Knowledge Sourcing Intelligence announces the publication of a new report on the Global Sodium Bicarbonate Market from 2019 to 2026 to their offering.
As per the report, the Sodium Bicarbonate Market is expected to reach US$2.053 billion by 2026, from US$1.464 billion in 2019.
Sodium bicarbonate is widely known as baking soda or sodium hydrogen carbonate. The chemical compound is having formula NaHCO 3. and is available in white crystalline powder or granules and is odourless and has a cooling and slightly salty taste. It is moderately soluble in the water and is being used in several industries such as personal care, animal feed and in food and beverage industries. The product is a strong alkali which is widely utilized in many detergents and cleaning products. The growing bakery and rise in the consumption of detergent is expected to augment the market during the forecasted period. Rapid increase in the demand of the OTC drugs is also expected to boost the market growth of the sodium bicarbonate. Sodium bicarbonate by grade is segmented as food grade, pharma grade, feed grade and technical grade. Feed grade segment holds the larger share of the market and is expected to grow during the forecasted period majorly due to the increasing animal feed production which is leading to higher requirement of the sodium bicarbonate. Meanwhile the food grade segment is expected to surge at a higher CAGR rate during the forecasted period on account of higher demand of the baking soda in the bakery and confectionary items.
The rising popularity of the sodium bicarbonate due to its ability to reduce the acidic conditions, lesser production costs, its stabilized pH value, and low environmental impact are the key factors that are driving the demand of the sodium bicarbonate market. Sodium bicarbonate market by form is segmented as Slurry, Crystal/Powdered Crystal and Liquid. Crystal/Powdered Crystal is expected to hold a major share of the sodium bicarbonate market during the forecasted period due to its utilization as a buffering agent, electrolyte replenisher, topical cleansing solution, and systematic alkalizer. While Slurry form of the sodium bicarbonate market is expected to witness the significant growth during the forecasted period on account of rise in the application in the pharmaceutical and industrial in the abrasives cleaning part.
Sodium bicarbonate properties include grease-cutting, mild abrasive, and odour neutralizing that is leading to high demand in the market and is creating profitable opportunities for the market players during the forecasted period. The sodium bicarbonate has high applications in several industries such as Food, Personal Care/Cosmetics, Pharmaceuticals, Flue Gas Treatment, Animal Feed, Cleaning Agent/Detergent, Chemical and Others. The rapidly growing food industry and booming textile business are playing a crucial role in the growth of the sodium bicarbonate market during the forecasted period on account of sodium bicarbonate being primarily used in the bakery and textile process. Furthermore, the high application in the animal feed as an acidity regulator.
Government policies and regulations regarding the Sodium Bicarbonate market is augmenting the market and is providing opportunities to the market players to expand their market share. The European Union has registered sodium bicarbonate as a food ingredient, which is used as the raising agent. It is devised under E500(ii) where E numbers are the codes for the substance that are permitted to be used as a food additive, for use in the European Union or European Free Trade Association. In addition, the government has also demonstrated its characteristics and functions for proper utilization of the product
Sodium Bicarbonate market on the basis of region is segmented as North America, South America, Europe, Middle East & Africa, and Asia Pacific. Asia Pacific is dominating the market due to the growing population are widely utilizing the products such as glass, plastics, and cement which have sodium bicarbonate as their key ingredient. The rising demand for products with sodium bicarbonate as the key ingredient such as detergents, soaps, pharma products, chemical raw material, and cosmetics & personal care is also being witnessed in the region. The rising demand for detergents and cleaning agents is also being witnessed in Europe, Brazil, USA, Mexico, and Canada.
The challenges that the sodium bicarbonate market face includes the rising competition from the availability of the substitutes, environmental and health hazard challenges, and the health issues from the long interval consumption of the medicines containing sodium bicarbonate.
As a part of the report, the major players operating in the athleisure market, which have been covered are Solvay, Tata Chemicals Ltd, Pfizer Inc, Genesis Energy, LP, Tosoh Corporation, Natrium Products Inc, Tokuyama Corporation, Trade House Bashkhim, Joint-stock company “Bashkir soda company”, Natural Soda, LLC, AG CHEMI GROUP s.r.o., GHCL Limited, CIECH S.A. and Church & Dwight Co., Inc.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-sodium-bicarbonate-market
This report segmented the sodium bicarbonate market on the basis following terms