NEW YORK, April 27, 2023 /PRNewswire/ -- The global potassium sorbate market size is estimated to increase by USD 57.87 million from 2022 to 2027. The market's growth momentum will be progressing at a CAGR of 5.38% during the forecast period. The market is driven by approvals from regulatory bodies and governments. Potassium sorbate is classified as a Generally Recognized As Safe (GRAS) ingredient by the FDA. Hence, it is considered safe to use as a preservative to increase the shelf life of dairy foods, baked food, fruits and vegetables, fat emulsion products, sugar and confectionery products, and meat. Similarly, the European Food Safety Authority (EFSA) has approved the use of potassium sorbate in food and cosmetics. Such regulatory clearances have increased the use of potassium sorbate in various end-user applications. These factors drive the growth of the market in focus. Discover some insights on the market size, historic period (2017-2021), and forecast (2023-2027) before buying the full report - Request a sample report

Global Potassium sorbate market – Vendor Analysis

The global potassium sorbate market is fragmented and is characterized by the presence of regional and global manufacturers. Vendors compete based on price, quality, technology, brand identity, and distribution. They compete on the vast geographical presence and large-scale production facilities. Small regional vendors also have significant market shares. The rivalry among vendors is intense. Therefore, vendors opt for pricing and marketing strategies to retain their existing market shares and seize new opportunities. High product differentiation further intensifies the competition in the market. The need for high initial investments and difficulty in adjusting to the regulatory scenario in the industry limit the entry of new entrants into the market. Some of the key vendors covered in the report include:

• Celanese Corp. - The company offers potassium sorbate, such as Nutrinova, for food, home, and personal care.

• Chemball HangZhou Chemicals Co. Ltd. - The company offers potassium sorbate in powder and granular forms.

• CNK Fragrances Pvt. Ltd. - The company offers potassium sorbate used for food preservatives in the form of powder.

• FBC Industries Inc. - The company offers potassium sorbate for the food and beverage industry.

• ATP Group

• BIMAL PHARMA PVT. LTD.

• 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.

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Global Potassium Sorbate Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on 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 growth in the food and beverages segment will be significant over the forecast period. 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. It is used in the preparation of hotcake syrups and milkshakes. Potassium sorbate is also used as a nourishment agent to increase the firmness of fruits and vegetables. Thus, the increasing use of potassium sorbate in the food and beverage industry is driving the growth of the segment.

Geography Overview
The report provides actionable insights and estimates the contribution of all regions to the growth of the global potassium sorbate market.

• North America will account for 36% of the market growth during the forecast period. The US FDA has approved the use of potassium sorbate in cosmetics and self-care products as well as pharmaceutical products. The growing prevalence of cardiovascular diseases has increased the demand for pharmaceutical products. Thus, the demand for potassium sorbate is consequently increasing in the region. In addition, vendors operating in the regional market are increasingly adopting new distribution channels, automation in the manufacturing process, digital technologies in supply chain operations, and changes in logistics and transportation. Such factors are driving the growth of the potassium sorbate market in North America.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions - Download a Sample Report

Global Potassium Sorbate Market – Market Dynamics

Key Trends – 

The growth of the packaged food and beverage industry is identified as the key trend in the market. Factors such as rising disposable income and changes in food habits have increased the demand for packaged food worldwide. The changes in lifestyles and the increasing focus on health and hygiene have also contributed to the growth of the packaged food and beverage industry. Potassium sorbate is widely used in the manufacture of packaged food, such as baked products, confectioneries, baby foods, and savories. Thus, the increasing demand for packaged food and beverages will propel the market growth over the forecast period.

Major challenges – 

The availability of substitutes is identified as the major challenge hindering the growth of the market. There are several substitutes for potassium sorbate, such as sodium benzoate, caustic potassium, calcium propionate, sodium sorbate, and other artificial preservatives. Sodium benzoate can be used as a food ingredient and preservative to increase the shelf life of food. Similarly, the demand for natural preservatives and artificial preservatives is increasing with the growing need to prevent food spoilage. In addition, cost advantages and enhanced performance offered by substitutes challenge the growth of the market in focus.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this potassium sorbate market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the potassium sorbate market between 2023 and 2027

• Precise estimation of the size of the potassium sorbate market and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the potassium sorbate market across North America, Europe, APAC, South America, and Middle East and Africa

• A thorough analysis of the market's competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of potassium sorbate market vendors

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Table of contents:

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

• 4.1 Global potassium sorbate market 2017 - 2021

• 4.2 End-user Segment Analysis 2017 - 2021

• 4.3 Geography Segment Analysis 2017 - 2021

• 4.4 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

• 5.1 Five forces summary

• 5.2 Bargaining power of buyers

• 5.3 Bargaining power of suppliers

• 5.4 Threat of new entrants

• 5.5 Threat of substitutes

• 5.6 Threat of rivalry

• 5.7 Market condition

6 Market Segmentation by End-user

• 6.1 Market segments

• 6.2 Comparison by End-user

• 6.3 Food and beverages - Market size and forecast 2022-2027

• 6.4 Pharmaceuticals - Market size and forecast 2022-2027

• 6.5 Personal care and cosmetics - Market size and forecast 2022-2027

• 6.6 Others - Market size and forecast 2022-2027

• 6.7 Market opportunity by End-user

7 Customer Landscape

• 7.1 Customer landscape overview

8 Geographic Landscape

• 8.1 Geographic segmentation

• 8.2 Geographic comparison

• 8.3 North America - Market size and forecast 2022-2027

• 8.4 Europe - Market size and forecast 2022-2027

• 8.5 APAC - Market size and forecast 2022-2027

• 8.6 South America - Market size and forecast 2022-2027

• 8.7 Middle East and Africa - Market size and forecast 2022-2027

• 8.8 US - Market size and forecast 2022-2027

• 8.9 Germany - Market size and forecast 2022-2027

• 8.10 China - Market size and forecast 2022-2027

• 8.11 UK - Market size and forecast 2022-2027

• 8.12 Canada - Market size and forecast 2022-2027

• 8.13 Market opportunity by geography

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape

• 10.3 Landscape disruption

• 10.4 Industry risks

11 Vendor Analysis

• 11.1 Vendors covered

• 11.2 Market positioning of vendors

• 11.3 Anant Pharmaceuticals Pvt. Ltd.

• 11.4 APAC Chemical Corp.

• 11.5 Celanese Corp.

• 11.6 Chemball HangZhou Chemicals Co. Ltd.

• 11.7 CNK Fragrances Pvt. Ltd.

• 11.8 FBC Industries Inc.

• 11.9 Hawkins Watts Ltd.

• 11.10 Jinneng Science and Technology Co. Ltd.

• 11.11 LUBON INDUSTRY Co. LTD.

• 11.12 REJOICE LIFE INGREDIENTS

• 11.13 SHANGHAI NICECHEM CO. LTD.

• 11.14 Spectrum Laboratory Products Inc.

• 11.15 Tianjin Haitong Chemical Industrial Co. Ltd.

• 11.16 Titan Biotech Ltd.

• 11.17 Wanglong Tech Co. Ltd.

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist

• 12.3 Currency conversion rates for US$

• 12.4 Research methodology

• 12.5 List of abbreviations

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