Global Sodium Benzoate Market Forecast to 2030 - COVID-19 Impact and Analysis By Application (Food and Beverages, Cosmetics, Pharmaceuticals, Others); and Geography
Global Sodium Benzoate Market
Sodium Benzoate is a popular preservative which is generally used in foods. Various industries such as food, cosmetics widely use this preservative in different products. Food and cosmetics industry is largely dependent on these preservatives which are heavily used to increase the shelf life of the products and are likely to boost the sodium benzoate market globally during the forecast period from 2020 to 2030. The cheap cost and easily availability of cosmetic and chemical preservatives are making them a popular option for most of the food and cosmetic producers are also likely to drive the sodium benzoate market globally during the forecast period. The rise in use of synthetic preservatives on poultry and meat in Asia Pacific and Middle East & Africa regions is another aspect that is likely to drive the global sodium benzoate market during the forecast period.
Wide Acceptance Across Pharmaceuticals, Food and Cosmetics, and Skin Care Industry
Sodium benzoate is hugely accepted across pharmaceuticals, food and cosmetics and skin care industry. It is used to protect food items and cosmetics from periodic decay. The demand of sodium benzoate is rising with passing time. The markets are expanding beyond some of the orthodox cosmetics and food markets spread across North America and Europe region. Effects of globalization and urbanization are definitely impacting the economy and finance of Asia Pacific region and turning it into a potential hub of the food and cosmetics industry which is likely to drive the sodium benzoate market globally during the forecast period. The massive and huge growth of the consumer market in China and India is likely to offer new opportunities for the market. Rise in pharmaceutical and cosmetics market will also play a crucial role in the expansion of sodium benzoate market globally during the forecast period from 2020 to 2030. The requirement for halal cosmetics is increasing in the South East Asian and MEA markets which are likely to build a proper base for the growing preservatives market.
Cost-Effective Price for Sodium Benzoate
The sodium benzoate market is likely to offer impressive growth due to rise in applications of sodium benzoate across industries. It is also used by producers as a preservative to avoid spoilage. Acidic products such as soda, hot sauce, jellies, jams, and sauerkraut are the most general sources of sodium benzoate. Sodium benzoate is also used as a medicine for treating hyperammonemia, a rare condition that triggers excess ammonia to build up in the body. However, a wide usage which will offer new opportunities for the market. The cost-effective price of cosmetic and chemical preservatives and their easily availability make them a popular option for most food and cosmetic companies.
COVID-19 Impact on Global Sodium Benzoate Market
The COVID-19 pandemic has largely impacted globally since December 2019. According to the latest World Health Organization (WHO) report, the US, India, Russia, Brazil, Italy, France, Argentina, Spain, Colombia, the UK, and Mexico are some of the worst affected countries due to the COVID-19. The pandemic is hampering the growth of economies worldwide, and it is likely to continue in 2021. The outbreak of the covid-19 pandemic has both advantages and disadvantages in all the sectors. The outbreak disrupts various industries, such as manufacturing, construction, automotive, textiles, chemicals, cosmetics, tourism, hospitality, consumer goods, transportation, IT and telecom, pharmaceutical, and among others. This results in several obstacles in the supply chain of raw materials required for packaging, resulting in demand-supply gaps. This scenario is expected to a negative impact on the global Sodium Benzoate market.
With Corona Virus Disease 2019 (COVID-19) pandemic, the world is fighting against Covid-19 pandemic and also economic pandemic, almost impacting trillions of dollars of revenues. Our company brings a high-level insight as well as very deep insights relevant to several promising markets. The study will cover:
· Rapid shifts in top 100 companies across each sector
· Growth and decline in each sector due to COVID-19 pandemic
Global Sodium Benzoate Market Strategy
Players operating in the global Sodium Benzoate market are mainly focusing on the adoption of various strategies to expand their footprint across the world and taking the initiative for the development of efficient and advanced products.
· In 2021, Lanxess acquired Chemtura, Lanxess has declared a deal to purchase Emerald Kalama Chemical for $1.1 billion.
