The sodium bicarbonate market size has the potential to grow by USD 146.89 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by application (animal feed, food and beverage, FGT, pharma and cosmetics, and others ) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including AGC Inc., Church & Dwight Co. Inc., SEQENS GROUP, Soda Sanayii AS, Solvay SA, Tata Chemicals Ltd., Tokuyama Corp., Tokyo Chemical Industry Co. Ltd. , Tosoh Corp., and Vitro SAB De CV.
Market Overview
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Market Competitive Analysis
The sodium bicarbonate market is fragmented due to the presence of many international and regional players. Leading vendors hold strong positions in the market, and new entrants might find it difficult to compete with the products offered by the established vendors. AGC Inc., Church & Dwight Co. Inc., and SEQENS GROUP are some of the major market participants. Although the increasing demand from the food and beverage industry will offer immense growth opportunities, the threat of substitutes will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this sodium bicarbonate market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this sodium bicarbonate market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- AGC Inc.
- Church & Dwight Co. Inc.
- SEQENS GROUP
- Soda Sanayii AS
- Solvay SA
- Tata Chemicals Ltd.
- Tokuyama Corp.
- Tokyo Chemical Industry Co. Ltd.
- Tosoh Corp.
- Vitro SAB De CV
Sodium Bicarbonate Market: Segmentation by Geography
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APAC was the largest sodium bicarbonate market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing demand for new pharma products, cosmetics and personal care products, detergents and soaps, and chemical raw materials will significantly drive sodium bicarbonate market growth in this region over the forecast period.
56% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for sodium bicarbonate in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Sodium Bicarbonate Market: Segmentation by Application
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Sodium bicarbonate is used as a key ingredient in the animal feed industry. Natural feed-grade sodium bicarbonate reduces the acidic conditions while stabilizing the rumen pH and provides excellent buffering qualities. Sodium bicarbonate is used as an effective buffering agent that maintains the pH between 5.5 and 6.8. Sodium bicarbonate is used as a replacement for salt in poultry feed to make the eggshells stronger. It also provides an alternative source of sodium that helps provide drier litter and a healthy living environment. These benefits are expected to fuel the demand for sodium bicarbonate from the animal feed industry.
Market growth in this segment will be faster than the growth of the market in the FGT segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the sodium bicarbonate market size.
Sodium Bicarbonate Market: Key Drivers and Trends
The detergents sector is also witnessing growth because of the rising consumption of detergents in countries such as China and India in APAC. Similarly, there is also a high demand for detergents in countries such as the UK, Germany, and Russia. With the growing global population, the demand for detergents will increase in the coming years. This will subsequently drive the need for sodium bicarbonate since it is used as an additive in detergents for the even distribution of the cleaning agent.
Moreover, sodium bicarbonate is used in the food and beverage industry for the preparation of various products, including pancakes, rolls, soft drinks, and baked foods. Because of its stabilizing and anti-caking properties, sodium bicarbonate is used in the manufacturing of food colorants and food color gels. With the growing preference for convenience food, the coming years will witness a rise in the demand for baked and fried foods. This will subsequently drive the need for sodium bicarbonate from the food and beverage industry. This growing demand from the food and beverage industry, coupled with the growth of the detergents sector, will accelerate sodium bicarbonate market growth at a CAGR of almost 2% during the forecast period.
Sodium Bicarbonate Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive sodium bicarbonate market growth during the next five years
- Precise estimation of the sodium bicarbonate market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the sodium bicarbonate industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of sodium bicarbonate market vendors
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