Mexico Sodium Benzoate Market Size & Outlook, 2023-2030
Mexico sodium benzoate market , 2018-2030 (US$M)
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Mexico sodium benzoate market highlights
- The Mexico sodium benzoate market generated a revenue of USD 10.4 million in 2023 and is expected to reach USD 16.0 million by 2030.
- The Mexico market is expected to grow at a CAGR of 6.4% 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 10.4 million |
| Market revenue in 2030 | USD 16.0 million |
| Growth rate | 6.4% (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, Mexico accounted for 2.4% 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.
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Sodium Benzoate Market Scope
Sodium Benzoate Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico 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 60.58% in 2023. Horizon Databook has segmented the Mexico sodium benzoate market based on powder, granules covering the revenue growth of each sub-segment from 2018 to 2030.
Mexico’s sodium benzoate market is expected to grow over the forecast period. This growth is attributed to an increase in demand for preservatives for pharmaceuticals, personal care, cosmetics, and the food and beverages industries.
For instance, in February 2023, Minute Maid announced the launch of new real fruit juices with natural flavors, under the brand Aguas Frescas, expanding its lineup to reach even more consumers. This new launch came with a new flavor and two new packaging options.
This product was inspired by the Latin American non-carbonated beverages. The new Pineapple Horchata flavor is available in chilled 52-oz. bottles. This product uses sodium benzoate as a food and beverage preservative resulting in the rising demand for sodium benzoate in the country.
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico sodium benzoate market , including forecasts for subscribers. This country databook contains high-level insights into Mexico sodium benzoate market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico sodium benzoate market report size, by form, 2018-2030 (US$M)
Mexico Sodium Benzoate Market Share, 2023 & 2030 (US$M)
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