South Africa Sodium Benzoate Market Size & Outlook
South Africa sodium benzoate market , 2018-2030 (US$M)
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South Africa sodium benzoate market highlights
- The South Africa sodium benzoate market generated a revenue of USD 12.6 million in 2023 and is expected to reach USD 17.4 million by 2030.
- The South Africa market is expected to grow at a CAGR of 4.8% 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.
Sodium benzoate market data book summary
| Market revenue in 2023 | USD 12.6 million |
| Market revenue in 2030 | USD 17.4 million |
| Growth rate | 4.8% (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 |
Other key industry trends
- In terms of revenue, South Africa accounted for 2.9% 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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South Africa 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 60.32% in 2023. Horizon Databook has segmented the South Africa sodium benzoate market based on powder, granules covering the revenue growth of each sub-segment from 2018 to 2030.
The rise in demand for packaged food & beverages and an increase in their consumption result in a surged demand for sodium benzoate, which is used in packaged food & beverages. According to the Global Food Research Program, it has been found that low-income adults in South Africa consume an average of 40% of their daily calories from ultra-processed products.
This trend is highly prominent among young individuals and that is a cause for concern as there is a rise in nutritionrelated diseases in the country. For instance, ultra-processed products is consumed just over 40% by 18-29 year old for daily calories, while only 22% among 40–50-year olds.
The increase in the consumption of processed food & beverage has led to a surge in demand for sodium benzoate, thereby leading to the growth of the market in South Africa.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa sodium benzoate market , including forecasts for subscribers. This country databook contains high-level insights into South Africa sodium benzoate market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
South Africa sodium benzoate market report size, by form, 2018-2030 (US$M)
South Africa Sodium Benzoate Market Share, 2023 & 2030 (US$M)
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