Sorbic Acid Prices

Sorbic Acid Prices September 2024

The sorbic acid prices in the United States for Q3 2024 reached 3120 USD/MT in September. The prices in the U.S. rose sharply due to increased demand and tight supply. Higher production and energy costs, in addition to supply chain disruptions, fueled these hikes. Anticipatory purchases before planned plant closures added to the pressure. Seasonal shifts and currency changes supported this trend, leading to a stable quarter-on-quarter price growth.

During the third quarter of 2024, China’s market experienced strong price volatility, driven by global demand and restricted product accessibility. Seasonal factors, supply chain challenges, and international pricing pressures influenced this trend. The market closed the quarter with a steady rise, reflecting positive regional activity and sustained high demand. Approaching the end of the third quarter, prices reached 2970 USD/MT, showing the market's upward momentum.

Germany faced major price hikes in Q3 2024, driven by significant demand and supply constraints. Seasonal factors led to increased consumption of food excipients, while increasing freight costs and stricter regulatory measures added to the price pressure. The stronger Euro enhanced domestic spending capacity, sustaining price momentum. By the end of the quarter, prices settled at 3187 USD/MT, underscoring the market’s continued upward trend.

Sorbic Acid Prices December 2023

The sorbic acid prices in the United States for Q4 2023 reached 3140 USD/MT in December. In the USA, the market for sorbic acid in Q4 2023 experienced price shifts influenced by growing demand from the pharmaceutical industry and rising costs of raw materials. Harsh winter weather and surplus inventory levels led to an initial price rise, followed by a decline as suppliers aimed to clear stockpiles. Economic conditions and potential interest rate hikes further impacted market trends.

The price trend for sorbic acid in Germany for Q4 2023, reached 3210 USD/MT in December. Germany's sorbic acid market in Q4 2023 saw fluctuating prices, initially rising due to strong demand from drugstores and bulk buyers, causing temporary shortages. As supply stabilized, prices eased in November. Yet, heightened demand throughout the holiday season and rising freight costs later pushed prices higher, reflecting the dynamic market conditions throughout the quarter.

Regional Coverage

The report provides a detailed analysis of the sorbic acid 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 sorbic acid price trend.

Global Sorbic Acid Price

The report offers a holistic view of the global sorbic acid pricing trends in the form of sorbic acid 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 the current price but also provides insights into sorbic acid historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into sorbic acid 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 sorbic acid 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 Sorbic Acid Price

Q3 2024:    

During Q3 2024, the market in Europe faced major costs hikes, reflecting patterns witnessed in different key importing areas. Intense requirement in multiple industries and supply-chain limitations, along with factory closures, fueled this increase. Increasing shipping prices and operational expenses intensified these challenges. Regulatory actions and improved quality inspections contributed to the total expenses, sustaining rising price momentum. Germany saw notable shifts driven by periodic demand, particularly with a rise in the use of food-related excipients as the colder months drew near. The Euro's strength compared to the USD growing spending power, even with increasing costs. The quarter concluded with continued price increases, highlighting the market's strength and consistent upward movement.

Q4 2023:

During the fourth quarter of 2023, the European sorbic acid market exhibited a fluctuating pricing pattern, beginning with a rise in October propelled by strong demand from wholesalers and pharmacies. This initial price increase resulted in temporary scarcity and escalating prices. By November, prices decreased as supply and demand stabilized, aided by fluctuations in raw material prices and improved production efficiencies in major producing regions. However, in December, continuous requirement from the food and beverage sector rose due to the festive season, alongside strategic purchases by wineries preparing for harvest. Moreover, increasing freight and fuel costs, partly due to trade tensions, contributed to an upward price trend. Throughout the quarter, Europe's sorbic acid market, especially in Germany, displayed a mixed but generally positive trend.

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

North America Sorbic Acid Price

Q3 2024:

During the third quarter of  2024, North American market saw significant price growth, impelled by increasing international demand and reduced exports from major production regions. The availability of supplies was further restricted by rising manufacturing prices, especially those for energy and raw materials, as well as shipping challenges. Due to robust requirement across all industries and proactive buying before scheduled factory shutdowns, the U.S. saw the most noticeable price increases. The continuous trend was also influenced by geopolitical factors, currency fluctuations, and seasonal shifts. The supply-demand equilibrium was impacted by a transitory decrease despite a general upward trajectory, which was caused by lower consumption in the solvent and pharmaceutical industries. Import prices rose as a result of higher freight rates and a declining value of the currency.

Q4 2023:

During the fourth quarter of 2023, the North American Sorbic Acid market, especially in the United States, encountered several challenges. Initially, prices rose due to heightened requirement from the pharmaceutical sector and escalating costs of raw materials like ketone. Harsh winter weather and ongoing need for pharmaceutical additives also heavily impacted the market. However, an excess of inventory and expectations of future price growth prompted buyers to purchase larger quantities at higher rates, leading to a decline in prices in November and December. Suppliers were forced to reduce prices to maintain their profit margins due to high inventory levels. Market dynamics were further influenced by economic factors, including a downturn in the Purchasing Managers' Index and potential interest rate hikes.

Specific sorbic acid historical data within the United States and Canada can also be provided.

