Sodium Nitrite Market Size, Share & Trends Analysis Report By Application (Food & Beverages, Corrosion Inhibitors, Pharmaceuticals), By Region, And Segment Forecasts, 2022 - 2030
New York, June 23, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sodium Nitrite Market Size, Share & Trends Analysis Report By Application, By Region And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p06288329/?utm_source=GNW
Sodium Nitrite Market Growth & Trends
The global sodium nitrite market size is expected to reach USD 557.5 million by 2030, as per the new report . The market is expected to expand at a CAGR of 4.3% over the forecast period. The demand is attributed to increasing demand for the preservatives in a food and beverage industry. Preservatives are used to increase a shelf-life of food items by retarding the spread of microorganisms and pathogens.
The product is a popular additive in the food industry, especially the processed meat industry.It is commonly used to improve meat flavor and keep the original color of the meat (to make it more presentable and appealing to consumers).
It also functions as an antioxidant and antibacterial, preventing the formation of dangerous bacterial organisms that destroy the meal. It is utilized not only in meat but also in other perishable foods to keep them fresh and prevent rot.
In the pharmaceutical sector, sodium nitrite is a well-known chemical molecule.Its most common application is as an antidote for cyanide poisoning, as it is quite effective even in severe cases.
Sodium nitrite is used in the production of saccharin and caffeine. It is also commonly utilized as a raw material and preservative in the pharmaceutical formulations like eye drops.
The growing consumer acceptance of processed food in the countries like China, India, Japan, and others is likely to bolster the demand for the product in Asia Pacific region.China is the world’s largest consumer for food and beverages.
The processed meat market of China majorly includes beef, pork, poultry, mutton, and others.
Sodium Nitrite Market Report Highlights
• The food and beverages application segment accounted for the largest revenue share of more than 20.0% in 2021. The growth is attributed to the increasing demand for the product as a preservative in processed meat
• The corrosion inhibitors segment was the second-largest application and is predicted to grow at a CAGR of 4.0% over the forecast period owing to its ability to reduce the corrosion rate by suppressing the anodic reaction
• Asia Pacific dominated the regional segment with more than 70% revenue share in 2021 due to the growth of the meat processing industry in the region
• The North America region is expected to grow at CAGR of 3.2% over the forecast period. The market is driven by the changing consumer preference toward processed food over the cooked food in the region
Read the full report: https://www.reportlinker.com/p06288329/?utm_source=GNW
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