate market are APAC Chemical Co., FBC Industries, Inc., Parchem fine &
specialty chemicals Co., Wanglong Chemicals Co., Sorbic International plc,
Jinneng Science and Technology Company Ltd., ICIS Co., Tenengzhou Aolong
chemical Co., Ltd., and Lubon Industry Co., Ltd.
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