Sodium Benzoate Market By Application (Food & Beverage, Cosmetics, Pharmaceuticals) - Growth, Future Prospects & Competitive Analysis, 2016 - 2023

Sodium benzoate is a salt of benzoic acid which is widely used as preservative in various end-user industries. It is naturally present in low levels in cranberries, apples, cinnamon and plums among other natural foods. It is among the cheap and easily available preservative and hence has high demand from various end-user industries such as food & beverage, pharmaceuticals, cosmetics, agriculture among others.

Rising demand for processed foods and ready to drink beverages has led to high demand for sodium benzoate in the market. Sodium benzoate eliminates the growth of bacteria and molds which helps preventing spoilage of food and drinks. Hence, high demand is reported for sodium benzoate from the food & beverages industry. Cosmetics application accounted for the second largest share of global sodium benzoate market. Owing to its extremely low level of toxicity it is used as a preservative in cosmetics products. Sodium benzoate owing to its antimicrobial preservative and flavoring agent properties also find its application in pharmaceutical industry.

Asia Pacific accounted for the major share of global sodium benzoate market in 2015. Food & beverage is the largest end-user segment in Asia Pacific. The rising demand for sodium benzoate as a preservative in the food industry is projected to boost market demand in the near future. High demand is reported for sodium benzoate not only from the food & beverage industry but also from the pharmaceutical and cosmetic industry in the region. In Asia Pacific, especially China is projected to generate high demand for sodium benzoate. In terms of demand, Europe accounted for the second largest market share in sodium benzoate market after Asia Pacific in 2015. Europe is a matured market for sodium benzoate and is projected to witness modest growth during the forecast period of 2016 to 2023. European regulatory authority approved sodium benzoate to be safe and limited consumption has no ill effects on health.

Sodium Benzoate Market

The report titled “Global Sodium Benzoate Market - Growth, Future Prospects, Competitive Analysis and Forecast, and 2016 – 2023” offers strategic insights into the global sodium benzoate market along with the market size and estimates for the duration 2013 to 2023. The said research study covers in-depth analysis of multiple market segments based on, application type and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2015 & 2023. The report also provides a prolific view on market dynamics such as market drivers, restraints and opportunities.

In order to help the strategic decision makers, the report also includes profiles of the leading sodium benzoate manufacturers, along with their, product portfolio and key developments. The major players profiled in the report are AkzoNobel N.V, Eastman Chemical Company, E.I. DuPont de Nemours Company, FBC Industries Inc., and Negar Azar among others. Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the kiln furniture industry
  • Market fuelers, market impediments, and their impact on the market growth
  • In-depth competitive environment analysis
  • Trailing 2-Year market size data (2013 – 2014)
  • SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global sodium benzoate market, offering market size and estimates for the period from 2016 to 2023, keeping in mind the above mentioned factors.

The global sodium benzoate market can be categorized on the basis of application as:

  • Food & Beverage
    • Food
    • Carbonic Drinks (Soda and Other Soft Drinks, etc)
  • Cosmetics
    • Skin Care
    • Oral Care
    • Hair Care
    • Others
  • Pharmaceutical
  • Others

The food and beverages segment accounted for the largest share in 2015 and projected to maintain its dominance during the forecast period of 2016 to 2023. Sodium benzoate is used as a preservative within the food and beverages industry to prolong product shelf life, maintain product quality, and enhance product safety and to reduce processing costs. This segment is projected to grow at a CAGR of 3.1% during the forecast period in terms of revenue. Increasing popularity and availability of packaged food and beverages is one of the drivers of the growth of this segment.

Sodium Benzoate Market

Demand for sodium benzoate from cosmetic application is projected to grow dramatically, at a CAGR of 3.4% during the forecast period. Sodium benzoate is used as a masking ingredient, anti-corrosive agent, fragrance ingredient and as a preservative in cosmetics and personal care products.  As a preservative, it prevents fungi and bacteria from developing in formulas and products and changing their compositions.

Sodium benzoate is also used extensively in pharmaceutical applications. It is used as a preservative for pharmaceutical products such as flavored vehicles, syrups and multiple dose containers for liquid preparations. The pH is an important factor and use levels may vary.

On the basis of geography, the global sodium benzoate market is segmented as per following regions and countries

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • EU7
    • CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Asia Pacific and Europe together accounted for more than 60% share of the global sodium benzoate market in 2015. However, growth is projected to be highest from Asia Pacific region owing to high demand for convenience foods and food products with a longer shelf life. Asia Pacific market for sodium benzoate is projected to grow at a CAGR of 3.5% during the forecast period in terms of revenue from 2016 to 2023. Europe accounted for the second largest share in sodium benzoate market in 2015 and is projected to experience modest growth during the forecast period. Rising demand for processed food and ready to drink beverages is driving the demand for sodium benzoate in this region. Pharmaceutical industry is another factor contributing towards the growth of sodium benzoate market in this region. North America, Middle East & Africa and Latin America are projected to grow at a below average growth rate during the forecast period of 2016 to 2023.

Sodium Benzoate Market

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Published Date:  Nov 2016
Category:  Food & Beverage
Report ID:   57936
Report Format:   PDF
Pages:   120
Rating:    4.5 (65)
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