The potassium sorbate market size is poised to grow by USD 57.86 million during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio announced its latest market research report titled global potassium sorbate market 2019-2023. (Graphic: Business Wire)
In the food and beverages industry, potassium sorbate is used as a preservative to prevent food spoilage resulting from the growth of fungus, microbes, mold, and yeast. In addition, potassium sorbate does not impact the taste, color, and smell of food and protects the food from decomposition, which increases its usage in the food industry. Potassium sorbate is also easily available and cost-effective, which is contributing to its growing adoption, in the F&B industry. Thus, the increased demand for potassium sorbate in processed foods is expected to drive the growth of the market during the forecast period.
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As per Technavio, the increasing demand for clean label ingredients will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Potassium Sorbate Market: Increasing Demand for Clean Label Ingredients
Consumers are shifting from processed food containing artificial and synthetic ingredients such as flavors, colorants, and preservatives to natural and organic food products owing to increasing awareness about the drawbacks of artificial ingredients. Moreover, FDA mandates to provide clean label ingredients for all the packaged food products. Thus, producers are increasingly focusing on natural ingredients in food products to abide by the regulations pertaining to clean labels. The clean label is also increasingly used in all packaged food products including bakery products, confectionaries, baby foods, and savory snacks. Potassium sorbate is mainly used as a preservative and stabilizer to improve the shelf life of food products. It helps retain the freshness of packaged foods and beverages. Thus, the increasing focus on clean labeled packaged food products will increase the global consumption of potassium sorbate, thereby driving the market growth during the forecast period.
"Other factors such as the diversified applications of potassium sorbate and the growth of the packaged food and beverage industry will have a positive impact on the growth of the potassium sorbate market value during the forecast period," says a senior analyst at Technavio.
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Potassium Sorbate Market: Segmentation Analysis
This market research report segments the potassium sorbate market by end-user (food and beverage, pharmaceuticals, and personal care and cosmetics) and geographical regions (APAC, EMEA, and the Americas).
The APAC region held the largest share of the market in 2018, followed by the Americas and EMEA respectively. During the forecast period, the APAC region is expected to maintain its dominance and register the highest incremental growth owing to growth in the agriculture and food and beverage sectors in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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