Global Sodium Bicarbonate Market Overview
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.
According to chemview consulting , 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.
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Segments Covered in Report
By Grade Type:
- Pharmaceutical Grade
- Technical Grade
- Food Grade
- Feed Grade
- Processed Food
- Personal Care Products
- Agrochemicals & Nutrients
- Fire Extinguisher
- Leather & Dyeing
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)
- Based on grade type, 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% 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.
- Based opn end-use, processed food sector, which holds nearly 45.0% of the total market share, is anticipated to dominate the sodium bicarbonate market globally. 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.
- Based on region, 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.
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.
Key Global Sodium Bicarbonate Market players are Solvay SA, Merck KGaA, Nirma ltd., Tata Chemicals Ltd., GHCL Ltd., and Ciech SA.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
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