The sodium benzoate market in MEA is expected to grow from US$ 4,472.03 thousand in 2021 to US$ 5,429.56 thousand by 2028; it is estimated to grow at a CAGR of 2.8% from 2021 to 2028
The surging trend of consuming packaged food and beverages is the major factor driving the growth of the MEA sodium benzoate market. The growing consumption of packaged food and beverages is attributed to innovations in processing techniques for extending the shelf life of food products. Changes in food consumption patterns led to an increase in the working population, which is fueling the consumption of packaged food and beverage products. Moreover, due to the ease of purchase, easy availability and transportation, and the ready-to-eat feature, packaged food products are becoming increasingly popular, particularly among the urban population. Packaged food products have grown in popularity in recent years due to their hygienic nature. They are convenient to use and carry a reduced risk of tampering and adulteration.
Furthermore, since the onset of the COVID-19 pandemic, people have been more concerned about their health and consumption patterns. They mostly prefer packaged food and beverage products since they do not come in contact with another person or retailer. Thus, the increasing trend of packaged food and beverage consumption is expected to boost the sodium benzoate market growth during the forecast period.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA sodium benzoate market at a notable CAGR during the forecast period.
MEA Sodium Benzoate (US$ Thousand)
A.M FOOD CHEMICAL CO., LIMITED; Akema S.r.l.; Eastman Chemical Company; Jarchem Innovative Ingredients LLC; LANXESS; MERCK KGaA; and Zancheng Life Sciences Ltd. are among the leading companies operating in the sodium benzoate market in the MEA.
The surging trend of consuming packaged food and beverages is the major factor driving the growth of the MEA sodium benzoate market. The growing consumption of packaged food and beverages is attributed to innovations in processing techniques for extending the shelf life of food products. Changes in food consumption patterns led to an increase in the working population, which is fueling the consumption of packaged food and beverage products. Moreover, due to the ease of purchase, easy availability and transportation, and the ready-to-eat feature, packaged food products are becoming increasingly popular, particularly among the urban population. Packaged food products have grown in popularity in recent years due to their hygienic nature. They are convenient to use and carry a reduced risk of tampering and adulteration.
Furthermore, since the onset of the COVID-19 pandemic, people have been more concerned about their health and consumption patterns. They mostly prefer packaged food and beverage products since they do not come in contact with another person or retailer. Thus, the increasing trend of packaged food and beverage consumption is expected to boost the sodium benzoate market growth during the forecast period.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA sodium benzoate market at a notable CAGR during the forecast period.
MEA Sodium Benzoate (US$ Thousand)
MEA Sodium Benzoate Market Segmentation
The MEA sodium benzoate market is bifurcated into application and country. Based on application, the MEA 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 MEA sodium benzoate market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of MEA. Further, the Rest of MEA held the largest market share in 2021.A.M FOOD CHEMICAL CO., LIMITED; Akema S.r.l.; Eastman Chemical Company; Jarchem Innovative Ingredients LLC; LANXESS; MERCK KGaA; and Zancheng Life Sciences Ltd. are among the leading companies operating in the sodium benzoate market in the MEA.
