Potassium Metabisulfite Market Share, Size, Trends, Industry Analysis Report, By Grade (Technical Grade, Food Grade, and Industrial Grade); By Form, By Application; By Region; Segment Forecast, 2023-2032
- Published Date:Jun-2023
- Pages: 114
- Format: PDF
- Report ID: PM3376
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global potassium metabisulfite market was valued at USD 443.47 million in 2022 and is expected to grow at a CAGR of 4.6% during the forecast period. Increasing consumer awareness regarding the benefits associated with the consumption of hygienic food products resulted in a decent increase in the need and demand for packaged food around the world, and packaged food is increasingly becoming popular in urban areas as it is easily available in these areas at a very low and competitive cost, which are the primary factors fueling the growth of the global market. The rising young population and their change in lifestyle patterns and attraction towards alcohol-based products have forced and encouraged manufacturers to innovate new and non-harmful alcoholic products with heavily investing in R&D activities, which will also contribute towards market growth.
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For instance, in June 2022, K+S collaborated with Cinis Fertilizer to cooperate in the synthetic production of potassium sulfate. Under this agreement, K+S will purchase up to 600,00 tonnes of potassium sulfate per year from Cinis and supply its potassium chloride to K+S.
However, high manufacturing costs and exposure to potassium metabisulfite might cause various types of problems, such as skin irritation & reddening, which will hamper the demand and growth of the global potassium metabisulfite market over the course of the study period. The outbreak of the COVID-19 pandemic has significantly impacted the development of the potassium metabisulfite market. The emergence of novel coronavirus across the globe has created several challenges for almost every industry, as governments of many countries imposed several restrictions like lockdowns, trade sanctions, and social distances, which resulted in the closure of most of the wine & beer shops, thus decline in the sales of alcoholic products directly affected the demand for potassium metabisulfite.
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Industry Dynamics
Growth Drivers
The widespread use of the product in the food & beverage industry, particularly in winemaking, as the reaction of potassium metabisulfite to form sulfur dioxide during the manufacturing process of wine helps in the protection and keeping the original color and taste of the wine along with this, the growing adoption for the stabilization of beverages to eliminate the growth of microorganisms are major factors expected to boost the global market growth. Furthermore, the ever-increasing urban population across the globe and the rising income status and spending capacity of the middle-class population from emerging economies like India, China, South Korea, and Malaysia, coupled with the increasing penetration of alcoholic products among the youth population globally, are also likely to create significant growth opportunities for the market over the coming years.
Report Segmentation
The market is primarily segmented based on grade, form, application, and region.
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By Grade |
By Form |
By Application |
By Region |
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Food-grade segment accounted for the largest market share in 2022
The food-grade segment accounted for the largest market share and will likely retain its market position over the anticipated period. The growth of the segment market can be highly attributed to the increasing need and demand for potassium metabisulfite in several applications, including food & beverages, along with the continuous change in consumer purchasing behavior and rising awareness regarding the quality of the products they are having in their everyday meals. In addition, these types of products are being widely used for the sulfurization of wine, wherein it acts as a key major additive and forms the Sulphur dioxide that is likely to fuel the demand and growth of the segment market.
The technical grade segment is anticipated to grow at a significant growth rate over the coming years, which is mainly driven by the growing utilization of these products in a wide range of industrial applications, including water softening, production of sea-weed carrageenan, oil drilling, and electroplating coupled with this, these specialty minerals offers three grades with different levels of the purity according to need and requirement of end-user.
Solid segment held the significant market revenue share in 2022
The solid segment held the majority of market revenue share in 2022 because of the increasing adoption of solid-based potassium metabisulfite globally, mainly due to its several beneficial properties and characteristics, including easy handling, ease of transportation, and ability to be used in numerous applications.
Moreover, the increasing prevalence of using these types of potassium as an alternative to sodium sulfite for gold precipitation from aqua regia along with this, increasing investment in research & development activities to innovate more improved products with enhanced quality and larger applications and also to overcome harmful effects of the potassium meta-bisulfite to make it safe for human consumption, which will further augment the overall demand and growth of the segment market in the projected period.
Food processing segment is expected to account for substantial market share during forecast period
The food processing segment is anticipated to account for a substantial market share over the course of the study period, mainly due to the rising use of the potassium meta-bisulfite as an additive in food products, owing to its anti-oxidant properties and rising utilization of the product in the process of wine-making that helps in protecting the color & flavors of wine.
Moreover, it is also being used as a brewer & stabilizer for preventing the growth of bacteria & fungi and to tap the water during the disinfection process for the neutralizing monochloramine. Additionally, there has been a significant rise in the consumption of beer and wine globally and especially in the polar region for maintaining the body temperature during extremely heavy conditions, thereby influencing the demand and growth of potassium metabisulfite.
Europe region dominated the global market in 2022
Europe dominated the global market in 2022 and is expected to maintain its dominance over the study period. The region’s market growth can be largely attributed to the increasing consumer base, their high prevalence of consuming beer and other types of alcoholic drinks, and the widespread presence of major producers and consumers of wine in the region. Moreover, the factors above, coupled with the increasing government support in countries like UK, France, and Germany, further contribute to the market's demand and growth.
Asia Pacific region is expected to be the fastest growing region over the coming years, owing to continuous growth in the demand for the product from the food & beverages industry, as consumers are increasingly opting for packaged foods and shifting their buying preferences because of the rapid urbanization and change in their living patterns and standards.
Competitive Insight
Some of the major players operating in the global market include Anmol Chemicals , BASF, Esseco Group, Foodoric Group, Jay Dinesh Chemicals, Kodia Company, Trivenin Chemicals, Vynova, Shakti Chemicals, Aditya Birla Chemicals, Laffort, Murphy, Avantor Performance Chemicals, YARA International, Shiang Chemical, & Tessenderlo Group.
Recent Developments
- In February 2022, Vynova introduced new low-carbon potassium derivatives portfolio to help customers across numerous industries to produce highly sustainable products. These innovative solutions include the use of renewable energy in the company’s electrolysis production procedure.
- In July 2022, SQM introduced a water-soluble product in the European markets, a new potassium nitrate with an iodine product containing 13.7% nitrogen & about 46.3% potassium. The recent addition of iodine and potassium will allow the grower to effectively maintain a safe concentration of iodine in the root zone, which helps in preventing iodine deficiency in the crops.
Potassium Metabisulfite Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 462.80 million |
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Revenue forecast in 2032 |
USD 694.31 million |
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CAGR |
4.6% from 2023– 2032 |
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Base year |
2022 |
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Historical data |
2019– 2021 |
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Forecast period |
2023– 2032 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2023 to 2032 |
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Segments covered |
By Form, By Product, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Anmol Chemicals Group, BASF SE, Esseco Group, Foodoric Group of Cos, Jay Dinesh Chemicals, Kodia Company Ltd., Trivenin Chemicals, Vynova, Shakti Chemicals, Aditya Birla Chemicals, Alkaloid AD Skopje, Laffort, Murphy and Son, Avantor Performance Chemicals, YARA International SA, Shiang Chemical Corporation, and Tessenderlo Group. |
FAQ's
The Potassium Metabisulfite Market report covering key segments are grade, form, application, and region.
Potassium Metabisulfite Market Size Worth $ 694.31 Million By 2032.
The global potassium metabisulfite market expected to grow at a CAGR of 4.6% during the forecast period.
Europe is leading the global market.
key driving factors in Potassium Metabisulfite Market are Growing Demand in the Food and Beverage Industry.
