A key factor driving the growth of the market is the increased demand for potassium sorbate in processed foods. In the food and beverages industry, potassium sorbate is used as a preservative to avoid the food from spoilage as its prime function is to prevent food and beverages from the growth of fungus, microbes, mold, and yeast. The high usage of potassium sorbates in the 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, also it is easily available and cost-effective.
This market research report on the global potassium sorbate market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing demand for clean label ingredients as one of the key emerging trends in the global potassium sorbate market:
Global potassium sorbate market: Increasing demand for clean label ingredients
Potassium sorbate is primarily used as a preservative and stabilizer to improve the shelf life of food products. It helps retain the freshness of packaged foods and beverages. FDA mandates to provide clean label ingredients for all the packaged food products, the use of such ingredients can promote the growth of the global potassium sorbate market.
“Consumers are shifting from processed food containing artificial and synthetic ingredients such as flavors, colorants, and preservatives to natural and organic food products owing to its health benefits. Producers are increasingly focusing on natural ingredients in food products to obey the regulations pertaining to clean labels. During the forecast period, the increasing focus on clean labeled packaged food products will increase the global consumption of potassium sorbate,” says a senior analyst at Technavio for research on additives, adhesives, and sealants.
Global potassium sorbate market: Segmentation analysis
This market research report segments the global potassium sorbate market by end-user (food and beverage, pharmaceuticals, and personal care and cosmetics) and geographical regions (APAC, EMEA, and the Americas).
The food and beverage segment held the largest market share in 2018, accounting for nearly 32% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
APAC led the market in 2018 with a market share of over 39%. This region is expected to dominate the market through 2023.
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Five Forces Analysis
- Regional comparison
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- Vendors covered
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- Competitive scenario
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