The sodium benzoate market size has grown strongly in recent years. It will grow from $0.61 billion in 2023 to $0.64 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The historical growth in the utilization of sodium benzoate during the past period can be attributed to several contributing factors. These include the demands for stability and extended shelf life of products, the expansion and evolution of the beverage sector, the globalization trends witnessed within the food industry, shifts in consumer lifestyles influencing preferences, and the necessary regulatory approvals to meet industry standards and guidelines. These combined factors played a significant role in driving the increased usage of sodium benzoate.
The sodium benzoate market size is expected to see strong growth in the next few years. It will grow to $0.8 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forthcoming period is expected to be fueled by various factors such as the rise in demand for organic preservatives, particularly in developing regions, the increasing popularity of clean label trends, regulatory shifts influencing product formulations, and the expansion of the beverage industry. Key trends projected for this period encompass initiatives aimed at consumer education regarding food safety, the growing market for allergen-free products, an increased emphasis on transparency in product labeling, innovations in packaging methodologies, and the substitution of sodium benzoate in personal care products as part of industry-wide changes.
The sodium benzoate market is anticipated to experience growth driven by heightened demand from the cosmetics industry. Cosmetics, encompassing health and beauty products, utilize sodium benzoate as a preservative to inhibit bacterial and fungal growth. Notably, the global cosmetics sector, valued at $228 billion in 2021 according to Loreal, a leading French cosmetic manufacturer, underscores the substantial market opportunity. The surge in demand from the cosmetics industry is a pivotal factor propelling the sodium benzoate market's expansion.
Anticipated growth in the sodium benzoate market is attributed to the escalating demand within the food and beverage industry. This sector, encompassing the processing, packaging, and distribution of raw food, extensively relies on sodium benzoate as a preservative due to its efficacy against bacteria, mold, and yeast. In 2023, the Food & Drink Federation reported that Scotland registered 1,185 companies involved in food and beverage manufacturing. The sector also witnessed a 31% increase in food and beverage exports, reaching $10.18 billion (£8.1 billion) in 2022. With food and beverages turnover accounting for $12.5 billion (£10.3 billion) in the same year, the rising demand from end users, particularly the food and beverage industry, is a key driver of the sodium benzoate market's growth.
A noteworthy trend shaping the sodium benzoate market is product innovation, embraced by major industry players to maintain their competitive edge. Companies, recognizing the importance of innovation, focus on introducing novel products. For instance, in January 2021, Emerald Kalama, a US-based chemicals company, unveiled Kalama Sodium Benzoate Liquid. This innovative solution incorporates high-quality sodium benzoate NF/FCC into a water-based formulation, enhancing processing efficiency. The liquid serves as an effective preservative, inhibiting bacteria, yeast, and mold in various products, even under ambient or elevated process temperatures. Product innovation stands as a key strategy employed by industry leaders to stay ahead in the dynamic sodium benzoate market.
Leading companies in the sodium benzoate market are strategically collaborating to introduce innovative products. Strategic partnerships involve leveraging the strengths and resources of each entity to achieve mutual benefits and success. An illustrative example is the partnership between Fosun Pharma USA Inc., the US-based subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd, a Chinese pharmaceutical company, and MAIA Pharmaceuticals, Inc., a New Jersey-based specialty pharmaceutical company. In September 2022, they jointly announced the commercialization of the FDA-approved 20ml Sodium Phenylacetate and Sodium Benzoate (SPSB) liquid product, representing a significant advancement in providing critical medicinal medication.
In August 2021, LANXESS, a Germany-based cosmetics and personal care product manufacturer, made a strategic move by acquiring Emerald Kalama for $1.04 billion (EUR 870 million). Emerald Kalama, a US-based chemicals company specializing in various forms of Sodium benzoate, became a part of LANXESS through this acquisition. The integration of both companies resulted in the formation of a new Flavors and Fragrances business unit within LANXESS. This strategic acquisition strengthens LANXESS's position in the market and enhances its capabilities in producing and delivering sodium benzoate for diverse applications.
Major companies operating in the sodium benzoate market report are Foodchem International Corporation, A.M. Food Chemical Co.Limited, Brown Chemical Co.Inc., Wuhan Youji Industry Company Limited, Jarchem Industries Inc., FBC Industries Inc., Archer Daniels Midland Company, Akzo Nobel N.V., Spectrum Chemicals, DuPont de Nemours Company, Tengzhou Tenglong Chemical Co. Ltd., Cellmark USA LLC, Ganesh Benzoplast Limited, Vizag Chemicals, Krishna Chemicals, Eastman Chemical Company, MERCK KGaA, LANXESS, Akema S.r.l., Zancheng Life Sciences Ltd., Reagents, Charkit Chemical Corp, Tulstar Products Inc., Shandong Tong Tai Wei Run, Vertellus, Tokyo Chemical Industry Co. Ltd., Macco Organiques Inc., W. Ulrich GmbH , COFERMIN CHEMICALS GMBH & CO. KG , Wuhan Biet Co. Ltd, Atul Limited.
