Trends in Global Sodium Bicarbonate Market
The Global Sodium Bicarbonate Market is estimated to reach a market size of US$2.053 billion by the end of 2026. The market was worth US$1.464 billion in 2019 and is anticipated to grow at a CAGR of 4.95%.
Sodium Bicarbonate is commonly known as baking soda or sodium hydrogen carbonate. Sodium Bicarbonate is available as crystalline powder or granules and is generally odourless. Moreover, it has a cooling and slightly salty taste also is moderately soluble in water. Moreover, the growing demand for animal feed in farm animals and other livestock is expected to drive growth in the sodium bicarbonate market. Besides, rising demand for meat globally is further estimated to augment growth in the global sodium bicarbonate market. Additionally, supportive government policies and regulations regarding the application of the sodium bicarbonate market are expected to provide ample opportunities.
Furthermore, rising demand for baking soda in the bakery segment and increasing consumption of detergent are expected to propel growth in the market over the forecasted period. However, growing environmental concerns regarding the use of sodium bicarbonate and pertinent health hazards are anticipated to hinder market growth over the forecasted period. To sustain the business, several leading companies are taking environment-friendly measures that support green operations. For instance, Solvay recently announced the acquisition of a manufacturing facility located in Green River, Wyoming. The plant aims to reclaim and transform sodium carbonate waste streams into marketable grade sodium bicarbonate using the company's latest SOLVAir Select 300 product line. The plant focuses on providing a significant environmental benefit by reclaiming waste that otherwise would be sent to a detention pond.
Sodium Bicarbonate has a wide variety of applications across industries including pharmaceutical, food and beverage, animal feed, chemical, cleaning agent and flue gas treatment among others. Sodium bicarbonate serves as a neutralizing agent, provides a source of CO2 and acts as a catalyst in multiple processes. Sodium bicarbonate is extensively used in fire extinguishers to smother flames. Besides, dry fire extinguishers generally include fine powder sodium bicarbonate. Furthermore, sodium bicarbonate is employed as an integral component in flue gas treatment processes.
Sodium bicarbonate serves as one of the most efficient dry sorbents in the flue gas treatment process. Whereas, Sodium bicarbonate is used in the chemical industry to chemically treat drilling mud upon contamination with either calcium ions from cement or lime. Furthermore, sodium bicarbonate is used in the animal feed industry as an acidity regulator. It serves as supplementary feeds for cattle as it aids in improving digestion and heightens milk fat percentage and improves milk yield. Furthermore, sodium bicarbonate is used in pharmaceutical applications as an antacid to relieve heartburn and acid indigestion. Besides, sodium bicarbonate also has application in the cosmetic and personal care industry.
Prominent market players in the sodium bicarbonate market include Solvay, Tata Chemicals Ltd., Pfizer Inc, Genesis Energy, LP, Tosoh Corporation, Natrium Products Inc., Tokuyama Corporation and Trade House Bashkhim among others.
The Surge in Animal Feed and Food & Beverage is Estimated to Significantly Contribute to the Growth of the Security Printing Market
Main drivers in sodium bicarbonate include the rise in the use of animal nutrition and a surge in demand in the food industry. Sodium bicarbonate is widely used as an acidity regulator and the surge in demand in the animal feed industry is leading to augmenting market growth in the global sodium bicarbonate market. Furthermore, Sodium bicarbonate is widely used as a dairy cow feed supplement, whereas, the natural feed grade sodium bicarbonate aids in stabilizing rumen pH and reduces acidity. Also, sodium bicarbonate is employed as a partial replacement for salt in poultry rations. Besides, sodium bicarbonate also serves as an alternative source for sodium that assists with litter control and a healthier living environment. The varied applicability of sodium bicarbonate in various animal feed functions is expected to further augment growth in the market.
Whereas in the food and beverage industry, sodium bicarbonate serves as an integral multipurpose ingredient. It is widely used as a levelling agent and provides volume to bakery products such as cakes, wafers, pastries and crackers among others. Moreover, changing consumer taste and standards are forcing food and beverage industry companies to focus on various novel innovative bakery solutions. The growth in the food and beverage industry is thereby burgeoning growth in the global sodium bicarbonate market.
The Asia Pacific Region Is Projected to Hold a Notable Share of the Market
The Global Sodium Bicarbonate market is fragmented by grade and form; companies have instilled various departments of sodium bicarbonate production for the manufacturing of various product segments across various business verticals.
Prominent market players around the world have adopted various business strategies to sustain, grow and develop in the global sodium bicarbonate market. Furthermore, companies have undertaken various business strategies such as partnerships, acquisitions, mergers and other related commercial agreements and have made innovative technological advancements towards sustainable application of resources. Through such collaborative agreements and technological advancements, conglomerates and other allied government agencies in the Asia Pacific region have resulted in significant development of the market on the whole.
The Asia Pacific region holds a significant market share and is projected to grow at a decent CAGR over the forecasted period. The major driving factor is the growing population and large-scale application of sodium bicarbonate across industries in countries like China, India which is estimated to propel demand in the market. Furthermore, growing demand for products such as detergents & soaps, cosmetic personal care products and the availability of chemical raw materials is driving demand in the sodium bicarbonate market in this region.
Moreover, in Europe, countries such as Russia, Germany and UK are exhibiting strong demand for liquid detergents, thereby augmenting the demand in the sodium bicarbonate market. In recent market developments, Tata Chemicals Europe announced its plan to build a new plant in Winnington. Furthermore, the company recently announced a new product line, Ecokarb, which is set to be the world’s first sodium bicarbonate made with net-zero carbon emission is going to be used in the pharmaceutical industry.
Similarly, CIECH Soda Deutschland recently received pharmaceutical market authentication for attesting the highest quality sodium bicarbonate production in their German factory. Similarly in the American market, demand for cleaning agents and detergents have witnessed an upward trend in countries like the USA, Brazil, Mexico, thereby propelling growth in the sodium bicarbonate market. For instance, ?i?ecam Group announced its plans to co-invest in the US with the Ciner group for the widespread production of natural soda.
