Global Sodium Bicarbonate Market 2019-2023 | 2% CAGR Projection Through 2023 | Technavio
The global sodium bicarbonate market is expected to post a CAGR of almost 2% during the period 2019-2023, according to the latest market research report by Technavio.
The global sodium bicarbonate market is expected to post a CAGR of almost 2% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global sodium bicarbonate market 2019-2023. (Graphic: Business Wire)
Sodium bicarbonate is predominantly used in animal feed products as an acidity regulator. It is widely used in the supplementation of feeds for dairy cows, beef cows, pigs, broilers, and laying hens. For instance, in poultry, it helps to make the eggshells strong. In dairy animal feed, sodium bicarbonate helps improve digestion, enhance milk fat percentage, and increase the milk yield. Factors such as globalization and the rise in the consumption of meat have fueled the growth of the global livestock industry. This has increased the demand for animal feed for farm animals such as cattle, hens, pigs, turkeys, and other livestock. These factors are expected to drive the growth of the global sodium bicarbonate market during the forecast period.
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As per Technavio, the growing demand for detergents will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Sodium Bicarbonate Market: Growing Demand for Detergents
Factors such as high population, growing awareness about health and hygiene, and improving standards of living have increased the demand for detergents in APAC. In Europe, countries such as the UK, Germany, and Russia are exhibiting a strong demand for liquid detergents. The demand for detergents and cleaning agents is also increasing in other regions such as the US, Canada, Brazil, and Mexico. Sodium bicarbonate is widely used as an additive in many detergents and cleaning products. With the growing consumption of detergents, the demand for sodium bicarbonate will increase during the forecast period.
“Increasing adoption of biopesticides and the growing use of sodium bicarbonate as a deodorizing agent will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Sodium Bicarbonate Market: Segmentation Analysis
This market report segments the global sodium bicarbonate market by application (animal feed, food and beverage, FGT, pharma and cosmetics, and others) and geography (the Americas, APAC, and EMEA).
The APAC region led the market in 2018, followed by EMEA and the Americas respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the rising demand for sodium bicarbonate from the cosmetics and personal care industry in China.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Customer Landscape
Geographical Segmentation
- Geographic comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Landscape disruption
- Competitive scenario
Vendor Analysis
- Vendors covered
- Vendor classification
- Market positioning of vendors
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