According to Future Market Insights (FMI), the worldwide sorbic acid market is valued at US$ 62.2 million in 2023. It is anticipated to reach US$ 121.9 million by 2033. Over the forecast period 2023 to 2033, global sorbic acid demand is likely to increase at a CAGR of 7.0%.
Growing demand for packaged food products with extended shelf life and growing usage of sorbic acid as a safe and effective food preservative are key factors driving the market.
Sorbic acid is mostly used as a preservative in the food and beverage sector. It restricts the growth of microorganisms and also amplifies the shelf life of food products.
The demand for clean-label ingredients and natural food preservatives is gaining traction. This in turn is prompting companies to use preservatives such as sorbic acid.
Regulatory authorities such as EFSA and FDA have permitted the use of sorbic acid as a food additive with boundaries. High usage of this substance as a food preservative in a wide range of food products will therefore boost the target market.
Fundamentally, sorbic acid plays a crucial role in ensuring product quality and upholding food safety standards in the food and beverage sector.
The market is poised for substantial growth in the upcoming decade. This upward trajectory can be attributed to a multitude of factors, including the expansion of the food & beverage sector and an increasing preference among consumers for naturally sourced products.
There is also a surging demand for clean-label options and products with extended shelf life. This will further boost the target market.
The sorbic acid market comprises predominantly consolidated players who prioritize product quality and compliance with regulatory guidelines. Meanwhile, new entrants and smaller-scale players actively seek partnerships and collaborations with food manufacturers.
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Key Takeaways from the Sorbic Acid Report:
- The global sorbic acid market is expected to reach a valuation of US$ 121.9 million by 2033.
- Global demand for sorbic acid is likely to grow at 7.0% CAGR over the forecast period.
- Based on form, the powder sorbic acid segment is anticipated to reach a valuation of US$ 99.0 million by 2033.
- By application, the food and beverages segment is likely to exhibit 5.0% CAGR during the projection period.
- The United States is projected to reach a valuation of US$ 43.1 million by 2033.
- Germany is estimated to rise at 3.6% CAGR during the projection period.
“Growth of processed and convenience foods, regulatory approvals and compliance, and consumer demand for clean label and natural products to have a positive impact on the market growth. Sorbic acid manufacturers are following a strategic approach to meet market demand and ensure the production and supply of high-quality sorbic acid.” – says a lead analyst at Future Market Insights (FMI)
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Who is Winning?
ROSE FOODSTUFF CHEMISTRY COMPANY LIMITED, Solvay, Suzhou-Chem Inc., Celanese Corporation, Eastman Chemical Company, PT Halim Sakti Pratama, Ltd, Seidler Chemical Co. Inc., AVATAR CORPORATION, Prinova Group LLC, KIC Chemicals Inc., Continental Chemical USA, Wego Chemical & Mineral Corporation, and QINGDAO KAISON CHEMICALS CO. are key sorbic acid manufacturers listed in the report.
The presence of several competitors describes the competitive picture of the sorbic acid industry. To uphold superior product characteristics and meet regulatory factors, sorbic acid manufacturers concentrate on quality assurance.
Companies implement rigorous quality control methods, undertake periodic audits, and make certain that food safety rules and industry regulations are complied with. They are also using tactics such as capacity expansions, partnerships, mergers, collaborations, and acquisitions to expand their footprint. For instance,
- In August 2019, Prinova Group LLC was acquired by Nagase Group to expand its offerings and deliver consistent value to its customers globally.
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Sorbic Acid Market by Category
By Form:
- Powder
- Liquid
By Application:
- Food and Beverage
- Pharmaceuticals
- Nutraceuticals
- Cosmetics & Personal Care
- Pet Food
- Animal Feed
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & AfricaAbout Future Market Insights (FMI)Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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