Potassium Nitrite Market Outlook:
Potassium nitrite is a yellowish white crystalline solid or a compound formed of potassium and nitrogen, noncombustible and accelerates the burning of all combustible materials. It is used as a preservative in food and helps in the cleansing process by restricting the development of a harmful bacteria called botulism bacteria. Potassium nitrite is produced by combining ammonium nitrate and potassium chloride. It can also be manufactured by a neutralized mixture of nitric acid and potassium hydroxide.
Potassium nitrite is used for a number of purposes like food preservation especially in cured meats such as chorizo and cured bacon. It also gives the product a desirable pinkish-red color. The use of Potassium nitrite as a food preservative was approved by U.S. Food and Drug Administration. Potassium nitrite has a large number of end uses in the food and beverage industry, and is expected to experience good growth in the upcoming years.
Growing concerns for food safety, enhancing shelf stability of product and food technology has led to growth of potassium nitrite market:
The application of preservative in food and beverages is regulated for a number of reasons. The levels of nitrates and nitrites in meat are restricted because they can be converted in the stomach or during high temperature frying to chemicals understood to cause cancer.
The increasing awareness and demand for healthy food and healthcare products has resulted in increased demand for potassium nitrite. It is widely used in food products for preserving it against microbial agents. Meat and poultry cleansing is one of the oldest forms of food conservation till today. Potassium nitrite has shown extraordinary antimicrobial potency preventing the meat from spoilage and pathogenic microorganisms. Potassium nitrite primarily protects the meat from microbial bacteria. Meat with microbes present in it is harmful. Microbes cause chronic diseases like Arthritis, Asthma, Cancer, Alzheimer, among others. Also, the formation of color is one of the most critical quality traits of processed meat products. Furthermore, the increasing demand for high-quality meat offers substantial growth opportunities for players active in the field of Potassium nitrite market to provide a solution for the infected meat. The global Potassium nitrite market is expected to grow at a higher rate in the upcoming years.
Potassium nitrite is ingested in small quantities. Despite its substantial popularity in food preparation, it is important to tread very carefully when incorporating Potassium nitrite into your meal preparation. The National Center for Home Food Preservation have cited that a high Potassium nitrite content in food products can have harmful effects. The effects can be significantly more damaging when the individual is chronically exposed to the substance. Some of the more prominent symptoms of Potassium nitrite poisoning include irregular breathing, convulsions, a rapid heartbeat, dizziness or even a coma and death in the more severe cases. Children too should be kept away from Potassium nitrite preservative food additives, as they have been shown to cause dizziness and headaches in children. Potassium nitrite is also commonly used as a diuretic medicine while also being added to medicines that are commonly used to treat conditions like excessive back pain and joint pain. One of the most useful applications of Potassium nitrite is its benefits in the production of nitric acid with the addition of concentrated sulfuric acid to the aqueous solution of Potassium nitrite. The chemical is also widely used as a fertilizer and rocket propellant as well as in the production of smoke bombs because of the resulting effect when mixed with sugar to generate a cloud of smoke that is roughly about 600 times the volume of the actual bomb.
Global Potassium Nitrite Market: Market Segmentation
By product, the global Potassium nitrite market is segmented as:
- Agricultural Grade
- Food Grade
- Industrial Grade
- Medical Grade
By End-Use, the global Potassium nitrite market is segmented as:
- Food & Beverages
- Bakery & Confectionery
- Dairy Food Products
- Meat & Seafood
- Processed Foods
- Fats & Oil
By Region, the global Potassium nitrite market is segmented as:
- North America
- Latin America
- CIS & Russia
- Middle East Africa
- Asia-Pacific excluding Japan
Global Potassium Nitrite Market: Key Players
The key players operating in the global Potassium nitrite market are Haifa Chemicals, Migao, SQM, URALCHEM, Yara, COFERMIN Chemicals, Wentong Group, Tengda Industrial, YNCC, KEMPANCO, MC, YNCC, Yufeng, SNM, Barium and Chemicals, ICL, GFS Chemicals, Potash Corp, Qinghai salt lake among others. The companies are focusing on capturing the market opportunities through expansions & investment majorly through developing manufacturing facilities. Depending on the global market scenario and growing demand of Potassium nitrite, the companies have increased production capacities to meet the growing market demand. A few players have also driven down the market prices, forcing their competitors to follow suit in order to remain competitive in the market. Also, the global Potassium nitrite market is witnessing increased use in the general, pharmaceutical, and food industries.
Key Developments in the Potassium Nitrite global market:
In 2016, SQM (Sociedad Química y Minera de Chile S.A.) announced that the company has decided to enhance its production capacity of Potassium nitrite by 500,000 metric tons per year. This increase in production capacity brought the total capacity to 1.5 million tons per year approximately. To achieve this, SQM built a plant with an initial capacity of 300,000 metric tons. Also, they've been implementing new measures to expand the size of existing plants.
Opportunities for Potassium Nitrite Market Participants:
The global Potassium Nitrite market is looking promising for the period 2017-2021. The potential for the growth of the Potassium Nitrite market is quite high, due to its various applications. The Potassium Nitrite global market is run by population growth, increasing demand for vegetables and high-quality food. The population in regions such as Central America where the meat consumption is in abundance are consuming meat with Potassium Nitrite in it. If the same practice is adopted by other regions consuming a good amount of meat, it is likely to lead to global market growth.
Brief Approach to Research:
A modeling-based approach and triangulation methodology will be followed to estimate data covered in this report. A detailed market understanding and assessment of the applications, types, forms, and end uses of the product segments included in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global scale to estimate the overall market sizes.
Key Data Points Covered in the Report:
- An overview of the global Potassium Nitrite market including background and advancement.
- Macroeconomic factors affecting the Potassium Nitrite market and its potential.
- Market dynamics, such as drivers, challenges, and trends
- Detailed value chain analysis of the Potassium Nitrite market
- The cost structure of the Potassium Nitrite and segments covered in the study
- In-depth pricing analysis, by crucial Potassium Nitrite segments, regions and by major market participants
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports, and overall trade scenario
- Analysis of the market structure, including a tier-wise categorization of key market participants
- Competitive landscape of the market, including detailed profiles of the top players in this market
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.