Potassium Hydrogen Sulfite Market by Product and Geography - Forecast and Analysis 2022-2026

The potassium hydrogen sulfite market share is expected to increase by USD 50.45 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.6%.

This potassium hydrogen sulfite market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the potassium hydrogen sulfite market segmentation by product (food grade, industrial grade, and pharmaceutical grade) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The potassium hydrogen sulfite market report also offers information on several market vendors, including Aditya Birla Chemicals, Avi Scientific India, BASF SE, Chemtex Speciality Ltd., Merck KGaA, Murphy & Son Ltd., Nexgen Chemical, Nithyasri Chemicals, S.P.Chemicals, Sisco Research Laboratories Pvt. Ltd., Triveni Chemicals, and West India Chemical International among others.

What will the Potassium Hydrogen Sulfite Market Size be During the Forecast Period?

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Potassium Hydrogen Sulfite Market: Key Drivers, Trends, and Challenges

The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the global potassium hydrogen sulfite market.

Key Potassium Hydrogen Sulfite Market Driver

The rise in disposable income and changes in lifestyle are the key factors driving the global potassium hydrogen sulfite market growth. The disposable income of people has increased globally. For instance, according to the data provided by the U.S. Bureau of Economic Analysis in April 2022, disposable personal income (DPI) increased by $89.7 billion (0.5%) in March 2022 in the US when compared to February 2022. According to the Organization for Economic Co-operation and Development (OECD), household disposable income has increased in all developed and developing countries since 2021. Factors such as an increase in the number of dual households, per capita income, and rapid growth in the employment rate have driven the increase in disposable income worldwide. The growth in disposable income is expected to increase the spending and purchasing power of consumers. The eating habits of consumers change as their disposable income increases. The eating habits of consumers have also changed due to their increasingly sedentary and stressful lifestyles. Food preferences have changed, resulting in a demand for ready-to-eat and ready-to-serve foods and healthier snacks. Such factors, in turn, contribute to the global potassium hydrogen sulfite market growth during the forecast period.

Key Potassium Hydrogen Sulfite Market Trend

The growth of the wine industry will fuel the global potassium hydrogen sulfite market growth. Individuals in the age group of 24-40 are generally known as Millennials, and they constitute a major segment of the global population. The increasing demand for a wide range of alcoholic beverages, including wines, from Millennials, is driving the growth of the global potassium hydrogen sulfite market. Wine tourism has emerged as a major trend. It refers to wine tours, wine festivals, and visiting vineyards and wineries with the purpose of tasting or purchasing different varieties of wines, such as organic wines. Besides, Millennials are inclined toward visiting breweries and socializing and attending social gatherings. Breweries are catering to this growing socializing need of Millennials by hosting trivia nights and themed events, which is increasing the sales of alcoholic beverages, such as wines. Millennials, globally, account for a majority of the demand for different varieties of wines, especially wines flavored with spices, which will have a positive impact on the global potassium hydrogen sulfite market growth during the forecast period.

Key Potassium Hydrogen Sulfite Market Challenge

The adverse effects of potassium hydrogen sulfite are the major challenge to the global potassium hydrogen sulfite market growth. Potassium hydrogen sulfite is widely used as a preservative and antioxidant additive in the food and beverage and pharmaceutical industries. Exposure to potassium hydrogen sulfite has been reported to induce a range of adverse clinical effects in sensitive individuals, ranging from dermatitis, urticaria, flushing, hypotension, abdominal pain, and diarrhea to life-threatening anaphylactic and asthmatic reactions. Exposure to potassium hydrogen sulfite arises mainly from the consumption of foods and drinks that contain these additives; however, exposure may also occur through the use of pharmaceutical products, as well as in occupational settings. Unfortunately, 5%-10% of people with asthma are also allergic to potassium hydrogen sulfite. An allergy is an increased sensitivity to a specific substance (called an allergen). The combination of asthma and potassium hydrogen sulfite can be dangerous. If one has asthma and a potassium hydrogen sulfite allergy, eating foods or taking drugs that contain potassium hydrogen sulfite can even be life-threatening. Thus, the adverse effects of potassium hydrogen sulfite can limit the growth of the global potassium hydrogen sulfite market during the forecast period.

