Market revenue in 2023 | USD 14.7 million |
Market revenue in 2030 | USD 21.8 million |
Growth rate | 5.8% (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 |
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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 61.22% in 2023. Horizon Databook has segmented the Japan sodium benzoate market based on powder, granules covering the revenue growth of each sub-segment from 2018 to 2030.
Sodium benzoate is a preservative frequently used in Japanese foods and cosmetics. It is also utilized as a fragrance ingredient and corrosion inhibitor in cosmetics and personal care products. Sodium benzoate is majorly used in pharmaceutical industry of Japan.
For instance, in September 2022, Fosun Pharma and MAIA Pharmaceuticals jointly announced the successful commercialization of a 20ml sodium phenylacetate and sodium benzoate (SPSB) liquid product approved by the FDA.
This product is intended to be used in cases where 50ml SPSB is prescribed, mostly in pediatric settings. Using 50ml SPSB often results in extensive wastage, a huge cost to the healthcare system. SBSP is available in 20ml and 50ml vial sizes but only MAIA Pharmaceuticals has received FDA approval for the 20ml vial size for SPSB. This has boosted the demand for sodium benzoate in the country.
Horizon Databook provides a detailed overview of country-level data and insights on the Japan sodium benzoate market , including forecasts for subscribers. This country databook contains high-level insights into Japan sodium benzoate market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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