The global sodium metabisulfite market is predicted to reach USD 562.7 million by 2027 from USD 367.8 million in 2020, exhibiting a CAGR of 6.4% during the forecast period 2021-2027.
Sodium metabisulfite is a white-colored crystalline compound, preferably used as an antioxidant and preservative in food items. The gradual shift of preference for the consumption of packaged food as well as alcoholic beverages is estimated to accelerate the market growth by 2027. This report published by Credence Research, “Global Sodium Metabisulfite Market,” offers comprehensive insights about market trends, prospects, and competitive scenarios in this industry.
Key Market Drivers and Restraints
This report offers an in-depth study of responsible market driving factors drivers and future growth opportunities for the growth sodium metabisulfite market. Moreover, the report also discusses the key factors hampering the growth of the global sodium metabisulfite market.
Impact of COVID 19
Implementation of lockdown and social distancing policies caused a major impact on the production of food items as well as pharmaceutical formulations. Moreover, the shutting down marketplaces resulted in the decline in consumption of alcoholic beverages, had a substantial impact on the adoption of sodium metabisulfite, and hampered the market growth. Moreover, disruption in the procurement of raw materials due to congestion of transport facilities also had a negative impact on the market.
The Asia Pacific to Dominate the Global Sodium Metabisulfite Market
The global sodium metabisulfite market report provides detailed insights about six major regions with all prominent countries. The global sodium metabisulfite market study from Credence Research offers exclusive research findings of key regional markets. In 2020, Asia Pacific dominated the global market and held around 45% of the market share.
The Industrial Grade Segment leads Global Sodium Metabisulfite Market
Based on grade, the sodium metabisulfite market is segmented into industrial, food, and photo. Increasing demand for the compound for applications such as antioxidizing agents, belching agent, and disinfectant properties are driving the growth of the industrial grade segment. Moreover, the same segment is likely to exhibit the highest CAGR by 2027.
Food & Beverages Industry to Hold the Lead Position in the Global Market
On the basis of end-user industry, the global sodium metabisulfite market is segmented as chemical & pharma, food & beverages, pulp & paper, photography & film, textile, and others. The food & beverages industry is estimated to register a higher CAGR for the study period.
Frequently asked questions about global Sodium metabisulfite market industry
The report offers in-depth consequences of COVID 19 on global Sodium metabisulfite market industry
This report enlists the top five players on the basis of volume as well as revenue
This report provides details of fastest growing type market for Sodium metabisulfite market industry
The report highlights most dominating as well as fastest growing economies for Sodium metabisulfite market industry
The global Sodium metabisulfite market report provide CAGR from 2021 to 2027
