Sorbic Acid Potassium Salt Market

Market Overview

The Global Sorbic Acid Potassium Salt Market Size is projected to grow at CAGR of approximately 4.5% during the forecast period.

The sodium and potassium salts of sodium are dissolved in water to create the common salt known as sorbic acid. This chemical compound has special qualities that make it helpful as an antiseptic and for sterilizing equipment. As a result, it is utilized for a range of purposes.
Sulfuric acid is used by hospitals and surgical centers all over the world to sterilize medical equipment. It is also used in the food sector to lower the quantity of germs that may be present in some goods, notably those that are preserved or processed. The product that uses this ingredient the most frequently is baking soda. Substitutes for salt and white vinegar are frequently made using it. 

The COVID-19 pandemic is expected to cause the worldwide sorbic acid market to steadily grow. The COVID-19 pandemic is expected to have a short-term effect on market growth even though it is anticipated that sorbic acid consumption would decline in contrast to that in 2019. Despite the continuing COVID-19 dilemma, the food and beverage industry continue to be the main driver of sorbic acid demand. Furthermore, because these operations are not subject to lockdown regulations in many countries, it is expected that they will carry on during the epidemic.

Market Dynamics

Market Drivers

Throughout the course of the projection period, there is anticipated to be a growth in demand for sorbic acid due to its broad usage in food, beverage, and pharmaceutical applications.

Market Restraints

Side effects from sorbic acid use are frequent. An allergic contact dermatitis may sometimes happen after using a cosmetic cream that contains sorbic acid on the skin. Sometimes handling sorbic acid in its pure, unadulterated form might have dangerous effects. This is likely to restrict the demand for sorbic acid during the estimated time frame.

Market Opportunities

Sorbic acid use has continuously grown, particularly in the food and beverage industry. Other industrial sectors, including those in the cosmetics and personal care, pharmaceutical, animal feed, and chemical industries, are anticipated to offer exciting business opportunities, even though the food and beverage sector is anticipated to offer a haven for market participants in the sorbic acid space.

Market Scope

Segmental Analysis

Segmentation By Type

• Food Grade

After being examined, assessed, and sorted, food is graded based on its quality, freshness, legal compliance, and market worth. Food grading is the evaluation and classification of foods, and is often carried out manually. Additionally, food grading equipment is used, and this may include categorizing goods based on their size, shape, and quality.

• Pharma Grade

Any active or inactive drug, biologic, reagent, etc. that was produced using good manufacturing practices (GMP) or for which a chemical purity standard has been written or established by a recognized compendia (such as the United States Pharmacopeia-National Formulary (USP/NF) or British Pharmacopeia (BP)) must receive FDA approval, conditional approval, or indexing.

Segmentation By Application

• Food and Beverages

During the forecast period, the food and beverage sector is anticipated to rule the worldwide sorbic acid market. Foods and beverages include dairy, meat, fish, vegetables, fruits, baked goods, emulsions, wine, and fruit drinks all employ sorbic acid as a preservative. Broad antibacterial range of action, absence of impact on food's organoleptic qualities, excellent activity in less acidic circumstances (compared to propionate or benzoate), and safety are all benefits of using sorbic acid in food and drinks.

• Pharmaceuticals

Globally, the pharmaceutical industry has been expanding. According to the India Brand Equity Foundation (IBEF), the domestic pharmaceutical market's revenue climbed by 9.8% to US$ 20.03 billion in 2019 from US$ 18.12 billion in 2018. The Indian government is likewise working to develop that nation's pharmaceutical sector. For instance, India wants to create a fund for indigenous pharmaceutical component production valued around US$ 1.3 billion by 2023. So it is anticipated that the need for preservatives like sorbic acid, which helps prevent the growth of germs, would rise as the pharmaceutical business expands. This will probably lead to an increase in sorbic acid consumption globally.

• Personal Care

The term "personal care" encompasses a wide range of activities that aim to improve an individual's sense of well-being, including assistance with dressing, grooming, and toileting. Bathing, showering, or even taking a bath in bed, is one example of personal care. Other examples include helping someone get dressed and ready for bed, brushing their teeth, or changing a soiled diaper.

Regional Analysis

The Global Sorbic Acid Potassium Salt Market is segmented by region as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

In terms of demand, the United States has led the global sorbic acid market since a few years ago. This country controls more than 85% of the sorbic acid market in North America.

North America is estimated to dominate the worldwide market for sorbic acid during the forecasted period. Since sorbic acid hasn't been linked to any significant health issues like cancer, the U.S. Food and Drug Administration considers it safe for everyday usage. Some people may have allergic reactions to sorbic acid, although these are often mild and only result in minor skin discomfort.

Key Players

1. Mil-Spec Industries
2. BariteWorld
3. Haviland Enterprises, Inc.
4. Hydrite Chemical Co.
5. Gusmer Enterprises
6. Seidler Chemical
7. Daicel Chemical Industries
8. Wanglong Chemicals
9. FBC Industries
10. Kailash Chemicals
11. Nantong Acetic Acid Chemical
12. Lubon Industry