ESOMAR- certified firm Future Market Insight (FMI) has recently published a report on the global Sodium bicarbonate market for the forecast period of 2021-2031. According to the report, the market is expected to flourish at a rising CAGR of 3.9% during forecast period.
There is substantial potential for high quality pharmaceutical and food grade sodium bicarbonate. Increasing demand from end-use industries such as chemical, pharmaceutical, and food beverage market will create lucrative opportunities for the players.
Sodium bicarbonate’s properties and characteristics such as odour neutralizing, cleaning, grease cutting, and moderate abrasiveness makes it ideal for numerous end users. It has niche application in the production of fire extinguishers and animal feed, contributing more to the revenue.
“Demand for high quality and cost-efficient sodium bicarbonate is expected to rise around the world. In order to capitalize on existing opportunities, market players are likely to focus on various expansion strategies. Some of them are likely to focus on strategic collaborations to gain competitive edge,” says the FMI analyst
Some of the leading players operating in the market are:
- Solvay SA
- Merck KGaA
- Nirma ltd.
- Tata Chemicals Ltd.
- GHCL Ltd.
- Ciech SA
- DCW Ltd.
- Seqens group
- Tosoh Corporation
- Hawkins, Inc.
- Vitro
- Church Dwight Co., Inc.
Who is Winning?
Key players in the market are focusing on generating profit by exploring potential applications. Players are expanding their geographical boundaries to expand consumer base.
- In March 2021, Solvay SA announced to divest its soda ash and derivatives business into a separate legal entity so that it can maximize cash flow generation and improve company’s strategic flexibility.
- In June 2020, Tata Chemicals announced its business reorganization under verticals of material science, energy science, agri science, and nutritional science to focus on lucrative chemistry and science segments.
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https://www.futuremarketinsights.com/reports/sample/rep-gb-3819
More Insight on the Global Sodium Bicarbonate Market
By Grade Type
- Pharmaceutical Grade
- Technical Grade
- Food Grade
- Feed Grade
By Form
- Powder
- Pellets
- Slurry
- Liquid
By End Use
- Processed Food
- Pharmaceuticals
- Personal Care Products
- Chemicals
- Agrochemicals Nutrients
- Detergent
- Fire Extinguisher
- Leather Dyeing
- Others
In the latest study, Future Market Insights gives a detailed insight on the sodium bicarbonate market, providing historical data for the period of 2016 to 2020 and forecast statistics for the period of 2021 to 2031. To understand the global sodium bicarbonate market potential, its growth, and scope, the market is segmented on the basis of various parameters
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