U.S. Sodium Benzoate Market Size & Outlook, 2023-2030
U.S. sodium benzoate market , 2018-2030 (US$M)
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U.S. sodium benzoate market highlights
- The U.S. sodium benzoate market generated a revenue of USD 65.5 million in 2023 and is expected to reach USD 94.4 million by 2030.
- The U.S. market is expected to grow at a CAGR of 5.4% 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 65.5 million |
| Market revenue in 2030 | USD 94.4 million |
| Growth rate | 5.4% (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, U.S. accounted for 15.2% 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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U.S. 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 60.15% in 2023. Horizon Databook has segmented the U.S. sodium benzoate market based on powder, granules covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. sodium benzoate market is projected to grow over the forecast period due to the growing preference of consumers for fast and processed food and beverages. This has resulted in an increase in demand for sodium benzoate as a preservative in the food and beverage industry.
Jack Daniel's Properties, Inc. and The Coca-Cola Company Ready to Drink (RTD) launched a new premixed canned cocktail for the U.S. market, which was first launched in Mexico. The beverage combines the smooth character of Jack Daniel's Tennessee Whiskey with the refreshing taste of Coca-Cola.
The product is available in 12-oz. cans, having an alcohol content of 7% ABV, this product has been made available in the U.S. since May 2023. This new launch will lead to a rise in demand for sodium benzoate which is used in Coca-Cola as food and beverage preservative.
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. sodium benzoate market , including forecasts for subscribers. This country databook contains high-level insights into U.S. sodium benzoate market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. sodium benzoate market report size, by form, 2018-2030 (US$M)
U.S. Sodium Benzoate Market Share, 2023 & 2030 (US$M)
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