Overview and Scope
Sodium benzoate is an odorless, crystalline powder formed by the combination of benzoic acid with sodium hydroxide.
Sizing and Forecast
The sodium benzoate market size has grown strongly in recent years. It will grow from $0.61 billion in 2023 to $0.64 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to stability and shelf-life demands, expansion of beverage sector, globalization of food industry, changing consumer lifestyles, regulatory approvals..
The sodium benzoate market size is expected to see strong growth in the next few years. It will grow to $0.8 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to growth in organic preservatives, demand in developing regions, clean label trends, regulatory changes, expansion of beverages.. Major trends in the forecast period include consumer education on food safety, allergen-free products, increased transparency in labeling, packaging innovations, substitution in personal care products..
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Segmentation & Regional Insights
The sodium benzoate market covered in this report is segmented –
1) By Type: Industrial Grade, Food Grade, Pharmaceutical Grade
2) By Form: Powder, Granules, Flakes, Other Forms
3) By Distribution Channel: Online Retailer, Offline Retailer
4) By Application: Antifungal Agent, Antimicrobial Agent, Rust And Corrosion Inhibitor, Preservative, Other Applications
Asia-Pacific was the largest region in the sodium benzoate market in 2023. The regions covered in the sodium benzoate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand from the cosmetics industry is expected to propel the growth of the sodium benzoate market going forward. Cosmetics refer to a category of health and beauty goods used to improve the appearance of a person’s body. Sodium benzoate is utilized as a preservative in both cosmetics and food goods, as it inhibits both bacterial and fungal growth. For instance, according to the Loreal, a France-based cosmetic manufacturing company, the global cosmetics sector reached $228 billion in 2021. Therefore, the increasing demand from the cosmetics industry is driving the growth of the sodium benzoate market.
Key Industry Players
Major companies operating in the sodium benzoate market report are Foodchem International Corporation, A.M. Food Chemical Co.Limited, Brown Chemical Co.Inc., Wuhan Youji Industry Company Limited, Jarchem Industries Inc., FBC Industries Inc., Archer Daniels Midland Company, Akzo Nobel N.V., Spectrum Chemicals, DuPont de Nemours Company, Tengzhou Tenglong Chemical Co. Ltd., Cellmark USA LLC, Ganesh Benzoplast Limited, Vizag Chemicals, Krishna Chemicals, Eastman Chemical Company, MERCK KGaA, LANXESS, Akema S.r.l., Zancheng Life Sciences Ltd., Reagents, Charkit Chemical Corp, Tulstar Products Inc., Shandong Tong Tai Wei Run, Vertellus, Tokyo Chemical Industry Co. Ltd., Macco Organiques Inc., W. Ulrich GmbH , COFERMIN CHEMICALS GMBH & CO. KG , Wuhan Biet Co. Ltd., Atul Limited .
The sodium benzoate market report table of contents includes:
1. Executive Summary
2. Sodium Benzoate Market Characteristics
3. Sodium Benzoate Market Trends And Strategies
4. Sodium Benzoate Market – Macro Economic Scenario
5. Global Sodium Benzoate Market Size and Growth
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31. Global Sodium Benzoate Market Competitive Benchmarking
32. Global Sodium Benzoate Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Sodium Benzoate Market
34. Sodium Benzoate Market Future Outlook and Potential Analysis
35. Appendix
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