US Sorbic Acid Market

The US Sorbic Acid market was estimated to be USD xx Million in 2020 and is anticipated to touch USD xx Million by the end of 2028, while increasing at a CAGR of 3% to 5% during the forecast period (2021-2028).

Introduction of the US Sorbic Acid Market Report

Sorbic Acid is a natural organic compound which is used as a preservative in food products. It is the most commonly used food preservative globally and makes the food chain possible. Sorbic Acid is extensively effective at inhibiting the growth of mold, which can spoil food and spread fatal diseases. It is applied to food by either dipping or spraying the food with a solution of water and sorbic acid.

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Market Dynamic

Key Drivers and Emerging Trends

The major factor augmenting the growth of the Sorbic Acid market in US is the increasing popularity of convenience food products. There has been an increase in the demand for convenience food products, including fast food items, ready-to-eat food products, and other related products, which is surging the demand for sorbic acid, especially for preservation. According to the U.S. Department of Agriculture, there has been a significant increase in American consumers who are opting for convenience food products. As per the USDA, the total expenditure at grocery stores, supermarkets, convenience stores, and other retailers surged by 25%, which was USD 63 billion in February 2020 to USD 79 billion in March 2020.

Sorbic acid, also known as 2,4-hexadecanoic acid, is often used as a food preservative that avoids the growth of yeast, bacteria, and molds. Additionally, the increasing usage of sorbic acid in different food products such as ready-to-eat deals as it offers various advantages is further driving the market growth. Moreover, As United States comprises of more than 3000 sugary drinks manufacturing companies with increasing investment and research expenditures in the food industry which propels the demand for the sorbic acid market. For instance, as per the Committee for Economic Development Organization report in 2019, the investment in food industry research and development increased nearly doubled reaching USD 5.4 billion annually whereas venture capital firms in the United States invested around USD 3 billion in the food market and processing technologies. It created massive demand for the growth of the US sorbic acid market. Further, according to the U.S. Department of Agriculture in 2019, U.S. businesses, consumers, and government entities have spent over USD 1.77 Trillion on food and beverages industry which includes sale through the grocery stores, retailers, on away-from-home meals and snacks.

Restraint in the US Sorbic Acid Market

Presence of several alternate substitute food additives sorbic acid may hinder the market growth. There has been an increase in the demand for food products with minimum or no artificial ingredients. American consumers are becoming aware of the various side effects resulting from the consumption of artificial preservatives. They are artificially produced and synthetic in nature.

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Form – Segment Analysis

Based on the Form, the powder segment is anticipated to grow at a faster CAGR over the forecast period. The easy application feature of the powdered form of sorbic acid is the major factor that is surging the segment’s demand in the market. It can be added to any type of processed food or beverages, thus leading to its extensive usage in the food & beverage sector. The sorbic acid appears as a white powder or crystals and has a melting point 134.5°C and has an astringent taste with a faint odor. The powdered form of sorbic acid is colourless or white free-flowing powder with a purity not less than 99.0% and molar mass of 112.12 g mol− 1. These factors are bolstering the powder segment in the sorbic acid market in the US.

Food – Segment Analysis

Based on the Food, the dairy products segment is projected to grow at a higher CAGR during the forecast period owing to the growing demand for preservatives in dairy and dairy-related products such as cheese, yogurt, sour cream, among others, for longer shelf life. Sorbic acids and benzoic and their salts are increasingly used in the preservation of various dairy products. These additives are effective in inhibiting mold and yeast growth and exhibit inhibitory effects against a wide range of bacteria. The undissociated forms, favored at low pH values, are largely responsible for the inhibitory effects of benzoic and sorbic acids and their use in chiefly acid foods. These factors are surging the growth of the dairy products segment in the sorbic acid market.

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Key Developments:

• • In 2021, Eastman, one of the leading global specialty materials providers, launched a revolutionary new patent-pending product, Fluid Genius, equipping engineers and operations managers with predictive insights to optimize heat transfer fluid performance. Fluid Genius uses artificial intelligence to maximize and monitor fluids’ life cycle heat transfer for many system applications.
  • In 2021, Eastman Chemical Company collaborated with SAP to pilot the GreenToken that enables traceability with certified recycled content for the value chain with the help of blockchain technology. The collaboration will leverage the blockchain-based platform of GreenToken for providing visibility through the value chain of sustainable products, such as specialty plastics, chemicals, etc., for molecular recycling technologies.
  • In 2020, Daicel Corporation completed the 100% acquisition of the Polyplastics Co., Ltd. With this acquisition, Polyplastics is now a wholly owned subsidiary of Daicel Corporation, and it will not affect the business partnership with the company’s business partners.

Segments covered in the Report:

The US Sorbic Acid market is segmented into Food, Type, and Form. Based on the Food, the market has been segmented into bakery products, dairy products, meat & seafood, fruits & vegetables, and others. Based on the Type, the market has been segmented into cellulose, activated carbon, phosphorus, and others. Based on the Form, the market has been segmented into powder and encapsulated.

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Key questions answered in this research report:

• • At what pace is US Sorbic Acid market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in US Sorbic Acid market? What will be the impact of drivers and restraints in the future?
  • Which type generated maximum revenues in 2020 and identify the most promising application during the forecast period?
  • What are the various Food areas of US Sorbic Acid market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

US Sorbic Acid Market by Food

• • Bakery Products
  • Dairy Products
  • Fruits & Vegetables
  • Meat & Seafood
  • Others

US Sorbic Acid Market by Type

• • Cellulose
  • Activated Carbon
  • Phosphorus
  • Others

US Sorbic Acid Market by Form

• • Powder
  • Encapsulated