Report : North America Sodium Bicarbonate Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Grade (Food Grade, Pharmaceutical Grade, Feed Grade, and Technical Grade and Others), Form (Powder and Liquid), and End User (Food & Beverages, Pharmaceutical, Agriculture, Chemical, Cosmetic & Personal Care, Textile & Leather, Homecare, and Others)
At 4.0% CAGR, the North America Sodium Bicarbonate Market is speculated to be worth US$ 535.96 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America sodium bicarbonate market was valued at US$ 424.26 million in 2022 and is expected to reach US$ 535.96 million by 2028, registering an annual growth rate of 4.0% from 2022 to 2028. Increasing consumption of baked foods and high demand in animal feed industry are the critical factors attributed to the market expansion.
The poultry sector is registering a continual rise across the world. An increase in poultry production is mainly attributed to the rising demand for poultry meat and eggs. The upswing in the poultry production is catering substantially to the bolstering need for the North America population. According to the Food and Agriculture Organization (FAO) of the US, the world poultry meat production has increased from 9 to 132 million tons between 1961 and 2019, and egg production has grown from 15 to 90 million tons. The US is one of the world’s largest producers and second-largest exporter of poultry meat, and a leading egg producer in the world. In the country, the consumption of poultry meat is considerably higher. Further, Australia has a developed and high-value animal husbandry sector, with cattle, sheep, and fish farming. This can be contributed to the increasingly high demand for animal products such as meat, cheese, and milk powder in the country.
With a growing demand for different animal products, the agricultural sector is focusing on scaling up the rearing of animals. With the growth of the dairy, chicken meat, and aquaculture industries, the need for animal feed is also on the rise. This is creating demand for sodium bicarbonate, as it is used as animal feed material. Feed grade sodium bicarbonate is used in preparing nutrition mixes for poultry, livestock, and aqua produce. Sodium bicarbonate is an important source of sodium for livestock and poultry and it enriches the animal’s feed ration with sodium.
On the contrary, environmental impact of sodium bicarbonate hurdles the growth of North America sodium bicarbonate market.
Based on grade, the sodium bicarbonate market is segmented into food grade, pharmaceutical grade, feed grade, and technical grade and others. The technical grade and others segment held 40.9% market share in 2022, amassing US$ 173.62 million. It is projected to garner US$ 219.23 million by 2028 to expand at 4.0% CAGR during 2022–2028.
Based on form, the sodium bicarbonate market is bifurcated into powder and liquid. The former held 79.8% market share in 2022, amassing US$ 338.52 million. It is projected to garner US$ 425.94 million by 2028 to expand at 3.9% CAGR during 2022–2028.
By the end user, the North America sodium bicarbonate market is further segmented into food and beverage, pharmaceutical, agriculture, chemical, cosmetic and personal care, textile and leather, homecare, and others. With 28.9% share of the domain, the food and beverage segment dominated the market in 2022. It accrued US$ 122.77 million in 2022 and is estimated to generate US$ 158.88 million by 2028 to grow at a CAGR of 4.4% over the forecast period.
Our regional analysis states that US captured 88.9% market share in 2022. It was assessed at US$ 377.27 million in 2022 and is likely to hit US$ 478.76 million by 2028, exhibiting a CAGR of 4.1% during the forecast period.
Key players dominating the North America sodium bicarbonate market are AGC Inc.; Church & Dwight, Inc.; Ciech S.A.; GHCL Limited; Solvay S.A.; and Tosoh Corporation among others.
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