Increasing demand for Sodium Benzoate Powder in online retails especially in the emerging nations coupled with high investment in RD of Sodium Benzoate Powder, is fueling the market growth.
The Global Sodium Benzoate Powder Market is forecast to reach USD 597.6 Million by 2027, according to a new report by Reports and Data. Sodium Benzoate Powder is an odorless partly hygroscopic crystalline common potassium salt of benzoic acid with alkalinizing property, which is manufactured by complete neutralization of benzoic acid with a high purity sodium carbonate or sodium bicarbonate or sodium hydroxide and subsequent crystallization. Sodium Benzoate Powder is approved by the European Union (EU) and European Free Trade Association (EFTA) as a safe food additive with a distinctive E-Number of E211. The global market is growing at a substantial pace due to the growing demand for Sodium Benzoate Powders in food preserving applications and ornithine cycle disorder treatment. Continuous expansion of the food beverage industries has directly influenced the growth of Sodium Benzoate Powder as this chemical is utilized in the food-grade applications for preservation, flavor adjustment enhancement, and buffering, among others.
The Asia Pacific region is expected to retain its dominance in the global market. The market is North America is growing at a significant pace due to the extensive use of Sodium Benzoate Powder in food preservatives and the healthcare applications. China and India are some of the fastest-growing markets in the world, while the Netherlands and the United States hold some of the most prominent players in the market.
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Top Lading Players: Foodchem International Corporation, Wuhan Youji Industries Co., Ltd., DuPont de Nemours, Inc., Huangshi Xinghua Biochemical Co., Ltd., Akzo Nobel N.V., Eastman Chemical Company, Emerald Performance Materials, AM Food Chemical Co. Ltd., American Tartaric Products, and FBC Industries Inc., among others.
Some Key Highlights from the Report:
- Growing penetration of the online retailing businesses for the chemicals and materials, especially in the emerging nations in the Asia Pacific, is helping the market grow by broadening the outreach in the areas where the offline vendors are unavailable. Also, due to the non-involvement of distributors in the supply chain model, the profit margin is way more than that of the offline retailing. The online retailing is expected to gain a market share of 33.9% by 2027.
- Sodium Benzoate Powder acidulants are used in food beverage applications as additives that provide a sharp taste in food items with assisting in the setting of gels to act as preservatives also. Also, Sodium Benzoate Powder sequestering agents are used in foods beverages so that they can stabilize the inner molecule and prevent deterioration in food color aroma.
- European region is forecasted to witness significant growth in the overall market, with 15.6% of market possession by 2027, having grown with a CAGR of 1.9% during the forecast period. The Netherlands holds some of the most prominent players in this region.
- North America, with its high demand for Sodium Benzoate Powder food preservative antifoulants, is accounted to retain a significant position in the global market by 2027, and the CAGR is calculated to be 4.6% during the forecast period.
Segments covered in the report:
Distribution Channel Outlook (Revenue, USD Million; 2016-2027)
- Online Retailing
- Offline Retailing
Application Outlook (Revenue, USD Million; 2016-2027)
- Food Preservative Acidulant
- Buffering Agent
- Other Applications
End-Use Verticals Outlook (Revenue, USD Million; 2016-2027)
- Food Beverage Industry
- Medical Pharmaceutical
- Personal Care Products
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- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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