According to a new market report published by Lucintel, the future of the sorbic acid market looks promising with opportunities in food and beverage, pharmaceutical, beauty and personal care, animal feed, and others. The global sorbic acid market is expected to grow with a CAGR of 5% from 2020 to 2025. The major drivers for this market are increasing adoption of sorbic acid in food and beverages as there are anti-fungal and anti-decomposition properties associated with sorbic acid.
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In this market, food grade, pharmaceutical grade, and industrial grade are the major product types. Lucintel forecasts that food grade will remain the largest segment over the forecast period because of its applications for food and beverages products due to the ideal antimicrobial activity and ability to inhibit the growth of molds, bacteria, and yeast.
Within this market, food and beverages, pharmaceuticals, industrial chemicals, cosmetics, and others are the major applications of sorbic acid. Food and beverage will remain the largest segment by application type over the forecast period due to high demand for sorbic acid which is used as a preservative.
Asia Pacific is expected to witness the highest growth over the forecast period as it offers strong economic growth, changing food habits, increasing demand for packaged food products, and significant investment by leading industry players considering potential growth opportunities in this region.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global sorbic acid market by product type, application, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Sorbic Acid Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global sorbic acid market by product type, application, and region as follows:
By Product Type [Value ($ Million) shipment analysis for 2014 – 2025]:
Food Grade
Pharmaceutical Grade
Industrial Grade
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
Food and Beverages
Pharmaceuticals
Industrial
Chemicals
Cosmetics
Others
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United Kingdom
German
France
Italy
Spain
A more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
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