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New Research Study: Sodium Bicarbonate Market Scenario | Size, Share, Report | Forecasts (2019-2024)

Author : Ronak Bora | Published Date : 2019-05-16 

The size of Sodium Bicarbonate Market was anticipated as 6 billion in the year 2019 and is predicted to touch 9 billion till 2024, rising with a CAGR of 4.9% between the years 2019 to 2024 as per the research done by Global Market Insights, Inc.

Global demand for sodium bicarbonate will be driven by increasing demand from food & beverage industry. Rising population worldwide is growing the demand for sodium bicarbonate coupled with shift in consumer eating habits, favoring the sodium bicarbonate market. Consumption of dairy, meat, fish etc. have predominantly resulted into higher body PH value, to treat alkaline level of human body sodium bicarbonate is used. Further its application in bakery product will positively impact sodium bicarbonate market growth over coming years.

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The sodium bicarbonate market is witnessing high demand from agrochemical industry. Growing usage of sodium bicarbonate product in pesticides and insecticides is accelerating market growth over forecast period. Further, increasing percentage of cultivation land will augment the usage of sodium bicarbonate in agrochemical product.

Shift in consumer preferences toward grooming products is enhancing the sodium bicarbonate market growth in personal care industry. Excellent features of sodium bicarbonate for instance neutralizing and soothing, make it suitable application in personal care industry. In addition, its antimicrobial and absorbent characteristic acts as mouth cleanser and perform like an absorbent in perfume & deodorants products. Hence sodium bicarbonate application in personal care product will substantially grow the market size in projected timeframe.

Endowed with an exceptionally prodigious characteristic set, sodium bicarbonate, a.k.a. baking soda is typically used across a plethora of domains. Being environmentally viable, this natural agent finds widespread applications in agrochemicals and food verticals, such as alcoholic beverages, confectionaries, dairy, etc., accelerating the scope of sodium bicarbonate market.

The usage of baking soda for myriad functionalities in agriculture, though acknowledged since long, however, has been commercialized only in recent years. One of the most pivotal reasons why the agricultural domain has essentially constituted the end-use segment of sodium bicarbonate industry is the globally rising population. With the number of denizens across the globe increasing at a breakneck pace, the demand for food has observed a remarkable ascent, leading to increasing crop cultivation.

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Asia Pacific sodium bicarbonate market is substantially growing with a CAGR of 5.7%, the region is majorly dominated by China and India. Rapid urbanization and industrialization in these countries is rising the demand for sodium bicarbonate products in end-user industries. Followed by Asia Pacific market, LATAM is increasing predominantly owing to massive demand from food and beverage industry.

The sodium bicarbonate market has several market players with numerous local & global manufacturers, supplier and distributors functioning across the globe. Some of these key market players follow both backward integration such as TATA chemical and Solvay. Prominent industry players include Blastrite, FMC Corporation, Solvay Specialty, Natural Soda, Tosoh Corporation, Crystal Mark, Tata Chemicals, Opta Minerals and Vitro S.A.B.

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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