Potassium Bromate: Market outlook
Regardless of growing at a comparatively sluggish pace, baked goods or bakery products still continue to provide substantial growth opportunities for retailers and manufacturers. Bread is one of the most consumed bakery product across the globe; factors including increasing urbanization, growing purchasing parity of consumer, rising millennials population, and breakfast needs are driving the demand for on-the-go food products such as bread. The slowly but steadily increasing bakery industry is pushing manufacturers to innovate and upscale their product offering by introducing flavored bread, sweetbreads, organic brads, non-GMO bread, and others. These variants are an effort by the bread manufacturers to fuel the market demand for bread and to cater a more extensive consumer base. The increasing demand for bread is anticipated to boost the market for oxidizing agent potassium bromate, used in the production process of breads. Potassium bromate is in the form of white crystals or powder used as a flour improver and dough enhancer for application in the baking industry. Potassium bromate is responsible for strengthening the dough and for enabling the high rise of the dough. Potassium bromate bleaches the bread dough and improves its elasticity by firming its molecular bridges network. The use of potassium bromate makes the end product soft, fluffy, and unnaturally white.
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Growing Demand for Bakery Products is Increasing the Market Prospects for Potassium Bromate
Potassium bromate is used as an oxidizing agent and flour improver in the breads and other bakery products. The market demand for potassium bromate is thus anticipated to have a considerable demand attributed to the growing market for baked products. Breads is witnessing a slow market growth with major driving forces being growing millennials demographic, rising per capita disposable income of the consumers, and increasing demand for on-the-go food category. Increasing market prospects for baked goods is anticipated to open ways for potassium bromate. Potassium bromate is used as an oxidizing agent and flour improver, however if and when used in larger amount than prescribed, potassium bromate is harmful for consumption. Thus it is recommended, that manufacturer should adhere to the prescribed usage level of the potassium bromate for processing their products. If the bread is not baked for longer duration or a proper temperature is not maintained then residual of potassium bromate is left in the end product, which is considered to be carcinogenic.
Potassium bromate market is witnessing a strong backlash as many countries including European Union, Brazil, Canada, Argentina, Nigeria, Peru, South Korea, Sri Lanka, China, India and some other countries have banned the usage for potassium bromate in food applications stating it to be harmful for consumption. However, United States still promotes the use of potassium bromate and declared it safe for consumption up to a prescribed level. Manufacturers using potassium bromate are expected to follow every rule and regulation laid down by the respective government and regulatory organization for maintaining the safety of their products.
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Global Potassium Bromate: Market Segmentation
On the basis of product type, global potassium bromate can be segmented as:-
On the basis of grade, global potassium bromate can be segmented as:-
Global Potassium Bromate: Key Players
Some the key players operating their business in the global potassium bromate market are Canton Chem, Inc., Merck KGaA, ANHUI MEISENBAO CHEMICAL CO., LTD., Dongying Bromate Chemicals, Jiangsu World Chemical Industry, and Xilong Scientific Co., Ltd. Among others
Opportunities for Potassium Bromate Market Participants:
The potassium bromate is anticipated to have a sluggish market in North America over the forecast period. The region is anticipated to have considerable market for potassium bromate owing to the increasing market for baked goods, increasing consumer demand for on-the-go food products, and rising variety of bread including flavored bread, sweet bread, and organic, vegan and non-GMO categories of bread. Besides, approval by the US Food and Drug Administration department for the usage of potassium bromate in baked goods is anticipated to push the demand for potassium bromate in the region over the forecast period. Manufacturers using potassium bromate in their food products are expected to strictly adhere to the good manufacturing practices and label their flour as “bromate flour” to maintain full transparency with the consumers. Besides, manufacturers should adhere to proper usage level of potassium bromate prescribed by various regulatory bodies and agencies to safeguard their baked goods.
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