Report : North America Sodium Benzoate Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Application (Food and Beverages, Pharmaceuticals, Cosmetics, Agriculture, and Others)
At 3.9% CAGR, the North America sodium benzoate market is speculated to be worth US$ 22,793.05 thousand by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America sodium benzoate market was valued at US$ 17,397.64 thousand in 2021 and is expected to reach US$ 22,793.05 thousand by 2028, registering an annual growth rate of 3.9% from 2021 to 2028. Rising Demand for sodium benzoate in food & beverages industry and significant requirement for sodium benzoate in various end-use industries are the critical factors attributed to the market expansion.
Sodium benzoate is widely used in various end-use industries, including food & beverages, pharmaceutical, and cosmetic & personal care, to maintain product quality, improve product safety, and extend product shelf life. It is utilized as a preservative in various food and beverage products, cosmetics, and medicines. In the food & beverage industry, sodium benzoate is required to prevent spoilage from harmful micro-organisms, such as bacteria, yeasts, and molds. It also helps maintain the freshness and shelf life of food. As per the Association of American Feed Control, it can also be utilized as an animal food additive at up to 0.1%.
Sodium benzoate is utilized to treat urea cycle problems due to its ability to bind amino acids. As a result, these amino acids are excreted, and ammonia levels drop. It also finds application as an antimicrobial preservative, antifungal, and lubricant for tablets and capsules. Sodium benzoate is often used as a preservative in liquid medicines such as cough syrup. It is applied in fireworks as a fuel in whistle mix, a powder that emits a whistling noise when compressed into a tube and ignited. It is used to deter corrosion in coolants for car engines and antifreeze products. In agriculture, sodium benzoate is used as a feed additive with anti-mold and antifungal properties, compatible with lactic acid bacteria added during ensiling. Furthermore, it may be found in non-consumable cosmetic items such as toothpaste, mouthwash, and various types of hair care products. Sodium benzoate acts as a corrosion inhibitor, fragrance component, and preservative in a wide range of cosmetics and personal care products. Thus, the increasing demand for sodium benzoate across various end-use industries is propelling the market growth.
On the contrary, rise in various safety concerns related to sodium benzoate hurdles the growth of North America sodium benzoate market.
Based on application, the North America sodium benzoate market is segmented into food and beverages, pharmaceuticals, cosmetics, agriculture, and others. Food & beverages held 48.4% market share in 2021, amassing US$ 8,396.77 thousand. It is projected to garner US$ 11,049.63 thousand by 2028 to expand at 4.0% CAGR during 2021–2028.
Our regional analysis states that the US captured 76.4% market share in 2021. It was assessed at US$ 13,287.62 thousand in 2021 and is likely to hit US$ 17,588.59 thousand by 2028, exhibiting a CAGR of 4.1% during the forecast period.
Key players dominating the North America sodium benzoate market are A.M FOOD CHEMICAL CO., LIMITED; Akema S.r.l.; Eastman Chemical Company; FBC Industries; Foodchem International Corporation; Jarchem Innovative Ingredients LLC; LANXESS; MERCK KGaA; Reagents; and Zancheng Life Sciences Ltd.
- In 2020, Foodchem has developed an energy drink product.
- In 2022, Warby Parker partners with Eastman to launch new demo lens molecular recycling program.
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