Potassium Benzoate Market: An Overview
Potassium benzoate (C6H5COOK) is a chemical food preservative that is widely used in a variety of industries, such as the food industry, pharmaceuticals, personal care & cosmetics industry, and agriculture & allied industries, among others. Potassium benzoate is used to inhibit the growth of organisms such as yeast, mold, and bacteria in food products such as fruit juices, pickles, and carbonated drinks. The market for potassium benzoate is expected to grow with the increase in the demand for food preservatives, during the forecast period. There are several factors which give potassium benzoate an edge over key rivals such as sodium benzoate. One of these factors is the growing demand for low sodium content in food. To preserve food items such as low-sugar jams, jellies, marmalades, and fruit beer, potassium benzoate is preferred over sodium benzoate. Therefore, the outlook for the growth of the global potassium benzoate market is expected to be positive during the forecast period.
Potassium Benzoate Market: Dynamics
The global potassium benzoate market is expected to grow on the backdrop of growth in the consumption of products such as soft drinks, which also are the most prominent end uses for potassium benzoate. Potassium benzoate also has medical benefits for the human body; once digested, potassium benzoate disintegrates into two parts, one being electrolyte potassium. This is useful for some key biological processes, including cardiac muscle contractions, which are necessary for the cardiovascular and digestive systems. Potassium benzoate is also expected to witness continued demand due to the benefits of potassium as an essential mineral. Electrolyte potassium aids the electrical signals and pulses in traveling through the body. Potassium benzoate has been described as ‘generally recognized as safe’, and has been approved for use as a food preservative and flavouring agent. One of the key factors that could hamper the growth of the global potassium benzoate market is the presence of strict laws regarding the content of benzene in food. There have been past incidents where the Centre for Food Safety and Applied Nutrition conducted a sampling of soft drinks, which found that the amount of benzene compound in the beverages was more than the acceptable range. Benzene is formed when potassium benzoate combines with vitamin C, and is a carcinogen. However, with new laws and regulations in place, there are lesser possibilities for such errors in the future. The Food and Drug Administration (FDA) has mandated that the beverages should contain less than 5 parts per billion ppb of benzene, a limit that has also been defined by the Environmental Protection Agency.
Potassium Benzoate Regional Market Outlook
The Asia Pacifc region is expected to lead the global potassium benzoate market during the forecast period. This is attributed to the high food and beverage consumption in the region. A steady growth in population of the region is also expected to ensure that the Asia Pacific region retains its leading position. North America and Europe are expected to trail the Asia Pacific region in the global potassium benzoate market, and are also forecast to register sluggish growth during the same period. The Asia Pacific region holds lucrative opportunities for the growth of the global potassium benzoate market. The Latin American potassium benzoate market is expected to witness more growth than its Middle Eastern counterpart.
Global Potassium Benzoate Market: Segmentation
Globally, the potassium benzoate market has been segmented as:
On the basis of application, the global potassium benzoate market is segmented as:
- Potassium benzoate as a Flavouring Agent
- Potassium Benzoate for Food Preservation
On the basis of end use, the global potassium benzoate market is segmented as:
- Food & Beverages
- Jams, Marmalades, & Jellies
- Soft Drinks
- Personal Care & Cosmetics
- Agriculture & Allied Industries
- Other Industries
Global Potassium Benzoate Market: Key Players
Some of the key players operating in the global potassium benzoate market are:
- Merck KGaA
- Eastman Chemical Company
- FBC Industries, Inc.
- Emerald Performance Materials
- Spectrum Laboratory Products, Inc.
- Muby Chemicals
- Jiahe Biotech
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