Insights on the Sorbic Acid Global Market to 2030 - by Form, Application and Geography

Dublin, March 31, 2021 (GLOBE NEWSWIRE) -- The "Sorbic Acid Market Research Report: By Form (Powdered, Encapsulated), Application (Food & Beverages, Industrial Chemicals, Pharmaceuticals) - Global Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

Economic growth is leading to the increasing spending power of people, which is driving a shift in worldwide food consumption patterns. As a result, the sale of cheeses, wines, fresh produce, baked products, and refrigerated meats is rising. This is why the global sorbic acid market is predicted to grow from $347,661.0 thousand in 2019 to $521,126.7 thousand in 2030, at a 4.7% CAGR between 2020 and 2030.

This is because sorbic acid is used to prevent the growth of mold, which is one of the biggest reasons behind food spoilage. This is why the sorbic acid market is being particularly propelled by the increasing cheese and wine consumption. For instance, from 2018, worldwide cheese consumption rose by 2.3% to reach $114.1 billion in 2019. Similarly, compared to 241 million hectoliters in 2014, 246 million hectoliters of wine were drunk in 2018.

Despite the COVID-19 pandemic, the sorbic acid market hasn't been impacted much. This is because of the significance of this compound in the food & beverages and pharmaceutical industries, which kept growing during the crisis. As food and medical drugs are considered essential commodities, their production and trade received support from governments worldwide, which kept driving the demand for sorbic acid.

Sorbic Acid Market Segmentation Analysis

In the years to come, the faster growth in the sorbic acid market, on the basis of form, will be witnessed by the encapsulated bifurcation. The acid in this form can be directly mixed in food products while they are still in the dough stage. When used for baked goods, sorbic acid offers the advantage of not killing the yeast, which is important for the dough and the baked product to rise and become fluffy.

The food & beverages category held the largest share in the sorbic acid market in the past, based on application, as the compound is widely used in this industry to kill contaminating bacteria. This is why sorbic acid is added in substantial volumes to dried fruits, cheeses, pet foods, yogurt, soft drinks, dried meats, and baked goods to increase their shelf life.

Till now, Asia-Pacific (APAC) has been the largest sorbic acid market, and it is also expected to observe the fastest rise in the usage of this compound in the coming years. The growing food & beverages and pharmaceutical industries in Japan, China, India, South Korea, and Australia are leading to the increasing demand for sorbic acid. Moreover, as people in these countries prosper, the consumption of processed food will rise, thereby driving the market.

The most-prominent companies in the global sorbic acid market include Shandong Hongda Biotechnology Co. Ltd., Jinneng Science and Technology Company Ltd., APAC Chemical Corporation, RuGao ChangJiang Food Co. Ltd., Anmol Chemicals Group, Advanced Inorganics, Nantong Acetic Acid Chemical Co. Ltd., Celanese Corporation, Daicel Corporation, and Wanglong Tech Co. Ltd.

Key Topics Covered:

Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Form
1.3.2 Market Segmentation by Application
1.3.3 Market Segmentation by Region
1.3.4 Analysis Period
1.3.5 Market Data Reporting Unit
1.3.5.1 Volume
1.3.5.2 Value
1.4 Key Stakeholders

Chapter 2. Research Methodology
2.1 Secondary Research
2.1.1 Paid
2.1.2 Unpaid
2.1.3 Publisher Database
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By region
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Assumptions for the Study
2.7 Notes & Caveats

