Brazil Sodium Benzoate Market Size & Outlook, 2023-2030
Brazil sodium benzoate market , 2018-2030 (US$M)
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Brazil sodium benzoate market highlights
- The Brazil sodium benzoate market generated a revenue of USD 19.8 million in 2023 and is expected to reach USD 28.6 million by 2030.
- The Brazil market is expected to grow at a CAGR of 5.4% 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 19.8 million |
| Market revenue in 2030 | USD 28.6 million |
| Growth rate | 5.4% (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, Brazil accounted for 4.6% 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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Brazil 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 60.61% in 2023. Horizon Databook has segmented the Brazil sodium benzoate market based on powder, granules covering the revenue growth of each sub-segment from 2018 to 2030.
The sodium benzoate market is rising due to the growing demand for food and beverages in the country. This has led to the launch of new soft drinks and fruit juices, leading to a rise in demand for sodium benzoate, which is used as a preservative in the food & beverage industry.
For instance, in October 2023, Britvic, a UK soft drink company, announced the acquisition of extra power energy drink brand from GlobalBev along with the acquisition of three more soft drink brands, namely Juxx (a juice brand), Flying Horse (an energy drink brand), and Amazoo (an acai smoothie brand).
These acquisitions enable Britvic to expand its portfolio and regional footprint, with the deal also including a modern warehouse in Brasilia to help route to the market in Brazil’s Center-west region. Britvic has also developed fruit-flavored drink brands such as Maguary, Bela Ischia, and Dafruta into national presences.
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Horizon Databook provides a detailed overview of country-level data and insights on the Brazil sodium benzoate market , including forecasts for subscribers. This country databook contains high-level insights into Brazil sodium benzoate market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Brazil sodium benzoate market report size, by form, 2018-2030 (US$M)
Brazil Sodium Benzoate Market Share, 2023 & 2030 (US$M)
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