Potassium Iodide Market Growth Analysis With Investment Opportunities For 2024-2033

LONDON, GREATER LONDON, UK, July 24, 2024 /EINPresswire.com/ -- The potassium iodide market has experienced robust growth in recent years, expanding from $0.90 billion in 2023 to $0.97 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to the rise in demand for nutritional foods, high health concerns, increased number of CT examinations, growth of the food & beverages and pharmaceutical industries, and demand for diagnostic imaging treatments in the pharmaceutical sector.

Strong Future Growth Anticipated
The potassium iodide market is projected to continue its strong growth, reaching $1.31 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to the increasing prevalence of thyroid disorders and iodine deficiency disorders (IDDs), growing awareness of the importance of iodine supplementation, rising concerns about nuclear accidents and radiation exposure, increasing demand from the food and beverage industry, growth in industrial applications.

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Growth Driver Of The Potassium Iodide Market
The increasing demand for nutritional supplements is expected to propel the growth of the potassium iodide market going forward. Nutritional supplements refer to products containing essential vitamins, minerals, amino acids, and other substances intended to supplement one's diet and support overall health and well-being. The demand for nutritional supplements is increasing due to several factors, such as growing awareness of the importance of nutrition for health maintenance, rising interest in preventive healthcare, lifestyle changes leading to dietary deficiencies, and aging populations seeking support for various health concerns. Potassium iodide is used as a nutritional supplement to support thyroid function and prevent iodine deficiency disorders, such as goiter and hypothyroidism, by providing a source of essential iodine in the diet.

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Major Players And Market Trends
Key players in the potassium iodide market include Thermo Fisher Scientific Inc., Honeywell International Inc., Merck KGaA, Univar Solutions Inc., Arkema Group, Avantor Inc.

Major companies operating in the potassium-iodide market are adopting a strategic partnership approach to enhance product accessibility and cater to diverse consumer needs. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success.

Segments:
1) By Product Type: Solid, Liquid
2) By Grade: Industrial Grade, Pharmaceutical Grade, Feed Grade
3) By Application: Pharmaceutical Industry, Nutritional Supplements, Industrial Applications, Radiation Protection, Photography And Imaging, Other Applications

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the potassium iodide market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the potassium iodide market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Potassium Iodide Market Definition
Potassium iodide (KI) is a chemical compound consisting of potassium and iodine, commonly used as a nutritional supplement and in medical treatments for thyroid-related conditions. It is also employed as a radiation protective agent to prevent the uptake of radioactive iodine by the thyroid gland during nuclear emergencies.

Potassium Iodide Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Potassium Iodide Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on potassium iodide market size, potassium iodide market drivers and trends, potassium iodide market major players, potassium iodide competitors' revenues, potassium iodide market positioning, and potassium iodide market growth across geographies. The potassium iodide market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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