Future Market Insights (FMI) has forecasted the sodium metabisulphite Market to grow with a year on year growth of 5.2% in 2022 reaching a value of about USD 192.7 Million by 2022 end. The global business is anticipated to witness a considerable CAGR of 5.3% during the period of 2022 and 2028.
| Attributes | Details |
|---|---|
| Base Year Value (2021A) | USD 183.2 Million |
| Estimated Year Value (2022E) | USD 192.7 Million |
| Projected Year Value (2028F) | USD 266.5 Million |
| Value CAGR (2022 to 2028) | 5.3% |
| Collective Value Share: Top 3 Countries (2022E) | 56.1% |
The use of sodium metabisulphite is increasing owing to the relative ease of handling, storage, transportation amongst others. Due to its increasing use across mining and several other applications a number of manufacturers have expanded the production capacity to cater the growing demand. Considering all these factors, FMI has forecasted the global sodium metabisulphite sales to reach a valuation of USD 266.5 Million by 2028.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 4.9% |
| H1,2022 Projected (P) | 5.4% |
| H1,2022 Outlook (O) | 5.3% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (-) 10 ↓ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 40 ↑ |
FMI presents a half-yearly comparison and insightful analysis of Sodium Metabisulphite market growth outlook along with market’s key developments. The market has been significantly influenced by certain demographic and macro-economic factors including rapid adoption of online food delivery and packaged food all over the globe.
The growth outlook of the market remains significantly uneven across various regions and is predominantly impacted by the intensity of packaged food manufacturers across the region.
According to FMI analysis, the variation between the BPS values observed in the Sodium Metabisulphite market in H1, 2022 - Outlook over H1, 2022 Projected reflects a decline of 10 units. However, compared to H1, 2021, the market is expected to spike by 40 BPS in H1 -2022.
Key reasons for this change in growth rate is attributed to rapid growth in online food delivery and packaged food products.
Growing number of working persons and ease of online food delivery is bolstering the sales of packaged food products. Furthermore, stricter requirements for industrial waste water treatment are expected to boost waste water treatment chemicals.
Despite these prospects, there are some likely challenges that stay ahead for the industry, which include a sudden consumer shift from packaged food to home-made food products owing to novel coronavirus outbreak.
Sales of sodium metabisulphite increased at 4.3% CAGR, between 2014 and 2021, with key applications accounting for a prominent portion of the global market. Due to the outbreak of the COVID-19 pandemic, demand for sodium metabisulphite gets decreased in 2020 and 2021, sales prospects were hampered, however growth is likely to resume in near future.
The market is signiifcantly driven by the end use industries such as, food & beverage, mining and water treatment and others. Due to Covid-19 crisis several industries have suffered and witnessed a negative growth outlook, but in the forecast period market is anticipated to witness significant growth owing to the higher consumption from end use industries. Fresh water supplies becoming scarce over the last decade around the world.
In addition, the risks of climatic change and water contamination have significantly increased. Various rules have been developed by concerned environmental agencies and government authorities in order to assist water conservation and prevent water pollution, resulting in an increase in the need for chemical water processing. Sodium metabisulphite is increasingly being used as alternative to conventional sulphur dioxide.
Due to its increasing use across mining and other applications a number of manufacturers have expanded the production capacity to cater the growing demand. Also, the growing need of water conservation and installation of water treatment plants in turn drives the demand for sodium metabisulphite.
Changing lifestyles have resulted in a major change in consumer eating habits, which has driven significant growth in the packaged food and beverage industry over the past decade. Sodium metabisulphite is used as a preservative for dried foods such as raisins and packaged chips and also, in fruit juices and vegetables, amongst others.
Food items spoil on contact with oxygen and water. Sodium metabisulphite forms a layer of SO2 over the surface, which restricts the growth of micro-organisms and thus, improves the shelf time of food items. Apart from this, sodium metabisulphite is also used in significant amounts in seafood processing to prevent melanosis or black spot, especially on shrimps.
According to FAO (UN Food and Agriculture Organization), the global seafood and fish production increased from 123,530 KT in 2000 to 154,850 KT in 2013 and is projected to further increase in the coming years. Moreover, sodium metabisulphite is also used as an important ingredient in bakery products to soften the dough mix
The covid-19 pandemic has had a negative influence on the world economy, with numerous business lines being disrupted as a result of decreased demand from end-use industries, as well as disruption in the supply chain.
Because of the lowered demand caused by the Covid-19 epidemic, many industries have also suffered. As, many governments imposed restrictions on the transportation of products across nations and within countries, firms were forced to suspend production owing to a scarcity of raw materials.
The reduction was further aided by limitations on the sale of non-essential products and the fear of contamination through manufacturing facilities. The food and beverage market, on the other hand, is predicted to recover from the shock over the forecast period.
However, due to rising consumption of Sodium Metabisulphite in various end-use industries, the market is likely to rise at a quicker rate in the forecast period, and it is expected to continue growing in the future due to the compound's substantial use in some upcoming applications.
As per FMI, the US is projected to account for a significant share in the global market of sodium metabisulphite. US is expected to grow at steady pace owing to the increased consumption of sodium metabisulphite from waterwaste treatment industry. Sodium metabisulfite is commonly used to remove chlorine from effluent water, as well as in the purification of aldehydes and ketones.
