Rising Consumption of Baked Food to Escalate Sodium Bicarbonate Market Growth
According to our latest market study on “Sodium Bicarbonate Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Grade, Form, and End User,” the market is expected to grow from US$ 1,596.37 million in 2021 to US$ 2,133.33 million by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028. The report highlights major factors driving the market growth and prominent players along with their developments in the market.
The market for sodium bicarbonate is highly competitive and has a large number of established manufacturers. Solvay, Tosoh Corporation, and AGC Inc. are among the players operating in the global sodium bicarbonate market with a multi-country presence. They are competing based on product quality and product differentiation. The market is growing due to the high demand for sodium bicarbonate from various industries, such as food & beverages, pharmaceutical, agriculture, and chemical.
In bakery industries, sodium bicarbonate is used as a leavening agent, pH buffer, and effervescent agent in bakery products. When it comes in contact with an acid, it produces CO2 gas. The gas bubbles promote the rising in cakes, cookies, and other baked goods. The bakery industry in the US is well-established. According to the American Bakers Association, the bakery industry make up ~2.1% of the gross domestic product. Further, sourdough, ciabatta, brioche, and baguettes are the widely consumed bread types and are a major source of salt in the Australian diet. In Australia, the baked goods industry is growing as consumers continue to buy a wide variety of high-quality, freshly baked food products.
The popularity of products with high-fiber and whole-grain content is growing in different countries. Thus, people prefer consuming whole meals, seeded, and gluten-free varieties of bread. Therefore, the surging consumption of baked food is driving the global market.
Solvay S.A.; Tosoh Corporation; Burwell Technologies; All Chemical Manufacturing & Consultancy Pty Ltd; Pon Pure Chemicals Group; Church & Dwight, Inc.; Si?ecam; AGC Inc.; Ciech S.A.; and GHCL Limited are a few of the major players operating in the global sodium bicarbonate market. Market players are focused on providing high-quality products to fulfill customer demand.
Impact of COVID-19 Pandemic on Sodium Bicarbonate Market
Before the onset of the COVID-19 pandemic, the growing demand for sodium bicarbonate in various industries, such as food & beverages, pharmaceutical, chemical, and cosmetic & personal care, bolstered the sodium bicarbonate market growth. However, the pandemic affected various economies around the world. The unprecedented rise in the number of COVID-19 cases across various countries and the subsequent lockdown of numerous manufacturing facilities have adversely affected the growth of various markets. Due to the lockdown measures and physical distancing, a few cosmetics goods, such as make-up, have fallen into the nonessential product category. However, during the pandemic, people had started looking for new activities they could do while spending more time at home; baking piqued the interest of many people. This had created a slightly positive impact on the global sodium bicarbonate market growth. The demand for sodium bicarbonate is increasing in different industries as the economies revive their operations. This is expected to offer lucrative growth opportunities for the global sodium bicarbonate market during the forecast period.
Global Sodium Bicarbonate Market Breakdown –by Region
Sodium Bicarbonate Market Size Analysis, Growth Forecast to 2028
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Sodium Bicarbonate Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Grade (Food Grade, Pharmaceutical Grade, Feed Grade, and Technical Grade and Others), Form (Powder and Liquid), and End User (Food & Beverages, Pharmaceutical, Agriculture, Chemical, Cosmetic & Personal Care, Textile & Leather, Homecare, and Others)
Sodium Bicarbonate Market Size Analysis, Growth Forecast to 2028
Download Free SampleSodium Bicarbonate Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Grade (Food Grade, Pharmaceutical Grade, Feed Grade, and Technical Grade and Others), Form (Powder and Liquid), and End User (Food & Beverages, Pharmaceutical, Agriculture, Chemical, Cosmetic & Personal Care, Textile & Leather, Homecare, and Others)
The report includes the segmentation of the global sodium bicarbonate market as follows:
Based on grade, the global sodium bicarbonate market is segmented into food grade, pharmaceutical grade, feed grade, and technical grade and others. Based on form, the market is bifurcated into powder and liquid. Based on end user, the market is segmented into food & beverages, pharmaceutical, agriculture, chemical, cosmetic & personal care, textile & leather, homecare, and others. By geography, the global sodium bicarbonate market is broadly segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, the UK, Italy, Russia, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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