Sodium Benzoate Market Revenue, Growth Factors, Trends, Key Companies, Forecast To 2027 | Top Key Players Foodchem International Corporation, Wuhan Youji Industries Co., Ltd., DuPont de Nemours, Inc.,etc

The Global Sodium Benzoate Market is forecast to reach USD 597.6 Million by 2027, according to a new report by Reports and Data. Sodium Benzoate is an odorless partly hygroscopic crystalline common potassium salt of benzoic acid with alkalinizing property, which is manufactured by complete neutralization of benzoic acid with a high purity sodium carbonate or sodium bicarbonate or sodium hydroxide and subsequent crystallization. Sodium benzoate is approved by the European Union (EU) and European Free Trade Association (EFTA) as a safe food additive with a distinctive E-Number of E211. The global market is growing at a substantial pace due to the growing demand for sodium benzoates in food preserving applications and ornithine cycle disorder treatment. Continuous expansion of the food & beverage industries has directly influenced the growth of sodium benzoate as this chemical is utilized in the food-grade applications for preservation, flavor adjustment & enhancement, and buffering, among others.

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The Asia Pacific region is expected to retain its dominance in the global market. The market is North America is growing at a significant pace due to the extensive use of sodium benzoate in food preservatives and the healthcare applications. China and India are some of the fastest-growing markets in the world, while the Netherlands and the United States hold some of the most prominent players in the market.

Top companies in the market include: Foodchem International Corporation, Wuhan Youji Industries Co., Ltd., DuPont de Nemours, Inc., Huangshi Xinghua Biochemical Co., Ltd., Akzo Nobel N.V., Eastman Chemical Company, Emerald Performance Materials, AM Food Chemical Co. Ltd., American Tartaric Products, and FBC Industries Inc., among others.

Market Overview:

Increasing awareness regarding energy conversation and sustainability along with rapid digitalization are expected to significantly drive the revenue growth of the chemicals and materials industry over the coming years. Materials and chemicals industry generally covers all the manufacturers and companies that produce industrial chemicals and raw materials required for the production of other materials. Plastics, materials, drugs, soap, and agricultural chemicals, among others are some of the most common end products of the chemical and materials industry. Increasing focus on petrochemicals, rising investment in chemicals and materials industries, rapid digitalization and automation of manufacturing and production processes, and growing focus on environmentally friendly production are some other key factors driving market growth.

The report further segments the global Sodium Benzoate market on the basis of product types, application, and key regions of the market. The report offers accurate growth estimations for each segment and sub-segment and provides key insights into factors influencing the growth of each segment.

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Distribution Channel Outlook (Revenue, USD Million; 2016-2027)

Online Retailing

Offline Retailing

Application Outlook (Revenue, USD Million; 2016-2027)

Food Preservative & Acidulant

Antifoulants

Buffering Agent

Other Applications

End-Use Verticals Outlook (Revenue, USD Million; 2016-2027)

Food & Beverage Industry

Medical & Pharmaceutical

Personal Care Products

Others

Regional Analysis:

Regional analysis of the Sodium Benzoate market offers crucial insights into production and consumption patterns, import/export ratio, supply and demand dynamics, revenue contribution, and the market share and size in terms of volume and value. The report presents accurate analysis of the country-wise segmentation to offer better understanding of the market and provides information of the presence of key players/manufacturers in each region.

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Regional analysis covers the following region:

North America (U.S., Canada, Mexico)

Europe (U.K., Italy, Germany, France, Rest of Europe)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Further key findings from the report suggest

Growing penetration of the online retailing businesses for the chemicals and materials, especially in the emerging nations in the Asia Pacific, is helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Also, due to the non-involvement of distributors in the supply chain model, the profit margin is way more than that of the offline retailing. The online retailing is expected to gain a market share of 33.9% by 2027.

Sodium Benzoate acidulants are used in food & beverage applications as additives that provide a sharp taste in food items with assisting in the setting of gels to act as preservatives also. Also, Sodium Benzoate sequestering agents are used in foods & beverages so that they can stabilize the inner molecule and prevent deterioration in food color & aroma.

European region is forecasted to witness significant growth in the overall market, with 15.6% of market possession by 2027, having grown with a CAGR of 1.9% during the forecast period. The Netherlands holds some of the most prominent players in this region.

North America, with its high demand for sodium benzoate food preservative & antifoulants, is accounted to retain a significant position in the global market by 2027, and the CAGR is calculated to be 4.6% during the forecast period.

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