Asia Pacific Sodium Benzoate Market Size & Outlook
Asia Pacific sodium benzoate market , 2018-2030 (US$M)
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Asia Pacific sodium benzoate market highlights
- The Asia Pacific sodium benzoate market generated a revenue of USD 197.0 million in 2023.
- The market is expected to grow at a CAGR of 5.9% 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.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 197.0 million |
| Market revenue in 2030 | USD 294.8 million |
| Growth rate | 5.9% (CAGR from 2023 to 2030) |
| Largest segment | Powder |
| Fastest growing segment | Powder |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, Asia Pacific region accounted for 45.7% of the global sodium benzoate market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 294.8 million by 2030.
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Sodium Benzoate Market Scope
Sodium Benzoate Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific 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 63.71% in 2023. Horizon Databook has segmented the Asia Pacific sodium benzoate market based on powder, granules covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific is expected to dominate the global sodium benzoate market over the forecast period owing to the increasing food & beverage consumption worldwide. This growth is attributed to the rise in demand for sodium benzoate, which is used as a preservative to inhibit the growth of unwanted microorganisms in food & beverage industry.
For instance, in May 2024, Singapore introduced around 88 new brands and sub-brands in the soft drinks industry in 2023, which accounted for almost 10% of all the new brand launches in the global beverage industry.
Singapore emerged as one of the top three countries for product innovation and brand launches in the beverage industry, which includes hot drinks, soft drinks, and Alcoholic Ready-ToDrinks (RTDs). Moreover, Singapore ranked second behind the U.S. for product innovation in soft drinks. Consumers in Singapore and Asia Pacific are changing their diets to alleviate stress and anxiety.
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Our clientele includes a mix of sodium benzoate market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific sodium benzoate market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific sodium benzoate market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific sodium benzoate market report size, by country, 2018-2030 (US$M)
Asia Pacific Sodium Benzoate Market Share, 2023 & 2030 (US$M)
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