Argentina Sodium Benzoate Market Size & Outlook, 2023-2030
Argentina sodium benzoate market , 2018-2030 (US$M)
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Argentina sodium benzoate market highlights
- The Argentina sodium benzoate market generated a revenue of USD 11.0 million in 2023 and is expected to reach USD 15.6 million by 2030.
- The Argentina market is expected to grow at a CAGR of 5.2% from 2024 to 2030.
- In terms of segment, powder was the largest revenue generating form in 2023.
- Powder is the most lucrative form segment registering the fastest growth during the forecast period.
Sodium benzoate market data book summary
| Market revenue in 2023 | USD 11.0 million |
| Market revenue in 2030 | USD 15.6 million |
| Growth rate | 5.2% (CAGR from 2023 to 2030) |
| Largest segment | Powder |
| Fastest growing segment | Powder |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Powder, Granules |
| Key market players worldwide | Foodchem International Corporation, Avantor Inc, Merck KGaA, Azelis Group NV, Spectrum Chemicals, DuPont de Nemours Inc, Tulstar Products, Lanxess AG |
Other key industry trends
- In terms of revenue, Argentina accounted for 2.5% of the global sodium benzoate market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil sodium benzoate market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 28.6 million by 2030.
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Sodium Benzoate Market Scope
Sodium Benzoate Market Companies
| Name | Profile | # Employees | HQ | Website |
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Argentina sodium benzoate market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to sodium benzoate market will help companies and investors design strategic landscapes.
Powder was the largest segment with a revenue share of 60% in 2023. Horizon Databook has segmented the Argentina sodium benzoate market based on powder, granules covering the revenue growth of each sub-segment from 2018 to 2030.
The sodium benzoate market is expected to grow in Argentina owing to the increasing consumption of processed foods and beverages. This growth is attributed to the rising consumption of food & beverage globally.
For instance, in March 2024, Santa Julia Winery and McDonald's announced the launching of a wine in aluminum cans throughout Argentina. Canned wine is becoming popular worldwide owing to its sustainability attributed to aluminum's infinite recyclable nature, as well as its ease of transportation, durability, and ability to protect the beverage from harmful UV rays.
Globally, winemakers add a small amount of sodium benzoate in the wine-making process, leading to a rise in demand for sodium benzoate in the country.
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Horizon Databook provides a detailed overview of country-level data and insights on the Argentina sodium benzoate market , including forecasts for subscribers. This country databook contains high-level insights into Argentina sodium benzoate market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Argentina sodium benzoate market report size, by form, 2018-2030 (US$M)
Argentina Sodium Benzoate Market Share, 2023 & 2030 (US$M)
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