Potassium Sorbate Price Trend

Potassium Sorbate Prices December 2023

Germany witnessed a mixed price trend in the potassium sorbate market during the last quarter of 2023. The food and beverage (F&B) industry's increased demand in October is the reason for the price increase. In addition, an oversupply on the market in November caused prices to drop. All things considered, the price of potassium sorbate reached 2640 USD/MT by the end of the quarter.

Potassium Sorbate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Potassium Sorbate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of potassium sorbate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of potassium sorbate at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of potassium sorbate price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing potassium sorbate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Potassium Sorbate Market Analysis

The global potassium sorbate market size reached US$ 181.4 Million in 2023. By 2032, IMARC Group expects the market to reach US$ 275.3 Million, at a projected CAGR of 4.70% during 2023-2032.

• The global demand for processed food is rising, which is driving market expansion. For instance, processed foods make up about 70% of diets in America. Furthermore, ultra-processed foods are 52 percent less expensive in the US than less processed counterparts, which contributes to their widespread use. A common preservative in processed foods such as baked goods, dairy products, canned fruits, and meats is potassium sorbate. Through its ability to inhibit the growth of bacteria, molds, and yeasts, this chemical also helps to protect the safety and quality of food during storage.
• The market is expanding because of consumers' growing awareness of health issues and their notable preference for natural products like potassium sorbate. It's a potassium salt version of sorbic acid, found naturally in berries, albeit synthetically synthesized. When contrasted to other artificial preservatives, this makes it more appealing. The Global Wellness Institute projected that the global wellness market would be valued at $5.6 trillion by 2022, a 14% increase over 2019 forecasts. The wellness industry benefited from $1079 billion in contributions from good eating, nutrition, and weight loss.
• The food and beverage (F&B) industry's growth is another significant driver bolstering the market share. A common and secure preservative in eateries, food stores, and fast-food businesses is potassium sorbate. Its demand is anticipated to increase in step with the planned global expansion of the food and beverage (F&B) industry. For example, consumer spending on food and drink rose by 21.5% across Europe. Furthermore, in 2022, the food and beverage industry in Europe reported an astounding turnover of Euro 1121 billion. Beyond this, industry estimates suggest that the Indian food processing industry will be valued at USD 470 billion by FY2025.
• Additionally, governments and authorities are being forced to revise their standards more frequently in order to maintain public health and safety as food safety regulations become increasingly stringent. Numerous regulatory agencies have acknowledged and approved potassium sorbate in this particular context, providing manufacturers with assurances regarding its safety profile and efficacy in impeding microbial development.
• The cosmetics and personal care industries are now using this ingredient because potassium sorbate can guarantee the stability and safety of skincare and haircare products. It is also prized for being gentle and non-irritating, which makes it appropriate for skin care products for delicate skin. The IMARC Group reports that the market for cosmetics and personal hygiene products is growing at a 4.5% yearly rate. It will have grown from US$ 506.2 billion in 2023 to US$ 759.3 billion by 2032. It is anticipated that the cosmetics industry will reach $618.7 billion at a 4.8% annual growth rate by 2032. Furthermore, the skincare industry is growing at a rate of 4% per year. Retail sales of skin and personal care products in Europe were estimated to reach Euro 88 billion in 2022.
• Beyond this, the demand for extended food product shelf lives has arisen from the growth of e-commerce and online grocery shopping. The ingredient potassium sorbate is essential to fulfilling this need. Projections from IMARC Group indicate that the e-commerce industry will reach a valuation of US$ 183.8 trillion by 2032, growing at a remarkable rate of 27.16% between 2024 and 2032.

Potassium Sorbate News

The report covers the latest developments, updates, and trends impacting the global potassium sorbate market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in potassium sorbate production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the potassium sorbate price trend.

Latest developments in the potassium sorbate industry:

• In June 2023, Celanese Corporation, a leading producer of sorbic acid and potassium sorbate preservatives, signed a definitive agreement with Mitsui & Co, to form a food ingredients joint venture under the name Nutrinova. Under this agreement, Celanese will retain 30 percent stakes, while Mitsui will acquire the remaining 70% stakes at a price of $472.5 million.

Product Description

Potassium sorbate (C6H7O2K) refers to a potassium salt having sorbate as the counterion. It is an odorless, tasteless, white-colored powder with different physical properties like molecular weight (150.22 g/mol), melting point (133 °C to 135 °C), and density (1.363 at 25 °C/20 °C).

It is produced by reacting sorbic acid with an equimolar portion of KOH. This results in potassium sorbate, which can be crystallized from aqueous ethanol. It is used as an antimicrobial agent, antioxidant, biocide, yeast inhibitor, and coloring adjunct. Additionally, potassium sorbate is used in pharmaceuticals, cosmetics, personal care products, pet care, drying oils, rubber, and coatings.

It prolongs the shelf-life of products and aids in preserving various qualities such as taste, smell, and appearance. Also, potassium sorbate does not accumulate in the body and is regarded as a safe ingredient by various national and international organizations, such as the United Nations Food and Agriculture Organization (FAO).

Regional Coverage

The report provides a detailed analysis of the potassium sorbate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the potassium sorbate price trend.

Global Potassium Sorbate Price

The report offers a holistic view of the global potassium sorbate pricing trends in the form of potassium sorbate price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of potassium sorbate but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed potassium sorbate demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Potassium Sorbate Price

The potassium sorbate market in Europe was influenced by numerous factors that impacted its price in the final quarter of 2023. Initially, the price surged because of rising demand from the downstream F&B sector. Additionally, November saw a decline in demand, resulting in a surplus supply of potassium sorbate. Also, the decrease in raw material costs further contributed to the decline in prices.

This analysis can be extended to include detailed potassium sorbate price information for a comprehensive list of countries.

North America Potassium Sorbate Price

In Q4 of 2023, the North American potassium sorbate market experienced a mixed trajectory. Initially, there was a price surge in October, followed by a decline in mid-quarter. By December, potassium sorbate prices rebounded due to the expanding manufacturing sector, increasing inflation, and improved business confidence.

Specific potassium sorbate historical data within the United States and Canada can also be provided.

Middle East and Africa Potassium Sorbate Price

The report explores the potassium sorbate pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on potassium sorbate prices for countries can also be provided.

Asia Pacific Potassium Sorbate Price

The potassium sorbate prices in Asia Pacific displayed notable fluctuations during the final quarter of 2023. Initially, there was an upward trend, followed by a decline in November and then a subsequent rebound at the end of the quarter. This was attributed to the surge in demand from importing regions and rising upstream costs.

This potassium sorbate price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Potassium Sorbate Price

The analysis of potassium sorbate prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of potassium sorbate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting potassium sorbate price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The potassium sorbate price charts ensure our clients remain at the forefront of the industry.