[Research Report] The sodium bicarbonate market is expected to grow from US$ 1,596.37 million in 2021 to US$ 2,133.33 million by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028.
Sodium bicarbonate is commonly known as baking soda or bicarbonate of soda. It is a chemical compound with the formula NaHCO₃. There is a wide range of applications of sodium bicarbonate. It is widely used in food & beverages, chemical, pharmaceutical, agriculture, and cosmetic & personal care industries.
In 2021, Asia Pacific held the largest revenue share of the global sodium bicarbonate market. The increasing use of sodium bicarbonate in various applications such as animal feed, bakery food, cleaning products, and cosmetic products is mainly driving the market growth in Asia Pacific. Rising disposable income is associated with elevated consumer demand for different bakery products. Moreover, improving socio-economic standards and large-scale development of the digital & manufacturing sectors are leading to high demand for cosmetic products in countries such as India. The cosmetics industry in the region is growing faster, with many people buying personal care and beauty products. Hence, the demand for sodium bicarbonate is increasing as it is used in toothpastes, deodorizers, face packs, face cleansing foams and gels, and cosmetic powders in the cosmetic & personal care industry.
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Sodium Bicarbonate Market: Strategic Insights
Market Size Value in US$ 1,596.37 Million in 2021 Market Size Value by US$ 2,133.33 Million by 2028 Growth rate CAGR of 4.3% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Sodium Bicarbonate Market: Strategic Insights
| Market Size Value in | US$ 1,596.37 Million in 2021 |
| Market Size Value by | US$ 2,133.33 Million by 2028 |
| Growth rate | CAGR of 4.3% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Impact of COVID-19 Pandemic on Sodium Bicarbonate Market
The COVID-19 pandemic has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In 2020, various industries had to slow down their operations due to disruptions in value chains caused by the restrictions on national and international boundaries. The pandemic disturbed manufacturing processes and created raw materials supply chain disruptions due to restrictions imposed by government authorities. The COVID-19 pandemic forced people to stay inside their homes. People had turned to improve their culinary skills in the extra time. Many people have started indulging in baking and cooking activities. This has created a demand for different bakery ingredients, including sodium bicarbonate.
Various industries are also overcoming the challenges related to the supply chain disruptions of their raw materials. Therefore, the demand for sodium bicarbonate is increasing in different industries.
Global Sodium Bicarbonate Market Breakdown –by Region
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Rising Consumption of Baked Food
Sodium bicarbonate is one of the most commonly used ingredients in baking. It can be used as a leavening agent, pH buffer, and effervescent agent in bakery industries. Bread, biscuits, cakes, pies, and pastries are among the most common products in the baking industry globally. Bread is a staple food in many European countries. Organic bread is also becoming extensively popular. In terms of organic bread, Germany is becoming one of the largest markets in Europe. Germany has a wide variety of bread due to the country's climatic conditions. It has a climate that allows all kinds of grain to be cultivated. The bakery industry in the US is well-established. Further, the baked goods industry in Australia is growing as consumers continue to buy a wide variety of high-quality, freshly baked food products owing to the increasing desire for healthy food options. Therefore, the surging consumption of baked food is driving the global sodium bicarbonate market.
Grade Insights
Based on grade, the global sodium bicarbonate market is segmented into food grade, pharmaceutical grade, feed grade, and technical grade and others. The technical grade and others segment held the largest share in the global sodium bicarbonate market in 2021. Technical grade sodium bicarbonate is commonly used for commercial and industrial purposes. It is utilized in different applications, including chemical synthesis, dyes, leather, fire extinguishers, water and wastewater treatment, plastic molding, ceramics, textile, waste gas desulphurization, and paper production.
Global Sodium Bicarbonate Market, by Grade – 2021 and 2028
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
End User Insights
Based on end user, the global sodium bicarbonate market is segmented into food & beverages, pharmaceutical, agriculture, chemical, cosmetic & personal care, textile & leather, homecare, and others. The food & beverages segment held the largest share in the global sodium bicarbonate market in 2021. Sodium bicarbonate is an essential ingredient in the food & beverages industry. It is a valuable buffer and neutralizer in beverages. In several soft drinks, sodium bicarbonate is used as a source of CO2.
