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Sodium Bicarbonate Market Trend, Business Opportunities, Challenges, Drivers and Restraint Research Report by 2024

Author : Ravi Chawat | Published Date : 2022-08-05 

Sodium Bicarbonate Market Trend, Business Opportunities, Challenges, Drivers and Restraint Research Report by 2024

Growing demand for sodium bicarbonate in the food & beverage industry as well as the animal feed sector over the recent years will drive the product market in the near future. Moreover, increasing manufacturing activities globally will further augment the positive growth of sodium bicarbonate market. Sodium bicarbonate is primarily used as a soft alkali buffer agent to control acidity in food, enhance product shelf-life and protect anti-caking. Additionally, sodium bicarbonate usage in pharmaceutical applications as an antacid to treat indigestion and heartburn along with swelling product demand from personal care industry as ingredient for skin and hair care products will surge the market demand during the projected timeframe. Furthermore, food grade product acts as a vital ingredient in the preparation of baking powder and food additives that are widely used in products that include ciders, confectioneries, cereals, dairy, etc. This will fuel the product demand in the market.

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Extension of government health programs and directives in various countries will augment the market growth. Government authorizations in several countries have approved the use of sodium bicarbonate in different applications. For instance, European Union has formulated E500(ii) code has registered the product as a food ingredient, that is primarily used as a levitation agent. Moreover, several governments have also validated functions and characteristics of the product for its better utilization. Likewise, in the United States, the regulatory authorities have also acknowledged sodium bicarbonate as a vital ingredient through U.S. FDA code 184.1736, authorizing the use of sodium bicarbonate in food enzymes, flavorings, and additives.

Sodium bicarbonate consumption in huge quantities for longer duration can cause allergic reactions, breathing problems and arthritis. These health hazards and its adverse effects on human health may restrain the growth of the product over the projected timespan.

Based on form, the product market is classified into liquid, powder/crystal, and slurry. The powder/ crystal form is the most widely used among all other forms and will capture a share of over 85% by 2024 and is likely to grow with a CAGR of around 4.5% annually between 2019 and 2024.

By end-use sector, the product market is categorized into animal feed, food & beverage, industrial, pharmaceuticals, personal care and agrochemicals. Animal feed industry will hold a fair share of more than 20% in the product market, growing with a considerable rate by 2024. This is all due to its wide usage as an antacid to treat indigestion, heartburn and other applications.

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Latin America sodium bicarbonate market will generate a revenue over USD 60 million by 2024 owing to rising industrialization, coupled with affordable raw material and production cost. Moreover, strict environmental regulations in the North American region is likely to affect changes in Latin American industrial ecosystem to curb emission levels, which will increase the use of sodium bicarbonate for the treatment process of flue gas.

About Author

Ravi Chawat . .

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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