The Sodium Benzoate by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Sodium Benzoate, 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 labelling, packaging innovations, substitution in personal care products.
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.
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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
Top Major Players:
Asia-Pacific was the largest region in the sodium benzoate market in 2023.
Product innovation is a key trend gaining popularity in the sodium benzoate market. Major companies operating in the sodium benzoate market are focused on innovative products to sustain their position. For instance, in January 2021, Emerald Kalama, a US-based chemicals company launched Kalama Sodium Benzoate Liquid. It is an effective preservative that incorporates the firm’s high-quality sodium benzoate NF/FCC into a unique solution in water form and it can improve the processing efficiency. This liquid can inhibit the bacteria, and yeast and can mould in the different products at ambient or elevated process temperatures.
The sodium benzoate market report table of contents includes:
1. Executive Summary
2. Sodium Benzoate Market Characteristics
3. Global Sodium Benzoate Market Trends And Strategies
4. Sodium Benzoate Market – Macro Economic Scenario
5. Global Sodium Benzoate Market Size and Growth
…….
26. Global Sodium Benzoate Market Competitive Benchmarking
27. Global Sodium Benzoate Market Competitive Dashboard
28. Key Mergers and Acquisitions Sodium Benzoate Market
29. Sodium Benzoate Market Future Outlook and Potential Analysis
30. Appendix
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