April 20, 2020
As per the report titled ‘Sodium Metabisulfite Market Size, By Grade By End-user, Industry Analysis Report, Regional Outlook Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, global sodium metabisulfite market is projected to cross USD 495 million by the year 2025.
Rapid growth of food & beverage industry is driving the demand for sodium metabisulfite for its use as a preservative owing to anti-microbial properties. Increasing consumption of packaged food products in developed nations is boosting the product adoption.
Growing usage of sodium metabisulfite in wastewater treatment is contributing to the market growth. Increasing industrialization and agriculture practice in developing countries such as India, China, UAE, Mexico, and South Korea are boosting the demand for technical grade chemical for de-chlorination applications.
In terms of grade, food grade segment is predicted to grow at 5.5% CAGR through 2025, generating a revenue of approximately USD 6.5 million. The growth is attributable to increased consumption of packaged food owing to surging food demand from the ever-growing population, coupled with increasing food products trades and rising awareness regarding the water treatment procedures. On the contrary, the negative impact of sodium metabisulfite on health may hinder the segment growth in the coming years.
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Meanwhile, industrial grade sodium metabisulfite market segment is estimated to expand with 5.2% CAGR over the forecast timeline, owing to extensive product use in various end user industries such as leather, water treatment plants, and gas processing. Industrial metabisulfite also serves as bleaching agent and is used in the production of paper pulp, cotton and wool.
Based on the end-user application, market share from leather segment is poised to register a growth rate of 4.6% over 2019-2025. Rising disposable income in tandem with growing consumer preference towards premium leather goods is fueling the segment growth. Furthermore, high operational costs and stringent labor standards in Belgium, Italy, and Germany have compelled leather industry players to shift their units to various Asian nations such as India, China, and South Korea with cheap labor cost and large workforce, enhancing the industry growth.
As per the report, sodium metabisulfite market in Asia pacific and Europe will see tremendous growth in the coming years, owing to escalating demand for packaged food products such as appetizers and frozen meals. Shifting consumer preference towards hygienic food packaging is further encouraging the use of sodium metabisulfite as preservatives. Whereas, Europe food grade sodium metabisulfite market growth is driven by growing bakery industry, for the product is used as reducing agent for preparation of dough.
Prominent players of global sodium metabisulfite market are BASF SE, Esseco USA LLC, Aditya Birla Chemicals (Thailand), Seidler Chemical Co., Tangshan Sanjiang Chemical Co., Ltd., Shandong Kailong Chemical Technology Development Co., Ltd., Grillo-Werke AG, Hydrite Chemical Co., Solvay S.A., Surpass Chemical Company, Inc., INEOS Calabrian Corp., Weifang Taida United Chemical Co., Ltd., Santa Cruz Biotechnology, Jay Dinesh chemicals, and Ak-kim.
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