Sodium Benzoate Market to Grow with a CAGR of 6.01% through 2028
According to TechSci
Research report, “Sodium Benzoate Market – Global Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the Global Sodium
Benzoate Market stood at USD 1.24 billion in 2022 and is anticipated to grow
with a CAGR of 6.01% in the forecast period, 2024-2028. This can be attributed
to research and development initiatives. Key players in the sodium benzoate
market are actively engaged in research and development activities to enhance
the efficiency and safety profile of their products. Continuous innovation in
preservative technologies ensures that sodium benzoate remains a reliable
solution for food and beverage manufacturers seeking to meet consumer demands
for both convenience and safety.
Furthermore, sustainability
is a buzzword across industries, and the sodium benzoate market is no
exception. Green chemistry practices, such as optimizing production processes
and reducing environmental impact, are gaining traction. Manufacturers are
expected to explore sustainable sourcing, production, and packaging practices
to align with global sustainability goals.
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"Global Sodium Benzoate Market”
Consumers are
increasingly turning to processed food and beverage items like fruit drinks,
snacks, and processed meat to meet their daily nutritional needs. In several
European countries, the growing trend of skipping meals, particularly
breakfast, has heightened consumer inclination towards processed and packaged
food and beverage products. Essential ingredients in these products, such as
preservatives including sodium benzoate, have played a pivotal role in driving
the market.
The market,
however, faced a significant downturn as channel partners experienced a notable
decline in demand due to shutdowns, leading to elevated inventory levels and
challenges in clearing pending stock. The first two quarters of 2020 saw sodium
benzoate manufacturers grappling with substantial disruptions in their raw
material supply chain caused by the COVID-19 pandemic. The widespread use of
sodium benzoate as a synthetic preservative in the food industry serves as a
major growth driver, particularly in low pH products like jams, salad
dressings, carbonated drinks, pickles, etc. Its popularity stems from its ease
of manufacturing, colorlessness, and cost-effectiveness. Additionally, the
pharmaceutical sector employs sodium benzoate as a preservative in liquid
formulations.
The Global Sodium
Benzoate Market is segmented into form, application, regional distribution, and
company.
Based on its
form, the powder segment emerged as the market leader, securing the largest
share of global revenue in 2022. Sodium benzoate E211 powder, characterized by
its white appearance, exhibits maximum effectiveness at slightly acidic pH
levels. It readily dissolves in water but shows lower solubility in organic
solvents. This form of sodium benzoate plays a crucial role in preserving
fruits, vegetables, salads, and fish marinades. Moreover, it is employed to
maintain the freshness of beer, olives, and fruit yogurt. Notably, its
environmentally friendly nature allows it to accumulate in water and soil.
Looking ahead,
the granules segment is anticipated to experience a notable CAGR during the
forecast period. Sodium benzoate granules, which are white in color, represent
the sodium salt of benzoic acid and are water-soluble. These granules serve as
preservatives in various food items such as fruit juices, pickles, salad
dressings, carbonated drinks, and jams. As an antifungal agent, sodium benzoate
aids in balancing the pH within individual cells, thereby enhancing the overall
acidity of the product. This adjustment makes it challenging for fungi to
thrive, preventing food contamination and significantly extending its shelf
life.
Based on
application, the market was notably led by the food and beverages segment,
capturing the largest share of global revenue in 2022. According to the International
Program on Health and Safety, sodium benzoate is extensively utilized in the
beverage industry. Specifically, it is employed to enhance the acidity of soft
drinks, thereby intensifying the flavor of high-fructose corn syrup. On the
ingredient list of a soda can, sodium benzoate is identified as E211, the
designated code for this food additive. E211 is a common component in diet soft
drinks.
Looking ahead,
the cosmetic segment is poised to experience the most rapid CAGR in terms of
revenue during the forecast period. Studies indicate that sodium benzoate can
be safely incorporated into cosmetic formulations at concentrations of up to
5%. However, it is essential to consider immunological factors when applying
this chemical in cosmetic products designed for infants and children.
Functioning as an antifungal preservative, sodium benzoate is found in both
cosmetics and food, displaying high efficacy against fungi, yeasts, and
bacteria.
Major companies
operating in Global Sodium Benzoate Market are:
- Foodchem International Corporation
- Avantor Inc.
- Merck KGaA
- Ganesh Benzoplast Ltd.
- Spectrum Chemical Manufacturing Corp
- Wuhan Youji Industrial Co Ltd
- FBC Industries, Inc.
- Tengzhou Tenglong Chemical Co., Ltd.
- CellMark AB
- AM Food Chemical Co., Limited
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“The global
sodium benzoate market is on the brink of transformative changes, driven by
evolving consumer preferences and industry dynamics. Staying attuned to the
emerging trends will be essential for market players seeking to capitalize on
new opportunities, meet evolving regulatory standards, and maintain a
competitive edge in a rapidly evolving market landscape. As the sodium benzoate
market navigates the future, the trends are set to shape its trajectory and
influence its role in diverse industries,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“Sodium Benzoate Market By Form
(Powder, Granules, Others), By Application (Beverages & Food, Cosmetics,
Pharmaceuticals, Others), By Region, By
Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Sodium Benzoate Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Sodium Benzoate Market.
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