The report "Potassium Metabisulfite Market by Application (Wine Industry, Beer Industry, Food Preservatives, Textile Industry, Photographic Chemicals, & Others) - Global Forecast to 2020", defines and segments the global potassium metabisulfite market with analysis and forecasting in terms of volume and value. The potassium metabisulfite market in terms of value is estimated to grow from USD 355.5 Million in 2015 to USD 436.3 Million in 2020 and is expected to register a CAGR of 4.2%.
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The potassium metabisulfite market is projected to grow at a CAGR of 4.6% between 2015 and 2020, in terms of volume. The demand for potassium metabisulfite is mainly driven by growth in the demand for wine and beer manufacturing industries. Also, the growth of the food preservatives industry is driving the growth of potassium metabisulfite in countries with stringent regulation on non-food chemicals used in food and beverages industry.
The consumption of potassium metabisulfite is the highest in the European region. The region accounted for over 50.2% of the total market in 2014 in terms of volume. The growing demand for wine and beer and food preservatives in Europe is the major driver of potassium metabisulfite market in the region. The growth of potassium metabisulfite in Asia-Pacific region is the fastest as compared to other regions. The high growth in the Asia-Pacific region is due to the increasing youth population which have beer as their drinking preference as compared to other alcoholic drinks.
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The top companies in the potassium metabisulfite market include BASF SE (Germany), Aditya Birla Chemicals Thailand (India), Murphy and Son Ltd. (U.K), Jay Dinesh Chemicals (India) and Laffort (France) among others.
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