Table of Contents
1. Introduction1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection
3.2.2 Primary Interviews
3.2.3 Hypothesis Formulation
3.2.4 Macro-economic Factor Analysis
3.2.5 Developing Base Number
3.2.6 Data Triangulation
3.2.7 Country Level Data
4. MEA Sodium Benzoate Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers:
4.2.2 Bargaining Power of Buyers:
4.2.3 Threat of New Entrants:
4.2.4 Competitive Rivalry:
4.2.5 Threat of Substitutes:
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. MEA Sodium Benzoate Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Significant Demand for Sodium Benzoate in Food & Beverages Industry
5.1.2 Increasing Need for Sodium Benzoate in Various End-Use Industries
5.2 Market Restraints
5.2.1 Growing Safety Concerns Regarding Sodium Benzoate
5.3 Market Opportunities
5.3.1 Cosmetics & Personal Care Sector Witnessing Growth
5.4 Future Trends
5.4.1 Surging Trend of Consuming Packaged Food and Beverages
5.5 Impact Analysis of Drivers and Restraints
6. Sodium Benzoate Market - MEA Analysis
6.1 MEA Sodium Benzoate Market Overview
6.2 MEA Sodium Benzoate Market -Revenue and Forecast to 2028
7. MEA Sodium Benzoate Market Analysis - By Application
7.1 Overview
7.2 MEA Sodium Benzoate Market Breakdown, by Application, 2020 and 2028
7.3 Food and Beverage
7.3.1 Overview
7.3.2 Food and Beverage: MEA Sodium Benzoate Market - Revenue and Forecast to 2028 (US$ Thousand)
7.3.3 Food and Beverage: MEA Sodium Benzoate Market -Volume and Forecast to 2028 (Tons)
7.4 Pharmaceuticals
7.4.1 Overview
7.4.2 Pharmaceuticals: MEA Sodium Benzoate Market - Revenue and Forecast to 2028 (US$ Thousand)
7.4.3 Pharmaceuticals: MEA Sodium Benzoate Market -Volume and Forecast to 2028 (Tons)
7.5 Cosmetics
7.5.1 Overview
7.5.2 Cosmetics: Sodium Benzoate Market - Revenue and Forecast to 2028 (US$ Thousand)
7.5.3 Cosmetics: Sodium Benzoate Market -Volume and Forecast to 2028 (Tons)
7.6 Agriculture
7.6.1 Overview
7.6.2 Agriculture: MEA Sodium Benzoate Market - Revenue and Forecast to 2028 (US$ Thousand)
7.6.3 Agriculture: MEA Sodium Benzoate Market -Volume and Forecast to 2028 (Tons)
7.7 Others
7.7.1 Overview
7.7.2 Others: MEA Sodium Benzoate Market - Revenue and Forecast to 2028 (US$ Thousand)
7.7.3 Others: MEA Sodium Benzoate Market -Volume and Forecast to 2028 (Tons)
8. MEA Sodium Benzoate Market - Country Analysis
8.1 Overview
8.1.1 MEA: Sodium Benzoate Market, by Key Country
8.1.1.1 South Africa: Sodium Benzoate Market-Analysis and Forecast to 2028 (US$ Thousand)
8.1.1.1.1 South Africa: Sodium Benzoate Market, by Application
8.1.1.2 Saudi Arabia: Sodium Benzoate Market-Analysis and Forecast to 2028 (US$ Thousand)
8.1.1.2.1 Saudi Arabia: Sodium Benzoate Market, by Application
8.1.1.3 UAE: Sodium Benzoate Market-Analysis and Forecast to 2028 (US$ Thousand)
8.1.1.3.1 UAE: Sodium Benzoate Market, by Application
8.1.1.4 Rest of MEA: Sodium Benzoate Market-Revenue and Forecast to 2028 (US$ Thousand)
8.1.1.4.1 Rest of MEA: Sodium Benzoate Market, by Application
9. Industry Landscape
9.1 Overview
9.2 Market Initiative
9.3 New Product Development
9.4 Merger and Acquisition
10. Company Profiles
10.1 Eastman Chemical Company
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 A.M FOOD CHEMICAL CO., LIMITED
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 Jarchem Innovative Ingredients LLC
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 LANXESS
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 MERCK KGaA
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 Akema S.R.L.
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 Zancheng Life Sciences Ltd.
