DUBLIN--(BUSINESS WIRE)--The "Sodium Bicarbonate - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Sodium Bicarbonate Market to Reach US$1.7 Billion by the Year 2026
The global market for Sodium Bicarbonate estimated at US$1.3 Billion in the year 2020, is projected to reach a revised size of US$1.7 Billion by 2026, growing at a CAGR of 5.2% over the analysis period.
Growth in the global market is set to be driven by rising demand from several end-use industries. The strong demand for sodium bicarbonate is attributed to its easy availability and low production cost. The food & beverages industry is expected to continue representing one of the most attractive domains for sodium bicarbonate in the coming years.
The increasing demand for sodium bicarbonate in the industry can be credited to rising consumption of packaged and processed foods as a result of changing lifestyle and food preferences. The compound is widely used in the animal feed and nutrition industry and to de-color textiles.
Some of the other prominent applications of sodium bicarbonate include leather, detergents, dyes and flue gas desulfurization. Sodium bicarbonate is also used in various personal care products as deodorizing agent.
Crystal/Powdered Crystal, one of the segments analyzed in the report, is projected to grow at a 5.5% CAGR to reach US$1.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Liquid segment is readjusted to a revised 4.3% CAGR for the next 7-year period.
This segment currently accounts for a 12% share of the global Sodium Bicarbonate market. The crystal form of sodium bicarbonate is used as electrolyte replenishers, topical cleaning solutions, systemic alkalizer and buffering agent. Growth in the powder segment is favored by enhanced user convenience and increasing demand for sodium hydrogen carbonate within baking powder applications.
The U.S. Market is Estimated at $317 Million in 2021, While China is Forecast to Reach $352.1 Million by 2026
The Sodium Bicarbonate market in the U.S. is estimated at US$317 Million in the year 2021. The country currently accounts for a 23.92% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$352.1 Million in the year 2026 trailing a CAGR of 6.3% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.9% and 5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR while Rest of European market (as defined in the study) will reach US$371.8 Million by the end of the analysis period.
Asia-Pacific enjoys a dominant position in the market, buoyed by increasing demand for the compound from diverse industries including food & beverages, animal nutrition, pharmaceuticals, personal care and agriculture. The Asia-Pacific market is gaining from high dependence on poultry farming along with expansion of the personal care and pharmaceutical industries.
The North American market is anticipated to benefit from rising uptake of sodium bicarbonate across the animal feed, pharmaceuticals, food, water treatment and pesticides industries. The regional market is also bolstered by increase in government funding to support R&D activity for finding novel application areas for the compound.
Slurry Segment to Reach $122.9 Million by 2026
Slurry form is used in pharmaceuticals and as an abrasive cleaning agent in industries. In the global Slurry segment, USA, Canada, Japan, China and Europe will drive the 3.6% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$73.2 Million in the year 2020 will reach a projected size of US$94.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$15.4 Million by the year 2026, while Latin America will expand at a 4% CAGR through the analysis period.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- A Prelude to Sodium Bicarbonate
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021
- Sodium Bicarbonate Market to Gradually Recover from COVID-19 Slowdown
- Global Market Prospects and Outlook
- Rising Demand Fast-Tracks Emphatic Journey of Global Sodium Bicarbonate Market
- Animal Feed, and Food and Beverage Dominates the Sodium Bicarbonate End-use Market
- Powder Form: Major Segment of Sodium Bicarbonate Market
- Asia-Pacific Maintains Triumphant Position in Sodium Bicarbonate Market
- Product Alternatives & Health Hazards Impede Growth
- Recent Market Activity
- World Brands
2. FOCUS ON SELECT PLAYERS (Total 64 Featured)
- AGC Inc.
- Bashkir Soda Company JSC
- Church & Dwight Co., Inc.
- CIECH S.A.
- Crystal Mark, Inc.
- Kazan Soda Elektrik Uretim A.S.
- Natural Soda LLC
- Opta Group LLC
- Sisecam Group
- Solvay S.A.
- Tata Chemicals Limited
- Vitro Chemicals
3. MARKET TRENDS & DRIVERS
- Animal Feed Additives: The Major Application Market for Sodium Bicarbonate
- Demand for Protein-Rich Diets Propels Demand for Sodium Bicarbonate
- Demand for Meat and Meat-based Products to Influence Growth in Sodium Bicarbonate Market
- Rising Consumption of Poultry Bodes Well for Market Growth
- Food & Beverage Industry: Vital Role of Sodium Bicarbonate in Enhancing Food Quality
- Growing Demand for Bakery Products to Drive Sodium Bicarbonate Market
- Growing Popularity of Convenience and Ready-to-Eat Foods Holds Promise for Sodium Bicarbonate Market
- Increasing Demand for Sodium Bicarbonate in Pharmaceutical Industry Drives Market Expansion
- Rising Usage of Detergents Propels Sodium Bicarbonate Demand
- Increasing Global Population Drives the Demand for Protein Alternatives
- Fashion Plays a Key Role in Propelling Demand for Textile Dyes
- Growth of the Personal Care and Cosmetics Market to Drive Demand for Sodium Bicarbonate
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
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