Growing demand in the food and beverage industry, as well as increased usage in the textiles industry, are expected to boost the market in the medium term.
Covid-19 Impact & Market Status
COVID-19 sickness began to spread over the world in the early years of 2021, infecting millions of people globally, prompting major countries around the world to impose foot prohibitions and work stoppage orders. Most businesses, with the exception of medical supplies and life support items, have been severely disrupted. Due to lockdown imposed around the world the factories generating chemicals were shut down which was a major hindrance. Lack of labour, no production had a negative impact on the market and eventually stopped the growth of the market.
It’s being expected that by 2027, the Potassium Metabisulfite market cap will hit USD 586.39 million at a CAGR growth of about 4.30 %.
Despite the COVID-19 situation, the global market for Potassium Metabisulfite is expected to increase at a CAGR of 3.45 percent from 2020 to 2027, from an estimated US$403.7 million in 2020 to a revised US$ 502.91 million by 2028.
During the projected period, the European region is expected to lead the potassium metabisulfite market. The demand for potassium metabisulfite has been expanding in the region, owing to a huge consumer base due to an increasing youth population and their dependence on beer and other alcoholic beverages.Europe is the world's leading producer and consumer of wine, accounting for more than 55% of global consumption, resulting in a boom in demand for potassium metabisulfite in the region.During the projected period, the European alcoholic beverage industry is expected to grow at a CAGR of over 3%, presenting lucrative prospects for the potassium metabisulfite market.
The consumption of beer and wine in the Polar region is often high in order to maintain body temperature during extreme temperatures, resulting in an increase in the demand for potassium bisulfite in these areas. Due to the expanding youth population and their reliance on beer and wine, the United States, Turkey, Italy, and France have recorded the highest consumption of potassium metabisulfite.
Due to the rise of the food and beverage industries, Asia-Pacific is also one of the top users of potassium metabisulfite. One of the factors driving the expansion of the potassium metabisulfite market is the rising demand for pre-packaged foods. The potassium metabisulfite market in the Middle East and Africa is rather tiny.
Especially in the food and beverage business, potassium metabisulphite is widely utilised. The conversion of potassium metabisulphite to sulphur dioxide during the winemaking process helps to preserve the wine's original flavour. During the stabilisation of beverages, potassium metabisulphite is frequently used to prevent the growth of germs. Pickles are also preserved with this substance. As a result, its widespread application in the food and beverage industry is moving the market forward. The market is projected to benefit from increased demand for potassium metabisulphite from the water and chemical industries. The textile sector, particularly cotton printing and dyeing, uses potassium metabisulphite extensively, which is expected to drive market expansion in the future years.
Potassium metabisulfite, commonly known as potassium pyrosulfite, is a pungent-smelling white crystalline powder. It has a monoclinic crystal structure, which decomposes to potassium sulfite and sulphur dioxide.
Because of its antioxidant properties, potassium metabisulfite is becoming more popular as a wine additive. The demand for potassium metabisulfite is increasing as a result of this. Potassium metabisulfite reacts with sulphur dioxide during the winemaking process, which helps to preserve the colour and delicate flavours of the wine .In the brewing business, potassium metabisulfite is used as a stabilizer to prevent bacteria and fungi from growing. It's also used to neutralise monochloramine in tap water during the disinfection process. Potassium metabisulfite is also used as a food preservative in lemon juice and pickles. It's also used to precipitate gold from aqua regia solutions as an alternative to sodium sulfite. Though potassium metabisulfite has a wide range of applications, it is most commonly employed in the beer and wine industries. Leading manufacturers' R&D departments are attempting to eliminate potassium metabisulfite's adverse effects and make it fully safe to consume.
Potassium Metabisulfite demand is predicted to increase in the long run. Potassium metabisulfite is a chemical that is used in the textile industry to print and dye cotton. China produces and exports the most textiles in the world. Cotton fabrics are one of China's textile industries' eight primary categories. The country generates 52.2 percent of all clothing products produced worldwide. As a result, demand for potassium metabisulfite is likely to rise in the coming years in the country. It's also used to precipitate gold from mild hydrochloric acid solutions as an alternative to sodium sulfite. It is also used to create photographic solutions.
The global demand for potassium metabisulfite is being driven by increasing growth in the food and beverage industry. However the presence of replacements such as sodium and ammonium metabisulfite, on the other hand, is likely to stifle market expansion.
Major market players of Potassium Metabisulphite Market are Aditya Birla Chemicals, BASF SE, Murphy and Son, LAFFORT, and Alkaloid AD Skopje.
Major Developments in Potassium Metabisulfite Market:
- In winemaking, potassium metabisulfite is commonly utilised. It has been used to make wine all over the world. Potassium metabisulfite is used as an addition throughout the winemaking process and during the bottling process. It also preserves the wine's colour and flavour. It also stops hazardous bacteria from growing.
- Italy produced roughly 19 percent of the world's wine in 2018, a 29 percent increase over 2017. In addition, the country produced roughly 7.58 billion bottles of wine in 2018. In 2020, the United States will produce 607.5 million gallons of wine. In the United States, the number of wineries has increased from 2,230 in 1998 to 10,043 in 2019.
- Potassium Metabisulfite demand is predicted to increase in the long run. Potassium metabisulfite is a chemical that is used in the textile industry to print and dye cotton. China produces and exports the most textiles in the world. Cotton fabrics are one of China's textile industries' eight primary categories. The country generates 52.2 percent of all clothing products produced worldwide. As a result, demand for potassium metabisulfite is likely to rise in the coming years in the country. It's also used to precipitate gold from mild hydrochloric acid solutions as an alternative to sodium sulfite. It's also employed in the creation of photographic solutions.
Potassium Metabisulfite Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2027||USD 586.39 million|
|Growth Rate||CAGR of 4.30 % during 2021-2027|
|Segment Covered||By Application, type, End- Users, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||BASF SE, Aditya Birla Chemicals, Murphy & Son Ltd, Alkaloid AD Skopje., Alfa Aesar, Jay Dinesh Chemicals., Avantor, Inc, Shakti Chemicals, Nilkanth Organics, Merck KGaA, PARI CHEMICALS, among other domestic and global players.|
Key Segments of the Potassium Metabisulfite Market
- By Type
- Food Grade
- Industrial Grade
- By Application
- Food and Beverages
- Gold Processing
- Photographic Chemical
- By Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa