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2021
Potassium Hydrogen Sulfite Market

Potassium Hydrogen Sulfite Market: Global Opportunity Analysis and Industry Forecast, 2021–2028

A11486
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Dec 2021 | 371 Views
   
Author(s) : Eswara Prasad
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COVID-19

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Potassium Hydrogen Sulfite Market Outlook - 2028

Potassium hydrogen sulfite is a chemical compound formed by reaction of potassium carbonate salts and sulfur dioxide.  In this reaction, sulfur dioxide is passed to remove carbon dioxide completely from the salt solution and this colorless solution changes into white. Potassium hydrogen sulfite is a solid compound and white in color with an odor of sulfur dioxide. This is hygroscopic crystalline powder and used as sterilizing agent in alcoholic and hard drink beverages. It is used as chemical preservative and antioxidant in the food & beverages industry. It is majorly used in wine making and its major end user include pharmaceuticals, chemicals, textiles, and food & beverages industries.              

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2019–2028

  Base year considered

  2020

  Forecast period

  2021–2028

  Forecast units

  Value (USD)

  Segments covered

  Structure, Grade, Type, End-Use Industry, and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and rest of Europe), Asia Pacific (China, Japan, India, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and Middle East and Africa (Saudi Arabia, UAE, Kuwait, South Africa, and rest of MEA)

  Companies covered

Akos Consulting and Solutions, Aditya Birla Chemicals Thailand, Wubei-Biochem, Tractus, Chemtex Speciality Ltd., Sigma-Aldrich, BASF SE, Murphy and Son Ltd., EVER s.r.l. and Triveni Chemicals

 

COVID-19 scenario analysis:

  • Wine is the major product of potassium hydrogen sulfite, however, owing to the pandemic supply of wine got disrupted. This, in turn, led to imbalance in the wine manufacturing plants and ultimately decline in demand for potassium hydrogen sulfite. 
  • Pharmaceutical sector is one of the sectors that had very less negative impact from the COVID-19 pandemic. Though potassium hydrogen sulfite has very wide application in drugs, hence there was less effect of the crisis on the market growth, especially from the pharmaceuticals sector.
  • The global economic slowdown caused by the pandemic has led to decline in demand for food & beverages, which has caused a steep fall in demand for potassium hydrogen sulfite.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

One of the major factors responsible for growth of potassium hydrogen sulfite is the growth of the food & beverages industry. Potassium hydrogen sulfite is approved by FDA (food and drug administration) to be used in food the industry. The industry is a major buyer of potassium hydrogen sulfite as it is used as chemical preservative in food supplies.  Moreover, to increase shelf life of food products, it is necessary to keep them fresh and Potassium hydrogen sulfite is used for the same, which propels growth of the market. In addition, rise in consumption of of alcoholic products such as wine, whisky, and beer has led to rise in demand for potassium hydrogen sulphite as it works as an additive to preserve these beverages from bacteria and other infectants and enhance texture, odor, and flavor.  Furthermore, trend of ready to eat food is increasing globally, which also propels demand for potassium hydrogen sulfite. However, certain government restrictions on potassium hydrogen sulfite products such as wine in some countries might restraints growth of the potassium hydrogen sulfite market.

In terms of market share, Europe accounts for the major fraction of the global potassium hydrogen sulfite market, owing to the presence of largest food & beverage industry in the world. Moreover, many countries such as Germany, Spain, and the UK are known for their whisky and wine production in the region. The market in Asia-Pacific and North America is expected to be the second and third largest consumer of potassium hydrogen sulfite, owing to its wide demand in wine, pharmaceutical, and industries.

Key segments covered:

Segments

Subsegments

  Structure

  • 2D
  • 3D

  Grade

  • Food Grade
  • Photo Grade
  • Technical Grade

  Type

  • Liquid
  • Powder

  End-Use Industry

  • Chemical
  • Pharmaceuticals
  • Paper & Pulp
  • Textile
  • Food & Beverages
  • Others


Key benefits of the report:

  • This study presents analytical depiction of the global potassium hydrogen sulfite market along with current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global potassium hydrogen sulfite market share.
  • The current market is quantitatively analyzed from 2019 to 2028 to highlight the global potassium hydrogen sulfite market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed global potassium hydrogen sulfite market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the potassium hydrogen sulfite market research report:

  • Which are the leading market players active in the potassium hydrogen sulfite market?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the potassium hydrogen sulfite market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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