Rising Growth Trajectory of Sodium Bicarbonate Market

Rising Growth Trajectory of Sodium Bicarbonate Market

By Knowledge Sourcing Intelligence Blog

Sodium bicarbonate is a white, crystalline powder that occasionally lumps together. It has no odor and a harsh, salty flavor. It is solid at room temperature. Solubility, or a substance's capacity to dissolve in water, is another physical characteristic. The chemical compound sodium bicarbonate, sometimes known as baking soda or bicarbonate of soda, has the formula NaHCO3. A sodium cation and a bicarbonate anion make up this salt.

Sodium Bicarbonate Market

Increased Utilization in Multiple End-Use Industries to Drive the Market Growth

The rise in the worldwide market is due to the increased use of sodium bicarbonate in various end-use sectors such as food, animal feed, pharmaceuticals, chemicals, and water treatment. Increased use of culinary and technical grades of sodium bicarbonate is projected to boost the market growth of sodium bicarbonate market even further. The high basicity and non-toxic character of this compound make it ideal for use in leavening, cleaning, and ruminal pH buffers. In the form of baking powder, the substance is frequently used as a leavening agent in the baking process for cakes, biscuits, and bread. Because of its moderate antiseptic qualities, it is also utilized as a cleaning agent. Revenues are further boosted by specialist uses in animal feed, fire extinguisher manufacturing, and other areas. It's also widely used in the pharmaceutical sector as an antacid for indigestion and heartburn, as a hyperkalemia therapy, and as a hemodialysis solution for chronic kidney disease patients.

Growing Adoption for Animal Feed Purpose to Incline the Market Size

The growing usage of sodium bicarbonate in animal nutrition, as well as an increase in demand in the food industry, are pushing the market. In the animal feed business, sodium bicarbonate is utilized as an acidity regulator. According to the USDA's 2020 study, Livestock and Poultry: World Markets and Trade, the global chicken output will continue to rise in 2020. In comparison to rising exporters, traditional pioneer suppliers Brazil and the United States are expected to weather trade interruptions caused by the new coronavirus pandemic catastrophe. The overall output of chicken meat increased from 91,148 metric tonnes in 2016 to 100,026 metric tonnes in 2020. Total domestic chicken meat consumption, on the other hand, was 89,614 thousand Metric Tons in 2016 and rose to 97,908 thousand Metric Tons in July 2020.

Varied Use In the Food and Beverage Sector to Propel the Market Growth

In the food and beverage sector, sodium bicarbonate is a common multifunctional component. It's used as a leavening ingredient in bakery products like wafers, crackers, and cakes, and it adds volume. Consumer tastes are evolving as a result of rising living standards, putting pressure on the food sector to focus on and produce novel bread goods. As a result, expansion in the food and beverage industry is expected to drive sodium bicarbonate market growth throughout the predicted period. Furthermore, as sodium bicarbonate is used to regulate and maintain the pH of a solution, the rising use of ready-to-eat food is driving up demand for it.

Operators of smaller-scale waste-to-energy (WTE) plants frequently utilize sodium bicarbonate as an adsorbent in commercial flue gas treatment (FGT) applications. Sodium bicarbonate is used to purify, process, and manufacture polymers and chemicals. Sodium bicarbonate also possesses mild abrasive, grease-cutting, cleaning, and odor-neutralizing capabilities. It is projected to enhance market demand for the chemical compound in the foreseeable term due to its alkaline composition and favorable reactivity features.

During the forecast period, however, rigorous restrictions and certifications necessary for the manufacture and distribution of pharmaceutical-grade sodium bicarbonate are projected to stifle development potential.

In December 2020, Church & Dwight Co., Inc., a major participant in the sodium bicarbonate industry, has paid $530 million for Matrixx Initiatives, Inc., the company behind the ZICAM brand. The transaction was structured as a stock purchase that was funded using a mix of cash and debt by the Company. In the VMS (vitamins, minerals, and supplements) cough/cold shortening category, Zicam is the most popular zinc supplement in the United States. Zinc is the main active component of Zicam, which helps to reduce the duration of a cold.

Tata Chemicals Europe in March 2021 announced plans to establish a new factory in Winnington to manufacture a product for the pharmaceutical sector. The firm will begin the planning process for the next expansion, which will create Ecokarb®, a high purity net-zero carbon emissions product, soon.

In 2019, Asia Pacific held the highest market share, and it is anticipated to continue to expand throughout the forecasted period. Positive demand is mostly expected from China and India, owing to a rapidly increasing population that consumes sodium bicarbonate on a huge scale. Furthermore, throughout the predicted period, rising demand for innovative pharma goods, detergents & soaps, cosmetics & personal care products, and chemical raw materials is boosting sodium bicarbonate market expansion in this area. Meanwhile, liquid detergents are in high demand in Europe, particularly in Russia, Germany, and the United Kingdom.

Impact of COVID-19 Pandemic

The sodium bicarbonate industry is being impacted by the COVID-19 epidemic. The product's demand is experiencing significant shocks across multiple end-use sectors, global supply chains are disrupted, and the competitive order of manufacturers/producers has shifted. Due to a lack of demand, the global chemical industry has quickly become oversupplied. Movement limitations appear to have a direct and immediate impact, and it is believed that things will return to normal once the obligatory social separation stops.