Saudi Arabia Sodium Benzoate Market Size & Outlook
Saudi Arabia sodium benzoate market , 2018-2030 (US$M)
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Saudi Arabia sodium benzoate market highlights
- The Saudi Arabia sodium benzoate market generated a revenue of USD 8.5 million in 2023 and is expected to reach USD 11.7 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 4.6% 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 8.5 million |
| Market revenue in 2030 | USD 11.7 million |
| Growth rate | 4.6% (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, Saudi Arabia accounted for 2.0% 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 Middle East & Africa, South Africa sodium benzoate market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 17.4 million by 2030.
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Sodium Benzoate Market Scope
Sodium Benzoate Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia 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% in 2023. Horizon Databook has segmented the Saudi Arabia sodium benzoate market based on powder, granules covering the revenue growth of each sub-segment from 2018 to 2030.
The consumption of processed food & beverage is increasing in Saudi Arabia. It is leading to a surging demand for processed food & beverage in the country. This, in turn, is contributing to the demand for sodium benzoate, which is used as a preservative in food & beverage.
According to reports from January 2023, one in three young individuals in Saudi Arabia consumed fast food more than twice a week. Moreover, approximately 85% of young people in the country prefer fast food over homemade food.
In addition, the report revealed that more than 28.5% of people in Saudi Arabia consume fast food more than twice a week. Interestingly, the students with the highest monthly family income were found to have a significantly higher frequency of fast-food consumption than the ones with a lower monthly family income.
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia sodium benzoate market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia sodium benzoate market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia sodium benzoate market report size, by form, 2018-2030 (US$M)
Saudi Arabia Sodium Benzoate Market Share, 2023 & 2030 (US$M)
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