Sodium Metabisulfite Market (6.4% CAGR): Global Size & Growth Analysis By Credence Research

SAN JOSE, Calif. - April 7, 2021 - PRLog -- The global sodium metabisulfite market generated revenue of around USD 367.8 million in 2020 and expected to reach USD 562.7 Mn by registering CAGR of 6.4% during the forecast period.

Sodium metabisulfite is an inorganic compound preferably used as an antioxidant agent in pharmaceutical preparations. In addition, the compound also has applications in food preservation and industrial disinfectant amongst others. Extensively increasing food & beverages industry and rising production of pharmaceutical formulations are offering a favorable opportunity for growth of the market.

Key Trends in Global Sodium Metabisulfite Market

Increasing Adoption in Sodium Metabisulfite in Food & Beverages are Expected to Bolster Market Growth

Sodium metabisulfite is one of the important sulfites which is recommended as an antioxidant & belching agent and preservative in food items.  In addition, the compound is also used as reducing agent in fresh & dried fruits, vegetables and wines. Gradual shift in work-oriented lifestyle is majorly playing a role in increasing demand for packaged food and beverages. For instance, according to a study published on a health blog in 2020, the processed food accounts for around 25-40% of the person's daily intake in global level. In addition, according to another study published in 2019, an estimated 93.0% of the children in India consumes packaged food at least once a week. Such substantial demand and consumption for packaged food is expected to raise the adoption of sodium metabisulfite, which will eventually drive the market growth during the forecast period.

Impact of COVID 19 on Global Sodium Metabisulfite Market

Unexpected rise of coronavirus disease across the globe had negative impact across all of the industries. Imposition of sudden lockdowns and social distancing policies led to shutting down of packaged food & beverages production across several geographies. Further, these lockdown policies created a significant challenge for food supply chains, manufacturing, production, storage, and distribution. Due to shutting down of tourist places and industrial workplaces, the demand for packaged food declined dramatically. This decline in production and manufacturing of packaged food items hampered the growth of global sodium metabisulfite market during the pandemic. Moreover, closing of industrial sectors also deterred the adoption of sodium metabisulfite on global level. COVID 19 resulted into decline of market growth rate as compared to 2019.

To Understand How Covid-19 Impact Is Covered in This Report -  https://www.credenceresearch.com/report/sodium-metabisulfite-market

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