USD 1.42 billion
Sodium Bicarbonate Market Size, Share, Growth Analysis, By Grade(Food, Pharmaceutical, Technical), By Form(Slurry, Crystal, Liquid), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15E2274 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|Tables:
63
|Figures:
77
Sodium Bicarbonate Market Insights
Global Sodium Bicarbonate Market size was valued at USD 1.42 billion in 2022 and is poised to grow from USD 1.49 billion in 2023 to USD 2.24 billion by 2031, at a CAGR of 5.2% during the forecast period (2024-2031).
Because of our busy, fast-paced lives, there will be a rising global demand for convenience foods, which will fuel the market expansion. According to a survey, Americans favour processed foods over freshly baked goods, which has resulted in a considerable drop in food product prices over the previous few years.
The consumers favour edible goods that may be prepared quickly or that don't require much baking or cooking. The convenience food industry will benefit from the aforementioned trends, which are also expected to increase demand for sodium bicarbonate in the coming years. Sodium bicarbonate is an ingredient used in the food industry to control acidity, safeguard against caking, and lengthen product shelf life. The market will be driven by rising sales of cakes, wafers, and crackers. The product is used in a wide variety of items, including confectioneries, ciders, dairy, and cereals.
The practice of treating insects in farmlands and washing pesticides off fruits and vegetables has led to a rise in the use of sodium bicarbonate in agrochemicals. Additionally, it is a natural insecticide that is utilised in agricultural farms because it is eco-friendly, which will increase demand for sodium bicarbonate in the years to come. Through § 184.1736, the Federal regulatory authorities have recognised sodium bicarbonate as an ingredient and authorised its use in additives, food enzymes, and flood flavourings. As a result of government assistance and expanding uses in the food industry, the sodium bicarbonate market will grow faster in the years to come.
US Sodium Bicarbonate Market is poised to grow at sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Food
Fastest Growth
Pharmaceutical
Growth Rate
5.2% CAGR
Global Sodium Bicarbonate Market ($ Bn)
Country Share for North America Region (%)
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Sodium Bicarbonate Market Segmental Analysis
Global Sodium Bicarbonate Market is segmented on the basis of form, grade and region. By grade, the market is segmented into food, pharmaceutical, technical. By form, the market is segmented into slurry, crystal, liquid. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Sodium Bicarbonate Market Analysis by Form
The slurry segment is the dominant segment of the sodium bicarbonate market. It accounted for the largest market share in 2022 and is expected to continue its dominance during the forecast period. This is due to the increasing demand for sodium bicarbonate in the food and beverage industry. The slurry form is easy to handle and transport, and it is also less expensive than the other forms of sodium bicarbonate.
The crystal/powdered crystal segment is expected to grow at the fastest rate during the forecast period. This is due to the increasing demand for sodium bicarbonate in the pharmaceutical and personal care industries. The crystal/powdered crystal form is purer than the slurry form, and it is also easier to dissolve.
Sodium Bicarbonate Market Analysis by Grade
With a 45.5% sodium bicarbonate market. It accounted for the largest market share in 2022 and is expected to continue its dominance during the forecast period. This is due to the increasing demand for sodium bicarbonate in the food and beverage industry. The food grade segment is required to meet the food safety standards set by the Food and Drug Administration (FDA).
The pharmaceutical grade segment is expected to grow at the fastest rate during the forecast period. This is due to the increasing demand for sodium bicarbonate in the pharmaceutical industry. The pharmaceutical grade segment is required to meet the strict quality standards set by the pharmaceutical industry.
Global Sodium Bicarbonate Market By Grade
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Sodium Bicarbonate Market Regional Insights
The North American market, which in turn accounts for 20% of the global market share. The dominance of North America in the sodium bicarbonate market can be attributed to the presence of major players in the region, such as Solvay, Church & Dwight, and Natural Soda. These players have a strong distribution network and a wide range of products, which helps them to cater to the needs of a large customer base.
Asia Pacific is the fastest growing region in the global sodium bicarbonate market. The growth of the market in Asia Pacific is attributed to the increasing demand for sodium bicarbonate in the food and beverage industry. The region is home to a large number of food and beverage companies, which are using sodium bicarbonate as a leavening agent in their products. The growth of the market in Asia Pacific is also attributed to the increasing demand for sodium bicarbonate in the pharmaceutical industry. The region is home to a large number of pharmaceutical companies, which are using sodium bicarbonate as an excipient in their products.
