Potassium sorbate is a kind of salt or chemical that has wide applications in food and beverages as a preservative, as a chemical for industrial purpose and as a type of solution in personal care products. Demand of potassium sorbate in market is primarily increased in food industry where it has greater demand in preprocessed food. In terms of its functionality it is used as a preservative to avoid the food from spoilage as it prime function is to prevent food and beverages from growth of fungus, microbes, mold, yeast etc. The reason behind its excessive usage in food industry is because it does not make any effect in terms of taste, color and smell of food and protect the food from decomposition, which is driving the market growth in the near future.
Market Dynamics of Potassium Sorbate Market:
Increasing demand of processed food is one of the major driver behind the rising demand of potassium sorbate in global market. This driver is influencing food manufacturing companies to offer the products which has longer shelf life as it is used as preservative in their products. On the other side in terms of trends, mostly the potassium sorbate is gaining importance because of increase in consumption of baked food, processed fruits, vegetables and fast food products.. Excessive consumption of potassium sorbate causes health problems such as nutritional deficiencies, problems of vomiting, diarrhea etc. which may restrain the market growth in the near future.
Market Segmentation of Potassium Sorbate Market:
Potassium sorbate market is segmented on two different basis which includes types and application. As per the types it includes granule, powder and liquid form. Among these segments, granules segment contributes the largest market share. Market segment on the basis of application includes food & beverages, pharmaceutical products, personal care and industrial usage. Further the food & beverage segment is sub-segmented into bakery, dairy products, canned foods carbonated beverages, non-carbonated beverages & powdered mixes. Major demand of potassium sorbate is from the side of food processing industry followed by pharmaceutical and cosmetic sector.
On analyzing the demand of potassium sorbate, it is observed that highest percentage of its application is in canned fruit and vegetable products, canned meat, desserts and from dairy sector which includes products like cheese, ice-cream, yogurt etc. Results of pie chart show that majority of share in market of potassium is from food & beverage industry. It is due to increasing demand of processed food products among growing population in emerging economies of world. On the other side, potassium sorbate is also gaining demand in wine industry where it is used in fermentation process and it also used as a stabilizer in beverage industry to prevent the drinks from secondary fermentation and reinfection. Similarly in personal care products it is used in shampoo, lotion, cream etc. It is also used in industrial coatings to prevent the industrial products from fungus, yeast, mold etc.
Regional Outlook of Potassium Sorbate:
On the basis of geographical market segment, it is segmented into seven different regions: North America, Latin America, Eastern Europe, Western Europe, and Asia-Pacific region, Japan and Middle East and Africa. Asia-Pacific region is expected to be lucrative market. China is expected to account for major share in terms of volume contribution. On the other side in terms of consumption, U.S. is expected to be the largest consumer of potassium sorbate in the world followed by European region.
Key Market Players in Potassium Sorbate Market:
Major players in Potassium Sorbate are APAC Chemical Corporation, FBC Industries, Inc., Parchem fine & specialty chemicals, WANGLONG CHEMICALS, Sorbic International PLC, Jinneng Science and Technology Company Limited, ICIS, TENGZHOU AOLONGCHEMICAL CO., LTD. and Lubon Industry Co., Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players 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.