The potassium nitrate market has an excellent growth due to major use in food & beverages, pharmaceuticals, and agriculture industries. Potassium nitrate is majorly used to preserve food items such as meat. In addition, it is used in production of fertilizers. Moreover, governments of developed countries offer subsidies on fertilizers, which stimulates the market growth and is represented as a major driver for the potassium nitrate market. In the defense sector, it is used as gunpowder in explosives such as grenades and bombs, hence is a major contributor toward the market growth. In pharmaceutical, many drugs are made with the use of potassium nitrate. Some government rules & regulations such as banning of fireworks and restriction on bombs and grenades act as restraint for the potassium nitrate market.