The major driving factors of global sodium bicarbonate market are rapidly growing pharmaceutical and chemical industry, owing to rising demand for cleaning products along with increasing health consciousness among consumers. The macroeconomic factor responsible for the growth of the global sodium bicarbonate market are emerging economy such as Brazil, Argentina, India, and China, owing to a rapid rate of urbanization along with increasing per capita income in these countries. Another key factor which is driving the growth of sodium bicarbonate market is significant growth in the food industry, owing to a high demand for packaged food across the globe. Significant growth in the cosmetics industry is also the key driving factor of global sodium bicarbonate market, attributed to a high demand of personal care products among consumers. In recent years, high demand in animal feed industry is majorly driving the global sodium bicarbonate market. The key restraining factors which restrict to grow global sodium bicarbonate market are its side effects such as eye and skin irritation and govt. Regulations for usage of sodium bicarbonate in industries. High Mergers and Acquisitions among market players for accounting high market share across the globe is the key trend of global sodium bicarbonate market.
Global sodium bicarbonate market can be segmented by end-use industry, application type, product form type, and region. Among end-use industry, Chemical and Food & Beverage industry is estimated to witness high market share over forecasted period.; Sodium Bicarbonate market Segmentation BY End Use – Food & Beverage, Cosmetics, Agriculture, Chemical, Pharmaceutical, Petroleum, Feed; By Application – Additives, Solvents, Household, Leavening agents; By Product Type – Powder, White crystal, Wet solid, Liquid
Based on the geographies, global sodium bicarbonate market is segmented into seven regions includes Western Europe, North America, Latin America, Eastern Europe, Japan, Asia-Pacific except Japan and Middle East & Africa. Among the mentioned region, North America accounts high market share in sodium bicarbonate market across the globe followed by Western Europe and other Asian countries, owing to a high demand of sodium bicarbonate for chemical and food industry. China is the largest market of sodium bicarbonate based on consumption as well as production across the globe. Large market players of global sodium bicarbonate market such as Solvay and Novacap are targeting to invest in Asian countries, owing to a high demand of sodium bicarbonate in detergents, personal care, and food products across the region. Saudi Arabia is estimated to witness a positive growth rate in global sodium bicarbonate market due to high demand in food and agriculture industry in the Middle East & Africa region. It is predicted to witness a positive growth rate of global sodium market in Germany and Belgium, owing to high usage of sodium bicarbonate in the chemical industry across the region.