Potassium Sorbate Market 2023-2035

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Potassium Sorbate Market size is poised to surpass USD 250 Million by the end of 2035, witnessing around 5% CAGR during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of potassium sorbate was crossed USD 170 Million. The rising focus on food safety will drive the market growth. Unsafe food is a threat to human health and economies as a whole. It affects the weaker section of society, particularly women and children. Moreover, every year around 600 million cases of foodborne illness occur in the world.

Moreover, the rising use of potassium sorbate in the pharmaceutical industry is also expected to augment the potassium sorbate market growth. Potassium sorbate is often used as a preservative in liquid pharmaceutical formulations such as syrups, suspensions, and oral solutions. It helps inhibit the growth of microorganisms and degrade the integrity of the product. Besides this, potassium sorbate may find use in various non-food industrial applications, such as in the production of adhesives, coating, and lubricants. However, the function is quite similar, it also protects industrial products from microbial contamination by serving as a preservative.

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Potassium Sorbate Market: Key Insights

Base Year	2022
Forecast Year	2023-2035
CAGR	~5%
Base Year Market Size (2022)	~ USD 170 Billion
Forecast Year Market Size (2035)	~ USD 250 Billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Potassium Sorbate Market: Growth Drivers and Challenges

Growth Drivers

Approvals from Regulatory Bodies – The Food and Drug Administration regarded potassium sorbate as a safe ingredient and has approved its usage in the food and pharmaceutical industry. These regulatory bodies consider various factors while evaluating, such as exposure levels, the potential risk to health, and toxicology studies. It provides assurance to manufacturers and consumers that the substance can be used without significant health concerns.
Increasing Use of Personal Care Products – According to the United States Census Bureau and the Simmons National Consumer Survey (NHCS), 307.84 million Americans used shampoo in 2020. Potassium sorbate is compatible with a wide range of cosmetic ingredients, making it suitable for use in various personal care products, including shampoos. It can be used in combination with other preservatives to provide better protection.
Growing Consumption of Processed Food – Global consumption of ultra-processed foods has expanded considerably in the past 10 years. These foods currently account for 25-60% of a person's daily energy intake in much of the world. Potassium sorbate is primarily used to inhibit the growth of molds, yeast, and certain bacteria in food products. It helps in extending the shelf life of processed food by preventing spoilage and maintaining product quality.

Challenges

Misconceptions Associated with Potassium Sorbate - Some consumers have concerns or misconceptions about the safety and health effects of preservatives. Misinformation or negative perceptions surrounding potassium sorbate can impact consumer acceptance and purchase decisions, leading to a decline in potassium sorbate market demand.
Competition from Other Alternatives
Volatile Price of Raw Material

Potassium Sorbate Segmentation

End User (Personal Care, Pharmaceutical, Food & Beverages)

The food & beverages sector is estimated to hold over 55% share of the potassium sorbate market in the year 2035, growing at a CAGR of approximately 4% over the forecast period. Potassium sorbate is commonly used in bakery products, such as bread, cakes, pastries, and cookies. It helps prevent the growth of mold and yeast, which can cause spoilage and affects the texture and flavor of baked goods. Moreover, it also helps in maintaining the freshness of juices, soda drinks, and others.

Application (Pharmaceutical Grade, Food Grade, Technical Grade)

Potassium sorbate market from the food grade segment is expected to collect a significant revenue of 46% in the year 2035. The rising use of readymade sauces, dressings, and ready-to-eat meals will drive the growth of the segment. Food-grade potassium sorbate is used in salad dressings and sauces for preserving the quality and flavor of these products. Moreover, it is also added to frozen foods, ready-to-eat meals, and canned goods to increase its shelf life.

Our in-depth analysis of the global market includes the following segments:

Type	Potassium Hydroxide Sorbic Acid
Application	Pharmaceutical Grade Food Grade Technical Grade
End User	Personal Care Pharmaceutical Food & Beverages

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Potassium Sorbate Industry - Regional Synopsis

North American Market Statistics

The potassium sorbate market in North America is projected to be the largest with a share of about 34% in the near future. The growth of the market can be attributed majorly to the rising consumption of canned food. Currently, around 98 percent of people in America have canned foods in their kitchens, with the average cupboard in the region containing 24 cans. Moreover, canned vegetables are also popular, with maize coming out on top. Approximately 63% of Americans own canned corn. Green canned beans and tomatoes come in second and third place, respectively.

European Market Forecast

The Europe potassium sorbate market is estimated to be the second largest, registering a share of about 26% between 2023 and 2035. The rising consumption of bread is expected to drive market growth in the region. In the European 27 countries, the overall consumption of viennoiserie, bread, and patisserie was around 39 million tonnes in recent years. Potassium sorbate is often added during the preparation of bread dough. It is typically mixed with dry ingredients such as flour, salt, and sugar before the addition of water and yeast.

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Companies Dominating the Potassium Sorbate Landscape

Corbion NV
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis

Kerry Group Plc
Shaowu Huaxin Chemical Co. Ltd.
Jiangbei Additive Co., Ltd.
Vigon International
CJ Chemicals
Twin Specialties Corp.
ChemCeed
Celanese Corporation
Dastech International Inc

In The News

Corbion NV launched a new state-of-the-art solution for increasing the efficiency of the operation, minimizing food waste, and providing better preservatives for increasing the shelf life of the product. It was launched at the International Baking Industry Exposition at the Las Vegas Convention Center. The consumer can sample the solution through customer services offered by 360 degree by Corbion.
Kerry Group Plc announced the agreement with Pilgrim’s Pride Corporation, to sell its consumer foods’ meats and meals business in the United Kingdom and Ireland for USD 875 million. In the UK and Ireland, the Meats company is a leading maker of branded ready-to-eat, meat snacks and private-label meats. Meal business of Kerry group primarily serves the need for frozen ready meals in UK.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the potassium sorbate market?

Ans: Increasing demand for packaged and processed food followed by rising attention towards food safety are the major factors driving the market growth.

2) What would be the CAGR of the potassium sorbate market over the forecast period?

Ans: The market size of potassium sorbate is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023 â€“ 2035.

3) Who are the major players dominating the potassium sorbate market?

Ans: The major players in the market are Kerry Group Plc, Shaowu Huaxin Chemical Co. Ltd., Jiangbei Additive Co.,Ltd., Vigon International, CJ Chemicals, Twin Specialties Corp, ChemCeed, Celanese Corporation, Dastech International Inc., and Corbion NV

4) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.

5) What are the segments in the potassium sorbate market?

Ans: The market is segmented by type, application, end user, and by region.

6) Which segment captures the largest market size in the end-user segment in the potassium sorbate market?

Ans: The food & beverage industry segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

7) What are the challenges affecting the market growth?

Ans: Unawareness about the benefits of potassium sorbate, and fluctuating process of raw material are estimated to be the growth hindering factors for the market expansion.

8) Which region will provide more business opportunities for the growth of the potassium sorbate market in the future?

Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

Potassium Sorbate Market Size & Share, by Type (Potassium Hydroxide, Sorbic Acid); Application (Pharmaceutical Grade, Food Grade, Technical Grade); End-user (Personal Care, Pharmaceutical, Food & Beverages) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035