Potassium Sorbate Market by End-user and Geography - Forecast and Analysis 2023-2027

Potassium Sorbate Market Forecast 2023-2027

The potassium sorbate market is estimated to increase  by USD 57.87 million, growing at a CAGR of 5.38% between 2022 and 2027. The growth of the market depends on several factors, including increased demand for potassium sorbate in processed food, easy production process, and approvals from regulatory bodies and governments. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the size of the Market During the Forecast Period?

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Market Segmentation

This report extensively covers market segmentation by end-user (food and beverages, pharmaceuticals, personal care and cosmetics, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa)

The market share of the food and beverages segment will be significant during the forecast period. Potassium sorbate is a safe, efficient preservative recommended by the FAO and WHO. By end-user, this segment accounted for the largest share of the market and is expected to register the fastest growth rate during the forecast period.

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The food and beverages segment was valued at USD 78.16 million in 2017 and continued to grow until 2021.  Potassium sorbate is widely used as a preservative in dairy products, such as cheese and yogurt, processed meat and fish, pickles, wine, dried meats, apple cider, soft drinks and fruit drinks, and baked food. As it prevents the early rotting and damage of such products, the increased demand for packaged food and ready-to-eat meals in developed and developing economies has a positive impact on the growth of the market.

Which are the Key Regions for the Potassium Sorbate Market?

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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America was the second-largest potassium sorbate market in 2022. The favorable government support for the production and consumption of potassium sorbate is propelling its usage from end-user segments. Potassium sorbate is recognized as a GRAS ingredient by the FDA and is widely used in dairy and baked food, fruits and vegetable, fat emulsion products, sugar and confectioneries, and certain meat and fish. Government approval, such as approval from the US Environmental Protection Act (EPA) and FDA for the consumption of this product in cosmetics and self-care products, as well as pharmaceutical products, can also promote the growth of the market significantly during the forecast period. 

Market Dynamics and Customer Landscape

The market is thriving, especially in the food and beverage sector, where it serves as a key preservative against microbial growth. Rising safety awareness and consumer desire for longer shelf life drive its demand. It's also gaining traction in the pharmaceutical and personal care sectors. As a preservative, it extends the shelf life of processed foods and convenience foods, mitigating the risk of foodborne illnesses and reducing waste. Factors such as pH levels, temperature, and moisture influence its effectiveness. With the growing demand for clean-label products, the market size of potassium sorbate continues to expand. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Market growth analysis driver

The approvals from regulatory bodies and governments are notably driving the market growth. The food and beverage sector benefits from the US FDA's approval of potassium sorbate, a key ingredient known for its ability to inhibit microbial growth and enhance food safety awareness. With favorable government policies and regulations backing its usage, potassium sorbate finds widespread application but also in the pharmaceutical and personal care sectors. Recognized for its safe nature and efficacy, potassium sorbate is integral to various products such as processed foods, convenience meals, and clean-label products.

Further, its role in extending shelf life and combating foodborne illnesses aligns with consumer desires for quality and safety in consumables. Moreover, its inclusion in personal care items like shampoos, soaps, and moisturizing creams underscores its versatility and widespread adoption. The market's trajectory is further buoyed by favorable government regulations, which drive increased consumption of potassium sorbate across sectors. As these policies continue to support its usage, the market size is expected to grow steadily, fueled by ongoing demand from both consumers and industries for this vital ingredient.

Signficant Market Trends

The growth of packaged food and beverage industry is the key trend in the market. The tremendous growth of the packaged food and beverage industry can increase the global consumption of preservatives like potassium sorbate. The increasing disposable income and change in food habits have increased the demand for packaged food across the globe. The demand for packaged products is rising rapidly because of lifestyle changes and the increasing focus on health and hygiene.

Furthermore, potassium sorbate is crucial for packaged meals, such as baked products, confectioneries, baby foods, and savories. It is classified as a GRAS ingredient by the FDA and is used in packaged beverages and soft drinks. Thus, the growth of packaged beverage industry creates a window of opportunities for the market now as well as during the forecast period.

Major Challenges

The availability of substitutes is the major challenge impeding market growth. Sodium benzoate, caustic potassium, calcium propionate, sodium sorbate, and other artificial preservatives are substitutes for potassium sorbate. Sodium benzoate manufactured from sodium hydroxide and benzoic acid is used as an ingredient and preservative to increase the shelf life. Caustic potassium is used in products and pharmaceuticals as an ingredient.

Besides, globally, natural preservatives and artificial preservatives are widely used by manufacturers to prevent the decay and spoilage. Factors such as cost advantages, improved performance, favorable government policies, and the availability of less toxic substitutes can hamper the growth of the market during the forecast period.

Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Market Customer Landscape

Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Titan Biotech Ltd. - The company offers potassium sorbate in 25gms and 500gms packages. The company manufactures and exports biological products which are used in the field of Pharmaceuticals, Nutraceutical, Bio-technology and Fermentation, Cosmetic, Veterinary and Animal Feed etc.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• ATP Group
• BIMAL PHARMA PVT. LTD.
• Celanese Corp.
• Chemball HangZhou Chemicals Co. Ltd.
• CNK Fragrances Pvt. Ltd.
• FBC Industries Inc.
• Hawkins Watts Ltd.
• Jinneng Science and Technology Co. Ltd.
• LUBON INDUSTRY Co. LTD.
• Manus Aktteva Biopharma LLP
• REJOICE LIFE INGREDIENTS
• SHANGHAI NICECHEM CO. LTD.
• Spectrum Laboratory Products Inc.
• Tianjin Haitong Chemical Industrial Co. Ltd.
• Wanglong Tech Co. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market growth and forecasting report forecasts market research and growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• End-user Outlook 
  • Food and beverages
  • Pharmaceuticals
  • Personal care and cosmetics
  • Others
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Brazil
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview

The market plays a pivotal role in various industries, particularly the pharmaceutical sector and industry. With category-wise insights into its leading application in preservatives and personal care products, its usage extends across globalization-driven supply chains and high-tech industries requiring specialized applications. Offering different grades including food grade, pharmaceutical grade, and industrial grade, it serves as a crucial chemical additive in food and beverage items and industrial usage. Effective against molds, yeasts, and bacteria, it ensures the preservation of pre-processed foods, baked goods, and processed fruits and vegetables. In the wine industry, it aids in the fermentation process as a stabilizer. While driving factors include personal hygiene and grooming, restraints stem from health concerns and consumer awareness regarding DNA implications.

Food waste is a pervasive issue affecting both households and industries, with significant environmental and economic implications. In efforts to mitigate food waste, various methods and additives are employed, including sorbic acid and potassium sorbate. These components serve as preservatives, extending the shelf life of perishable items such as baked foods and fast food products, thereby reducing spoilage and waste. Sorbic acid, a natural compound derived from berries, is commonly used in food preservation due to its antimicrobial properties. When combined with potassium hydroxide, sorbic acid forms potassium sorbate, a highly effective preservative that inhibits the growth of mold and yeast. This enables food manufacturers to maintain the quality and freshness of their products for longer periods, reducing the likelihood of disposal due to spoilage. In addition to food applications, potassium sorbate is also utilized in cosmetics and personal care products to prevent microbial contamination and extend product shelf life. By incorporating these preservatives into formulations, manufacturers can ensure the safety and stability of their cosmetic and personal care items, preserving their efficacy and preventing waste.

Beyond preservation, taste and smell play integral roles in consumer perception and acceptance of food products. Preservatives like sorbic acid and potassium sorbate are carefully formulated to minimize any undesirable effects on taste and smell, ensuring that the sensory attributes of the food remain intact. This allows consumers to enjoy products without compromising on flavor or aroma, further reducing the likelihood of waste due to dissatisfaction. In summary, preservatives such as sorbic acid and potassium sorbate are essential tools in combating food waste by extending the shelf life of perishable items. Whether used in baked goods, fast food products, or cosmetics, these additives help maintain product quality and safety while minimizing spoilage and disposal. By preserving taste and smell, they enhance consumer satisfaction and contribute to a more sustainable approach to food and product manufacturing.

Market Scope
Report Coverage	Details
Page number	144
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 5.38%
Market growth 2023-2027	USD 57.87 million
Market structure	Fragmented
YoY growth 2022-2023(%)	4.5
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 36%
Key countries	US, Canada, China, Germany, and UK
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	Anant Pharmaceuticals Pvt. Ltd., Anmol Chemicals Group, APAC Chemical Corp., Astrra Chemicals, ATP Group, BIMAL PHARMA PVT. LTD., Celanese Corp., Chemball HangZhou Chemicals Co. Ltd., CNK Fragrances Pvt. Ltd., FBC Industries Inc., Hawkins Watts Ltd., Jinneng Science and Technology Co. Ltd., LUBON INDUSTRY Co. LTD., Manus Aktteva Biopharma LLP, REJOICE LIFE INGREDIENTS, SHANGHAI NICECHEM CO. LTD., Spectrum Laboratory Products Inc., Tianjin Haitong Chemical Industrial Co. Ltd., Titan Biotech Ltd., and Wanglong Tech Co. Ltd.
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 Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the industry across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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