Asia-Pacific was the largest region in the sodium benzoate market in 2023. The regions covered in the sodium benzoate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the sodium benzoate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary classifications of sodium benzoate include industrial grade, food grade, and pharmaceutical grade. Industrial-grade variants, designed for industrial use, possess resilience to harsher conditions compared to those intended for consumer applications. Available in diverse forms such as powder, granules, flakes, and more, sodium benzoate is distributed through multiple channels including online and offline retailers. It finds application across various sectors for functions such as antifungal and antimicrobial properties, as well as serving as rust and corrosion inhibitors, preservatives, among other uses.
The sodium benzoate market research report is one of a series of new reports that provides sodium benzoate market statistics, including sodium benzoate industry global market size, regional shares, competitors with a sodium benzoate market share, detailed sodium benzoate market segments, market trends, and opportunities, and any further data you may need to thrive in the sodium benzoate industry. This sodium benzoate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The sodium benzoate market size is expected to see strong growth in the next few years. It will grow to $0.8 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forthcoming period is expected to be fueled by various factors such as the rise in demand for organic preservatives, particularly in developing regions, the increasing popularity of clean label trends, regulatory shifts influencing product formulations, and the expansion of the beverage industry. Key trends projected for this period encompass initiatives aimed at consumer education regarding food safety, the growing market for allergen-free products, an increased emphasis on transparency in product labeling, innovations in packaging methodologies, and the substitution of sodium benzoate in personal care products as part of industry-wide changes.
The sodium benzoate market is anticipated to experience growth driven by heightened demand from the cosmetics industry. Cosmetics, encompassing health and beauty products, utilize sodium benzoate as a preservative to inhibit bacterial and fungal growth. Notably, the global cosmetics sector, valued at $228 billion in 2021 according to Loreal, a leading French cosmetic manufacturer, underscores the substantial market opportunity. The surge in demand from the cosmetics industry is a pivotal factor propelling the sodium benzoate market's expansion.
Anticipated growth in the sodium benzoate market is attributed to the escalating demand within the food and beverage industry. This sector, encompassing the processing, packaging, and distribution of raw food, extensively relies on sodium benzoate as a preservative due to its efficacy against bacteria, mold, and yeast. In 2023, the Food & Drink Federation reported that Scotland registered 1,185 companies involved in food and beverage manufacturing. The sector also witnessed a 31% increase in food and beverage exports, reaching $10.18 billion (£8.1 billion) in 2022. With food and beverages turnover accounting for $12.5 billion (£10.3 billion) in the same year, the rising demand from end users, particularly the food and beverage industry, is a key driver of the sodium benzoate market's growth.
A noteworthy trend shaping the sodium benzoate market is product innovation, embraced by major industry players to maintain their competitive edge. Companies, recognizing the importance of innovation, focus on introducing novel products. For instance, in January 2021, Emerald Kalama, a US-based chemicals company, unveiled Kalama Sodium Benzoate Liquid. This innovative solution incorporates high-quality sodium benzoate NF/FCC into a water-based formulation, enhancing processing efficiency. The liquid serves as an effective preservative, inhibiting bacteria, yeast, and mold in various products, even under ambient or elevated process temperatures. Product innovation stands as a key strategy employed by industry leaders to stay ahead in the dynamic sodium benzoate market.
Leading companies in the sodium benzoate market are strategically collaborating to introduce innovative products. Strategic partnerships involve leveraging the strengths and resources of each entity to achieve mutual benefits and success. An illustrative example is the partnership between Fosun Pharma USA Inc., the US-based subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd, a Chinese pharmaceutical company, and MAIA Pharmaceuticals, Inc., a New Jersey-based specialty pharmaceutical company. In September 2022, they jointly announced the commercialization of the FDA-approved 20ml Sodium Phenylacetate and Sodium Benzoate (SPSB) liquid product, representing a significant advancement in providing critical medicinal medication.
In August 2021, LANXESS, a Germany-based cosmetics and personal care product manufacturer, made a strategic move by acquiring Emerald Kalama for $1.04 billion (EUR 870 million). Emerald Kalama, a US-based chemicals company specializing in various forms of Sodium benzoate, became a part of LANXESS through this acquisition. The integration of both companies resulted in the formation of a new Flavors and Fragrances business unit within LANXESS. This strategic acquisition strengthens LANXESS's position in the market and enhances its capabilities in producing and delivering sodium benzoate for diverse applications.
