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Potassium Metabisulfite Market

Potassium Metabisulfite Market Analysis, By Form (Liquid, Solid), By Grade (Technical Grade, Food Grade, Industrial Grade), By Function (Preservatives, Bleaching Agents, Antioxidants, Intermediates), By Application (Food Processing, Textile Printing & Dying, Gold Precipitation) - Global Market Insights 2023 to 2033

Analysis of Potassium Metabisulfite market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Potassium Metabisulfite Market Outlook (2023-2033)

The global potassium metabisulfite market is set to cross a valuation of US$ 393.9 million in 2023 and further expand at a CAGR of 4.4% to reach US$ 605.8 million by the end of 2033.

Sales of potassium metabisulfite for food processing accounted for nearly 71% of the global market share at the end of 2022. Strong demand for potassium metabisulfite from the wine industry to maintain the original taste and color of the wine will be the real trigger for potassium metabisulfite sales over the coming years.

Over the 2018-2022 historical period, the global market for potassium metabisulfite registered a CAGR of 2.1%, as per this detailed analysis by Fact.MR, a market research and competitive intelligence provider A majority of the potassium metabisulfite produced is used in food processing applications such as wine preservation, juice and pickle preservation, coconut cream production, etc.

Growing urban population and increasing income status of the middle-class population have increased the purchasing power of people to a substantial extent. The growing young population is another factor that has increased the demand for alcoholic products. This will drive the use of potassium metabisulfite over the coming years as it is widely used in the wine processing industry.

Extreme cold conditions in Europe and North America create high demand for alcoholic products such as wine. This will increase the sales of potassium metabisulfite as it is the prime ingredient in wine processing. Europe and North America are set to exhibit high demand for wine products due to the increasing middle-class population and also rising disposable income. Developing countries across the Asia Pacific region such as China and India will also create significant demand for potassium metabisulfite to be used in the wine industry.

Report Attributes

Details

Potassium Metabisulfite Market Size (2022A)

US$ 376.5 Million

Estimated Market Value (2023E)

US$ 393.9 Million

Forecasted Market Value (2033F)

US$ 605.8 Million

Global Market Growth Rate (2023-2033)

4.4% CAGR

North America Market Share (2022)

~26.2%

Europe Market Growth Rate (2023-2033)

~4.7% CAGR

United States Market Growth Rate (2023-2033)

~4.9% CAGR

Market Share of Top 5 Companies

~20.0%

Key Companies Profiled

  • Aditya Birla Group
  • Alkaloid AD skopje
  • American Elements
  • Anmol Chemicals Group
  • BASF SE
  • Esseco Group
  • Foodoric Group of Cos
  • Jay Dinesh Chemicals
  • Juan Messina S.A
  • Shakti Chemicals
  • Laffort
  • Triveni Chemicals
  • Vynova
  • Kodia Company Ltd.

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High Usage of Potassium Metabisulfite in Alcohol Preparation

Potassium metabisulfite is commonly known as potassium pyrosulfite, which is used as a preserving agent and chemical sterilant. Potassium metabisulfite is used in various end-use industries such as wine and beer, textiles, etc. It is most commonly used in the food and beverage industry, mainly in the process of wine-making.

It is used as an additive due to its antioxidant properties. The reaction of potassium metabisulfite in the wine-making process helps in maintaining the original properties of the wine. It can also be used in the stabilization process in beverages to prevent the growth of microorganisms.

More than 70% of the potassium metabisulfite manufactured is used in the wine manufacturing process. All in all, the growing demand for wine is set to drive target market expansion over the coming years.

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Increased Consumption of Wine in Extreme Cold Regions

Over the years, demand for wine products has increased rapidly in extremely cold regions such as Europe, North America, and some countries in the Asia Pacific region. The consumption rate of beer and wine is increasing for maintaining body temperature. This is because in many studies it has been found that the consumption of wine and beer helps increase body temperature.

The extreme cold conditions in the United States have helped it become the largest wine-consuming country in the world. United States wine consumption crossed the mark of 30 million hectoliters in 2021, followed by France and Italy, which saw wine consumption of over 25 million hectoliters. The consumption of wine is also increasing in many countries due to the growth of the young population and their high inclination towards beer and wine.

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Increasing Demand for Packaged Food to Create Positive Environment for Market Players

Over the last decade, the demand for packaged food has increased rapidly. Rising awareness about the importance of hygienic food among consumers is a key factor for the growth of packaged food industry. In recent years, countries such as China, India, and ASEAN countries have seen huge demand for packaged food.

Packaged food products are becoming more and more popular, particularly among the urban population because it is easily available, transported, and comes at a low cost. Packaged food also reduces the risk of tampering with the food.

All these factors are helpful for the growth of potassium metabisulfite as it is widely used in the food and beverage industry to preserve the natural taste and color of food and protect it against bacteria.