This potassium hydrogen sulfite market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global potassium hydrogen sulfite market as a part of the global commodity chemicals market within the global chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the potassium hydrogen sulfite market during the forecast period.

Who are the Major Potassium Hydrogen Sulfite Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Aditya Birla Chemicals
• Avi Scientific India
• BASF SE
• Chemtex Speciality Ltd.
• Merck KGaA
• Murphy & Son Ltd.
• Nexgen chemical
• Nithyasri Chemicals
• S.P.Chemicals
• Sisco Research Laboratories Pvt. Ltd.
• Triveni Chemicals
• West India Chemical International

 

This statistical study of the potassium hydrogen sulfite market encompasses successful business strategies deployed by the key vendors. The potassium hydrogen sulfite market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• adityabirlachemicals.com - The company offers potassium hydrogen sulfite for photography, food, and water treatment applications.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The vendor profiles are designed to help clients improve their market position, and information on production and sustainability along with this report provides a detailed analysis of several leading Companies.

Potassium Hydrogen Sulfite Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the potassium hydrogen sulfite market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also the optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

The value chain of the global chemicals market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Potassium Hydrogen Sulfite Market?

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51% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for the potassium hydrogen sulfite market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The rise in disposable income and changes in lifestyle will facilitate the potassium hydrogen sulfite market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 resulted in multiple deaths in China and other nations, which compelled governments of various countries in the region to impose lockdowns to combat the spread of the disease. This led to the temporary closure of offline retail sales and the manufacturing units of end-user industries in the region. This negatively affected the regional potassium hydrogen sulfite market in 2020. However, in 2021, the initiation of vaccination drives by the governments of APAC countries led to the lifting of lockdown restrictions and the resumption of activities in offline retail channels and the manufacturing units of end-user industries. This increased the demand for potassium hydrogen sulfite from end-users. The rising disposable income of the Millennial population is leading to an increase in the demand for alcoholic beverages. Additionally, this region has seen a considerable increase in the consumption of ready-to-eat foods. Food promotions on social media are becoming more prevalent, which is influencing customer perception and behavior and expanding their food preferences. It is anticipated that rising consumer spending and awareness and increasing disposable income will support the regional potassium hydrogen sulfite market's expansion. Thus, such factors are expected to drive the growth of the regional potassium hydrogen sulfite market during the forecast period.

What are the Revenue-generating Product Segments in the Potassium Hydrogen Sulfite Market?

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The potassium hydrogen sulfite market share growth in the food grade segment will be significant during the forecast period. Food-grade potassium hydrogen sulfite is a product that has been authorized for use in food and beverage applications. The most stringent production standards are used to ensure that it is safe for consumption by people. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the potassium hydrogen sulfite market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Potassium Hydrogen Sulfite Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 4.6%
Market growth 2022-2026	$50.45 million
Market structure	Fragmented
YoY growth (%)	4.2
Regional analysis	APAC, North America, Europe, South America, and the Middle East and Africa
Performing market contribution	APAC at 51%
Key consumer countries	US, China, Japan, India, Germany, and Italy
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Aditya Birla Chemicals, Avi Scientific India, BASF SE, Chemtex Speciality Ltd., Merck KGaA, Murphy & Son Ltd., Nexgen chemical, Nithyasri Chemicals, S.P.Chemicals, Sisco Research Laboratories Pvt. Ltd., Triveni Chemicals, and West India Chemical International
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Potassium Hydrogen Sulfite Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive potassium hydrogen sulfite market growth during the next five years
• Precise estimation of the potassium hydrogen sulfite market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the potassium hydrogen sulfite industry across APAC, North America, Europe, South America, and the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of potassium hydrogen sulfite market vendors

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