Europe Sodium Benzoate Market Size & Outlook, 2023-2030
Europe sodium benzoate market , 2018-2030 (US$M)
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Europe sodium benzoate market highlights
- The Europe sodium benzoate market generated a revenue of USD 64.5 million in 2023.
- The market is expected to grow at a CAGR of 5.8% 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, France is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 64.5 million |
| Market revenue in 2030 | USD 95.4 million |
| Growth rate | 5.8% (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, Europe region accounted for 15.0% 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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Europe 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 56.9% in 2023. Horizon Databook has segmented the Europe sodium benzoate market based on powder, granules covering the revenue growth of each sub-segment from 2018 to 2030.
The market in Europe is projected to grow during the forecast period owing to the rising demand for sodium benzoate for use in the food & beverage, pharmaceuticals, and cosmetics industries in the region. It is used as a preservative in the food & beverage industry to stop the growth of microorganisms in food products and beverages.
In October 2023, The Coca-Cola company announced a collaboration with The Absolut Company. Vodka & Sprite introduces a ready-to-drink pre-mixed cocktail (PMC) that comprises Absolut, the global premium vodka, and Sprite, the lemon sparkling soft drink consumed worldwide. This PMC beverage is available in two versions: Sprite Zero Sugar and Sprite.
The initial launch was planned for select European countries, such as Spain, the Netherlands, the UK, and Germany, in early 2024. This has resulted in a rise in demand for sodium benzoate, which is primarily used in Coca-Cola products.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe sodium benzoate market , including forecasts for subscribers. This continent databook contains high-level insights into Europe sodium benzoate market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe sodium benzoate market report size, by country, 2018-2030 (US$M)
Europe Sodium Benzoate Market Share, 2023 & 2030 (US$M)
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