Increasing demand for Europe Sorbates in online retails especially in the emerging nations coupled with high investments in RD of Europe Sorbates, are fueling the market growth.
The Global Europe Sorbates Market is forecast to reach USD 373.3 Million by 2027, according to a new report by Reports and Data. Europe Sorbates or (K-Sorbate) is an odorless partly hygroscopic crystalline common potassium salt of sorbic acid, which is manufactured by complete neutralization of sorbic acid with a high purity potassium carbonate or potassium bicarbonate and subsequent crystallization. Europe Sorbates is approved by the European Union (EU) and European Free Trade Association (EFTA) as a safe food additive with a distinctive E-Number of E202. The global market is growing at a substantial pace due to the growing demand for Europe Sorbates in food preserving applications as a fungistatic agent. Continuous expansion of the food beverage industries has directly influenced the growth of Europe Sorbates as this chemical is utilized in the food-grade applications such as fruits vegetables, pickles, fruit juices, dairy products, syrups, jams, sauerkraut, and dried fruits, to name a few and also in pharmaceutical alcoholic beverages.
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Top Lading Players: APAC Chemical Corporation, Sorbic International PLC, Celanese Corporation, Wanglong Chemicals, Parchem, Jinneng Science Technology Co. Ltd., FBC Industries Inc., Independent Chemical Information Service, Lubon Industry Co. Ltd., and Tengzhou Aolong Fine Chemical Co. Ltd., among others.
Some Key Highlights from the Report:
- Growing penetration of the online retailing businesses for the chemicals and materials, especially in the emerging nations in the Asia Pacific, is helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Also, due to the non-involvement of distributors in the supply chain model, the profit margin is way more than that of the offline retailing sales channel. The online retailing is expected to gain a market share of 33.9% by 2027.
- Europe Sorbates is used as food preservatives for its antimicrobial properties, which protects the food product from growing any fungi that can potentially spoil the quality and smell of the food. Europe Sorbates acidulant increases the shelf-life of the food. Food beverage items sub-segment had the highest market and growing with a CAGR of 3.9% during the forecast period.
- European region is forecasted to witness significant growth in the overall market, with 15.6% of market possession by 2027, having grown with a CAGR of 2.1% during the forecast period. The Netherlands holds some of the most prominent players in this region.
- North America, with its high demand for Europe Sorbates fungistatic agents antifoulants, is accounted to retain a significant position in the global market by 2027, and the CAGR is calculated to be 4.5% during the forecast period.
Segments covered in the report:
Distribution Channel Outlook (Revenue, USD Million; 2016-2027)
- Online Retailing
- Offline Retailing
Application Outlook (Revenue, USD Million; 2016-2027)
- Fungistatic Agent
- Antifoulants
- Buffering Agent
- Other Applications
End-Use Verticals Outlook (Revenue, USD Million; 2016-2027)
- Food Beverage Items
- Pharmaceutical Industry
- Personal Care Products
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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