New York, USA, Nov. 15, 2022 (GLOBE NEWSWIRE) -- Sodium Bicarbonate Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Sodium Bicarbonate Market Information By Grade, By End-User, By Regions - Forecast till 2030”, the market is estimated to grow at a 4.85% CAGR to reach USD 13 Billion by 2030.
Market Scope:
Sodium bicarbonate is a common chemical that is also known as baking soda or sodium hydrogen carbonate. A white crystalline powder or granule, Xanthan Gum has a mild salty flavor and a refreshingly cold effect. In water, it exhibits a moderate degree of solubility. It's a crucial component of many household items like baked goods, detergents, and cleaners.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 13 Billion |
| CAGR | 4.85% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Grade, By End-User, By Regions |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Sodium bicarbonate has seen a surge in demand due to packaged foods. |
| In the coming years, demand for sodium bicarbonate will increase as baking products gain in popularity. |
Competitive Analysis:
Most of the market's top dogs are investing in digital technologies and streamlined procedures to boost output. In order to keep their dominant market position over the long term, many large companies are actively seeking out opportunities for strategic expansion while maintaining a relentless focus on the delivery of superior products for final consumption. Industry leaders are investing heavily in digital technologies and streamlined procedures to boost productivity. In order to maintain their market position over the long term, several of the industry's most significant firms are actively pursuing strategic expansions and putting a premium on the delivery of high-quality end-use products. The major market players are:
- Solvay
- Tata Chemicals Ltd
- CIECH Group
- Şişecam Group
- Church & Dwight Co., Inc.
- Tosoh Corporation
- AGC Inc
- Novacap
- NATURAL SODA LLC
- KAZAN SODA ELEKTRIK
- Bashkir Soda Company
Market USPs:
Market Drivers:
Aside from the food and beverage industry, sodium bicarbonate has many other applications. Products from the food and drink industry can be used as leavening in baked goods, odor absorbers in the kitchen, fruit cleaners, and even in the bathroom (for example). Bicarbonate of sodium is used to keep foods from going rancid, in addition to maintaining consistency and extending shelf life. Recent years have seen a rise in demand for sodium bicarbonate due to its widespread use in processed goods. Modifications in customer tastes and dietary habits have had an effect on the packaged and ready-to-eat food industry. Sodium bicarbonate's popularity will rise in the kitchen during the next few years, driving up demand. Baking soda is becoming increasingly in demand because of the proliferation of its use in non-dietary applications. Sodium bicarbonate is another widely used substance in cosmetics.
Market Restraints:
However, the manufacture and distribution of pharmaceutical grade sodium bicarbonate is subject to stringent rules and certifications, which is anticipated to slow growth prospects over the forecast period.
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COVID-19 Analysis:
The production of sodium bicarbonate has suffered because of the COVID-19 epidemic. Many different types of end-use markets are undergoing a series of severe shocks at the same time as global supply chains are breaking down and the competitive landscape for manufacturers and producers is constantly shifting. Global chemical producers have reached their maximum output because of insufficient demand. Once travel limitations are lifted, the subsequent social distance should evaporate, and life can go back to normal. Limiting factors for market expansion over the foreseeable period include potential negative effects on human health.
Market Segmentation:
By Grade
Over the study period, the feed grade subsegment is projected to grow at the highest rate.
By End-User
Feed represents the largest end-use market for sodium bicarbonate, accounting for approximately one-fourth of total bicarbonate use worldwide.
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Regional Analysis:
The North American market is expected to expand at a rapid rate due to rising demand from several end-use sectors including animal feed, food production, insecticides, medicines, and water treatment. Expanding access to these applications is another goal of a well-designed government R&D financing program. NaHCO3 is in high demand in North America due mostly to the region's booming food and beverage and pharmaceutical markets. In addition, the pharmaceutical and personal care product industries are anticipated to be major drivers of growth in the North American sodium bicarbonate market throughout the forecast period.
Need for sodium hydrogen carbonate is a reflection of the expanding pharmaceutical business, the well-established personal care industry, and the rising demand for meat and eggs. The expansion of the sodium bicarbonate market has led to the development of related industries in the area, including those relating to the production of pharmaceuticals and personal care products. Due to the presence of numerous end-use industries in Germany, such as those involved in the manufacture of fire extinguishers, flue gas desulfurization, food processing, pharmaceutical research, and the creation of personal care and cosmetics, it is expected that the demand for sodium bicarbonate will increase significantly. Other important European markets after Germany's are France and the United Kingdom. Conducive conditions for implementation result from positive industrial activity. However, after Brexit, trade limitations pose potential difficulties for the United Kingdom.
The Asia-Pacific region has the highest CAGR of 5.56 percent and the greatest share of the sodium bicarbonate market. The expansion of the agricultural, food and beverage, personal care, and pharmaceutical industries are only some of the factors driving the region's high need for sodium bicarbonate. Sodium bicarbonate demand in the region is affected by a number of factors, including industrialization and increased per capita income. Chinese demand for animal feed containing sodium bicarbonate has increased considerably in recent years. This increase is a direct result of the booming livestock industry in the country. Currently, China produces more feed than any other country. India's market may be smaller than that of the rest of ASEAN as a whole, but it is forecast to increase steadily in the next years due to the country's heavy reliance on chicken farming, its quickly increasing pharmaceutical industry, and its expanding personal care market.
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