Canada Sodium Benzoate Market Size & Outlook, 2023-2030
Canada sodium benzoate market , 2018-2030 (US$M)
Related Markets
Canada sodium benzoate market highlights
- The Canada sodium benzoate market generated a revenue of USD 15.2 million in 2023 and is expected to reach USD 22.7 million by 2030.
- The Canada 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.
Sodium benzoate market data book summary
| Market revenue in 2023 | USD 15.2 million |
| Market revenue in 2030 | USD 22.7 million |
| Growth rate | 5.9% (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, Canada accounted for 3.5% 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 North America, U.S. sodium benzoate market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 16.0 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Sodium Benzoate Market Scope
Sodium Benzoate Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Canada 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 59.87% in 2023. Horizon Databook has segmented the Canada sodium benzoate market based on powder, granules covering the revenue growth of each sub-segment from 2018 to 2030.
The sodium benzoate market in Canada is projected to grow during the forecast period due to the rising demand for food and beverage preservatives, pharmaceuticals, and personal and cosmetic products. Sodium benzoate is primarily used as a preservative in the food and beverage industry, processed foods, pickles, sauces, and frozen yogurt toppings; it also finds applications in pharmaceuticals and cosmetics.
For instance, in March 2022, Parkland, a major Canadian convenience store chain, made a strategic move to diversify its retail offerings by acquiring M&M Food Market. M&M is known for its premium preserved frozen food products, and this acquisition will allow Parkland to bring a new level of convenience and high-quality food options to its customers.
This acquisition is part of Parkland's larger efforts to expand its proprietary food selection, reach a broader customer base, and drive innovation within the company. With the addition of over 300 standalone franchise and corporate-owned M&M stores, as well as more than 2,000 M&M Express locations, Parkland gained a strong foothold in the preserved frozen food market.
Reasons to subscribe to Canada sodium benzoate market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of Canada sodium benzoate market databook
-
Our clientele includes a mix of sodium benzoate market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Canada sodium benzoate market , including forecasts for subscribers. This country databook contains high-level insights into Canada sodium benzoate market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Canada sodium benzoate market report size, by form, 2018-2030 (US$M)
Canada Sodium Benzoate Market Share, 2023 & 2030 (US$M)
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
