Sodium Bicarbonate Market Industry is projected to grow from USD 8.5 billion in 2022 to USD 13.01 billion by 2032, exhibiting a (CAGR) of 4.85% | MRFR

Insights from Future Market Research

The global Sodium Bicarbonate Market is set to grow steadily at a moderate CAGR during the forecast period (2018-2022), reports Market Research Future (MRFR). The consumption of meat, sugar, and dairy products makes the body acidic which the body tries to nullify by holding the alkaline salts. However, the presence of tissue acidity leads to health problems like arthritis, digestive disorders, and heartburn. This issue can be taken care of by consuming sodium bicarbonate or baking soda with water as it helps reduce acidity being alkaline in nature. MRFR report identifies that the benefits of baking soda or sodium bicarbonate is expected to be one of the main growth drivers for the global sodium bicarbonate market in the coming years. Moreover, the demand for sodium bicarbonate is bound to rise on account of its usage in the treatment of ventricular dysrhythmias, which is caused due to excessive use of cocaine.

Although the market’s prospects seem bright, fluctuating price of sodium bicarbonate globally can potentially undermine the market growth in the coming years. However, major market trends are gaining traction which positively shapes the sodium bicarbonate market dynamics, such as increasing use of baking soda as a deodorizing agent. As baking soda neutralizes acidity, it is an ideal element used to absorb odor and act like a deodorant. Furthermore, baking soda or sodium bicarbonate is free of chemical additives unlike many other products, a fact that makes the product highly appealing to large number of consumers, leading to massive demand globally.

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Regional Analysis:

Based on the region, the global sodium bicarbonate market is segmented into Europe, North America, Asia-Pacific, Middle East & Africa, and Latin America.

As per the analysis, the global market is projected to be dominated by North America during the forecast period. The region is anticipated to acquire the largest market share in the global sodium bicarbonate market. The market growth of the region can be attributed to the high demand of the compound in the food industry, water treatment, and pharmaceuticals. Furthermore, the increasing production of soda ash in the U.S is projected to drive the regional market.

The APAC region is predicted to grow at a significant rate during the forecast period owing to the increasing demand of sodium bicarbonate from China and India. Furthermore, the region has surfaced to be a major investment destination for prominent market players, which can augment the regional market growth. The APAC market is estimated to expand at a CAGR of 3.96% during the review period. Expansion of industries such as animal feed and F&B is anticipated to be another significant factor driving the regional market. Besides, the rising demand from the pharmaceutical industry is predicted to play a crucial role in boosting the regional market in the coming period.

Europe market is anticipated to progress at a significant rate during the review period owing to the expansion of the pharmaceutical sector. Furthermore, the robust presence of the personal care sector is predicted to strengthen the regional market. The UK, Germany, and a few other countries are expected to play a notable role in developing the regional market.

Market Segmentation:

MRFR report states that the global sodium bicarbonate market is segmented based on application, end users and region.

By application, the global sodium bicarbonate market is segmented based on medical, soap & detergents, baking powder, animal feed, chemical raw material, agrochemical, fire-extinguishing agent, and others. There is a high demand for sodium bicarbonate in the medical field, majorly used as antacids. It is used to treat the symptoms of stomach or duodenal ulcers. Moreover, it is also used to relieve heartburn and acid indigestion by neutralizing excess stomach acid.

By end users, the market is segmented based on pharmaceutical, personal care, textile industry, food & beverages, chemical industry, agriculture and others. Sodium bicarbonate in food and beverage industry is extensively used in baking goods, legumes and beans, food coloring, effervescent soda, and vegetable and fruit scrub. Hence, the plethora of applications of sodium bicarbonate in the food and beverage industry propels its demand and leads to the segment growth.

The MEA region is predicted to acquire the least market share during the forecast period. The region is likely to lag due to a lack of awareness and under-developed nations. However, the presence of untapped opportunities can augment the regional market in the coming period.

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Key Players:

FMC Corporation. (US), Blue Bird Foods India Pvt. Ltd. (India), Tata Chemicals Ltd. (India), Solvay S.A. Chemicals Company (Europe), Tosoh Corporation (Japan), and Asahi glass Co. Ltd (Japan) are some of the key players in the global sodium bicarbonate market.

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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis about diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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