The sodium benzoate market in North America is expected to grow from US$ 17,397.64 thousand in 2021 to US$ 22,793.05 thousand by 2028; it is estimated to register a CAGR of 3.9% from 2021 to 2028.
The sodium benzoate market in North America is expected to grow from US$ 17,397.64 thousand in 2021 to US$ 22,793.05 thousand by 2028; it is estimated to register a CAGR of 3.9% from 2021 to 2028. Sodium benzoate is the sodium salt of benzoic acid. It is widely used as a food preservative and a pickling agent in the food & beverages industry. The rising demand for sodium benzoate in this industry is the major factor driving the growth of the North America sodium benzoate market. It is generally recognized as safe by the Food and Drug Administration (FDA) and allows up to a 0.1% concentration by weight when used in food products. Sodium benzoate is used in acidic foods such as salad dressings, carbonated drinks, pickles, jams and fruit juices, condiments, and frozen yogurt toppings to prevent spoilage caused by harmful microorganisms such as harmful bacteria, yeasts, and molds. It also helps maintain freshness in food by slowing down or preventing color, flavor, PH, and texture changes. Moreover, it acts as a bacteriostatic and fungistatic preservative in soft drinks and other beverages, which increases the acidic flavor and extend the product's shelf life. Sodium benzoate is commonly used as a preservative in many products to protect the food taste. For instance, the Coca-Cola Company uses it as an antimicrobial agent in Coca-Cola drinks.
The North America food & beverages industry is growing at a rapid pace. People consume packaged food products due to their hectic lifestyles, busy work schedules, and high disposable incomes. People prefer consuming on-the-go food and beverages to minimize the time required for preparing food at home. Moreover, packaged food products are growing in popularity among young consumers, and they are convenient to consume and have significant nutritional value. These factors are driving the demand for sodium benzoate across the food & beverages industry.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America sodium benzoate market at a notable CAGR during the forecast period.
North America Sodium Benzoate Market Revenue and Forecast to 2028 (US$ Thousand)
North America Sodium Benzoate Market Segmentation
The North America sodium benzoate market is bifurcated into application and country. Based on application, the North America 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 North America sodium benzoate market is segmented into the US, Canada, and Mexico. Further, the US held the largest market share in 2021.
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. are among the leading companies operating in the sodium benzoate market in North America.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 17,397.64 thousand |
| Market Size by 2028 | US$ 22,793.05 thousand |
| CAGR (2021 - 2028) | 3.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Sodium Benzoate Market is valued at US$ 17,397.64 thousand in 2021, it is projected to reach US$ 22,793.05 thousand by 2028.
As per our report North America Sodium Benzoate Market, the market size is valued at US$ 17,397.64 thousand in 2021, projecting it to reach US$ 22,793.05 thousand by 2028. This translates to a CAGR of approximately 3.9% during the forecast period.
The North America 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 North America Sodium Benzoate Market report:
The North America Sodium Benzoate Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Sodium Benzoate Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Sodium Benzoate Market value chain can benefit from the information contained in a comprehensive market report.
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