Sodium Bicarbonate Market is Expected to Witness a Promising Growth of 4.3% during forecast period, 2022-2029 | Size, Growth, Analysis Report

Sodium Bicarbonate Market

GMI Research estimates the Sodium Bicarbonate Market is expanding at a compound annual growth rate of 4.3% during the period, 2022-2029.

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The factors driving the growth of Sodium Bicarbonate Market includes increasing application of sodium bicarbonate in the end-use industries such as pharmaceutical, agrochemicals and processed food, rising focus by manufacturers on delivering high-quality end-use products and growing demand for skin care and personal care products around the world. According to the report published by Statista, the Global Beauty & Personal Care Market is expected to reach USD 534 billion by the end of 2022, growing at a CAGR of 5.86% over the forecast period (2022-2026), which will accelerate the Global Sodium Bicarbonate Market in the approaching years. Moreover, Government policies mandating the use of sodium carbonate ingredients, increasing consumption of meat across the world, rising consciousness amongst consumers about maintaining personal health and hygiene and expansion of the e-commerce industry, are some of the additional factors supplementing the Sodium Bicarbonate Market size. In addition, the growing adoption of advanced technologies by manufacturers, availability of sodium bicarbonate ingredients at offline and online retail channels and increasing investments by leading players on research and development, are further contributing towards the market growth.

However, growth of the Sodium Bicarbonate Market is hindered due to disruptions in the global supply chains.

The major players operating in the market are Tata Chemicals Ltd., GHCL Limited, Ciech S.A., Solvay SA, Merck KGaA, Nirma Limited, Hawkins, Inc., DCW Limited, Seqens Group and Tosoh Corporation, among others.

Based on Form, the Powder segment is predicted to grow at a significant CAGR during the forecast period

Sodium Bicarbonate acts as a key ingredient in the baking powder along with growing demand for powdered form of NaHCO3 in chemical, leather & dyeing and pharmaceutical industries, are some of the factors responsible for the segment's growth.

Based on End-Use, the Processed Food segment is projected to grow at a higher CAGR over the forecast period

Growing demand for baking soda products in the food and beverage industry and increasing use sodium bicarbonate for making cookies, cakes, and donuts, are propelling growth of the segment.

Based on Region, the Asia-Pacific region is anticipated to grow at a remarkable CAGR during the forecast period

As per the Sodium Bicarbonate Market Report, presence of major companies such as Nirma Limited, Tata Chemicals Ltd. and DCW Limited, growing demand for skincare and personal care products, rising per capita income and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.

Key Development

In 2019, Solvay SA has announced to enhance its sodium bicarbonate production capacity by 200 kilotonnes in its Devnya plant in Bulgaria by 2020, which will enable the company to produce SOLVAIR sorbents, sodium-based solutions that treat exhaust gases from factories and ships.

Market Segmentation

Segmentation by Grade Type

Pharmaceutical Grade
Technical Grade
Food Grade
Feed Grade

Segmentation by Form

Powder
Pellets
Slurry
Liquid

Segmentation by End-Use

Processed Food
Pharmaceuticals
Personal Care Products
Chemicals
Agrochemicals & Nutrients
Detergent
Fire Extinguisher
Leather & Dyeing
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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This release was published on openPR.