Sodium Bicarbonate Market

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.

Market Dynamic

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:

• Pharmaceutical Grade
• Technical Grade
• Food Grade
• Feed Grade

By End-Use:

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

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

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.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.

• Over 21.0% of the sodium bicarbonate market in Europe comes from Germany. It is probably going to go on till the end of 2032. Due to numerous end-use sectors, such as the manufacturing of fire extinguishers, flue gas desulfurization, food processing, pharmaceutical research, and personal care and cosmetics, the demand for sodium bicarbonate in Germany is predicted to increase significantly.
• More than 80.0% of the North American market, which makes up 20.0% of the worldwide market share, belongs to the United States. The enormous food and beverage and pharmaceutical industries are primarily responsible for North America’s need for sodium bicarbonate.

Competition Analysis

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:

• Solvay SA
• Merck KGaA
• Nirma ltd.
• Tata Chemicals Ltd.
• GHCL Ltd.
• Ciech SA
• DCW Ltd.
• Seqens group
• Tosoh Corporation
• Hawkins, Inc.
• Vitro
• Church & Dwight Co., Inc.

Global Sodium Bicarbonate  Market 2022-2032: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies