Economic growth is leading to the increasing spending power of people, which is driving a shift in worldwide food consumption patterns. As a result, the sale of cheeses, wines, fresh produce, baked products, and refrigerated meats is rising. This is why the global sorbic acid market is predicted to grow from $347,661.0 thousand in 2019 to $521,126.7 thousand in 2030, at a 4.7% CAGR between 2020 and 2030.
In the years to come, the faster growth in the sorbic acid market, on the basis of form, will be witnessed by the encapsulated bifurcation. The acid in this form can be directly mixed in food products while they are still in the dough stage. When used for baked goods, sorbic acid offers the advantage of not killing the yeast, which is important for the dough and the baked product to rise and become fluffy.
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The food & beverages category held the largest share in the sorbic acid market in the past, based on application, as the compound is widely used in this industry to kill contaminating bacteria. This is why sorbic acid is added in substantial volumes to dried fruits, cheeses, pet foods, yogurt, soft drinks, dried meats, and baked goods to increase their shelf life.
Till now, Asia-Pacific (APAC) has been the largest sorbic acid market, and it is also expected to observe the fastest rise in the usage of this compound in the coming years. The growing food & beverages and pharmaceutical industries in Japan, China, India, South Korea, and Australia are leading to the increasing demand for sorbic acid. Moreover, as people in these countries prosper, the consumption of processed food will rise, thereby driving the market.
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