The market overview of Sodium Bicarbonate
The global market for Sodium Bicarbonate, which was anticipated to be worth US$1.3 billion in 2020, is expected to expand to US$1.7 billion by 2026, at a CAGR of 5.2 percent over the forecast period.
Why is there a rise in demand for Sodium Bicarbonate in the global market?
Rising demand from a variety of end-use sectors is expected to propel the global market forward. The cheap availability and inexpensive production cost of sodium bicarbonate contribute to its high demand. In the future years, the food and beverage industry is projected to remain one of the most appealing areas for sodium bicarbonate.
- The rising demand for sodium bicarbonate in the sector can be attributed to changing lifestyle and food preferences, which has resulted in increased consumption of packaged and processed goods.
- The substance is widely utilised in the animal feed and nutrition business, as well as in the decolorization of textiles.
- Leather, detergents, dyes, and flue gas desulfurization are some of the other common uses for sodium bicarbonate. Sodium bicarbonate is also utilised as a deodorising agent in a variety of personal care products.
- One of the report's segments, Crystal/ Powdered Crystal, is expected to increase at a 5.5 percent CAGR to reach US$1.5 billion by the conclusion of the analysis period. After a careful examination of the pandemic's commercial ramifications and the resulting economic crisis, the Liquid segment's growth is revised to a revised 4.3 percent CAGR for the next seven years.
This market sector now controls 12% of the worldwide Sodium Bicarbonate market. Electrolyte replenishers, topical cleansing treatments, systemic alkalizers, and buffering agents are all made from sodium bicarbonate crystals. Improved user convenience and rising demand for sodium hydrogen carbonate in baking powder applications are driving growth in the powder segment.
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