According to a research survey conducted by ChemView Consulting, in 2022, the Global Sodium Bicarbonate Market was worth US$ 1,872.0 Mn and is expected to grow at a CAGR of 4.0% over the forecast period. While the historical CAGR is 3.6%, the market is expected to hit US$ 2,771.0 Mn by 2032 end.
Increasing application of food and technical grades of sodium bicarbonate is expected to further bolster developments. Characteristics of high basicity and non-toxic nature, creates unique advantages for applications in leavening, cleansing, and ruminal pH buffers.
The material is commonly used as a leavening agent in the baking process for cakes, biscuits, and bread in the form of baking powder. It is also used as a cleansing agent due to its mild disinfectant properties. Also, niche applications in animal feed, the production of fire extinguishers, and more contribute to revenues.
It also has extensive use in the pharmaceutical industry, as an antacid to treat indigestion and heartburn, in the treatment of hyperkalaemia, and also as a haemodialysis solution for treating chronic kidney diseases.
Key players in the market are focusing on increasing productivity, via digital technology and integrated processes. Many prominent players are seeking strategic expansions and are also focusing on delivering high-quality end-use products to sustain their market share in the long run.
Due to the Covid-19 pandemic, a notable impact was witnessed on the supply chain for sodium bicarbonate, disrupting raw material transport due to the strict lockdowns prevalent in many parts of the world. This in turn drove key players to find new ways to implement innovative value chain initiatives to achieve uninterrupted production. The growth of the Sodium Bicarbonate market is also anticipated to be affected by this pandemic crisis and is also expected to see a considerable drop in the fiscal prospects of 2020-2021.
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A list of some of the key suppliers present in the market are:
- Solvay SA
- Merck KGaA
- Nirma ltd.
- Tata Chemicals Ltd.
- GHCL Ltd.
- Ciech SA
- DCW Ltd.
- Seqens group
- Tosoh Corporation
- Hawkins, Inc.
- Church & Dwight Co., Inc.
Global Sodium Bicarbonate Market 2022-2032: Report Coverage and Highlights
- Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
- Key drivers, restraints, opportunities, and key emerging trends impacting market growth
- Predictions on critical supply, demand, and technological trends and changes in consumer behavior
- Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
- Segment-wise, country-wise, and region-wise market analysis
- Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
- Key product innovations and regulatory framework
- Covid-19 impact on the market and how to navigate
- Strategic market analysis and recommendations on crucial winning strategies
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About ChemView Consulting:
ChemView Consulting is a leading market research firm in the Asia Pacific, with expertise in Chemicals & Materials, Food & Beverages, Packaging, Oil & Gas, New & Renewable Energy, and Disruptive Technologies. We are one of the top market intelligence firms specializing in business analytics with an expertise in the ever-growing chemicals industry. We track high-growth markets with innovative ideas and opportunities insights through B2B research.
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