According to a latest market research report introduced by the Credence Research, Inc. “Global Sodium Metabisulfite Market: Ongoing Trends, Opportunity Assessment, and Competitive Analysis, 2015 – 2027”, the global sodium metabisulfite market generated revenue of around USD 367.8 million in 2020 and expected to reach USD 562.7 Mn by registering CAGR of 6.4% during the forecast period.
Global Sodium Metabisulfite Market, 2020 – 2027 (USD Million)
Browse the full report at https://www.credenceresearch.com/report/sodium-metabisulfite-market
Sodium metabisulfite is an inorganic compound preferably used as an antioxidant agent in pharmaceutical preparations. In addition, the compound also has applications in food preservation and industrial disinfectant amongst others. Extensively increasing food & beverages industry and rising production of pharmaceutical formulations are offering a favorable opportunity for growth of the market.
Key Trends in Global Sodium Metabisulfite Market
Increasing Adoption in Sodium Metabisulfite in Food & Beverages are Expected to Bolster Market Growth
Sodium metabisulfite is one of the important sulfites which is recommended as an antioxidant & belching agent and preservative in food items. In addition, the compound is also used as reducing agent in fresh & dried fruits, vegetables and wines. Gradual shift in work-oriented lifestyle is majorly playing a role in increasing demand for packaged food and beverages. For instance, according to a study published on a health blog in 2020, the processed food accounts for around 25-40% of the person’s daily intake in global level. In addition, according to another study published in 2019, an estimated 93.0% of the children in India consumes packaged food at least once a week. Such substantial demand and consumption for packaged food is expected to raise the adoption of sodium metabisulfite, which will eventually drive the market growth during the forecast period.
Impact of COVID 19 on Global Sodium Metabisulfite Market
Unexpected rise of coronavirus disease across the globe had negative impact across all of the industries. Imposition of sudden lockdowns and social distancing policies led to shutting down of packaged food & beverages production across several geographies. Further, these lockdown policies created a significant challenge for food supply chains, manufacturing, production, storage, and distribution. Due to shutting down of tourist places and industrial workplaces, the demand for packaged food declined dramatically. This decline in production and manufacturing of packaged food items hampered the growth of global sodium metabisulfite market during the pandemic. Moreover, closing of industrial sectors also deterred the adoption of sodium metabisulfite on global level. COVID 19 resulted into decline of market growth rate as compared to 2019.
Global Sodium Metabisulfite Market by Garde Insights
The grade segment of global sodium metabisulfite market includes food grade, industrial grade, and photo grade. In 2020, industrial grade segment held the largest market share of the sodium metabisulfite market. Also, the same segment is likely to represent highest growth during the forecast period.
Industrial Grade Segment to Dominate the Global Sodium Metabisulfite Market
Global Sodium Metabisulfite Market by Grade, 2020
Global Sodium Metabisulfite Market by End-User Industry Insights
The gender segment of global sodium metabisulfite market includes chemical & pharma industry, food & beverages industry, photography & film industry, pulp & paper industry, textile industry, and others. In 2020, food & beverages industry segment held major share of the market. It accounted for over 60.0% share in 2020.
Global Sodium Metabisulfite Market Share by End-User Industry Insight, 2020
Global Sodium Metabisulfite Market by Regional Insights
In 2020, Asia Pacific led the global sodium metabisulfite market with an estimated 45.0% market share. China, South Korea, India, and South East Asia played a major role in the growth of Asia Pacific sodium metabisulfite market. Certain factors such as rising adoption of the compound in several industrial sectors, increasing consumption of packaged food, and growing production of pharmaceutical drugs are anticipated to drive the market growth. Followed by Asia Pacific, North America also witnessed attractive growth due to favorable government regulations. In Europe, considerable number of business activities such as production expansion and collaborations are projected to accelerate the market growth.
Global Sodium Metabisulfite Market Competitive Landscape
Most prominent players in the global sodium metabisulfite market include Yuanye Chemical, Esseco USA, Grillo-werke, Henan Fengbai Chemical Co., Ltd., Aditya Birla Chemicals, Quimser SA, Zhengzhou Clean Chemical Co., Ltd., Meizhou Union Chemical, Tangshan Sanjiang Chemical, Qingdao Tianya Chemical Co., Ltd., and others. The report covers very detailed profiles and growth strategies of these key players.
Global Sodium Metabisulfite Market, Company Distribution Network, 2020
Global Sodium Metabisulfite Market by Grade, 2015 – 2027
· Food Grade
· Industrial Grade
· Photo Grade
Global Sodium Metabisulfite Market by End-User Industry, 2015 – 2027
· Chemical & Pharma Industry
· Food & Beverages Industry
· Photography & Film Industry
· Pulp & Paper Industry
· Textile Industry
Global Sodium Metabisulfite Market by Region, 2015 – 2027
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Global Sodium Metabisulfite Market: Key Players
· Quimser SA
· Meizhou Union Chemical
· Zhengzhou Clean Chemical Co., Ltd.
· Henan Fengbai Chemical Co., Ltd
· Qingdao Tianya Chemical Co., Ltd
· Tangshan Sanjiang Chemical
· Aditya Birla Chemicals
· Esseco USA
· Yuanye Chemical