Major companies operating in the sodium benzoate market report are Foodchem International Corporation, A.M. Food Chemical Co.Limited, Brown Chemical Co.Inc., Wuhan Youji Industry Company Limited, Jarchem Industries Inc., FBC Industries Inc., Archer Daniels Midland Company, Akzo Nobel N.V., Spectrum Chemicals, DuPont de Nemours Company, Tengzhou Tenglong Chemical Co. Ltd., Cellmark USA LLC, Ganesh Benzoplast Limited, Vizag Chemicals, Krishna Chemicals, Eastman Chemical Company, MERCK KGaA, LANXESS, Akema S.r.l., Zancheng Life Sciences Ltd., Reagents, Charkit Chemical Corp, Tulstar Products Inc., Shandong Tong Tai Wei Run, Vertellus, Tokyo Chemical Industry Co. Ltd., Macco Organiques Inc., W. Ulrich GmbH , COFERMIN CHEMICALS GMBH & CO. KG , Wuhan Biet Co. Ltd, Atul Limited.
Asia-Pacific was the largest region in the sodium benzoate market in 2023. The regions covered in the sodium benzoate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the sodium benzoate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary classifications of sodium benzoate include industrial grade, food grade, and pharmaceutical grade. Industrial-grade variants, designed for industrial use, possess resilience to harsher conditions compared to those intended for consumer applications. Available in diverse forms such as powder, granules, flakes, and more, sodium benzoate is distributed through multiple channels including online and offline retailers. It finds application across various sectors for functions such as antifungal and antimicrobial properties, as well as serving as rust and corrosion inhibitors, preservatives, among other uses.
The sodium benzoate market research report is one of a series of new reports that provides sodium benzoate market statistics, including sodium benzoate industry global market size, regional shares, competitors with a sodium benzoate market share, detailed sodium benzoate market segments, market trends, and opportunities, and any further data you may need to thrive in the sodium benzoate industry. This sodium benzoate market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Sodium Benzoate Market Characteristics3. Sodium Benzoate Market Trends and Strategies31. Global Sodium Benzoate Market Competitive Benchmarking32. Global Sodium Benzoate Market Competitive Dashboard33. Key Mergers and Acquisitions in the Sodium Benzoate Market
4. Sodium Benzoate Market - Macro Economic Scenario
5. Global Sodium Benzoate Market Size and Growth
6. Sodium Benzoate Market Segmentation
7. Sodium Benzoate Market Regional and Country Analysis
8. Asia-Pacific Sodium Benzoate Market
9. China Sodium Benzoate Market
10. India Sodium Benzoate Market
11. Japan Sodium Benzoate Market
12. Australia Sodium Benzoate Market
13. Indonesia Sodium Benzoate Market
14. South Korea Sodium Benzoate Market
15. Western Europe Sodium Benzoate Market
16. UK Sodium Benzoate Market
17. Germany Sodium Benzoate Market
18. France Sodium Benzoate Market
19. Italy Sodium Benzoate Market
20. Spain Sodium Benzoate Market
21. Eastern Europe Sodium Benzoate Market
22. Russia Sodium Benzoate Market
23. North America Sodium Benzoate Market
24. USA Sodium Benzoate Market
25. Canada Sodium Benzoate Market
26. South America Sodium Benzoate Market
27. Brazil Sodium Benzoate Market
28. Middle East Sodium Benzoate Market
29. Africa Sodium Benzoate Market
30. Sodium Benzoate Market Competitive Landscape and Company Profiles
34. Sodium Benzoate Market Future Outlook and Potential Analysis
35. Appendix
Executive Summary
Sodium Benzoate Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on sodium benzoate market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for sodium benzoate? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This sodium benzoate market global report answers all of these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Scope
Markets Covered:1) By Type: Industrial Grade; Food Grade; Pharmaceutical Grade
2) By Form: Powder; Granules; Flakes; Other Forms
3) By Distribution Channel: Online Retailer; Offline Retailer
4) By Application: Antifungal Agent; Antimicrobial Agent; Rust and Corrosion Inhibitor; Preservative; Other Applications
Companies Mentioned: Foodchem International Corporation; A.M. Food Chemical Co. Limited; Brown Chemical Co.Inc.; Wuhan Youji Industry Company Limited; Jarchem Industries Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Foodchem International Corporation
- A.M. Food Chemical Co.Limited
- Brown Chemical Co.Inc.
- Wuhan Youji Industry Company Limited
- Jarchem Industries Inc.
- FBC Industries Inc.
- Archer Daniels Midland Company
- Akzo Nobel N.V.
- Spectrum Chemicals
- DuPont de Nemours Company
- Tengzhou Tenglong Chemical Co. Ltd.
- Cellmark USA LLC
- Ganesh Benzoplast Limited
- Vizag Chemicals
- Krishna Chemicals
- Eastman Chemical Company
- MERCK KGaA
- LANXESS
- Akema S.r.l.
- Zancheng Life Sciences Ltd.
- Reagents
- Charkit Chemical Corp
- Tulstar Products Inc.
- Shandong Tong Tai Wei Run
- Vertellus
- Tokyo Chemical Industry Co. Ltd.
- Macco Organiques Inc.
- W. Ulrich GmbH
- COFERMIN CHEMICALS GMBH & CO. KG
- Wuhan Biet Co. Ltd
- Atul Limited