Chapter 3. Executive Summary

Chapter 4. Industry Outlook
4.1 Voice of Industry Experts/KOLs
4.2 Definition of Market Segments
4.2.1 By Form
4.2.1.1 Powdered
4.2.1.2 Encapsulated
4.2.2 By Application
4.2.2.1 Food & beverages
4.2.2.2 Industrial chemicals
4.2.2.3 Pharmaceuticals
4.2.2.4 Others
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Shifting of production base to China
4.3.2 Drivers
4.3.2.1 Change in global food consumption patterns
4.3.2.2 Rapid growth in the pharmaceutical sector in APAC
4.3.2.3 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Availability of substitutes
4.3.3.2 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Unexplored market potential in the African region
4.4 Impact of COVID-19
4.4.1 Global Manufacturing Output
4.4.1.1 Contribution of countries toward global manufacturing output
4.4.1.2 Contribution of countries toward global export and import (2019)
4.4.1.2.1 Top 20 countries by export
4.4.1.2.2 Top 20 countries by import
4.4.2 Global Scenario of COVID-19 Impact
4.4.2.1 Global GDP growth
4.4.2.2 Assessment of COVID-19 impact on GDP and economic forecast
4.4.3 Impact of COVID-19 on Global Sorbic Acid Market
4.5 Value Chain Analysis
4.6 Regulatory Framework Analysis
4.6.1 U.S.
4.6.2 European Union (EU)
4.6.3 Japan
4.6.4 Australia and New Zealand
4.7 Production Process Analysis
4.8 Production Capacity of Global Players
4.9 Export Import Analysis
4.9.1 U.S.
4.9.2 China
4.9.3 Major Sorbic Acid-Importing Countries for China
4.10 Cost of Production
4.11 Porter's Five Forces Analysis
4.11.1 Bargaining Power of Buyers
4.11.2 Bargaining Power of Suppliers
4.11.3 Intensity of Rivalry
4.11.4 Threat of New Entrants
4.11.5 Threat of Substitutes

Chapter 5. Global Market Size and Forecast 65
5.1 By Form
5.2 By Application
5.3 By Region

Chapter 6. North America Market Size and Forecast
6.1 By Form
6.2 By Application
6.3 By Country

Chapter 7. Europe Market Size and Forecast
7.1 By Form
7.2 By Application
7.3 By Country

Chapter 8. APAC Market Size and Forecast
8.1 By Form
8.2 By Application
8.3 By Country

Chapter 9. ROW Market Size and Forecast
9.1 By Form
9.2 By Application
9.3 By Country

Chapter 10. Major Markets
10.1 China Market Size and Forecast
10.1.1 By Form
10.1.2 By Application
10.2 U.S. Market Size and Forecast
10.2.1 By Form
10.2.2 By Application
10.3 Japan Market Size and Forecast
10.3.1 By Form
10.3.2 By Application
10.4 Germany Market Size and Forecast
10.4.1 By Form
10.4.2 By Application

Chapter 11. Competitive Landscape
11.1 Market Share Analysis of Key Players
11.2 Competitive Benchmarking of Key Players
11.3 List of Other Players

Chapter 12. Company Profiles
12.1 Jinneng Science and Technology Company Ltd.
12.1.1 Business Overview
12.1.2 Product and Service Offerings
12.2 Shandong Hongda Biotechnology Co. Ltd.
12.2.1 Business Overview
12.2.2 Product and Service Offerings
12.3 RuGao ChangJiang Food Co. Ltd.
12.3.1 Business Overview
12.3.2 Product and Service Offerings
12.4 APAC Chemical Corporation
12.4.1 Business Overview
12.4.2 Product and Service Offerings
12.5 Advanced Inorganics
12.5.1 Business Overview
12.5.2 Product and Service Offerings
12.6 Anmol Chemicals Group
12.6.1 Business Overview
12.6.2 Product and Service Offerings
12.7 Celanese Corporation
12.7.1 Business Overview
12.7.2 Product and Service Offerings
12.7.3 Key Financial Summary
12.8 Nantong Acetic Acid Chemical Co. Ltd.
12.8.1 Business Overview
12.8.2 Product and Service Offerings
12.9 Wanglong Tech Co. Ltd.
12.9.1 Business Overview
12.9.2 Product and Service Offerings
12.10 Daicel Corporation
12.10.1 Business Overview
12.10.2 Product and Service Offerings
12.10.3 Key Financial Summary

Chapter 13. Appendix

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