Potassium
sorbate is a kind of salt or chemical that has wide applications in
food and beverages as a preservative, as a chemical for industrial
purpose and as a type of solution in personal care products. Demand
of potassium sorbate in market is primarily increased in food
industry where it has greater demand in preprocessed food. In terms
of its functionality it is used as a preservative to avoid the food
from spoilage as it prime function is to prevent food and beverages
from growth of fungus, microbes, mold, yeast etc. The reason behind
its excessive usage in food industry is because it does not make any
effect in terms of taste, color and smell of food and protect the
food from decomposition, which is driving the market growth in the
near future.
Market
Dynamics of Potassium Sorbate Market:
Increasing
demand of processed food is one of the major driver behind the rising
demand of potassium sorbate in global market. This driver is
influencing food manufacturing companies to offer the products which
has longer shelf life as it is used as preservative in their
products. On the other side in terms of trends, mostly the potassium
sorbate is gaining importance because of increase in consumption of
baked food, processed fruits, vegetables and fast food products..
Excessive consumption of potassium sorbate causes health problems
such as nutritional deficiencies, problems of vomiting, diarrhea etc.
which may restrain the market growth in the near future.
Market
Segmentation of Potassium Sorbate Market:
Potassium
sorbate market is segmented on two different basis which
includes types and application. As per the types it includes granule,
powder and liquid form. Among these segments, granules segment
contributes the largest market share. Market segment on the basis of
application includes food & beverages, pharmaceutical products,
personal care and industrial usage. Further the food & beverage
segment is sub-segmented into bakery, dairy products, canned foods
carbonated beverages, non-carbonated beverages & powdered mixes.
Major demand of potassium sorbate is from the side of food processing
industry followed by pharmaceutical and cosmetic sector.
On
analyzing the demand of potassium
sorbate, it is observed that highest percentage of its application is
in canned fruit and vegetable products, canned meat, desserts and
from dairy sector which includes products like cheese, ice-cream,
yogurt etc. Results of pie chart show that majority of share in
market of potassium is from food & beverage industry. It is due
to increasing demand of processed food products among growing
population in emerging economies of world. On the other side,
potassium sorbate is also gaining demand in wine industry where it is
used in fermentation process and it also used as a stabilizer in
beverage industry to prevent the drinks from secondary fermentation
and reinfection. Similarly in personal care products it is used in
shampoo, lotion, cream etc. It is also used in industrial coatings to
prevent the industrial products from fungus, yeast, mold etc.
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Regional
Outlook of Potassium Sorbate:
On
the basis of geographical market segment, it is segmented into seven
different regions: North America, Latin America, Eastern Europe,
Western Europe, and Asia-Pacific region, Japan and Middle East and
Africa. Asia-Pacific region is expected to be lucrative market. China
is expected to account for major share in terms of volume
contribution. On the other side in terms of consumption, U.S. is
expected to be the largest consumer of potassium sorbate in the world
followed by European region.
Key
Market Players in Potassium Sorbate Market:
Major
players in Potassium Sorbate are APAC Chemical Corporation, FBC
Industries, Inc., Parchem fine & specialty chemicals,
WANGLONG CHEMICALS, Sorbic International PLC, Jinneng Science and
Technology Company Limited, ICIS, TENGZHOU AOLONGCHEMICAL CO., LTD.
and Lubon Industry Co., Ltd.
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