Growing Demand for Ready-To-Eat Foods Driving Global Sorbic Acid Market Expansion

The global sorbic acid market generated a revenue of $347,661.0 thousand in 2019, and it is predicted to advance at a CAGR of 4.7% between 2020 and 2030. The market is also expected to reach a value of $521,126.7 thousand by 2030. This will be due to the surging per capita food and beverages consumption in the developing countries such as China, Brazil, and India and the booming pharmaceutical and food & beverages industries in the Western countries.

Depending on application, the sorbic acid market is categorized into industrial chemicals, food & beverages, and pharmaceuticals. Out of these, the food & beverages category dominated the market in 2019, and this trend is predicted to continue in the forthcoming years as well. This will be because of the chemical’s ability to massively inhibit the growth of yeast, mold, and various other microorganisms and thus, increase the shelf life of products. 

The market is also classified, based on form, int encapsulated and powdered categories. Between these, the encapsulated category is predicted to exhibit the faster growth in the market in the forthcoming years. This is credited to the fact that the encapsulated form makes the direct addition of the chemical to food products in the form of dough possible. This subsequently facilitates their preservation without affecting or killing the yeast, when used during baking.

Geographically, the Asia-Pacific sorbic acid market will demonstrate lucrative growth in the upcoming years, as per the estimates of the market research company, P&S Intelligence. This will be due to the rising urbanization rate and the surging sales of frozen foods, packaged products, desserts, and baked foods, because of the increasing disposable income of people, in this region. Additionally, the rising popularity of ready-to-eat food items in the regional countries is also propelling the market advancement in the region.

Hence, it is clear that due to the growing popularity of ready-to-eat and frozen foods, the burgeoning requirement for food preservation, and the surge in the pharmaceutical industry, the market will grow sharply all over the world in the coming years.