Potassium metabisulfite market forecast by Fact.MR

Market share analysis of potassium metabislufite based on application and region. Under the application segment, food processing will dominate the market with 71.3% share in 2023.

Country-wise Insights

Will the U.S. Provide Growth Opportunities for Potassium Metabisulfite Manufacturers?

The United States is the largest wine-consuming country in the world. Per capita consumption of wine is over 3.1 gallons every year. Extreme cold conditions in the United States have driven up the demand for various types of alcohol products to maintain body temperature.

The growing young population and their changing lifestyles and attraction towards alcohol have increased the demand for potassium metabisulfite in the country. Along with the use of potassium metabisulfite in the wine industry, the demand for juices has increased rapidly in the United States. The juice market in the United States crossed the mark of US$ 13 billion in 2021. This has increased the demand for potassium metabisulfite as it is widely used for juice preservation.

The United States market for potassium metabisulfite is currently estimated at US$ 89.8 million and is expected to expand at a CAGR of 4.8% through 2033.

Why is China Expected to Be a Highly Lucrative Market for Potassium Metabisulfite Suppliers?

Along with North America and Europe, the consumption of wine has been increasing significantly in developing countries from the Asia Pacific region such as China. Along with a growing economy, consumers’ disposable income has increased rapidly in China. This has helped drive the consumption of alcohol products.

China’s wine consumption crossed 1 billion liters in 2021. The country’s wine imports have also increased rapidly. In 2020, China was the fifth-largest wine importer in the world. Along with the wine industry, the juice market is growing at a healthy CAGR of over 7% in China. Average juice consumption in the country is recorded at 1.5 L in 2022.

Over the last decade, the demand for packaged food has increased rapidly in China. Rising awareness about the importance of hygienic food among consumers is a key factor for the demand growth for packaged food. This opens the door for potassium metabisulfite manufacturers to expand their presence in China.

China holds a commanding position at the country-level accounting for more than 60% of East Asia potassium metabisulfite production in 2021. The China market for potassium metabisulfite is expected to reach a valuation of US$ 47.3 million in 2023.

Category-wise Insights

Why is Food Grade Potassium Metabisulfite Gaining Popularity?

Manufacturers have been focusing on developing various grades of potassium metabisulfite such as food grade, technical grade, and industrial grade for use in various end-use industries. Food-grade potassium metabisulfite has been gaining high popularity due to its functions as a preservative and bleaching agent that can be used for various applications such as wine preservation, juice & pickle preservation, coconut cream production, etc.

Demand for food-grade potassium metabisulfite is predicted to increase at a CAGR of 4.8% between 2023 and 2033.

Will Market Growth Be Driven by Increasing Demand for Wine?

Potassium metabisulfite is widely used in the food and beverage industry. It is most commonly used for wine-making.

The reaction of potassium metabisulfite to form sulfur dioxide during the wine-making process helps retain the taste and color of the wine. Increasing demand for wine in developed as well as developing countries has created significant opportunities for potassium metabisulfite suppliers. The increasing young population and their changing lifestyles have been key factors for the growth of the market.

Wine preservation application of potassium metabisulfite is estimated to be valued at US$ 129.4 million by the end of 2023.

Competitive Landscape

Prominent potassium metabisulfite manufacturers are Aditya Birla Group, Alkaloid AD Skopje, Anmol Chemicals Group, BASF SE, Esseco Group, Foodoric Group of Cos, Jay Dinesh Chemicals, Kodia Company Ltd., Shakti Chemicals, Triveni Chemicals, Vynova, and Laffort.

Leading market players are focusing on manufacturing different grades of potassium metabislufite such as food grade, technical grade, and industrial grade for use in various end-use industries. Manufacturers have entered into long-term supply contracts with end users to ensure consistent product demand.

Fact.MR has provided detailed information about the price points of key manufacturers of potassium metabisulfite positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Potassium Metabisulfite Industry Research

  • By Form :

    • Liquid
    • Solid
      • Powder
      • Crystal
  • By Grade :

    • Technical Grade
    • Food Grade
    • Industrial Grade
  • By Function :

    • Preservative
    • Bleaching Agent
    • Antioxidant
    • Intermediate
    • Others
  • By Application :

    • Food Processing
      • Wine Preservation
      • Juice and Pickle Preservation
      • Coconut Cream Production
      • Dehydrated Foods Preservation
      • Others
    • Textile Printing & Dyeing
    • Gold Precipitation
    • others
  • By Region :

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

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Potassium Metabisulfite Market

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The global potassium metabisulfite market is set to be valued at US$ 393.9 million in 2023.

Worldwide demand for potassium metabisulfite is anticipated to reach US$ 605.8 million by 2033-end.

From 2018 to 2022, worldwide sales of potassium metabisulfite increased at 2.1% CAGR.

Europe leads the global potassium metabisulfite market accounting for 29.3% share.

Food processing application of potassium metabisulfite accounts for 71.3% share of global sales.

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