Global Sodium Bicarbonate Market By Region
- Largest
- Fastest
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Sodium Bicarbonate Market Dynamics
Sodium Bicarbonate Market Drivers
Agriculture and Animal Feed
- Sodium bicarbonate is used in agriculture as a pH regulator and soil amendment to enhance crop yields. It helps neutralize acidic soils and improves nutrient availability for plants. In animal feed, sodium bicarbonate is added to improve digestion, reduce acidosis in ruminants, and enhance feed efficiency.
Health and Personal Care Products
- Sodium bicarbonate has various health and personal care applications. It is used as a natural remedy for minor skin irritations, insect bites, and sunburn. Sodium bicarbonate is also used in bath salts, foot soaks, and skin exfoliants due to its cleansing and soothing properties.
Sodium Bicarbonate Market Restraints
Substitutes and Alternatives
- Sodium bicarbonate faces competition from substitute products and alternatives in various applications. For instance, alternative leavening agents may be used in food applications, and alternative pH regulators may be used in industrial processes. The availability of substitutes and alternatives can limit the growth potential of the sodium bicarbonate market.
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Sodium Bicarbonate Market Competitive Landscape
The competitive landscape for the sodium bicarbonate market gives information by competitor. Included information includes a business overview, financials, revenue generated, market potential, investments in R&D, new market initiatives, global presence, production capacities, company strengths and weaknesses, product launches, product breadth and depth, and application dominance.
Sodium Bicarbonate Market Top Player’s Company Profiles
- Novacap Group (France)
- Ciech S.A. (Poland)
- Tosoh Corporation (Japan)
- Natural Soda LLC (United States)
- FMC Corporation (United States)
- Natrium Products Inc. (United States)
- Tronox Limited (United States)
- Eti Soda (Turkey)
- Genesis Energy, L.P. (United States)
- Yuhua Chemical Group Co., Ltd. (China)
- Ciner Resources Corporation (United States)
- Sisecam Group (Turkey)
- Zhejiang Jiande Jianye Chemical Co., Ltd. (China)
- Qingdao Soda Ash Industrial Co., Ltd. (China)
- Tianjin Bohua Yongli Chemical Industry Co., Ltd. (China)
- Searles Valley Minerals (United States)
- Mid-Kansas Cooperative (United States)
- DCW Limited (India)
- Soda Sanayii A.S. (Turkey)
Sodium Bicarbonate Market Recent Developments
-
In December 2023, Solvay announced a partnership with ENOWA, NEOM's energy and water company, to develop the world's inaugural carbon-neutral soda ash production facility in NEOM, Saudi Arabia.
-
In December 2023, the European region is poised to see a significant rise in the prices of Sodium Bicarbonate, a vital ingredient in several industries, notably the baking sector. This surge in demand for Sodium Bicarbonate is linked to increased baking activities preceding the festive season, which continues into January for celebrations like New Year's and Epiphany.
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In June 2023, the United States exported approximately 541,000 tons of sodium carbonate, experiencing a decrease of -12.2% compared to the previous month. Despite this decline, exports have shown a relatively stable trend. The most significant growth occurred in May 2023, with a month-to-month increase of 37%, reaching a peak of 616,000 tons before declining in the following month. June 2023 witnessed a slight decrease in U.S. sodium carbonate exports, totaling $180 million.
Sodium Bicarbonate Key Market Trends
- Growing Application Scope in Diverse Industries : Sodium bicarbonate is finding new applications in various industries beyond its traditional uses. For example, in the energy sector, sodium bicarbonate is being utilized in carbon capture and storage (CCS) technologies to reduce greenhouse gas emissions. Additionally, sodium bicarbonate is finding applications in the cosmetics industry, including natural deodorants, exfoliating scrubs, and hair care products. The expanding application scope in different sectors is driving the demand for sodium bicarbonate.
Sodium Bicarbonate Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global sodium bicarbonate market has witnessed steady growth in recent years and is expected to continue its positive trajectory. Sodium bicarbonate, also known as baking soda or bicarbonate of soda, finds widespread applications in various industries such as food and beverages, pharmaceuticals, chemicals, and agriculture. The sodium bicarbonate industry is witnessing technological advancements aimed at improving production efficiency and product quality. Manufacturers are investing in advanced manufacturing processes, automation, and quality control systems to enhance their competitiveness. Technological advancements also enable the development of specialized sodium bicarbonate products tailored to specific applications.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1.42 billion |
| Market size value in 2031 | USD 2.24 billion |
| Growth Rate | 5.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Sodium Bicarbonate Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Sodium Bicarbonate Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Sodium Bicarbonate Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Sodium Bicarbonate Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Sodium Bicarbonate Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Sodium Bicarbonate Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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