Middle East and Africa Sorbic Acid Price

The report explores the sorbic acid 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 sorbic acid prices for countries can also be provided.

Asia Pacific Sorbic Acid Price

Q3 2024:

During third quarter of 2024, APAC observed steady growth in pricing, propelled by revived regional demand and positive market conditions. The push from global buyers for higher quantities reinforced this trend, while disruptions in supply-chains and reduced accessibility strengthened the market, increasing prices. China highlighted major cost changes, indicating towards the impact of worldwide market forces. The shifts as well as cost linkages influenced the market scene. During the quarter, pricing showed strong growth, underlining positive outcomes throughout Q3. The period closed with strengthened prices, illustrating vigorous regional market engagement and consistent quarter-on-quarter gains.    

Q4 2023:

In the fourth quarter of 2023, the sorbic acid market in the Asia-Pacific region saw a decline in prices. Initially, prices rose through October due to steady supply and a favorable exchange rate for international buyers. However, by November 2023, the market faced a downturn. Reduced order volumes from regional as well as international buyers contributed to this shift, compounded by an oversupply resulting from increased production earlier in the year. As the market grew more competitive, producers in the market prioritized cost-reduction along with product differentiation strategies to maintain their market share. The end of the quarter reflected these adjustments, with producers adapting to a challenging economic environment and declining prices.

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

Latin America Sorbic Acid Price

The analysis of sorbic acid 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.

Sorbic Acid Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Sorbic Acid Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of sorbic acid 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 sorbic acid at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of sorbic acid price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing sorbic acid 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.

Sorbic Acid Market Analysis

The global sorbic acid market size reached US$ 510.5 Million in 2023. By 2032, IMARC Group expects the market to reach US$ 781.8 Million, at a projected CAGR of 4.90% during 2023-2032.

• Sorbic acid is widely used in the food processing industry, thereby propelling the market growth. With the rapid urbanization and increasing demand for processed foods due to the fast-paced lifestyles, consumers are opting for more convenient options. Sorbic acid is used as a preservative in these food items avoiding the growth of yeasts, molds, and fungi. It is majorly used in sauces, beverages, dairy items, and bakery food products due to high chances of microbial growth. According to INVEST INDIA, the food processing market in India is projected to reach $535 Billion by 2025, and is expected to grow at a CAGR of 15.2%. Another reason supporting the high adoption of sorbic acid in this industry is its ability to preserve the food without changing the taste, texture, or nutritional content of the food products.
• Furthermore, the rising product utilization in the cosmetics and personal care industry is creating a positive market outlook. With the rising number of individuals becoming conscious of their looks in confluence with the growing trend of skincare, the market for sorbic acid is exponentially increasing. As per the IMARC GROUP, the global cosmetics market has already reached US$ 400.6 Billion in 2023 and is expected to reach US$ 618.7 Billion by 2032, exhibiting a growth rate of 4.8% during 2024-2032. Within this industry sorbic acid is primarily used in products such as shampoos, lotions, creams, and makeup as these products usually possess water-based formulations and are hence more prone to microbial growth. Moreover, the growing demand for natural and organic products is driving the market for preservatives such as sorbic acid.
• Other than this, another industry where sorbic acid is highly utilized is the pharmaceutical industry. Sorbic acid is widely used in drug formulations and healthcare products due to its antimicrobial properties. The growth of the pharmaceutical industry is parallelly leading to the expansion of sorbic acid industry. According to a report published by the IMARC GROUP, the India pharmaceutical industry is projected to reach US$ 163.1 Billion by 2032, while exhibiting a CAGR of 12.3% during 2024-2032. Furthermore, as the guidelines regarding microbial limits in pharmaceutical products increase, key players are seeking preservatives such as formic acids.

Sorbic Acid News

The report covers the latest developments, updates, and trends impacting the global sorbic acid 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 sorbic acid production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the sorbic acid price trend.

Latest developments in the sorbic acid industry:

• In January 2023, WEGO CHEMICAL GROUP announced its expansion in Brazil. The company will offer sorbic acid in Northeastern Brazil to end users, thus expanding its footprint.
• In June 2021, Prinova announced the launch of a new e-commerce website, in order to improve the way 400+ ingredients are bought in the United States.

Product Description

Sorbic acid is a white, crystalline powder possessing a faint odor, refers to an organic compound which occurs naturally. It is chemically represented as C6H8O2. It is barely soluble in water although it dissolves properly in ethanol and other organic solvents.

Sorbic acid is generally produced through a process where crotonaldehyde and ketene are condensed in the presence of a catalyst. This procedure results in a mixture of isomeric acids, trans-isomer, predominantly trans, which is then purified in order to procure sorbic acid. Besides this, it can also be naturally gained from numerous plants such as rowan berries and other plants.

Sorbic acid has its applications spread across a wide array of industries, such as food, cosmetic and personal care, pharmaceuticals, animal feed, and industrial applications. For instance, sorbic acid is widely used in industrial procedures such as the synthesis of plastics and polymers on account of its antimicrobial properties.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of sorbic acid 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 sorbic acid 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 sorbic acid price charts ensure our clients remain at the forefront of the industry.