Global Sorbates Market Size, Share And Growth Analysis For 2024-2033
Sorbates Global Market Research 2024-2033: Outlook and Overview
Sorbates Market Research 2024-2033: Outlook and Overview
LONDON, GREATER LONDON, UNITED KINGDOM, September 4, 2024 /EINPresswire.com/ -- The sorbates market has experienced robust growth in recent years, expanding from $261.07 billion in 2023 to $279.31 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to consumer demand for longer shelf life, increased demand for processed and convenience foods, expansion of the food and beverage industry, growing awareness about food safety and preservation, rise in demand for natural and clean-label food products.
Strong Future Growth Anticipated
The sorbates market is projected to continue its strong growth, reaching $370.74 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to increasing demand for natural and organic food products, growing demand for food preservatives in developing countries, increasing demand for frozen and packaged food products, e-commerce and direct-to-consumer sales, emerging markets.
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Growth Driver Of The Sorbates Market
An increase in the consumption of processed food across the globe is driving the growth of the sorbates market. Due to busy lives, changing eating patterns of the global population, and the spread of the COVID-19 pandemic, demand for packaged and ready-to-eat food is increasing. Sorbates are used in processed foods to keep them fresh for longer periods. For instance, according to the Fast-Food Statistics 2021 report, in the US, 23% of the adults eat fast food meals three or more times a week while 34% of children aged 2 to 19 years eat fast food daily and 80% of Americans visit a fast-food outlet once a month. Therefore, the increasing consumption of processed food is expected to drive the demand for sorbates the over coming years.
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Major Players And Sorbates Market Trends
Key players in the sorbates market include Nantong Acetic Acid Chemical Co.Ltd., Sydney Essential Oil Company Pty Ltd., Tengzhou Aolong Fine Chemical Co.Ltd.
Major companies operating in the sorbates market are adopting a strategic partnership approach for expanding product portfolio. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success.
Sorbates Market Segments:
1) By Type: Sorbic Acid, Potassium Sorbate, Other Types
2) By Application: Food, Oils And Fats, Bakery And Confectionery, Dairy And Frozen Products, Snacks, Meat, Poultry, And Seafood, Beverages, Other Applications
Geographical Insights: North America Leading The Sorbates Market
North America was the largest region in the sorbates market in 2023. The regions covered in the sorbates market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Sorbates Market Definition
Sorbates are food preservatives that are easily soluble in water and protect the food from a wide spectrum of microorganisms including food-borne pathogens.
Sorbates Global Market Report 20242 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Sorbates Global Market Report3 2024 by The Business Research Company is the most comprehensive report that provides insights on sorbates market size, sorbates market drivers and trends, sorbates market major players, sorbates competitors' revenues, sorbates market positioning, and sorbates market growth across geographies. The sorbates market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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