Global Sodium Bicarbonate Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Sodium Bicarbonate Market was worth US$ 1,872.0 Mn and is expected to grow at a CAGR of 4.0% over the forecast period. While the historical CAGR is 3.6%, the market is expected to hit US$ 2,771.0 Mn by 2032 end.
Baking soda and sodium hydrogen carbonate are two common names for sodium bicarbonate. It tastes cold and somewhat salty, is odorless, and comes in white crystalline powder or granule form. It is just slightly soluble in water. It is a vital component of many bread goods and is used in various detergents and cleaning supplies.
THE RISING DEMAND FOR CONVENIENCE MEALS IS DRIVING MARKET EXPANSION
Because of our busy, fast-paced lives, rising global demand for convenience foods will fuel the market expansion. According to a survey, Americans favor processed foods over freshly baked goods, which has resulted in a considerable drop in food product prices over the previous few years. Consumers tend to eat edible goods that may be prepared quickly or don’t require much baking or cooking. The convenience food industry will benefit from the trends above, which are also expected to increase demand for sodium bicarbonate in the coming years. Sodium bicarbonate is used in the food industry to control acidity, safeguard against caking, and lengthen product shelf life.
The market will be driven by an increase in the production of cakes, wafers, and crackers because the product is utilized in many other items, including cereals, ciders, dairy products, and confectioneries. Treating insects in farmlands and washing pesticides off fruits and vegetables drives the use of sodium bicarbonate in agrochemicals. Additionally, it is a natural substance that is eco-friendly. Thus it is applied as insecticides in agricultural fields, increasing the demand for sodium bicarbonate during the ensuing years.
HARMFUL ENVIRONMENTAL IMPACT HAMPER THE MARKET
The market for sodium carbonate is being constrained in its expansion due to concerns about its negative effects on the environment and health. To increase their market presence, businesses are concentrating on overcoming these obstacles. In 2019, Tata Chemicals Europe declared that its carbon capture and utilization (CCU) project would be used to manufacture sodium bicarbonate. The project also seeks to lower carbon emissions for the business.
The first large-scale initiative in the UK is a first for the globe to capture and purify carbon dioxide from plant emissions for use as a crucial raw material in producing high-quality sodium bicarbonate. Thus, the project lays the way for the decarbonization of industrial activities.
Market Segments Covered in Report
By Grade Type:
By Region and Country:
How is Pharmaceutical Grade contributing to revenue growth?
As it is widely used as an antacid and in hemodialysis solutions for treating chronic renal illnesses, the pharmaceutical industry is developing as a significant end-user, accounting for nearly 18.0% of total sales. The item is an antacid that aids in treating conditions such as asthma, diabetes, cancer, and renal disease. The product is used in pharmacies and hospitals to treat hazardous substances in the body.
Why is processed food sector expected to dominate the sodium bicarbonate market?
The processed food sector, which holds nearly 45.0% of the total market share, is anticipated to dominate the sodium bicarbonate market globally during the forecast period. In 2021, it was expected that the processed food category would account for more than 40.0% of market value.
One of the main factors propelling the expansion of the sodium bicarbonate market is the rise in demand for convenience foods. Its usage in baked goods like bread, biscuits, and cakes is motivated by its capacity to neutralize acidic conditions and maintain a steady food pH level. Additionally, sodium bicarbonate’s common environmental effect and inexpensive manufacturing costs benefit baking soda producers.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.
Key market participants in sodium bicarbonate concentrate on generating profits from their current product portfolios while investigating potential new uses. Key players are emphasizing expanding their sodium bicarbonate production capacity to meet the demand from various end-use sectors. Additionally, influential players are promoting geographic development to reduce the reliance on imported sodium bicarbonate.
A list of some of the key suppliers present in the market are:
Global Sodium Bicarbonate Market 2022-2032: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Grade Type, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Frequently Asked Questions
In the forecast period between 2022 and 2032, the market is expected to grow at a CAGR of 4.0%.
Because of our busy, fast-paced lives, rising global demand for convenience foods will fuel the market expansion.
Key Global Sodium Bicarbonate Market players are Solvay SA, Merck KGaA, Nirma ltd., Tata Chemicals Ltd., GHCL Ltd., and Ciech SA.
The market for sodium carbonate is being constrained in its expansion due to concerns about its negative effects on the environment and health.
Europe is expected to account for the largest market revenue share in the Global Sodium Bicarbonate market.
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