The sodium bicarbonate market in Asia Pacific is expected to grow from US$ 684.58 million in 2022 to US$ 906.99 million by 2028. It is estimated to grow at a CAGR of 4.8% from 2022 to 2028.
The high demand for sodium bicarbonate in the animal feed industry is a major factor driving the Asia Pacific sodium bicarbonate market. The poultry sector is registering a continual rise across the world. An increase in poultry production is mainly attributed to the rising demand for poultry meat and eggs. The upswing in poultry production is catering substantially to the bolstering need for the APAC population. Further, Australia has a developed and high-value animal husbandry sector, with cattle, sheep, and fish farming. This can be attributed to the increasing demand for animal products, such as meat, cheese, and milk powder, in the country.
According to the Poultry Hub Australia, there are currently more than 800 commercial meat chicken growers in Australia. According to the Australian Bureau of Statistics 2015/16 report, over 1267658 tons (1150000 tonnes) of chicken meat is produced annually in Australia, which is almost entirely consumed within the domestic market. Consumers perceive chicken meat as one of the most popular protein sources. As per the Australian Bureau of Agricultural and Resource Economics and Sciences, New South Wales was the largest producing state, accounting for 32% of total national poultry production in 2019-20. Further, according to the Queensland Farmers' Federation, the poultry industry remains one of the fastest growing in Queensland, and chicken production accounts for nearly 21% of overall national production in the state.
Egg consumption has also been growing in various countries. Dairy farms have been increasing the number of milking cows. The aquaculture industry is the largest raw material supplier for the seafood industry of Australia. Salmon, trout, prawns, and barramundi are some significant species farmed in the aquaculture industry in Australia.
With a growing demand for different animal products, the agricultural sector is focusing on scaling up the rearing of animals. With the growth of the dairy, chicken meat, and aquaculture industries, the need for animal feed is also on the rise. This is creating demand for sodium bicarbonate, as it is used as animal feed material. Feed-grade sodium bicarbonate is used in preparing nutrition mixes for poultry, livestock, and aqua produce. Sodium bicarbonate is an important source of sodium for livestock and poultry, and it enriches animals' feed with sodium.
Vendors can attract new customers and expand their footprints in emerging markets with new features and technologies. This factor is likely to drive the Asia Pacific sodium bicarbonate market at a promising CAGR during the forecast period.
The high demand for sodium bicarbonate in the animal feed industry is a major factor driving the Asia Pacific sodium bicarbonate market. The poultry sector is registering a continual rise across the world. An increase in poultry production is mainly attributed to the rising demand for poultry meat and eggs. The upswing in poultry production is catering substantially to the bolstering need for the APAC population. Further, Australia has a developed and high-value animal husbandry sector, with cattle, sheep, and fish farming. This can be attributed to the increasing demand for animal products, such as meat, cheese, and milk powder, in the country.
According to the Poultry Hub Australia, there are currently more than 800 commercial meat chicken growers in Australia. According to the Australian Bureau of Statistics 2015/16 report, over 1267658 tons (1150000 tonnes) of chicken meat is produced annually in Australia, which is almost entirely consumed within the domestic market. Consumers perceive chicken meat as one of the most popular protein sources. As per the Australian Bureau of Agricultural and Resource Economics and Sciences, New South Wales was the largest producing state, accounting for 32% of total national poultry production in 2019-20. Further, according to the Queensland Farmers' Federation, the poultry industry remains one of the fastest growing in Queensland, and chicken production accounts for nearly 21% of overall national production in the state.
Egg consumption has also been growing in various countries. Dairy farms have been increasing the number of milking cows. The aquaculture industry is the largest raw material supplier for the seafood industry of Australia. Salmon, trout, prawns, and barramundi are some significant species farmed in the aquaculture industry in Australia.
With a growing demand for different animal products, the agricultural sector is focusing on scaling up the rearing of animals. With the growth of the dairy, chicken meat, and aquaculture industries, the need for animal feed is also on the rise. This is creating demand for sodium bicarbonate, as it is used as animal feed material. Feed-grade sodium bicarbonate is used in preparing nutrition mixes for poultry, livestock, and aqua produce. Sodium bicarbonate is an important source of sodium for livestock and poultry, and it enriches animals' feed with sodium.
Vendors can attract new customers and expand their footprints in emerging markets with new features and technologies. This factor is likely to drive the Asia Pacific sodium bicarbonate market at a promising CAGR during the forecast period.
Asia Pacific Sodium Bicarbonate Market Segmentation
The Asia Pacific sodium bicarbonate market is segmented by grade, form, end user, and country.- Based on grade, the market is segmented into food grade, pharmaceutical grade, feed grade, and technical grade and others. The technical grade and others segment has been holding the largest market share in 2022.
- Based on form, the market is segmented into powder and liquid. The powder segment is holding a larger market share in 2022.
- Based on end user, the market is segmented into food & beverages, pharmaceutical, agriculture, chemical, cosmetic & personal care, textile & leather, homecare, and others. The food & beverages segment is holding the largest market share in 2022.
- Based on country, the regional market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China is holding the largest market share in 2022.
Table of Contents
1. Introduction
3. Research Methodology
4. APAC Sodium Bicarbonate Market Landscape
5. APAC Sodium Bicarbonate Market - Key Market Dynamics
6. Sodium Bicarbonate Market - APAC Market Analysis
7. APAC Sodium Bicarbonate Market Analysis - By Grade
8. APAC Sodium Bicarbonate Market Analysis - By Form
9. APAC Sodium Bicarbonate Market Analysis - By End User
10. APAC Sodium Bicarbonate Market - Country Analysis
11. Company Profiles
12. Appendix
Companies Mentioned
- AGC Inc.
- All Chemical Manufacturing & Consultancy Pty Ltd
- Church & Dwight, Inc.
- Ciech S.A.
- GHCL Limited
- Pon Pure Chemicals Group
- Si?ecam
- Solvay S.A.
- Tosoh Corporation
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | September 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 684.58 Million |
| Forecasted Market Value ( USD | $ 906.99 Million |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Asia Pacific |
| No. of Companies Mentioned | 9 |
