Sodium metabisulfite market will surpass USD 495 million by 2025; according to a new research report.
A thriving growth in global food & beverage industry is the key factor escalating sodium metabisulfite market. By the increasing consumption of packaged food products in developed economies, the demand for sodium metabisulfite is also expected to rise at a CAGR of 5.2% till 2025 owing to its anti-microbial properties that makes it a perfect fit to be used as a preservative in the food sector. Rising awareness for waste water treatment operations throughout the globe is also propelling the market growth. Growing industrialization and agriculture practice in developing economies such as India, China, Mexico, UAE and South Korea demands sodium metabisulfite for de-chlorination purposes, thereby making it a huge driver for technical grade sodium metabisulfite market.
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The product seeks maximum growth opportunities in Asia Pacific due to growing food and beverage consumption in the region. The food grade sodium metabisulfite market is forecast to grow by over 5.5% CAGR till 2025, earning a revenue over 6.5 USD million. The growth is attributed to growing population which will lead to increased consumption of packaged food along with increasing food products trades and increasing awareness of water treatment operations. However, on the other hand the global sodium metabisulfite market growth might be hindered in future due to negative health impacts of the product.
Industrial grade sodium metabisulfite is the most preferred grade in the market and it is expected to grow in future at a CAGR of 5.2% owing to growing industrialization that will lead to increased applicability in various end user industries such as in leather industry, gas processing and water treatment operations. The product also functions as a bleaching agent being used in making paper pulp, cotton and wool.
Sodium metabisulfite is majorly used in the leather industry which is even expected to increase in the upcoming years at a promising CAGR of 4.6% as a result of growing disposable income of people which has led to rise in preference of premium leather goods throughout the globe. Soaring operational costs and stringent labor regulations in Belgium, Germany, Italy, have shifted the leather industry to several Asian nations such as India, China, and South Korea, making the region the potential market hub in future.
Asia pacific and Europe are the major regions propelling the sodium metabisulfite market demand for packaged food products like appetizers and frozen meals that will subsequently increase the production capacity of sodium metabisulfite in the region. Sifting consumer preferences towards more hygienic food packaging has accelerated the demand for preservatives and antioxidants. The product is used as a preservative in canned juices, dried foods etc. Europe's food grade sodium metabisulfite demand is supported by its growing bakery industry, where the product is used as a reducing agent in dough preparation.
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The sodium metabisulfite market is moderately fragmented due to the presence of huge players owing to its diversified application in a number of industries. Few players in the market are BASF SE, Aditya Birla Chemicals, Esseco LLC, Grillo-Werke to name some.