The ‘Global Potassium Metabisulphite Market Size, Share, Price, Growth, Demand Report and Forecast 2022-2027’ by Expert Market Research gives an extensive outlook of the global potassium metabisulphite market, assessing the market on the basis of its segments like grades, applications, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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Potassium Metabisulphite Market Price, Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 3.0%
Potassium metabisulphite is extensively used as an antioxidant in beer and as a sulphurising agent in wine. Hence, the increasing popularity of these alcoholic beverages among the adult population is driving the market growth. In addition to this, potassium metabisulphite is also crucial in the brewing process for the removal of bacteria and fungi. In this regard, the thriving brewing industry is anticipated to be a major driving factor of the global potassium metabisulphite market in the forecast period.
Meanwhile, potassium metabisulphite is a successful preservative which increases the shelf life of food and beverage items such as lemon juice and pickles. Over the forecast period, the anticipated increase in demand for clean-labelled food products is likely to accelerate the demand for potassium metabisulphite.
Moreover, potassium metabisulphite is also utilised in the gold processing industry as the product separates gold from a solution of aqua regia. In the coming years, the anticipated increase in the demand for gold from expensive ornaments is likely to bolster the potassium metabisulphite market.
Regionally, Asia Pacific accounts for a weighty share in the market. The increasing demand for food preservatives for increasing the shelf life of popular food items such as savoury snacks, and fruit pickles, among others, is propelling the demand for the compound. Over the forecast period, the anticipated increase in sale of jewelleries and gold ornaments in countries like India, are anticipated to bolster the potassium metabisulphite market dynamics.
Potassium Metabisulphite Industry Definition and Major Segments
Potassium metabisulphite is defined as a chemical compound which is most commonly used as a reducing agent in formulations. It is found in white crystalline form and the odour of the compound is pungent. Density of potassium metabisulphite is 2.3 g/cm3 and it is extensively utilised in the photography sector for manufacturing photographic chemicals.
Based on grade, the market can be segmented into:
• Food Grade
• Pharma Grade
• Industrial Grade
The significant applications of the product include:
• Food Preservatives
• Gold Processing
• Photographic Chemicals
On the basis of region, the market can be categorised into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Potassium Metabisulphite Market Trends
The key trends in the global potassium metabisulphite market include the rising applications of potassium metabisulphite in the production of photographic chemicals. The growing craze for photography, owing to the increasing trend of modelling, wildlife exploration, and social media, among others, is likely to accelerate the demand for potassium metabisulphite.
Meanwhile, the thriving e-commerce industry is likely to be another crucial trend in the market which is anticipated to propel the sale of downstream products of potassium metabisulphite. Online food delivery platforms are likely to accelerate the sales figures of beverage products. This increase in sale is further anticipated to bolster the incorporation of potassium metabisulphite as antioxidant.
The flourishing textile industry is a major potassium metabisulphite market bolstering factor which is generating a significant demand for potassium metabisulphite for the purpose of dyeing garments and clothing. In addition to this, potassium metabisulphite is also used in cotton printing. In this regard, the increasing popularity of cotton t-shirts, pants, and suits, among others is likely to be a key trend garnering the market growth.
Furthermore, the growing research and development activities by the pharmaceutical industry are likely to boost the demand for pharma grade potassium metabisulphite. Additionally, potassium metabisulphite is used as an antioxidant for pharmaceutical drugs which enhances the safety of the product from free radicals and any other external damage.
Key Market Players
The major players in the potassium metabisulphite market report are:
- BASF SE
- Aditya Birla Group
- Alkaloid AD Skopje
- Esseco USA LLC
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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