The Potassium Metabisulfite Market expansion can be attributed to the increasing demand from the food & beverage industry, especially for wine and beer applications, textile industry, gold processing, and photography for development
JERSEY CITY, N.J., Feb. 8, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Potassium Metabisulfite Market" By Type (Industrial Grade and Food Grade), By Application (Wine, Beer, Photography and Film, Food, Textile, Gold Processing, and Pharmaceuticals). According to Verified Market Research, the Global Potassium Metabisulfite Market size was valued at USD 384.75 Million in 2020 and is projected to reach USD 502.91 Million by 2028, growing at a CAGR of 3.45% from 2021 to 2028.
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Browse in-depth TOC on "Potassium Metabisulfite Market"
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37 - Figures
Global Potassium Metabisulfite Market Overview
Potassium Metabisulfite is widely used in winemaking. It has been used for the manufacturing of wine worldwide. During the winemaking process, potassium metabisulfite is used as an additive during the bottling process. It also protects the color and flavors of the wine. It also inhibits the growth of harmful microorganisms. Europe is a major market for Potassium Metabisulfite. The region consists of top wine-producing countries - Italy, France, and Spain. Italy is the leading wine-producing country at a global level both in terms of volume and exports.
In 2018, Italy produced around 19% of the world's wine, an increase of 29% from 2017. Also, around 7.58 billion bottles of wine were produced in the country in the year 2018. In 2020, the United States produced over 607.5 million gallons of wine. It is the fourth-largest producer of wine and the largest consumer of wine in the world. The number of wineries in the US has increased to 10,043 in 2019 from 2,230 in 1998. On a global note, the consumption is increasing, however, the Covid-19 had severely affected the global wine consumption owing to the badly affected travel and tourism industry and a weakened economy.
In the long run, demand for Potassium Metabisulfite is expected to be positive. Potassium Metabisulfite is also used in the textile industry for cotton printing and dying. China is the leading manufacturer and exporter of textiles in the world. Cotton fabrics are among the eight major categories of China's textile industries. The country produces 52.2% of the garment products of global garments production. Thus, demand for Potassium Metabisulfite is expected to increase in the country, in the years to come. Apart from this, it is also used to precipitate gold from dilute hydrochloric acid solutions as alternatives to sodium sulfite. It is also used for developing solutions for photographs.
Key Players
The major players in the market are Esseco, BASF, Aditya Birla Chemicals, Imperial Oilfield Chemicals, Jay Dinesh Chemicals, Shalibhadra Group, Triveni Chemicals, Shakti Chemicals, Ultramarines India, Advance Chemical Sales, Ram-Nath & Co., Pat Impex, Shandong Minde Chemical, and Zibo Baida Chemical.
Verified Market Research has segmented the Global Potassium Metabisulfite Market On the basis of Type, Application, and Geography.
- Potassium Metabisulfite Market, By Type
- Industrial Grade
- Food Grade
- Potassium Metabisulfite Market, By Application
- Wine
- Beer
- Photography and Film
- Food
- Textile
- Gold Processing
- Pharmaceuticals
- Potassium Metabisulfite Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
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