In the first and second quarters of 2023, the sorbic acid market in Asia experienced persistent price declines due to weak procurement rates from end-user industries, particularly in the food and pharmaceutical sectors. Subdued demand and rising inventories signaled sluggish trading sentiments, exacerbated by the Asian Pacific region’s fragile economic conditions and limited international buyer interest.
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In Europe, declining customer interest in the first quarter, coupled with increased ethylene supply and various challenges like labor issues and unfavorable weather conditions, contributed to a negative price trend for sorbic acid. In North America, reduced demand from end-user industries, fluctuating energy and freight costs, and declining sales in the food and beverage sector resulted in increased stockpiles and compromised pricing, hindering the sorbic acid price trend.
Definition
Sorbic acid is a naturally occurring organic compound with the chemical formula C6H8O2. It is a white, crystalline solid that possesses antimicrobial properties, effectively inhibiting the growth of molds, yeasts, and certain bacteria. As a food preservative, sorbic acid helps extend the shelf life of various products. It is odorless and tasteless, making it suitable for use in food and beverage applications. Sorbic acid is generally recognized as safe (GRAS) when used within established regulatory limits and is commonly found in a wide range of food items, cosmetics, and pharmaceutical products to prevent spoilage.
Key Details About the Sorbic Acid Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Sorbic acid in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Sorbic Acid Price chart, including India Sorbic Acid price, USA Sorbic Acid price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Sorbic Acid Price Trend:
Sorbic acid finds several industrial uses due to its potent antimicrobial properties. One of its primary applications is as a food preservative, where it helps extend the shelf life of various products by inhibiting the growth of molds, yeasts, and specific bacteria, particularly in baked goods, dairy products, and beverages. Sorbic acid is also utilized in the cosmetic industry to prevent the spoilage of cosmetics and personal care products. In the pharmaceutical sector, it serves as a preservative for medicinal formulations. Moreover, sorbic acid is employed in the production of adhesives and plastics, acting as an antimicrobial agent to maintain product quality and safety.
Key Players:
- Eastman Chemical Company
- Solvay
- Celanese Corporation
- Prinova Group LLC
- Continental Chemical USA
- ROSE FOODSTUFF CHEMISTRY COMPANY LIMITED
- Seidler Chemical Co Inc
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