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At 3.2% CAGR, the South & Central America Sodium Bicarbonate Market is speculated to be worth US$ 97.77 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America sodium bicarbonate market was valued at US$ 80.96 million in 2022 and is expected to reach US$ 97.77 million by 2028, registering an annual growth rate of 3.2% from 2022 to 2028. Growing focus on treatment of industrial pollutants and proliferation of cosmetics and personal care industries are the critical factors attributed to the market expansion.
The proliferation of cosmetics and personal care industries is the leading factor driving the growth of the South & Central America sodium bicarbonate market. Sodium bicarbonate is highly used in the cosmetics and personal care industries. It is used as an ingredient in toothpaste, deodorizers, face packs, and body cleansing foams and gels. Sodium bicarbonate is used as an additive in cosmetic powders, washes, and tablets for disinfecting braces or dental prostheses. It has a soothing and lightening effect on the skin; hence, it is used to manufacture cream for hands and legs and prepare anti-dandruff masks for hair. Australia has a flourishing beauty industry. The country’s resilience and steady economic activity provide an ideal environment for the progress of local and international beauty brands present in the country. The cosmetics industry is growing faster, with more and more people buying personal care and beauty products. Therefore, the growth of the cosmetics and personal care industry is likely to introduce new trends in demand for sodium bicarbonate in the coming years.
On the contrary, environmental impact of sodium bicarbonate hurdles the growth of South & Central 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 33.9% market share in 2022, amassing US$ 17.27 million. It is projected to garner US$ 20.38 million by 2028 to expand at 2.8% CAGR during 2022–2028.
Based on form, the sodium bicarbonate market is bifurcated into powder and liquid. The former held 90.4% market share in 2022, amassing US$ 46.07 million. It is projected to garner US$ 54.10 million by 2028 to expand at 2.7% CAGR during 2022–2028.
By the end user, the South & Central 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 35.6% share of the domain, the food and beverage segment dominated the market in 2022. It accrued US$ 18.14 million in 2022 and is estimated to generate US$ 21.63 million by 2028 to grow at a CAGR of 3.0% over the forecast period.
Our regional analysis states that the Rest of SAM captured 46.9% market share in 2022. It was assessed at US$ 23.89 million in 2022 and is likely to hit US$ 28.01 million by 2028, exhibiting a CAGR of 2.7% during the forecast period.
Key players dominating the South & Central 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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