Global Sodium Benzoate Market, By Form (Powder, Granules, Flakes, and Others), Application (Antifungal Agent, Antimicrobial Agent, Rust and Corrosion Inhibitor, Preservative, and Others), End-User (Food & Beverages, Cosmetics, Pharmaceuticals, and Others) – Industry Trends and Forecast to 2029.
Sodium Benzoate Market Analysis and Size
The use of natural preservatives derived from plants and animals is becoming more popular in the food preservatives market. Synthetic preservatives were previously preferred because they were effective. Consumers have recently shifted to preservative-free, natural, or organic food products. As a result, the food industry is developing preservatives that are as effective as natural ones.
Data Bridge Market Research analyses that the sodium benzoate market was valued at USD 589.3 million in 2021 and is expected to reach the value of USD 806.50 million by 2029, at a CAGR of 4.00% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Sodium Benzoate Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Form (Powder, Granules, Flakes, and Others), By Application (Antifungal Agent, Antimicrobial Agent, Rust and Corrosion Inhibitor, Preservative, and Others), By End-User (Food & Beverages, Cosmetics, Pharmaceuticals, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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ADM (U.S.), Sysco Corporation (U.S.), Conagra Foodservice, Inc. (U.S.), Royal Ridge Fruits (U.S.), Capricorn Food Products India Ltd. (India), ALFA LAVAL (Sweden), Tricom Fruit Products Limited (India), Capuzzo S.r.l. (Italy), Freudenberg Group (Germany), Saraf Foods Ltd (India), Mysore Fruits (India), Rhodes Food Group (South Africa), Del Monte (U.S.), MANDAR FOOD PRODUCTS (India), AOHATA CORPORATION. (Japan), Reid Produce Co. (U.S.), Speyfruit Ltd. (U.K.), PACIFIC COAST FRUIT COMPANY (U.S.), Washington Fruit & Produce Co (U.S.)
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Opportunities
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Market Definition
Sodium benzoate is a food preservative used in packaged goods. Especially for acidic pH food products like soft drinks, pickles, jams, and so on. Because of its preservative and adjuvant properties are also used in cosmetics, personal care products, and pharmaceuticals.
Drivers
- Global rising trend of consuming high quality processed food
The growing demand for processed foods as a result of their ease of storage and longer shelf life, as well as changing lifestyles, is fuelling the growth of the sodium benzoate market. Furthermore, the specificity of preservatives in biochemical reactions and the increasing demand for higher quality juices and beverages are some of the factors driving market growth. Furthermore, rising disposable income and increased awareness of healthy and high-quality nutritious food positively impact market growth.
- High application from the medical industry is augmenting market growth
Sodium benzoate also has medical applications, as it can be used to treat urea cycle disorders and hyper ammonemia. The increased use of this compound in the pharmaceutical industry, combined with rising pharmaceutical investment, is expected to boost the global sodium benzoate market. In the manufacturing industry, sodium benzoate is used to prevent rust and corrosion.
Opportunities
Globalization is the most important factor in connecting countries through trade. Similarly, it is the primary reason for developed nations' affluent GDPs. Similarly, as developing countries increase their exports, the purchasing power of the general public living in these countries grows. As a result, people can now afford convenience foods and meat. People with active lifestyles are gravitating toward ready-made, convenient foods. As a result of the increased demand for convenient food, the demand for its extended shelf life is increasing, driving the overall preservative industry.
Restraints
On the other hand, the high cost of processing and manufacturing sodium benzoate is expected to impede market growth. The emergence of technologically advanced preservatives is expected to put the sodium benzoate market under pressure.
This sodium benzoate market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the sodium benzoate market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Sodium Benzoate Market
The outbreak resulted in an increase in packaged food items as consumers became more aware of product hygiene and safety and thus preferred purchasing food with safe packaging. Because sodium benzoate is used as a preservative in many packaged foods, the market benefited from the increase in packaged food production. Furthermore, as a result of the pandemic's sudden impact, the market saw a surge in demand for products that support immunity-boosting in the pharmaceuticals and nutraceuticals industries.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Sodium Benzoate Market Scope
The sodium benzoate market is segmented on the basis of form, function and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Form
- Powder
- Granules
- Flakes
- Other
Function
- Food & Beverages
- Cosmetics
- Pharmaceuticals
- Others
Application
- Antifungal Agent
- Antimicrobial Agent
- Rust and Corrosion Inhibitor
- Preservative
- Others
Sodium Benzoate Market Regional Analysis/Insights
The sodium benzoate market is analysed and market size insights and trends are provided by country, of form, function and application as referenced above.
The countries covered in the sodium benzoate market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North American region is expected to hold the largest share of market revenue. The region's high consumption of canned and preserved foods has influenced market growth in the North American region.
APAC region is expected to grow at a significantly faster rate than the other regions during the forecast period. The region's growing urban population and less stringent regulations are expected to drive the sodium benzoate market forward.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Sodium Benzoate Market Share Analysis
The sodium benzoate market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to sodium benzoate market.
Some of the major players operating in the sodium benzoate market are:
- ADM (U.S.)
- Sysco Corporation (U.S.)
- Conagra Foodservice, Inc. (U.S.)
- Royal Ridge Fruits (U.S.)
- Capricorn Food Products India Ltd. (India)
- ALFA LAVAL (Sweden)
- Tricom Fruit Products Limited (India)
- Capuzzo S.r.l. (Italy)
- Freudenberg Group (Germany)
- Saraf Foods Ltd (India)
- Mysore Fruits (India)
- Rhodes Food Group (South Africa)
- Del Monte (U.S.)
- MANDAR FOOD PRODUCTS (India)
- AOHATA CORPORATION. (Japan)
- Reid Produce Co. (U.S.)
- Speyfruit Ltd. (U.K.)
- PACIFIC COAST FRUIT COMPANY (U.S.)
- Washington Fruit & Produce Co (U.S.)
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