Increasing alcoholic and non-alcoholic beverage consumption worldwide to drive potassium metabisulfite market over the forecast period
ROCKVILLE, Md., Nov. 17, 2022 /PRNewswire/ -- According to Fact.MR, a market research and competitive intelligence provider, the global potassium metabisulfite market is estimated at US$ 393.9 million in 2022 and is predicted to expand at a CAGR of 4.4% during the forecast years of 2023-2033.
Apart from the wine industry, potassium metabislufite is widely used for the preservation of juices and pickle. Its properties such as a bleaching agent makes it suitable for use in coconut cream production. It can also be used as an alternative to sodium metabisulfite as it is disulfite. It is also used as an alternative to sodium sulfite to precipitate gold from solution of aqua regia.
The food and beverage industry holds a majority of the share of the potassium metabisulfite market. Along with use in food and beverages, potassium metabisulfite is also used in the textile industry, water filtration, and in the photographic chemical industry.
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Key Takeaways from Market Study
- The global potassium metabisulfite market is expected to be valued at US$ 605.8 million by 2033, expanding at a CAGR of 4.4%
- The market exhibited 1.9% CAGR from 2018 to 2022
- Under application, food processing dominates the market and is expected to be valued at US$ 280.8 million in 2023.
- North America dominated the global market with a share of 26.2% in 2022.
- Wine and juice & pickle preservation is expected to dominate the market after representing 46.1% market share in 2022.
Market Development
With an increase in demand from the wine industry, global players in the market are trying increase their production capacities and are focusing on strategic partnerships with wine-making companies. Players are also trying to enter into emerging markets where demand for potassium metabisulfite is increasing from various end-use applications such as juice preservation, coconut production, dehydrated food preservation, etc.
Market players are focusing on reducing the harmful effects of potassium metabisulfite. It may be harmful if swallowed or inhaled and can cause an allergic reaction if inhaled or swallowed by asthmatic and other sulphite-sensitive individuals.
Key Companies Focused by Fact.MR in this Report
- Aditya Birla Group
- Alkaloid AD skopje
- American Elements
- Anmol Chemicals Group
- BASF SE
- Esseco Group
- Foodoric Group of Cos
- Jay Dinesh Chemicals
- Juan Messina S.A
- Shakti Chemicals
- Laffort
- Triveni Chemicals
- Vynova
- Kodia Company Ltd.
Competitive landscape highlights only certain player's complete list available upon request
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More Valuable Insights on Potassium Metabisulfite Market
In the latest study, Fact.MR offers a 360-degree view of the global potassium metabisulfite market for the forecast period of 2023 to 2033. The report also highlights key factors such as recent developments and growth drivers influencing sales in the potassium metabisulfite market through detailed segmentation as follows:
- By Form:
- Liquid
- Solid
- By Grade:
- Technical Grade
- Food Grade
- Industrial Grade
- By Function:
- Preservative
- Bleaching Agent
- Antioxidant
- Intermediate
- Others
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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