Potassium sorbate market size to grow by USD 57.87 million from 2022 to 2027; Growth driven by approvals from regulatory bodies and governments - Technavio

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
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 13: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global potassium sorbate market 2017 - 2021 
• Exhibit 17: Historic Market Size – Data Table on Global potassium sorbate market 2017 - 2021 ($ million)

• 4.2 End-user Segment Analysis 2017 - 2021 
• Exhibit 18: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.3 Geography Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.4 Country Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 21: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 22: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 23: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 24: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 25: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 26: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 27: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 28: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 29: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 30: Chart on Comparison by End-user
• Exhibit 31: Data Table on Comparison by End-user

• 6.3 Food and beverages - Market size and forecast 2022-2027 
• Exhibit 32: Chart on Food and beverages - Market size and forecast 2022-2027 ($ million)
• Exhibit 33: Data Table on Food and beverages - Market size and forecast 2022-2027 ($ million)
• Exhibit 34: Chart on Food and beverages - Year-over-year growth 2022-2027 (%)
• Exhibit 35: Data Table on Food and beverages - Year-over-year growth 2022-2027 (%)

• 6.4 Pharmaceuticals - Market size and forecast 2022-2027 
• Exhibit 36: Chart on Pharmaceuticals - Market size and forecast 2022-2027 ($ million)
• Exhibit 37: Data Table on Pharmaceuticals - Market size and forecast 2022-2027 ($ million)
• Exhibit 38: Chart on Pharmaceuticals - Year-over-year growth 2022-2027 (%)
• Exhibit 39: Data Table on Pharmaceuticals - Year-over-year growth 2022-2027 (%)

• 6.5 Personal care and cosmetics - Market size and forecast 2022-2027 
• Exhibit 40: Chart on Personal care and cosmetics - Market size and forecast 2022-2027 ($ million)
• Exhibit 41: Data Table on Personal care and cosmetics - Market size and forecast 2022-2027 ($ million)
• Exhibit 42: Chart on Personal care and cosmetics - Year-over-year growth 2022-2027 (%)
• Exhibit 43: Data Table on Personal care and cosmetics - Year-over-year growth 2022-2027 (%)

• 6.6 Others - Market size and forecast 2022-2027 
• Exhibit 44: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 45: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 46: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 47: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by End-user 
• Exhibit 48: Market opportunity by End-user ($ million)
• Exhibit 49: Data Table on Market opportunity by End-user ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview 
• Exhibit 50: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation 
• Exhibit 51: Chart on Market share by geography 2022-2027 (%)
• Exhibit 52: Data Table on Market share by geography 2022-2027 (%)

• 8.2 Geographic comparison 
• Exhibit 53: Chart on Geographic comparison
• Exhibit 54: Data Table on Geographic comparison

• 8.3 North America - Market size and forecast 2022-2027 
• Exhibit 55: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 8.4 Europe - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 8.5 APAC - Market size and forecast 2022-2027 
• Exhibit 63: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 8.6 South America - Market size and forecast 2022-2027 
• Exhibit 67: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 8.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 71: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 8.8 US - Market size and forecast 2022-2027 
• Exhibit 75: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on US - Year-over-year growth 2022-2027 (%)

• 8.9 Germany - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 8.10 China - Market size and forecast 2022-2027 
• Exhibit 83: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on China - Year-over-year growth 2022-2027 (%)

• 8.11 UK - Market size and forecast 2022-2027 
• Exhibit 87: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 8.12 Canada - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 8.13 Market opportunity by geography 
• Exhibit 95: Market opportunity by geography ($ million)
• Exhibit 96: Data Tables on Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 97: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 98: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 99: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 100: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 101: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 102: Matrix on vendor position and classification

• 11.3 Anant Pharmaceuticals Pvt. Ltd. 
• Exhibit 103: Anant Pharmaceuticals Pvt. Ltd. - Overview
• Exhibit 104: Anant Pharmaceuticals Pvt. Ltd. - Product / Service
• Exhibit 105: Anant Pharmaceuticals Pvt. Ltd. - Key offerings

• 11.4 APAC Chemical Corp.
• Exhibit 106: APAC Chemical Corp. - Overview
• Exhibit 107: APAC Chemical Corp. - Product / Service
• Exhibit 108: APAC Chemical Corp. - Key offerings

