According to the new research report published by The Insight Partners, titled “The Sodium Bicarbonate Market is expected to grow from US$ 1,596.37 million in 2021 to US$ 2,133.33 million by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028. The report highlights major factors driving the market growth and prominent players along with their developments in the market.
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RISING ADOPTION AMONG FOOD AND BEVERAGE MANUFACTURERS INCREASING SODIUM BICARBONATE DEMAND
A white, crystalline powder known as sodium bicarbonate is used as a systemic alkalizer, buffer, electrolyte replenisher, and in topical cleansing treatments. This sodium bicarbonate is used for food fermentation, as a detergent ingredient, carbon dioxide foamer, in pharmacy, leather, ore milling and metallurgy, detergent for woodland, metal heat-treating, fiber and rubber industry etc. Similar to other chemical leavening agents, sodium bicarbonate is typically used in baked products that do not require yeasts, such as cakes, cookies, muffins and cupcakes.
Demand for Sodium Bicarbonate Market
Growing demand for ready-to-eat or convenience foods is a primary factor propelling the growth of the sodium bicarbonate market. Its capability to maintain a stable pH level and neutralize acidic conditions in food drives the use of the chemical compound in baked products like bread, biscuits, and cakes. Furthermore, baking soda manufacturers benefit from sodium bicarbonate's low environmental impact and manufacturing costs.
Some of the companies competing in Sodium Bicarbonate Market are
- Solvay S.A.
- Tosoh Corporation
- Church & Dwight, Inc.
- Si?ecam
- AGC Inc.
- Ciech S.A.
- Tata Chemicals
- Ciner Group
- Bashkhim Group
- Novacap Group
Impact of COVID-19 Pandemic on Sodium Bicarbonate Market
Many economies were affected due to the COVID-19 outbreak. The pandemic has created a temporary distortion in operation efficiencies of industrial bases. The market for sodium bicarbonate has been negatively impacted due to disruptions in the supply chain. The COVID-19 outbreak has resulted in a sharp decrease in the number of visitors to food outlets, which were shut down, leading to increased retail sales of bread for home consumption. Various industries are recovering after the lifting of lockdown measures. As the countries are reopening their economies, the demand for sodium bicarbonate is expected to rise in the coming months.
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