Global Sodium Bicarbonate Market 2019-2023 | Industry Analysis and Forecast | Technavio
LONDON--(BUSINESS WIRE)--Jan 9, 2019--Technavio’s global sodium bicarbonate market research report forecasts the market to grow at a CAGR of nearly 2% during the forecast period.
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Technavio has published a new market research report on the global sodium bicarbonate market from 2019-2023. (Graphic: Business Wire)
The growing use of sodium bicarbonate as a deodorizing agent will be one of the major trends in the during 2019-2023. Sodium bicarbonate is used to neutralize the acidity in the body, which assists it in absorbing odor and acts like a deodorant. It is a natural deodorizing product, which helps in improving the pH level of the body. Baking soda or sodium bicarbonate is free of chemical additives that are usually found in synthetically produced products.
According to Technavio analysts, one of the key drivers for the global sodium bicarbonate market is the increasing demand from food and beverage industry:
Global sodium bicarbonate market: Increasing demand from food and beverage industry
Sodium bicarbonate is mostly used in the food and beverage industry in the preparation of an extensive range of food products such as cakes, pancakes, rolls, muffins, cookies, soda bread, breads, sports drinks, soft drinks, and other baked and fried foods. It is mainly used as an effervescent agent in food and beverage products. Sodium bicarbonate is a leavening agent, which is commonly used for dough rise.
According to a senior research analyst at Technavio, “Sodium bicarbonate is used in the production of many soft drinks, soda drinks, and sports drinks. It creates CO2 in beverage products when mixed with an acidic compound such as carbonic acid and phosphoric acid. Thus, it is found in several carbonated and cola drinks. Sodium bicarbonate is also used in the manufacture of food colorants and food color gels owing to its stabilizing and anticaking properties.”
Global sodium bicarbonate market: Segmentation analysis
This global sodium bicarbonate market analysis report provides market segmentation by application (animal feed, food and beverage, FGT, pharma and cosmetics, and others) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the four major applications, the animal feed segment held the largest sodium bicarbonate market share in 2018, contributing to around 27% of the market. This application segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2018, followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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