The sodium benzoate market in Asia Pacific is expected to grow from US$ 80,441.10 thousand in 2021 to US$ 1,12,242.87 thousand by 2028; it is estimated to register a CAGR of 4.9% from 2021 to 2028. The growing cosmetics & personal care sector in Asia Pacific is the major factor driving the growth of the Asia Pacific sodium benzoate market. Rising consumer spending and a growing population are expected to boost the personal care industry growth during the forecast period, aiding the sodium benzoate market. Due to its antimicrobial and antifungal properties, sodium benzoate is used as a preservative in cosmetics and personal care products. The low cost and easy availability of cosmetic and chemical preservatives make them a popular option for most personal care and cosmetic producers.
The demand for halal cosmetics is rising, which is expected to boost the growing preservatives market in the coming years. Sodium benzoate is a corrosion inhibitor, fragrance component, and preservative that is added to a wide range of cosmetics and personal care products. When coupled with caffeine, it can act as sunscreen and antioxidant and give UVB protection. Sodium benzoate is commonly used in hair care products, baby wipes, toothpaste, and mouthwash. The increasing population and rising disposable income worldwide are driving the cosmetics & personal care sector. Thus, the growing cosmetics & personal care industry is creating lucrative growth opportunities for the sodium benzoate market in Asia Pacific.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific sodium benzoate market at a notable CAGR during the forecast period.
Asia Pacific Sodium Benzoate Market Segmentation
The Asia Pacific sodium benzoate market is bifurcated into application and country. Based on application, the Asia Pacific sodium benzoate market is segmented into food and beverages, pharmaceuticals, cosmetics, agriculture, and others. In 2021, the food and beverages segment accounted for the largest revenue share. Based on country, the Asia Pacific sodium benzoate market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Further, China held the largest market share in 2021.
A.M FOOD CHEMICAL CO., LIMITED; Akema S.r.l.; Eastman Chemical Company; Foodchem International Corporation; Jarchem Innovative Ingredients LLC; LANXESS; MERCK KGaA; and Zancheng Life Sciences Ltd. are among the leading companies operating in the sodium benzoate market in Asia Pacific.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 80,441.10 thousand |
| Market Size by 2028 | US$ 1,12,242.87 thousand |
| CAGR (2021 - 2028) | 4.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Sodium Benzoate Market is valued at US$ 80,441.10 thousand in 2021, it is projected to reach US$ 1,12,242.87 thousand by 2028.
As per our report Asia Pacific Sodium Benzoate Market, the market size is valued at US$ 80,441.10 thousand in 2021, projecting it to reach US$ 1,12,242.87 thousand by 2028. This translates to a CAGR of approximately 4.9% during the forecast period.
The Asia Pacific Sodium Benzoate Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Sodium Benzoate Market report:
The Asia Pacific Sodium Benzoate Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Sodium Benzoate Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Sodium Benzoate Market value chain can benefit from the information contained in a comprehensive market report.
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