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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Sorbic Acid Market Outlook
The global sorbic acid market is expected to grow at a CAGR of 3% in the forecast period of 2024-2032.
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North America to Present Significant Growth Opportunities to the Sorbic Acid Industry
The United States is one of the leading regions in the global market for sorbic acid. In North America, the country accounts for the majority of the market share. Sorbic acid is considered safe for daily use by the U.S. Food and Drug Administration because it is not associated with cancer and other significant health problems, which is boosting the market growth in the region. The robust food and beverage industry in the region is enabling the growth of the sorbic acid industry. The market growth in North America is also aided by the rising consumption of processed and packaged food due to the rising living standards and busier lifestyles of the populous.
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Sorbic Acid: Market Segmentation
Sorbic acid and its mineral salts are organic compounds that naturally exist mainly as a food preservative. Sorbic acid was first isolated from Sorbus Aucuparia's unripe beers. It is an unsaturated fatty acid that has inhibitory impact on moulds, yeasts, and bacteria. It is also used in a wide variety of foodstuffs. In winemaking, sorbic acid is used along with sulphuric dioxide, which helps convert sorbic acid into alcohol, thereby negating the foul smell of ether.
Based on type, the market can be divided into:
- Polyhydroxyalkanoate (PHA)
- Activated Carbon
- Microcrystalline Cellulose (MCC)
- Phosphorous Chemicals
- Methyl Cellulose
- Carboxymethyl Cellulose (CMC)
- Ethyl Cellulose
- Succinic Acid
- Others
On the basis of application, the industry can be divided into:
- Food and Beverages
- Pharmaceuticals
- Industrial Chemicals
- Animal Feed
- Others
The regional markets for sorbic acid can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Demand from the Food and Beverage Industry Bolstering the Market Growth of Sorbic Acid
The global sorbic acid industry is significantly being driven by the rising demand from the food and beverage industry. The growing application of synthetic preservatives such as sorbic acid is expected to dominate the growth of the global sorbic acid market. The increased utilisation of convenience food items as the lifestyles change will drive the growth of the food and beverage industry, which will, in effect, lead to the development of the global sorbic acid industry. The increasing awareness about the quality preservative use of protein drinks in the sporting sector contributes to the growth of the demand for sorbic acid.
Key Industry Players in the Global Sorbic Acid Market
The report gives a detailed analysis of the following key players in the global sorbic acid market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Celanese Corporation
- WEGO Chemical Group
- Daicel Corporation
- Avatar Corporation
- Wanglong Tech Co.,Ltd.
- PT Halim Sakti Pratama
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global sorbic acid market is projected to grow at a CAGR of 3% between 2024 and 2032.
The market is being driven by the growing food and beverage sector, rising consumption of convenience food products, surging disposable incomes, the growing middle class population, and rising demand for preservative use in protein drinks in the sporting sector.
The key trends guiding the market growth include the growing consumption of processed and packaged food and the rising applications of synthetic preservatives.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading types of sorbic acid in the market are polyhydroxyalkanoate (PHA), activated carbon, microcrystalline cellulose (MCC), phosphorous chemicals, methyl cellulose, carboxymethyl cellulose (CMC), ethyl cellulose, and succinic acid, among others.
The significant applications of sorbic acid include food and beverages, pharmaceuticals, industrial chemicals, and animal feed, among others.
The major players in the market are Celanese Corporation, WEGO Chemical Group, Daicel Corporation, Avatar Corporation, Wanglong Tech Co.,Ltd., and PT Halim Sakti Pratama, among others.
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