Hydrite Chemical, based in the US, has announced the acquisition of SERVCO, a speciality chemical company situated in Lubbock, Texas. This move will allow the organisation to expand its geographic reach and provide better service to its customers.
The sodium metabisulfite market is expanding by a rising food and beverage sector, particularly in developed countries such as the US as well as rising need for food packaging to protect food quality, which has significantly boosted market size throughout the anticipated time period.
Owing to the higher demand from both the sectors, US is expected to create a revenue of about USD 35.3 Million by the year 2028 in the global business of sodium metabisulphite.
Through 2028, the APEC region’s sodium metabisulphite demand is predicted to rise at a rapid pace. Several market participants in the region are increasing production capacities, and are improving market growth potential. Due to strong demand for the chemical in the food industry, Japan is likely to witness a significant growth in the market.
The consumption of processed food is increasing in Japan as disposable income rises and people's lifestyles change. The textile industry's increased focus on developing countries like Japan and India is also propelling the sulphur chemicals market in the area. Textiles are made with sulfur-containing compounds.
Sodium metabisulphite is widely used in the mining industry. The demand for this chemical in the country is being driven by these factors. Owing to the these factors Japan are expected to reach about USD 5.4 Million by the year 2028.
China is projected to reach an estimated value of USD 108.1 Million by the end of 2028. China is expected to lead the global sodium metabisulphite industry, both in terms of production and consumption. China is anticipated to hold relatively larger share of about 40% in the global market, owing to the rising demand from various industries, such as, food and beverage, textile and mining, amongst others. The region has easier availability of raw material and have large number of manufacturers for sodium metabisulphite.
The food & beverage industry segment is expected to grow at a prominent value of 5.2% CAGR, over the forecast period of 2021 to 2028. The rise in the global demand for packaged food items is likely to enhance the market, as this compound has significant applications in the food and beverage industries.
Also, the changing lifestyles have resulted in a major change in consumer eating habits, which has driven significant growth in the packaged food and beverage industry over the past decade.
Sodium metabisulphite is used as a preservative for dried foods such as raisins and packaged chips and also, in fruit juices and vegetables, amongst others. Food items spoil on contact with oxygen and water.
Sodium metabisulphite forms a layer of SO2 over the surface, which restricts the growth of micro-organisms and thus, improves the shelf time of food items.Apart from this, sodium metabisulphite is also used in significant amounts in seafood processing to prevent melanosis or black spot, especially on shrimps.
All these factors are expected to benefit the markey growth in the coming years.
Among Grade segments, the industrial/technical grade segment dominated the market of sodium metabisulphite accounting for 61.3% share, in terms of revenue.
Sodium metabisulphite is increasingly being used as an anti chlor agent in the water treatment industry. Stringent regulations and laws for water treatment by governments and other regulatory bodies have lead to increase for the demand of water treatment chemicals. Therefore, the industrial grade segment is projected to boost market demand over the forecast period.
Over the past few years, a shift of manufacturers and their focus towards emerging regions has been witnessed to meet the increasing demand of sodium metabisulphite. Several key players are also focusing on expanding their production capacities, launching of new product series, investment in research and development, mergers & acquisition activities.
For Instance
*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis is available in the report.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2028 |
| Historical Data Available for | 2013 to 2021 |
| Market Analysis | USD Million for Value and Tons for Volume |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; SEA and Pacific; China; Japan and Middle East & Africa. |
| Key Countries Covered | USA,Canada, Brazil, Chile, Peru, Argentina, Mexico, Columbia and the Rest of Latin America, Germany, Italy, France, UK, Spain, BENELUX, Russia, Rest of Western Europe, Russia, Poland, Rest of Eastern Europe, China, Japan |
| Key Segments Covered | Grade, Application, End Use Industry, Source and Region |
| Key Companies Profiled | Ak Kim Kimya Sanayi Ve Ticaret Anonim Sirketi; Aditya Birla Chemicals; BASF SE; Qingdao Tianya Chemical Co., Ltd; Yuanye Chemical Co., Ltd; Ineos Calabrian Corporation; Esseco Group S.r.l.; Grillo-Werke Aktiengesellschaft; Shandong Kailong Chemical Technology Development Co., Ltd.; Shanghai Jiading Malu Chemical Co., Ltd.; Meizhou Union Chemical Co., Ltd.; Tangshan Sanjiang Chemical Co., Ltd.; Sisecam Group; Ultramarines India ( P ) Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global Sodium Metabisulphite industry is expected to total US$ 192.7 Mn in 2022.
The Sodium Metabisulphite demand has been estimated to exhibit growth rate of 5.3% between 2022 and 2028 on value basis.
Food & Beverage Industry segment is expected to contribute significantly to the growth of the overall market.
Ak Kim Kimya Sanayi Ve Ticaret Anonim Sirketi, Aditya Birla Chemicals, BASF SE, Qingdao Tianya Chemical Co., Ltd, Yuanye Chemical Co., Ltd, Ineos Calabrian Corporation. and among others are the leading market players. The key players are expected to account for more than 60% of the global market share.
The demand in China is expected to increase by 6.3% CAGR between 2022 and 2028 on value basis.
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