Sodium Bicarbonate Market by Region – Global Opportunities & Forecast, 2020-2027

Sodium Bicarbonate Market

GMI Research foresees a significant surge in the Sodium Bicarbonate Market size over the forecast period. The market is anticipated to rise at a growth rate of more than 5% over the next five years. This is because of the augmenting demand for ready-to-eat food items guided by the hectic lifestyle of individuals.

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Sodium Bicarbonate Market Dynamics

The accelerating geriatric population and the growing application of sodium bicarbonate in the pharmaceutical industry in the antacid medicine group to treat acid indigestion, stomach ulcers, and heartburn are anticipated to proliferate the growth of the global Sodium Bicarbonate Market. Also, the expansion in the chemical industry has strengthened the market size. In addition, the increasing demand for sodium bicarbonate from several end-use industries such as pharmaceutical, leather, agrochemical, food, and personal care because of its features such as cleaning, grinding, grease-cutting, and smell counterbalancing is likely to drive the market growth. Furthermore, sodium bicarbonate is increasingly used in skincare and personal care products such as toothpaste, detergent, lotion, and bath salts, which will propel the Sodium Bicarbonate market growth.

However, the evolution of the coronavirus pandemic had a pessimistic influence on the supply chain of sodium bicarbonate, which is likely to restrain the market growth. Additionally, the Sodium Bicarbonate market report anticipates that the increasing accessibility of counterfeit products that includes sodium acetate, sodium borate, potassium bicarbonate, and yeast may hamper the market growth.

Regional Drivers

Based on the regional analysis, the Asia-Pacific region is anticipated to apprehend a notable share in the sodium bicarbonate market. This is mainly because of the expansion in pharmaceutical production and a surge in the number of industries which include chemicals, cosmetics, and food & beverages. In accordance with the BASF SE, China is the world's largest chemical market growing at a production rate of 6.3% in 2021, which further promotes the market growth. As per the Sodium Bicarbonate market forecast, the leading players, including DCW Limited, Tata Chemicals Ltd., Nirma Limited, and Tosoh Corporation in Asia-Pacific will proliferate during the coming years.

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