· In 2020, Emerald Kalama Chemical has completed registration for Kalaguard SB sodium benzoate as a new active ingredient under the U.S. EPA FIFRA (Fungicide Federal Insecticide, Fungicide and Rodenticide Act) category, making it available for use in North America for in-container control of bacteria, yeasts and molds in industrial and household products.
The global Sodium Benzoate market report offers a complete overview of the industry including both qualitative and quantitative information. It offers a complete overview and forecast of the global Sodium Benzoate market based on various segments. It also offers market size and forecast estimation from the year 2018 to 2030 with respect to four major regions North America, Europe, Asia-Pacific (APAC), Latin America & Middle East and Africa (LAMEA). The global Sodium Benzoate market by each region is further sub-segmented across respective countries and segments. The global Sodium Benzoate market report covers a complete analysis and forecast across all regions along with the current trend and opportunities happening in the region.
The report analyzes aspects that are mainly affecting the global Sodium Benzoate market from both the demand and supply side and afterward estimates market dynamics affecting the global Sodium Benzoate market globally over the forecast period i.e., drivers, restraints, opportunities, and future trends. The global Sodium Benzoate market report also offers exhaustive PEST analysis for all four regions namely; North America, Europe, APAC, LAMEA after evaluating political, economic, social, and technological factors affecting the global Sodium Benzoate market in these regions. This information can help stakeholders to make appropriate decisions before investing. The global Sodium Benzoate market report also describes Porters five forces analysis which examines the five forces that make a company competitive while helping identify its strength and weakness. The global Sodium Benzoate market analysis will also identify competition, new entrants in the market, supplier power, buyer power, and threat of substitute products and services in the global Sodium Benzoate market.
Global Sodium Benzoate Market Insights
The global Sodium Benzoate market study offers a complete overview of leading companies and their successful marketing strategies and market contribution, such as business overview, key financial information, SWOT analysis, NOISE analysis, improvement Venn diagram and strategies, recent developments such as , market expansion, partnership, merger & acquisitions, product launch, product update, and other contexts. By examining the data collected from primary and secondary methods, the global Sodium Benzoate market report offers actionable insights into future growth based on inputs from industry experts to help readers formulate effective strategies. The global Sodium Benzoate market report also covers the investment pocket analysis for various verticals with respect to the market.
Global Sodium Benzoate Market Segmentation
Global Sodium Benzoate Market by Application
· Food and Beverages
Global Sodium Benzoate Market by Geography
· North America
o Rest of Europe
· Asia-Pacific (APAC)
o South Korea
o Rest of APAC
o Latin America
o Middle East
· A.M. Food Chemical Co. Limited
· AkzoNobel N.V
· American elemnts
· Avantor inc
· Brown Chemical Co. Ltd
· Eastman Chemical Company
· FBC Industries Inc
· Foodchem International Corporation
· Jarchem Industries
· Penta Chemicals
· Rishi Chemicals
· Sigma Aldrich
· Spectrum Chemicals
· Wuhan Youji Industries Co., Ltd
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Key Questions Answered
· Several players are operating in the Sodium Benzoate market globally. Do you know who is leading the overall global Sodium Benzoate market, and what strategies have been adopted by them?
· What are the upcoming trends in the global Sodium Benzoate market? What impact would these trends make in the coming years for the global Sodium Benzoate market?
· Which is the most lucrative market for Sodium Benzoate market?
Key Benefits For Stakeholders
· This study presents the analytical description of the global Sodium Benzoate market analysis along with the current trends and future estimations to describe coming up investment pockets
· The complete global Sodium Benzoate market opportunity is resolute by knowing profitable trends to gain a stronger foothold
· The report describes insights associated with key drivers, restraints, and opportunities of the global Sodium Benzoate market with thorough impact analysis
· The current global Sodium Benzoate market is quantitatively analyzed from 2018 to 2030 to focus on the monetary ability
· PEST analysis defines the potency of the consumers and suppliers in the Sodium Benzoate industry
· The Porters five forces analysis examines the five forces that makes a company competitive while helping identify its strength and weakness. The analysis will also identify competition, new entrants in the market, supplier power, buyer power, and threat of substitute products and services in the global Sodium Benzoate market
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