Potassium Metabisulfite Market Size Assessment & Opportunity Forecast 2022-2031

Shibuya-ku, Tokyo, Japan, Japan, May 26, 2022, 06:06 /Comserve / -- Potassium Metabisulfite Market size, share, growth, trends, segmentation, top key players, strategies, demand, statistics, sales, current scenario, competitive landscape and forecast.

The market for Potassium Metabisulfite is expected to grow at a CAGR of over 4% during the forecast period. Major factors driving the market studied are growing demand in food preservatives and beer industries and increasing usage in textiles industry. On the flipside, presence of substitutes such as sodium and ammonium metabisulfite and unfavourable conditions arising due to COVID-19 outbreak are the major restraints, which are expected to hinder the growth of market.

- Growing application of potassium metabisulfite in photographic chemicals is expected to offer various lucrative opportunities for the growth of market.
- By application, food & beverages segment is expected to dominate the market owing to the increase in the usage of potassium metabisulfite due to its antioxidant properties.
- Europe region dominated the market across the globe with the largest consumption from countries such as Germany and United Kingdom.

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Key Market Trends

Increasing Demand from Food & Beverage Segment

- Potassium metabisulfite, also called as potassium pyrosulfite, is a white crystalline powder having pungent odour. It has a monoclinic crystal structure due to which it gives potassium sulfite and sulfur dioxide on decomposition.
- The growing use of potassium metabisulfite as an additive in wine owing to its antioxidant properties is stimulating the demand of potassium metabisulfite. During the process of wine making, potassium metabisulfite reacts to form sulfur dioxide which helps to protect the color and delicate flavors of wine.
- Potassium metabisulfite is also used in brewing industry, as a stabilizer, to prevent the growth of bacteria and fungi. It also added to tap water during the process of disinfection for neutralizing monochloramine.
- Additionally, potassium metabisulfite is also used as food preservative in lemon juice and pickles, which is increasing the demand of potassium metabisulfite and propelling its market.
- The revenue from the food & beverage segment is estimated at USD 76,647 million in 2020. Revenue is expected to show a CAGR of over 8% and is expected to reach USD 105,898 million by 2024.
- Owing to all the above-mentioned factors for potassium metabisulfite, its market is expected to grow rapidly over the forecast period.

Europe Region to Dominate the Market

- Europe region is expected to dominate the market for potassium metabisulfite during the forecast period. In countries like United Kingdom and Germany owing to large consumer base due to increasing youth population and their dependence on beer and other alcoholic drinks, the demand for potassium metabisulfite has been increasing in the region.
- The rising demand of potassium metabisulfite in food & beverages as antioxidant and food preservative is boosting the potassium metabisulfite market in the region.
- Apart from the usage in food & beverages sector, potassium metabisulfite is also used in textile industry for cotton printing and dyeing, which is further aiding its market growth.
- Additionally, potassium metabisulfite is sometimes used as an alternative for sodium metabisulfite to precipitate gold from the solution in aqua regia.
- Furthermore, the other uses of potassium metabisulfite includes, usage as a component for certain photographic developers and solutions used in photographic fixing, usage as a bleaching agent in the production of coconut cream, and usage in some pickles as a preservative.
- Europe is the major producer and consumer of wine with more than 55% of the consumption share of wine, owing to which there is surge in the demand of potassium metabisulfite in the region.
- Europe alcoholic beverage market is expected to register a CAGR of over 3% during the forecast period which would provide lucrative opportunities for the potassium metabisulfite market to grow in the near future.
- Some of the major companies operating in Europe region are – LAFFORT, Alkaloid AD Skopje., and BASF SE.
- The aforementioned factors, coupled with government support, are contributing to the increasing demand for potassium metabisulfite during the forecast period.

Competitive Landscape

The potassium metabisulfite market is fragmented with top players accounting for a marginal share of the market. Major companies in the market include Aditya Birla Chemicals, BASF SE, Murphy & Son Limited, LAFFORT, and Alkaloid AD Skopje.

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1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand in the Food Preservatives and Beer Industry
4.1.2 Increasing Usage in Textiles Industry
4.2 Restraints
4.2.1 Presence of Substitutes
4.2.2 Unfavourable Conditions Arising Due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5 MARKET SEGMENTATION
5.1 Application
5.1.1 Food & Beverage
5.1.2 Textiles
5.1.3 Gold Processing
5.1.4 Pharmaceuticals
5.1.5 Photographic Chemicals
5.1.6 Others
5.2 Geography
5.2.1 Asia-Pacific
5.2.1.1 China
5.2.1.2 India
5.2.1.3 Japan
5.2.1.4 South Korea
5.2.1.5 Rest of Asia-Pacific
5.2.2 North America
5.2.2.1 United States
5.2.2.2 Canada
5.2.2.3 Mexico
5.2.3 Europe
5.2.3.1 Germany
5.2.3.2 United Kingdom
5.2.3.3 Italy
5.2.3.4 France
5.2.3.5 Rest of Europe
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle-East and Africa
5.2.5.1 Saudi Arabia
5.2.5.2 South Africa
5.2.5.3 Rest of Middle-East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Aditya Birla Chemicals
6.4.2 Alfa Aesar
6.4.3 Alkaloid AD Skopje.
6.4.4 BASF SE
6.4.5 Esseco USA LLC
6.4.6 EVER s.r.l.
6.4.7 Jay Dinesh Chemicals
6.4.8 LAFFORT
6.4.9 Murphy & Son Limited
6.4.10 Ram-Nath & Co.PVT.LTD.
6.4.11 Shakti Chemicals
6.4.12 Shalibhadra Group
6.4.13 Shandong Minde chemical co., LTD
6.4.14 Triveni chemicals.
6.4.15 VWR International, LLC. (Avantor,Inc.)

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Application in Photographic Chemicals
7.2 Other Opportunities

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