Key Market Overview:
Sodium Bicarbonate Market size was valued at USD 1.40 Billion in 2022, registering a CAGR of 5.2% during the forecast period (2023-2030), and the market is projected to be worth USD 2.10 Billion by 2030.
Sodium bicarbonate, also known as baking soda, is a chemical compound with the formula NaHCO3. It is a white, crystalline powder that is soluble in water and has a slightly salty and alkaline taste. Sodium bicarbonate has widely used in various industries, including food and beverage, pharmaceuticals, agriculture, and personal care. For instance, in the food industry sodium bicarbonate is commonly used as a leavening agent in baked goods such as cakes, cookies, and bread. It is also used as a pH regulator and flavor enhancer in various food products.
Additionally, Asia-Pacific is expected to dominate the sodium bicarbonate market, due to the growing demand for food and beverage products in countries such as China and India owing to the rapid increase in population. Moreover, the pharmaceutical industry in the region is growing rapidly, further driving the demand for sodium bicarbonate. This is because sodium bicarbonate is widely used in the pharmaceutical industry as an antacid, buffering agent, and expectorant. For instance, TATA chemical Limited offers Medikarb a pharmaceutical-grade sodium bicarbonate that serves as an active pharmaceutical ingredient or an excipient in pharmaceutical formulations. Its primary functions include adjusting the pH level and acting as a buffering agent in a variety of applications, such as antacids, dialysis solutions, and effervescent tablets.
Sodium bicarbonate is widely used as a leavening agent in baked goods, as well as a pH regulator and flavor enhancer in various food products. The increasing demand for packaged and processed food products is driving the demand for sodium bicarbonate. Sodium bicarbonate is used as an antacid to neutralize excess stomach acid and treat heartburn and acid indigestion. It is also used as an API and excipient in drug formulations. Moreover, the growing pharmaceutical industry is accelerating the sodium bicarbonate market.
Sodium bicarbonate is produced from soda ash and carbon dioxide, and fluctuations in the prices of these raw materials can affect the overall cost of sodium bicarbonate production. Owing to the aforementioned reason, the profitability of sodium bicarbonate manufacturers is likely to be impacted and limit the growth of the market.
The key manufacturers operating in the sodium bicarbonate market are focusing on R&D to develop new specialty grades of sodium bicarbonate that can be used in a wide range of applications. For instance, in recent studies, sodium bicarbonate is being explored to show notable improvements in the mechanical properties of sisal fibers.
Sodium Bicarbonate Report Coverage:
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||2.10 billion|
|By Type||Powder, Liquid, and Crystals|
|By Grade||Feed, Food, Technical, and Pharma|
|By End Use Industry||Feed, Food & Beverages, Flue Gas Treatment, Personal Care & Pharmaceuticals, Detergents & Cleaning Agents, Hemodialysis, Agriculture, Chemicals, and Textile|
|By Geography||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Players||Şişecam Group, Solvay SA, AGC Inc, Church & Dwight Company, Bashkir Soda Company, Kazan Soda Elektrik, Ciner Group, Tata Chemicals, Natural Soda, and Ciech Group|
Based on the type segment, the market is categorized into Powder, Liquid, and Crystals. The powder sodium bicarbonate segment held the highest market share, due to the widespread use of sodium bicarbonate in the food and beverage industry as a leavening agent, as well as in personal care products as an exfoliant and pH adjuster.
However, the liquid sodium bicarbonate segment is anticipated to register the fastest CAGR in the sodium bicarbonate market over the forecast period in the pharmaceutical industry due to its ease of use and faster absorption rate compared to other forms of sodium bicarbonate.
Based on the grade segment, the market is divided into Feed, Food, Technical, and Pharma. The food segment is dominated the sodium bicarbonate market in terms of revenue in 2022. Food grade sodium bicarbonate is widely used as a leavening agent, pH regulator, and flavor enhancer in the food industry for various foods such as bread, cakes, and cookies. Moreover, the pharma grade segment is anticipated to witness significant growth in the sodium bicarbonate market over the forecast period. This is attributed to the fact pharma grade sodium bicarbonate is a high-purity grade of sodium bicarbonate that is specifically manufactured for use in the pharmaceutical industry. It is used primarily as an antacid to treat conditions such as heartburn, acid indigestion, and stomach upset.
By End Use Industry
On the basis of end-use industry, the market is segmented into feed, food & beverages, flue gas treatment, personal care & pharmaceuticals, detergents & cleaning agents, hemodialysis, agriculture, chemicals, and textile. The food & beverage industry held the largest share of the sodium bicarbonate market in terms of value. This is attributed to the fact sodium bicarbonate is a versatile ingredient in the food and beverage industry, and its various properties make it useful for a wide range of applications. Its ability to act as a leavening agent, pH regulator, and flavor enhancer, as well as its mineral supplement and food processing aid properties, make it an important ingredient in many food and beverage products. The pharmaceutical industry is expected to show a steady growth rate in terms of CAGR over the forecast period, due to the widespread use of sodium bicarbonate in the pharmaceutical industry as an antacid, buffering agent, and component of oral rehydration solutions. Its ability to neutralize acid and maintain pH levels makes it a useful ingredient in many pharmaceutical products.
Based on the region, the sodium bicarbonate market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America dominates the market with the highest market share in 2022 owing to the increasing demand for food & beverages products. Additionally, the region has well established pharmaceutical industry that is also accelerating the demand for sodium bicarbonate. However, Asia-Pacific is expected to witness significant growth over the forecast period owing to the changing standard of living in the region that is further increasing there the demand for processed and convenience foods. Sodium bicarbonate is used extensively in the food industry as a leavening agent, pH regulator, and flavor enhancer, which is driving the demand for this product in the region. In addition, the Asia Pacific region is also experiencing significant growth in the pharmaceutical and personal care industries, which are key end-use markets for sodium bicarbonate.
Sodium Bicarbonate Market Competitive Landscape:
The sodium bicarbonate market is highly competitive comprising numerous players operating in the industry. The players are focusing on strategic initiatives, such as mergers and acquisitions, partnerships, collaborations, new product launches, and capacity expansions to strengthen their market position and expand their global presence.
The following are the major key players operating in the sodium bicarbonate market:
- Şişecam Group
- Solvay SA
- AGC Inc
- Church & Dwight Company
- Bashkir Soda Company
- Kazan Soda Elektrik
- Ciner Group
- Tata Chemicals
- Natural Soda
- Ciech Group
- In September 2022, Azurity Pharmaceuticals, a company that specializes in developing innovative dose forms and formulations of products for underserved patients, received FDA approval for its product Konvomep. Konvomep is an oral suspension containing omeprazole and sodium bicarbonate that has been approved for the treatment of active benign gastric ulcers and to reduce the risk of upper gastrointestinal bleeding in critically ill patients.
- In June 2022, Tata Chemicals Europe has opened the first industrial-scale plant in the UK that captures and utilizes carbon. The new plant is capable of producing sodium bicarbonate and sodium carbonate products with one of the world’s lowest carbon footprints.
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