• 11.5 Celanese Corp.
• Exhibit 109: Celanese Corp. - Overview
• Exhibit 110: Celanese Corp. - Business segments
• Exhibit 111: Celanese Corp. - Key offerings
• Exhibit 112: Celanese Corp. - Segment focus

• 11.6 Chemball HangZhou Chemicals Co. Ltd. 
• Exhibit 113: Chemball HangZhou Chemicals Co. Ltd. - Overview
• Exhibit 114: Chemball HangZhou Chemicals Co. Ltd. - Product / Service
• Exhibit 115: Chemball HangZhou Chemicals Co. Ltd. - Key offerings

• 11.7 CNK Fragrances Pvt. Ltd. 
• Exhibit 116: CNK Fragrances Pvt. Ltd. - Overview
• Exhibit 117: CNK Fragrances Pvt. Ltd. - Product / Service
• Exhibit 118: CNK Fragrances Pvt. Ltd. - Key offerings

• 11.8 FBC Industries Inc.
• Exhibit 119: FBC Industries Inc. - Overview
• Exhibit 120: FBC Industries Inc. - Product / Service
• Exhibit 121: FBC Industries Inc. - Key offerings

• 11.9 Hawkins Watts Ltd.
• Exhibit 122: Hawkins Watts Ltd. - Overview
• Exhibit 123: Hawkins Watts Ltd. - Product / Service
• Exhibit 124: Hawkins Watts Ltd. - Key offerings

• 11.10 Jinneng Science and Technology Co. Ltd. 
• Exhibit 125: Jinneng Science and Technology Co. Ltd. - Overview
• Exhibit 126: Jinneng Science and Technology Co. Ltd. - Product / Service
• Exhibit 127: Jinneng Science and Technology Co. Ltd. - Key offerings

• 11.11 LUBON INDUSTRY Co. LTD. 
• Exhibit 128: LUBON INDUSTRY Co. LTD. - Overview
• Exhibit 129: LUBON INDUSTRY Co. LTD. - Product / Service
• Exhibit 130: LUBON INDUSTRY Co. LTD. - Key offerings

• 11.12 REJOICE LIFE INGREDIENTS 
• Exhibit 131: REJOICE LIFE INGREDIENTS - Overview
• Exhibit 132: REJOICE LIFE INGREDIENTS - Product / Service
• Exhibit 133: REJOICE LIFE INGREDIENTS - Key offerings

• 11.13 SHANGHAI NICECHEM CO. LTD. 
• Exhibit 134: SHANGHAI NICECHEM CO. LTD. - Overview
• Exhibit 135: SHANGHAI NICECHEM CO. LTD. - Product / Service
• Exhibit 136: SHANGHAI NICECHEM CO. LTD. - Key offerings

• 11.14 Spectrum Laboratory Products Inc. 
• Exhibit 137: Spectrum Laboratory Products Inc. - Overview
• Exhibit 138: Spectrum Laboratory Products Inc. - Product / Service
• Exhibit 139: Spectrum Laboratory Products Inc. - Key offerings

• 11.15 Tianjin Haitong Chemical Industrial Co. Ltd. 
• Exhibit 140: Tianjin Haitong Chemical Industrial Co. Ltd. - Overview
• Exhibit 141: Tianjin Haitong Chemical Industrial Co. Ltd. - Product / Service
• Exhibit 142: Tianjin Haitong Chemical Industrial Co. Ltd. - Key offerings

• 11.16 Titan Biotech Ltd.
• Exhibit 143: Titan Biotech Ltd. - Overview
• Exhibit 144: Titan Biotech Ltd. - Product / Service
• Exhibit 145: Titan Biotech Ltd. - Key offerings

• 11.17 Wanglong Tech Co. Ltd. 
• Exhibit 146: Wanglong Tech Co. Ltd. - Overview
• Exhibit 147: Wanglong Tech Co. Ltd. - Product / Service
• Exhibit 148: Wanglong Tech Co. Ltd. - Key offerings

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 149: Inclusions checklist
• Exhibit 150: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 151: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 152: Research methodology
• Exhibit 153: Validation techniques employed for market sizing
• Exhibit 154: Information sources

• 12.5 List of abbreviations 
• Exhibit 155: List of abbreviations

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