North America Sodium Benzoate Market Size & Outlook
North America sodium benzoate market , 2018-2030 (US$M)
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North America sodium benzoate market highlights
- The North America sodium benzoate market generated a revenue of USD 91.0 million in 2023.
- The market is expected to grow at a CAGR of 5.6% 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.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 91.0 million |
| Market revenue in 2030 | USD 133.1 million |
| Growth rate | 5.6% (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, North America region accounted for 21.1% 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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North America 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 60.22% in 2023. Horizon Databook has segmented the North America sodium benzoate market based on powder, granules covering the revenue growth of each sub-segment from 2018 to 2030.
The sodium benzoate market in North America is expected to grow significantly over the forecast period due to a rise in demand for food and beverage preservatives in the region. Sodium benzoate finds applications in pharmaceutical and personal and cosmetic care products, which are expected to grow over the forecast period.
For instance, in February 2024, The Coca-Cola Company announced the launch of a new flavor, spicy raspberry soda, as part of the trend toward snacks and drinks with bold and exciting flavors. This new fizzy drink is a fruity twist on the classic soda and marks Coca-Cola's first new permanent offering in North America in 3 years.
The company had planned to release two versions of the drink, Coca-Cola Spiced and Coca-Cola Spiced Zero Sugar, in the U.S. and Canada on February 19, 2024. This resulted in a rise in demand for sodium benzoate which is used by Coca-Cola as a preservative in their beverage offerings.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America sodium benzoate market , including forecasts for subscribers. This continent databook contains high-level insights into North America sodium benzoate market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America sodium benzoate market report size, by country, 2018-2030 (US$M)
North America Sodium Benzoate Market Share, 2023 & 2030 (US$M)
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