DUBLIN, January 24, 2022–(BUSINESS WIRE)–The “Sodium Bicarbonate – Global Market Trajectory & Analytics” report has been added to from ResearchAndMarkets.com offer.
Global sodium bicarbonate market to reach US$1.7 billion by 2026
The global sodium bicarbonate market estimated at US$1.3 billion in 2020 is expected to reach a revised size of US$1.7 billion by 2026, growing at a CAGR of 5.2% on the period of analysis.
The growth of the global market is expected to be driven by growing demand from several end-use industries. The high demand for sodium bicarbonate is attributed to its easy availability and low production cost. The food industry should continue to represent one of the most attractive areas for sodium bicarbonate in the years to come.
The growing demand for sodium bicarbonate in the industry can be attributed to the increasing consumption of packaged and processed foods due to changing lifestyles and dietary preferences. The compound is widely used in the animal feed and nutrition industry and for bleaching textiles.
Some of the other important applications of sodium bicarbonate include leather, detergents, dyes, and flue gas desulfurization. Sodium bicarbonate is also used in various personal care products as a deodorizing agent.
Crystal/Powdered Crystal, one of the segments analyzed in the report, is expected to grow at a CAGR of 5.5% to reach US$1.5 billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Liquid segment is readjusted to a revised CAGR of 4.3% for the next 7-year period.
This segment currently accounts for a 12% share of the global sodium bicarbonate market. The crystalline form of sodium bicarbonate is used as an electrolyte replenisher, topical cleansing solutions, systemic alkalizer, and buffering agent. Growth in the powder segment is driven by greater convenience of use and increasing demand for sodium hydrogen carbonate in baking powder applications.
The US market is estimated at $317 million in 2021, while China is expected to reach $352.1 million by 2026
The sodium bicarbonate market in the United States is estimated to be worth US$317 million in 2021. The country currently accounts for a 23.92% share of the global market. China, the second largest economy in the world, is expected to reach an estimated market size of US$352.1 million in 2026 growing at a CAGR of 6.3% over the analysis period.
Other noteworthy geographic markets include Japan and Canada, each forecasting growth of 3.9% and 5% respectively over the analysis period. In Europe, Germany is expected to grow at a CAGR of approximately 4.2%, while the rest of the European market (as defined in the study) will reach US$371.8 million by the end of the year. analysis period.
Asia-Pacific holds a dominant position in the market, driven by growing demand for the compound from various industries including food and beverage, animal nutrition, pharmaceuticals, personal care, and agriculture. The Asia-Pacific market is benefiting from a heavy reliance on poultry farming as well as expanding personal care and pharmaceutical industries.
The North American market is expected to benefit from the growing adoption of sodium bicarbonate in the animal feed, pharmaceutical, food, water treatment and pesticide industries. The regional market is also supported by increased government funding to support R&D activity to find new application areas for the compound.
Slurry Segment to Reach $122.9 Million by 2026
The boiled form is used in pharmaceuticals and as an abrasive cleaning agent in industries. In the global slurry segment, the United States, Canada, Japan, China and Europe will drive the estimated CAGR of 3.6% for this segment.
These regional markets representing a combined market size of US$73.2 million in 2020 will reach a projected size of US$94.6 million by the end of the analysis period. China will remain among the fastest growing markets in this group of regional markets.
Led by countries such as Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$15.4 million by 2026, while Latin America will expand to a CAGR of 4% over the analysis period.
Main topics covered:
1. MARKET OVERVIEW
A prelude to sodium bicarbonate
As the race between the virus and vaccines heats up, where is the global economy going in 2021
Sodium Bicarbonate Market to Gradually Recover from COVID-19 Downturn
Global Market Outlook and Prospects
Growing Demand Accelerates Emphatic Journey of Global Sodium Bicarbonate Market
Feed, Food and Beverages Dominate Sodium Bicarbonate End-Use Market
Powder Form: Major Segment of the Sodium Bicarbonate Market
Asia-Pacific retains its triumphant position in the sodium bicarbonate market
Alternative products and health risks hamper growth
Recent market activity
2. FOCUS ON SELECT PLAYERS (Total 64 Featured)
Bashkir Soda Company JSC
Church & Dwight Co., Inc.
Crystal Mark, Inc.
Kazan Soda Elektrik Uretim AS
Natural Soda LLC
Opta Group LLC
Tata Chemicals Limited
In vitro chemicals
3. MARKET TRENDS AND DRIVERS
Additives for animal feed: the main application market for sodium bicarbonate
Demand for high-protein diets propels demand for sodium bicarbonate
The demand for meat and meat products will influence the growth of the sodium bicarbonate market
Rising poultry consumption bodes well for market growth
Food industry: vital role of sodium bicarbonate in improving food quality
Growing Demand for Baked Goods to Drive Sodium Bicarbonate Market
Growing popularity of convenience foods and ready-to-eat foods bodes well for the baking soda market
Rising Demand for Sodium Bicarbonate in Pharmaceutical Industry Drives Market Expansion
Growing Use of Detergents Drives Demand for Sodium Bicarbonate
Rising world population drives demand for protein alternatives
Fashion plays a key role in propelling demand for textile dyes
Personal Care and Cosmetics Market Growth to Drive Sodium Bicarbonate Demand
4. GLOBAL MARKET OUTLOOK
III. MARKET ANALYSIS
THE REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
UNITED ARAB EMIRATES
REST OF THE MIDDLE EAST
For more information about this report visit https://www.researchandmarkets.com/r/s0tpyp
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220124005524/en/
Laura Wood, Senior Press Officer
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