Ammonium Carbonate Market Size, Share, Growth Analysis, By Type(Food & Pharma Grade, and Technical Grade), By Application(Pharmaceuticals, Food and Beverages, Industrial, and Others), By Region - Industry Forecast 2024-2031

Global Ammonium Carbonate Market size was valued at USD 588 Million in 2022 and is poised to grow from USD 618.58 Million in 2023 to USD 927.94 Million by 2031, growing at a CAGR of 5.2% in the forecast period (2024-2031).

Growing demand for processed foods is driving the market growth. Ammonium carbonate has many applications in the food and beverage industry, from baked goods to confectionery. Thus, the demand for ammonium carbonate is expected to increase soon owing to the increasing demand for natural & organic feed additives. Also, ammonium carbonate acts as an alternative to baking powder. Therefore, this is recognized in terms of the materials that can be used in bread baking. However, stringent government regulations on the manufacture and use of these food supplements have hampered the market growth.

Increasing research and development activities are a major factor affecting the growth of the global ammonium carbonate market. Cost-effective ammonia production methods are expected to reduce ammonium carbonate production costs. U.S. The Department of Energy (DOE), under its Advanced Research Projects Agency-Energy (ARPA-E) projects, funds ammonia production from renewable energy sources such as water, renewable electricity, wind, etc. Heber-Bosch process improvements in ammonia production, catalyst-adsorbent selection, new electrochemist-processes are also used. Such advanced technology will reduce the cost of ammonia production, thus increasing the demand for ammonium carbonate to the sky. The use of ammonium salts as hydrogen storage fuel cells is also expected to boost the global ammonium carbonate market.