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Sodium Bicarbonate Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Grade, Form, and End User
The sodium bicarbonate market is expected to grow from US$ 1596. 37 million in 2021 to US$ 2133. 33 million by 2028; it is expected to grow at a CAGR of 4. 3% from 2021 to 2028. Sodium bicarbonate is a chemical compound with the formula—NaHCO?
New York, July 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sodium Bicarbonate Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Grade, Form, and End User" - https://www.reportlinker.com/p06295703/?utm_source=GNW
It is widely used in food & beverages, chemical, pharmaceutical, agriculture, and cosmetic & personal care industries.
The global market for sodium bicarbonate is mainly driven by the increasing consumption of different baked goods.Bread, biscuits, cookies, pastry, pies, desserts, and baked goods are commonly consumed globally.
In addition, the growing food & beverages sector in various countries generates considerable demand for sodium bicarbonate, as it has a wide range of applications in the food & beverages industry.The sodium bicarbonate market growth is also driven by the rising demand for the product from the animal feed industry.
Animal feed use is increasing with the continued growth of the dairy & chicken meat sectors. This is fueling the sodium bicarbonate market growth. Further, increasing demand for different cosmetics and personal care products is also boosting the market growth. In the personal care industry, sodium bicarbonate is used to aid in cleansing the skin. Further, many hair care product manufacturers use sodium bicarbonate as it can mix with oil and fat. Sodium bicarbonate reacts with odor-causing compounds and absorbs moisture, such as sweat. Hence, it is used as an ingredient in natural deodorants. However, the environmental impacts of sodium bicarbonate are hampering the market growth.
Based on grade, the global sodium bicarbonate market is segmented into food grade, pharmaceutical grade, feed grade, and technical grade and others.The technical grade and others segment held the largest share in the global sodium bicarbonate market in 2021.
Technical grade sodium bicarbonate finds application in the commercial & industrial sectors.It is used as a chemical compound in cleaners and other products.
It is not intended for applications, directly or indirectly, related to human consumption.Refined grade of sodium bicarbonate is used for various industrial applications, such as specialty chemical synthesis, high-quality dyes, leather, and metallurgy.
The increasing use of technical grade sodium bicarbonate in various application fields propel its demand.
In 2021, Asia Pacific held the largest revenue share of the global sodium bicarbonate market.Australia, China, India, Japan, and South Korea are the key contributors to the sodium bicarbonate market in Asia Pacific.
The high demand for sodium bicarbonate from food & beverages, agriculture, pharmaceutical, chemical, and cosmetics & personal care industries in the region is a major factor driving the growth of sodium bicarbonate.This region is one of the prominent markets for the utilization of sodium bicarbonate in the bakery & agriculture industries.
The region’s growing population has increased the need for food crops, which has fueled the usage of crop protection chemicals, including sodium bicarbonate, to increase agricultural productivity. The major players operating in the Asia Pacific sodium bicarbonate market include GHCL Limited; Solvay S.A.; and Ciech Group. In recent years, the major market players in the region have invested heavily in R&D initiatives. This significant increase in investment in research and development activity is expected to propel the sodium bicarbonate market growth.
Solvay S.A.; Tosoh Corporation; Burwell Technologies; All Chemical Manufacturing & Consultancy Pty Ltd; Pon Pure Chemicals Group; Church & Dwight, Inc.; Si?ecam; AGC Inc.; Ciech S.A.; and GHCL Limited are a few of the major players operating in the global sodium bicarbonate market. Market players operating in the global sodium bicarbonate are constantly focusing on strategies such as investments in research and development activities. These market players are highly focused on the development of high-quality and innovative product offerings to fulfill customer requirements.
The size of the overall global sodium bicarbonate market has been derived using both primary and secondary source.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants to validate the data as well as gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the sodium bicarbonate market.
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