APAC sodium metabisulfite market record remarkable growth rate over 2019-2025
Publisher : Fractovia | Published Date : 2019-07-17Request Sample
The global sodium metabisulfite market is experiencing a substantial rise over the previous few years owing to the increasing acceptance of compound as an antioxidant, preservative, and disinfectant across a plethora of industries. The inorganic compound holds approvals from the United States Food & Drug Administration as well as the European Union to be used across food & beverage industries as an additive used for preservation, which is projected to augment sodium metabisulfite market outlook in coming years.
U.S. Sodium Metabisulfite Market Size, By End-user, 2014 – 2025 (USD Million)
The growth will further be propelled by the extensive use of sodium metabisulfite in the cosmetics & personal care industry as an antioxidant preservative that prevents the products from oxidizing while also greatly extending their shelf-life.
Beer and wine makers have been using Campden tablets (potassium or sodium metabisulfite) since long, to sterilize alcoholic beverages. The popularity of sulfites in beer & wine making can be primarily attributed to their capability of killing bacteria & yeasts which can drastically reduce the product’s shelf-life.
According to Wine Intelligence, all throughout North America and the Western Europe, women buy wine from dedicated wine shops and supermarkets. In fact, in UK, 55% women are regular wine consumers. Expanding winery industry across European countries will further impel sodium metabisulfite industry trends.
Growing trends of ‘wine o’clock’ across developed countries is likely to enhance wine industry outlook. According to urban dictionary is a time, often somewhere around early evening, when people consume wine, similarly to the morning coffee time. This concept has driven a significant rise in the overall levels of wine consumption and demands in the past few years with the U.S. alone consuming more than 790 million gallons wine in 2016. This unprecedented demand is expected to further fuel the growth of food-grade sodium metabisulfite market share in the near future.
While North America & Europe still lead in wine consumption, it is noteworthy to mention that APAC sodium metabisulfite industry will amass significant revenue pertaining to the surging use of sodium metabisulfite in wine production. China, India, South Korea & Thailand are the major revenue pockets which have become popular destination for product exporters over the last few years. In fact, the concentration of manufacturers & suppliers in the region is so much that by 2025, APAC is slated to account for approximately 45% of the total market share.
Globally, approximately 37% of beer drinkers claim they are willing to shell out extra money for an alcoholic beverage that brings them higher levels of indulgence & enjoyment. This forecast a major change in the demands for the global beer industry. According to the Asian Hotel & Catering Times, two of the biggest consumer markets in the world, namely China & India, are on the verge of witnessing a major upheaval in their established beer markets as the culture of consuming craft beers gains more traction.
Further supporting the projection, China’s National Bureau of Statistics reported, in 2015, beer industry output fall by around 5.06% as compared to the output in 2014, while, output of craft beer registered 54.55% y-o-y increase. Though the popularity of craft been across Asian countries mainly India has not been reached to level of European and American countries, over the coming years it is likely to grow remarkably owing to the changing consumer preference.
Propelled by these changing market conditions, the sodium metabisulfite market size is slated to experience an invigorating amount of growth in the forthcoming years. In fact, according to a research report by Global Market Insights, Inc., by 2025, the global sodium metabisulfite market is slated to hit the $496.6 million renumeration mark.
