Sodium Benzoate Market Research Report—Global Forecast till 2028

Global Sodium Benzoate Market Research Report: Information by Form (Dry & Liquid), by Application [Beverage, Food (Baked Products, Condiments, Dressings, Frozen Dairy Products, Others), Pharmaceuticals, Personal Care & Others], by Region – Forecast till 2028

ID: MRFR/F-B & N/9062-HCR | April 2021 | Region: Global | 90 pages

Market Scenario


The global sodium benzoate marketsize in 2020 was valued at USD 186.3 million and is expected to exhibit a CAGR of 4.3% from 2020 to 2027.


Sodium Benzoate is a common food preservative and a mold inhibitor. It is most effective in low acid foods and beverages and baked products such as breads, cakes, pies, and tortillas. It is also used as a preservative in the personal care and cosmetic products such as baby products, bath products, soaps and detergents, eye makeup, blushers, cleansing products, make up products, as well as hair, nail and skin care products.


Demand for sodium benzoate is increasing steadily across numerous industries. In the food industry, its demand is soaring owing to the rising demand for convenience food and food products that require longer shelf life. The rising demand for various frozen food is augmenting its demand since last couple of years. In the personal care industry, sodium benzoate has numerous applications as it acts as a corrosion inhibitor while packaging of cosmetic and personal care products. In the pharmaceutical industry, sodium benzoate is used in most of the over-the-counterdrugs, especially in the liquid syrups. Hence, growth of these industries is certainly anticipated to propel the market growth in coming years. However, increasing awareness regarding the harmful impacts of synthetic preservatives, especially in the North American and European region is anticipated to create a restraining factor for its market growth in coming years.


Market Synopsis


The global sodium benzoate market has witnessed exponential growth over the last couple of years. Additionally, the outbreak of a global pandemic,COVID-19,has further created lucrative growth opportunities for manufacturers of sodium benzoate. The outbreak of Covid-19 has drastically impacted the supply chain across various industries. For example, food supply chain across the globe has become stagnant post lockdown woes which has ultimately resulted in strong demand for preservatives.


Market USP


Increasing consumer awareness towards healthy and nutritious food


Market Drivers



  • Rising consumption of convenience food: The growing consumption of convenience and on-the-go food products has been a key factor behind the growth of the market. Quick snacks meals are increasingly becoming popular due to ease of use, variety and all-season availability. All these factors are anticipated to create lucrative growth opportunities in coming years.

  • Advent of various fast food retail chains

  • Rising application of sodium benzoate across various end-use industry

  • Growth of the organized retail sector in developing countries


Market Restraints

  • Rising awareness for synthetic preservatives


Segmentation


By Form



  • Dry:Dry form of sodium benzoate is the most commonly used in the global market. Its extensive usage in the food and beverage industry makes dry form most popular compared to the liquid form. The dry form has also its application across pharmaceutical as well as personal care and cosmetic industry.

  • Liquid


By Application



  • Beverage

  • Food: Food segment is bifurcated into baked products, condiments, dressings, frozen dairy products, and others. The segment dominated the market and is expected to remain dominant during the review period. Strong demand for preservatives in food segment has led to its dominance.

  • Pharmaceuticals

  • Personal Care

  • Others


By Region



  • North America

  • Europe: Europe dominated the global sodium benzoate market with market share of approximately 34% in 2020.Substantial growth rate of convenience food products is one of the significant factors for the rising growth of Europe market.However, increasing awareness regarding the harmful effects of synthetic preservatives is anticipated to lower the growth of the market in coming years.

  • Asia-Pacific: According of MRFR analysis, Asia-Pacific is anticipated to witness substantial growth opportunities in coming years. Presence of strong food & beverage industry has been a key factor towards its growth. Additionally, the dominance of pharmaceutical industry in the region is further expected to create lucrative opportunities during the review period. Furthermore, growth of fast-food industry is expected to boost the market in near future.

  • Rest of the World


Key Players



  • Linuo Europe GmbH

  • DuPont de Nemours Company

  • M. Food Chemical Co. Limited

  • Tulstar Products Inc.

  • Emerald Performance Materials LLC

  • Foodchem International Corporation

  • Hugestone enterprise co. Ltd.

  • Grenkem

  • Merck KGaA

  • Avantor inc.



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 186.3 million
  CAGR   4.3%
  Base Year   2019
  Forecast Period   2028
  Historical Data   2018
  Forecast Units   v
  Report Coverage   
  Segments Covered   
  Geographies Covered   
  Key Vendors   
  Key Market Opportunities   
  Key Market Drivers