by Sodium benzoate is widely used as a preservative in food and beverage products due to its effective antimicrobial properties. It helps extend the shelf life of products by preventing the growth of fungi, yeast and some bacteria. Growing demand for processed and packaged foods coupled with rising health consciousness among consumers is expected to drive the demand for sodium benzoate over the forecast period.
Sodium benzoate is an effective and affordable preservative that can be used in a wide range of food applications including margarine, yogurt, salad dressings, carbonated beverages and jams & jellies. It imparts a slightly salty tangy taste to products and also acts as a pH control agent. Sodium benzoate prevents spoilage by competing with microorganisms for acid conditions inside food products. The global demand for sodium benzoate is increasing with growth in food processed products industry. Key players are developing new grades suitable for various applications to expand market presence.
The global sodium benzoate market size is estimated to be valued at US$ 2.23 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Sodium Benzoate Market are Spectrum Chemicals, Ganesh Benzoplast Ltd., Avantor Inc., Foodchem International Corporation, Merck KGaA, Wuhan Youji Industries Co. Ltd., FBC Industries, Inc., Tengzhou Tenglong Chemical Co., Ltd., CellMark AB, A.M. Food Chemical Co. Limited, Hugestone enterprise co. Ltd., Penta Chemicals, DuPont de Nemours, Inc., Tulstar Products, Inc., Lanxess AG, Akshar International, Ganesh Benzoplast Limited (GBL), Rishi Chemical, Sujata Chemicals.
The key opportunities in the market include rising use of sodium benzoate in personal care and pharmaceutical products due to its antimicrobial effects. Asia Pacific region shows highest growth potential owing to increasing overall packaged food demand and rapid urbanization.
Global expansion of the market is expected with growing export-import activities. Key players are focusing on expanding production capacities and global footprints through partnerships and acquisitions to strengthen market shares.
Market Drivers
Growing demand for sodium benzoate from food and beverage industry is one of the key driver for the market. Increasing consumption of packaged foods and ready-to-eat meals is propelling the demand for sodium benzoate as preservative. Changing lifestyle and busy schedules have increased uptake of convenient packaged food items among consumers. Rapid urbanization and rising disposable incomes in developing regions are further augmenting the packaged food market growth.
PEST Analysis
Political: Sodium Benzoate Market Regional Analysis is regulated by various food safety standards and regulations set by governing bodies like FDA and EFSA. Adhering to these regulations impacts the production and supply chain of sodium benzoate.
Economic: Changes in global and regional GDP growth impacts the demand patterns of end use industries like food and beverages that utilize sodium benzoate as a preservative. Volatility in raw material prices also affect the production costs.
Social: Changing consumer preferences towards natural and clean label ingredients have increased the demand for alternative preservatives like potassium sorbate and sodium propionate, thereby posing a challenge for sodium benzoate market. At the same time, increasing health awareness regarding processed food consumption supports the sodium benzoate market growth.
Technological: Advancements in biosynthetic production technologies help reduce the manufacturing costs of sodium benzoate. Development of sodium benzoate blends with other preservatives to boost antimicrobial effectiveness while reducing dosage is another technological trend.
In terms of value, the sodium benzoate market concentration is highest in Asia Pacific region, especially East Asian countries including China, India, Japan, and South Korea. This is attributed to large processed food industries and growing food & beverage consumption patterns in these economies.
The market in North America region is expected to witness fastest growth during the forecast period. This can be accredited to rising demand for naturally sourced and clean label ingredients across various industry verticals in the US and Canada. Stringent food safety regulations are also supporting the sodium benzoate uptake.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.