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
11. Appendix
11.1 About the Publisher
11.2 Glossary of Terms
List of Figures
Figure 1. MEA Sodium Benzoate Market Segmentation
Figure 2. MEA Sodium Benzoate Market Segmentation - By Country
Figure 3. MEA Sodium Benzoate Market Overview
Figure 4. MEA Sodium Benzoate Market, By Application
Figure 5. MEA Sodium Benzoate Market, By Country
Figure 6. Porter's Five Forces Analysis
Figure 7. Ecosystem Chain: Sodium Benzoate Market
Figure 8. Expert Opinion
Figure 9. MEA Sodium Benzoate Market Impact Analysis of Drivers and Restraints
Figure 10. MEA: Sodium Benzoate Market - Revenue and Forecast to 2028 (US$ Thousand)
Figure 11. MEA Sodium Benzoate Market Breakdown, by Application, 2020 and 2028
Figure 12. MEA Food and Beverage: MEA Sodium Benzoate Market - Revenue and Forecast to 2028 (US$ Thousand)
Figure 13. MEA Food and Beverage: MEA Sodium Benzoate Market -Volume and Forecast to 2028 (Tons)
Figure 14. MEA Pharmaceuticals: MEA Sodium Benzoate Market - Revenue and Forecast to 2028 (US$ Thousand)
Figure 15. MEA Pharmaceuticals: MEA Sodium Benzoate Market -Volume and Forecast to 2028 (Tons)
Figure 16. MEA Cosmetics: MEA Sodium Benzoate Market - Revenue and Forecast to 2028 (US$ Thousand)
Figure 17. MEA Cosmetics: MEA Sodium Benzoate Market -Volume and Forecast to 2028 (Tons)
Figure 18. MEA Agriculture: MEA Sodium Benzoate Market - Revenue and Forecast to 2028 (US$ Thousand)
Figure 19. MEA Agriculture: MEA Sodium Benzoate Market -Volume and Forecast to 2028 (Tons)
Figure 20. MEA Others: MEA Sodium Benzoate Market - Revenue and Forecast to 2028 (US$ Thousand)
Figure 21. MEA Others: MEA Sodium Benzoate Market -Volume and Forecast to 2028 (Tons)
Figure 22. MEA: Sodium Benzoate Market - Revenue (2020) (US$ Thousand)
Figure 23. MEA: Sodium Benzoate Market Revenue Share, by Key Country (2020 and 2028)
Figure 24. South Africa: Sodium Benzoate Market-Revenue and Forecast to 2028 (US$ Thousand)
Figure 25. South Africa: Sodium Benzoate Market-Volume and Forecast to 2028 (Tons)
Figure 26. Saudi Arabia: Sodium Benzoate Market-Revenue and Forecast to 2028 (US$ Thousand)
Figure 27. Saudi Arabia: Sodium Benzoate Market-Volume and Forecast to 2028 (Tons)
Figure 28. UAE: Sodium Benzoate Market-Revenue and Forecast to 2028 (US$ Thousand)
Figure 29. UAE: Sodium Benzoate Market-Volume and Forecast to 2028 (Tons)
Figure 30. Rest of MEA: Sodium Benzoate Market-Revenue and Forecast to 2028 (US$ Thousand)
Figure 31. Rest of MEA: Sodium Benzoate Market-Volume and Forecast to 2028 (Tons)List of Tables
Table 1. MEA Sodium Benzoate Market -Revenue and Forecast to 2028 (US$ Thousand)
Table 2. MEA Sodium Benzoate Market, by Application - Revenue and Forecast to 2028 (US$ Thousand)
Table 3. MEA Sodium Benzoate Market, by Application - Volume and Forecast to 2028 (Tons)
Table 4. South Africa: Sodium Benzoate Market, by Application - Revenue and Forecast to 2028 (US$ Thousand)
Table 5. South Africa: Sodium Benzoate Market, by Application - Volume and Forecast to 2028 (Tons)
Table 6. Saudi Arabia: Sodium Benzoate Market, by Application - Revenue and Forecast to 2028 (US$ Thousand)
Table 7. Saudi Arabia: Sodium Benzoate Market, by Application - Volume and Forecast to 2028 (Tons)
Table 8. UAE: Sodium Benzoate Market, by Application - Revenue and Forecast to 2028 (US$ Thousand)
Table 9. UAE: Sodium Benzoate Market, by Application - Volume and Forecast to 2028 (Tons)
Table 10. Rest of MEA Sodium Benzoate Market, by Application - Revenue and Forecast to 2028 (US$ Thousand)
Table 11. Rest of MEA Sodium Benzoate Market, by Application - Volume and Forecast to 2028 (Tons)
Table 12. Glossary of Terms, MEA Sodium Benzoate Market
Companies Mentioned
- A.M FOOD CHEMICAL CO., LIMITED
- Akema S.r.l.
- Eastman Chemical Company
- Jarchem Innovative Ingredients LLC
- LANXESS
- MERCK KGaA
- Zancheng Life Sciences Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 98 |
| Published | August 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 4472.03 Million |
| Forecasted Market Value ( USD | $ 5429.56 Million |
| Compound Annual Growth Rate | 2.8% |
| Regions Covered | Africa, Middle East |
| No. of Companies Mentioned | 7 |
