Sodium Bicarbonate Market Size Worth US$ 2.13Bn by 2028 at 4.3% CAGR with Deep Dive Analysis of 18+ Countries across 5 Key Regions, 50+ Companies Scrutinized by The Insight Partners

NEW YORK, July 6, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Sodium Bicarbonate Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Grade, Form, End User, and Geography", the market is expected to grow from US$ 1596.37 million in 2021 to US$ 2133.33 million by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028. The projected market growth during the forecast period is attributed to the rising consumption of baked food and high demand in the animal feed industry. Sodium bicarbonate is manufactured using raw materials such as carbon dioxide (CO2), aqueous sodium hydroxide (NaOH) solution, and water. The Solvay process is commonly used for the production of sodium bicarbonate. Sodium bicarbonate is least likely to occur in the form of minerals that can be mined and processed. It is found in a natural mineral form i.e. nahcolite deposits.

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Sodium Bicarbonate Market - Strategic Insights

Sodium Bicarbonate Market: Competition Landscape

Solvay S.A.; Tosoh Corporation; Burwell Technologies; All Chemical Manufacturing & Consultancy Pty Ltd; Pon Pure Chemicals Group; Church & Dwight, Inc.; Sişecam; AGC Inc.; Ciech S.A.; and GHCL Limited are a few of the major players operating in the global sodium bicarbonate market. Market players operating in the global sodium bicarbonate are focused on providing high-quality products to fulfill customer demand. These market players are constantly focusing on strategies such as investments in research and development activities.

In 2021, Asia Pacific held the largest share of the global sodium bicarbonate market. Australia, China, India, Japan, and South Korea are the key contributors to the market in Asia Pacific. The growing population in the region has increased the need for food crops, which has fueled the usage of crop protection chemicals, including sodium bicarbonate, to increase agricultural productivity. Moreover, government initiatives and policies such as Make-in-India encourage the setup of different manufacturing plants in India. The rise in foreign direct investments also leads to regional economic growth. These factors are expected to propel the demand for sodium bicarbonate in Asia Pacific.

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High Demand in Animal Feed Industry

The poultry sector is registering a continual rise across the world. An increase in poultry production is mainly attributed to the rising demand for poultry meat and eggs. The rise in poultry production is catering substantially to the bolstering need of the global population. The US is one of the world's largest producers and second-largest exporters of poultry meat and a leading egg producer. Moreover, Australia has a developed and high-value animal husbandry sector, with cattle, sheep, and fish farming. This can be attributed to the increasingly high demand for animal products such as meat, cheese, and milk powder in the country.

With a growing demand for different animal products, the agricultural sector is focusing on scaling up the rearing of animals. With the growth of the dairy, chicken meat, and aquaculture industries, the need for animal feed is also on the rise. This is creating demand for sodium bicarbonate, as it is used in preparing nutrition mixes for poultry, livestock, and aqua produce.

Based on form, the sodium bicarbonate market is bifurcated into powder and liquid. The powder segment held a larger share in the global sodium bicarbonate market in 2021. Sodium bicarbonate is often available in fine powder form. It can be used in applications such as food, pharmaceuticals, and fire extinguishing.

Based on end user, the sodium bicarbonate market is segmented into food & beverages, pharmaceutical, agriculture, chemical, cosmetic & personal care, textile & leather, homecare, and others. The food & beverages segment held the largest share in the global sodium bicarbonate market in 2021. Sodium bicarbonate is an essential ingredient in the food & beverages industry. High demand for high-quality fresh baked goods is propelling the sodium bicarbonate market growth globally for the food & beverages segment.

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In 2021, Asia-Pacific accounted for the largest share of the global sodium bicarbonate market. Growing demand from different end-use industries, including food and beverages, animal feed, pharmaceuticals, and textiles, led to the dominance of the Asia Pacific region in 2021.

In 2021, the technical grade and others segment held the largest market share. Increasing usage of technical grade sodium bicarbonate for applications such as chemical synthesis, dyes, leather, fire extinguishers, water treatment, and plastic moulding has led to the dominance of technical grade and others segment in the sodium bicarbonate market.

In 2021, the powder held the largest market share. The powder form of sodium bicarbonate is widely used in baking products such as cakes, biscuits, and bread. It is also used as a cleansing agent due to its mild disinfectant properties. Moreover, animal feed and fire extinguishers' applications led to the powder segment's dominance in 2021.

During the forecast period, the agriculture segment is expected to be the fastest-growing segment. Using sodium bicarbonate in agrochemicals is driven by treating insects in farmlands and washing pesticides from fruits & vegetables. Moreover, it is environment friendly natural agent therefore used in the form of pesticides in agricultural farm which is expected to accelerate sodium bicarbonate market demand during the forecast period. The sodium bicarbonate market is expanding as a result of rising consumer demand for convenience foods. Its usage in baked products such as bread, biscuits, and cakes is driven by its capacity to neutralise acidic conditions and maintain a stable PH level in food. Additionally, sodium bicarbonate's low environmental impact and lower manufacturing costs are advantageous to baking soda manufacturers.

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Based on end user, the global market is segmented into food & beverages, pharmaceutical, agriculture, chemical, cosmetic & personal care, textile & leather, homecare, and others. In 2021, the food & beverages segment held the largest market share. Sodium bicarbonate is an essential ingredient in the food & beverages industry. In the bakery & confectionery industries, it is used as a leavening agent, effervescent agent, and pH buffer. Further, sodium bicarbonate is a valuable buffer and neutralizer in beverages. The increasing demand for high-quality fresh baked goods is propelling the sodium bicarbonate market growth globally for the food & beverages segment.

The global market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. In 2021, Asia Pacific held the largest revenue share of the global sodium bicarbonate market. It is one of the prominent markets for the utilization of sodium bicarbonate in the bakery & agriculture industry. Moreover, sodium bicarbonate is widely used in aquaculture to maintain water's pH levels. According to Asian Development Bank, the Asian region accounts for 88% of world aquaculture production. Further, the key players operating in the Asia Pacific sodium bicarbonate market are investing heavily in R&D initiatives.

A white, crystalline powder known as sodium bicarbonate is used as a systemic alkalizer, buffer, electrolyte replenisher, and in topical cleansing treatments. This sodium bicarbonate is used for food fermentation, as a detergent ingredient, carbon dioxide foamer, in pharmacy, leather, ore milling and metallurgy, detergent for woodland, metal heat-treating, fiber and rubber industry etc. Similar to other chemical leavening agents, sodium bicarbonate is typically used in baked products that do not require yeasts, such as cakes, cookies, muffins and cupcakes.

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Impact of COVID-19 Pandemic on Sodium Bicarbonate Market

The COVID-19 pandemic caused a significant economic loss across the globe. The pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Governments of various economies had taken possible steps to restrict the spread of SARS-CoV-2 by announcing a country-wide lockdown, which directly impacted the growth of industrial sectors. During the COVID-19 quarantine period, many people started indulging in their hobbies of baking and cooking. The closure of different food outlets had led to people baking at home.

This has created a demand for different bakery ingredients, including sodium bicarbonate. Moreover, due to the lockdown measures and physical distancing, make-up products have fallen into the nonessential product category. While the self-care products became valuable during the pandemic as people placed greater importance on their wellbeing. Various countries from the region have also restarted their business activities. With this, the demand for sodium bicarbonate is expected to improve in the coming months.

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