China Sodium Benzoate Market Size & Outlook, 2023-2030
China sodium benzoate market , 2018-2030 (US$M)
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China sodium benzoate market highlights
- The China sodium benzoate market generated a revenue of USD 86.0 million in 2023 and is expected to reach USD 128.9 million by 2030.
- The China market is expected to grow at a CAGR of 6% 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 86.0 million |
| Market revenue in 2030 | USD 128.9 million |
| Growth rate | 6% (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, China accounted for 19.9% 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 Asia Pacific, China sodium benzoate market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 100.1 million by 2030.
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Sodium Benzoate Market Scope
Sodium Benzoate Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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 62.67% in 2023. Horizon Databook has segmented the China sodium benzoate market based on powder, granules covering the revenue growth of each sub-segment from 2018 to 2030.
China sodium benzoate market is expected to grow over the forecast period. This is attributed to the rise in demand for preservatives in the food & beverage industry. Sodium benzoate also finds application in pharmaceutical and personal care industries.
The sodium benzoate market is also growing due to government regulations in favor of promoting market players to get a foothold in the sodium benzoate market. For instance, in March 2023, the National Health Commission (NHC) announced the approval of 28 new food materials and additives, of which six are enzymes derived from Genetically Modified Microorganisms (GMMs).
NHC issued two announcements (No. 1 of 2023 and No. 3 of 2023), in which a total of 42 products were approved. Out of these, 22 were new food additives (including those for expanded use). This includes sodium benzoate, which is used as a preservative in the food & beverage industry, leading to a rise in the use of sodium benzoate in the region.
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Horizon Databook provides a detailed overview of country-level data and insights on the China sodium benzoate market , including forecasts for subscribers. This country databook contains high-level insights into China sodium benzoate market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China sodium benzoate market report size, by form, 2018-2030 (US$M)
China Sodium Benzoate Market Share, 2023 & 2030 (US$M)
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