Solvay S.A.; Tosoh Corporation; Burwell Technologies; All Chemical Manufacturing & Consultancy Pty Ltd; Pon Pure Chemicals Group; Church & Dwight, Inc.; Sişecam; AGC Inc.; Ciech S.A.; and GHCL Limited are a few of the major players operating in the global sodium bicarbonate market. Market players are focused on providing high-quality products to fulfill customer demand.
Report Spotlights
- Progressive industry trends in the sodium bicarbonate market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the sodium bicarbonate market from 2020 to 2028
- Estimation of global demand for sodium bicarbonate
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the growth of the sodium bicarbonate market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the sodium bicarbonate market at various nodes
- Detailed overview and segmentation of the market, as well as the sodium bicarbonate industry dynamics
- Size of the sodium bicarbonate market in various regions with promising growth opportunities
Global Sodium Bicarbonate Market, by Grade
- Food Grade
- Pharmaceutical Grade
- Feed Grade
- Technical Grade and Others
Global Sodium Bicarbonate Market, by Form
- Powder
- Liquid
Global Sodium Bicarbonate Market, by End User
- Food & Beverages
- Pharmaceutical
- Agriculture
- Chemical
- Cosmetic & Personal Care
- Textile & Leather
- Homecare
- Others
Company Profiles
- Solvay S.A.
- Tosoh Corporation
- Burwell Technologies
- All Chemical Manufacturing & Consultancy Pty Ltd
- Pon Pure Chemicals Group
- Church & Dwight, Inc.
- Sişecam
- AGC Inc.
- Ciech S.A.
- GHCL Limited
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Grade, Form, and End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The major players operating in the sodium bicarbonate market are Solvay S.A., Tosoh Corporation, Church & Dwight, Inc., SiÅŸecam, AGC Inc., Ciech S.A., Tata Chemicals, Ciner Group, Bashkhim Group, and Novacap Group.
In 2021, Asia-Pacific accounted for the largest share of the global sodium bicarbonate market. Growing demand from different end-use industries, including food and beverages, animal feed, pharmaceuticals, and textiles, led to the dominance of the Asia Pacific region in 2021.
In 2021, the technical grade and others segment held the largest market share. Increasing usage of technical grade sodium bicarbonate for applications such as chemical synthesis, dyes, leather, fire extinguishers, water treatment, and plastic moulding has led to the dominance of technical grade and others segment in the sodium bicarbonate market.
In 2021, the powder held the largest market share. The powder form of sodium bicarbonate is widely used in baking products such as cakes, biscuits, and bread. It is also used as a cleansing agent due to its mild disinfectant properties. Moreover, animal feed and fire extinguishers' applications led to the powder segment's dominance in 2021.
During the forecast period, the agriculture segment is expected to be the fastest-growing segment. Using sodium bicarbonate in agrochemicals is driven by treating insects in farmlands and washing pesticides from fruits & vegetables. Moreover, it is environment friendly natural agent therefore used in the form of pesticides in agricultural farm which is expected to accelerate sodium bicarbonate market demand during the forecast period.
The sodium bicarbonate market is expanding as a result of rising consumer demand for convenience foods. Its usage in baked products such as bread, biscuits, and cakes is driven by its capacity to neutralise acidic conditions and maintain a stable PH level in food. Additionally, sodium bicarbonate's low environmental impact and lower manufacturing costs are advantageous to baking soda manufacturers.
The List of Companies - Sodium Bicarbonate Market
- Solvay S.A.
- Tosoh Corporation
- Church & Dwight, Inc.
- Si?ecam
- AGC Inc.
- Ciech S.A.
- Tata Chemicals
- Ciner Group
- Bashkhim Group
- Novacap Group
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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