Global Potassium Sorbate Market 2019-2023
About this market
The increasing demand for clean label ingredients is likely to drive growth in the market. 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. Technavio’s analysts have predicted that the potassium sorbate market will register a CAGR of more than 4% by 2023.
Growing demand for potassium sorbate in processed foods
Potassium sorbate is very soluble in water as compared to sorbic acid. Potassium sorbate is widely used in the production of sweet white table wines, bakery products and many more. The increasing demand for confectionary, dairy, and frozen products, meat, and seafood can propel the growth of the potassium sorbate market.
Allergic reactions caused by potassium sorbate
The side effects and allergic caused by excessive consumption of potassium sorbate can pose a serious challenge to the potassium sorbate market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the potassium sorbate market during the 2019-2023, view our report.
The market appears to be concentrated and with the presence of few companies including APAC Chemical Corporation and Celanese the competitive environment is quite intense. Factors such as the increasing demand for clean label ingredients and the growing demand for potassium sorbate in processed foods, will provide considerable growth opportunities to potassium sorbate manufactures. APAC Chemical Corporation, Celanese, FBC Industries, JINNENG, Sorbic International, and Tengzhou Aolong Fine Chemical are some of the major companies covered in this report.
‘With the presence of a considerable number of companies, this market appears to be concentrated and with fewcompanies constantly focusing improving their market positions, the competitive environment among the players is quite intense. Manufacturers are increasingly focusing on natural ingredients in food products to conform to regulations pertaining to clean labels.’
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