Sodium Benzoate Market – Global Industry Analysis and Forecast (2023-2029)

Global Sodium Benzoate Market size is expected to reach nearly US$ 672.21 Mn by 2029 with the CAGR of 4% during the forecast period.

The global Sodium Benzoate market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Sodium Benzoate report also provides trends by market segments, technology, and investment with a competitive landscape.
Sodium Benzoate Market Overview:
The global sodium benzoate market has an annual compound growth rate is (CAGR) of 4% during the forecast period, the market size of global sodium benzoate market is USD 510.82 Million in 2022 and it is expected to reach USD 672.21 Million by 2029.

Sodium benzoate is also called benzoic acid or baking soda the scientific formula of sodium benzoate is C6H5COONa. Sodium benzoate is odorless and is formed in crystalline nature. It is a water-soluble compound and mainly used for preservative purposes. Sodium benzoate is mainly used in food and beverage applications like cold drinks, beer, fruits juice, jam, jelly, pickles, etc. It is used as a preservative in cosmetics and medicine.To know about the Research Methodology :- Request Free Sample Report
Sodium Benzoate Market Dynamics:
Drivers
Economic growth in APAC boosting demand 

APAC is the largest and fastest-growing market for products. In APAC improving the economic growth and also rising disposable growth of the consumer. Due to rapidly increasing the industrialization and development in India, China, Japan the market for is increases.

Use in the food industry as a synthetic preservative

is also known as baking soda so it is mainly used for preservative purposes. Due to the low cost and high properties the demand for sodium benzoate increases. The food industry is growing now due to the global population this is the major driver for the market.
Restraints
 is extremely lethal for the body

In sodium benzoate some chemical solvents are available and they cause cancer by affecting the oxygen cell. Increasing use of many chemicals in food and cosmetics the government do the strict rule on it and this is the major factor of restraints in market.
Opportunities
Rising health concerns regarding consumption of sodium benzoate

Sodium benzoate is used in various medicines so it helps for post-Dural puncture headache and hyper ammonia diseases. Hence there is a huge opportunity for growing the market.
Trends
Increasing consumer awareness regarding food safety

The consumer is having several health issues regarding the food preservative or may they want fresh and organic food that contains no chemicals. Changing the mind-set of the consumers may get an impact on the growth of the market.
Sodium Benzoate Market Segment Analysis:
The Market is segmented in main 2 types and they are by Application and the distribution channel.

On the basis of application segment the market is sub segmented in 4 different types and they are Food & Beverage, Pharmaceuticals, cosmetics and other.

The food and beverage market had the largest share of 4% in 2022. The main purpose of sodium benzoate is to preserve the products like jam, jelly, pickle, etc. it also helps maintain fresh food. Sodium benzoate is commonly used in the food and beverage industry to increases the flavor and control the PH. Due to transportation issue caused by COVID-19, it increases the demand of preservative food because many consumers buy the products which can stay safe in there frozen. The large use of sodium benzoate is in the food and beverage industry. 84% of sodium benzoate is used in food and beverage. So that in the food and beverage industry the demand for sodium benzoate market is increasing rapidly.

This graph shows that the high demand for sodium benzoate is in the food and beverage industry. Sodium benzoate is also used in pharmaceutical products for its antibiotic properties such as the formulation of tablets and capsules. It is also used for the treatment of fungal infections. Sodium benzoate is used in pharmaceutical industries on daily basis.

Based on Distribution Channel the market is segmented into 2 types they are online retailer and offline retailer.

The online retailer segment held the largest share 4% the of the global market in 2022, owing to increase internet penetration, changing life style, increased use of smart phones, The online retailer are the one of the best platform for all the consumers now everyone is busy in their own life so they don’t have enough time to go shop and buy the product. So instead of that, the consumer can order products online. Online retailer are the more dominant the segment in the market so many consumers are ordering their product by online mode.
Sodium Benzoate Market Regional Insights:
APAC is the largest and fastest-growing market for products. In APAC improving the economic growth and also rising disposable growth of the consumer. China has also occupied a major share of and they are of xx% in the year 2022. The market in China is anticipated to grow the business. In the developed countries such as Germany, US systematic preservatives are banned due to this factor its effect on human health.

The Middle East and Africa has also good growth in the market during the forecasting period of 2022 to 2029. The Middle East and Africa have xx% of share in the year 2022 that’s why the demand is increased rapidly. Both the 2 countries are in the developing stage and there are large investors who are also available for improving their presence and increase the market share.

The objective of the report is to present a comprehensive analysis of the  market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the market dynamics, structure by analyzing the market segments and project the market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the market make the report investor’s guide.
Sodium Benzoate Market Scope: Inquire before buying



Sodium Benzoate Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 510.82 Mn.


Forecast Period 2023 to 2029 CAGR:
4%
Market Size in 2029:
US $ 672.21 Mn.


 Segments Covered:
by Application
Food & Beverage
Pharmaceuticals
Cosmetics
Other


by Distribution Channel
Online Retailer
Offline Retailer


by Form
Powder
Granule
Others



Sodium Benzoate  Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina and Rest of South America)
Market Key Players are:
1. Archer Daniels Midland Company
2. Foodchem International Corporation
3. A.M. Food Chemical Co. Limited
4. Wuhan Youji Industries Co., Ltd.
5. DuPont de Nemours Company
6. Eastman Chemical Company, E.I.
7. Brown Chemical Co. Ltd
8. Charkit Chemical Corp
9. Jarchem Industries,
10.Spectrum Chemicals
11.Cellmark USA, LLC
12.Akzo Nobel NV
13.Tulstar Products Inc.
14.Tengzhou Tenglong Chemical Co., Ltd.
15.FBC Industries, Inc.
16.Shandong Tong Tai Wei Run Chemical Co., Ltd.

Frequently Asked Questions:

1. Which region has the largest share in Global Sodium Benzoate Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Sodium Benzoate Market?
Ans: The Global Sodium Benzoate Market is growing at a CAGR of 4% during forecasting period 2023-2029.

3. What is scope of the Global Sodium Benzoate market report?
Ans: Global Sodium Benzoate Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Sodium Benzoate market?
Ans: The important key players in the Global Sodium Benzoate Market are – Archer Daniels Midland Company, Foodchem International Corporation, A.M. Food Chemical Co. Limited, Wuhan Youji Industries Co., Ltd., DuPont de Nemours Company, Eastman Chemical Company, E.I., Brown Chemical Co. Ltd, Charkit Chemical Corp, Jarchem Industries,, Spectrum Chemicals, Cellmark USA, LLC, Akzo Nobel NV, Tulstar Products Inc., Tengzhou Tenglong Chemical Co., Ltd., FBC Industries, Inc., Shandong Tong Tai Wei Run Chemical Co., and Ltd.

5. What is the study period of this market?
Ans: The Global Sodium Benzoate Market is studied from 2022 to 2029.