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Sodium Bicarbonate Market Top Key Players: Solvay, Tata Chemicals, FMC Corporation, Opta Minerals Inc, Tosoh Corporation, Vitro S.A, Crystal Mark, Inc., Natural Soda, LLC

Sodium Bicarbonate Market

Sodium Bicarbonate Market

Global sodium bicarbonate market to grow with a CAGR of 4.9% till 2024. The growth is accelerated by increasing application of sodium bicarbonate in food and beverage industry. Increasing consumption in bakery and confectionary products such as cakes, cookies, wafers and others are positively influencing the market over forecast period. In addition, change in consumer preferences towards international cuisine is increasing the consumption tendency of meat, dairy and fish products. As a result, this has led rise to various health issues such as gases and acidity globally among people. Thus, sodium bicarbonate is primarily used for treating alkaline level and pH level of body which is likely to grow the market in coming years.

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Agriculture industry is growing immensely with rising population globally which has led to increase in cultivation activities to feed such large population which in turn is driving the market for agrochemicals industry. Sodium bicarbonate is one of the natural bleaching agent used in different agrochemical products such as pesticides, insecticides and others. Therefore, higher agricultural actives will promote demand for agrochemical products which will gain significant market revenue over the forecast period.

The global sodium bicarbonate market is hindered by complication and side effect on the its consumption. High consumption of this products for longer period can cause severe health problem such as allergic reactions, arthritics and breathing problem. Further there are certain restriction on sodium bicarbonate on its application in food and medical items which will negatively influence the market growth by 2024.

Increasing usage of sodium acetate and yeast alternative to sodium bicarbonate will decelerate the sodium bicarbonate market growth in coming years. Growing application of sodium acetate product in food industry coupled with its excellent antibacterial properties is likely to challenge market demand in forecast period.

Crystal/powdered crystal is one of the growing segment in the sodium bicarbonate market with a CAGR of 5.5%. The product segment is driven by increasing usage in several end-user industries. Growing food & beverage industry is primarily driving the segment, favoring the consumption of crystal/powdered crystal form in various food products. Second highest market growth is projected by liquid form which is likely to grow with a CAGR of 4.6% with increasing application in pharmaceutical industry.

Food and beverage industry is among fastest growing industry, by a CAGR of 5.3%. Followed by food and beverage, agrochemical industry is witnessing high demand for sodium bicarbonate products. Rising application of this products in pesticide chemical is likely to accelerate sodium bicarbonate market demand by 2024.

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Industry Growth drivers –
• High consumption in food industry
• Growing product demand from personal care industry

Segmentation of Sodium Bicarbonate Market, Form By End-user

o Crystal/powdered crystal
o Food & beverage
o Industrial
o Pharmaceutical
o Personal care
o Agrochemical
o Animal feed
o Liquid
o Food & beverage
o Industrial
o Pharmaceutical
o Personal care
o Agrochemical
o Animal feed
o Slurry
o Food & beverage
o Industrial
o Pharmaceutical
o Personal care
o Agrochemical
o Animal feed

Browse Full Report: https://www.gminsights.com/industry-analysis/sodium-bicarbonate-market

Asia Pacific market is significantly growing with CAGR growth over 5.7% where China & India is majorly dominating the market. Rapid industrialization and rising population in the province is augmenting the demand in various industries. LATAM is growing significantly due to increasing application in food and beverage products.

The sodium bicarbonate market has several market players with numerous local & global manufacturers, supplier and distributors functioning across the globe. Some of these key market players follow both backward integration such as TATA chemical and Solvay. Prominent industry players include Blastrite, FMC Corporation, Solvay Specialty, Natural Soda, Tosoh Corporation, Crystal Mark, Tata Chemicals, Opta Minerals and Vitro S.A.B.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Corporate Sales, USA
Global Market Insights, Inc.
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