Asia Pacific Sodium Nitrite Market Size & Outlook
Asia Pacific sodium nitrite market, 2018-2030 (US$M)
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Asia Pacific sodium nitrite market highlights
- The Asia Pacific sodium nitrite market generated a revenue of USD 310.0 million in 2023.
- The market is expected to grow at a CAGR of 4.8% from 2024 to 2030.
- In terms of segment, food & beverages was the largest revenue generating grade in 2023.
- Other Applications is the most lucrative grade segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 310.0 million |
| Market revenue in 2030 | USD 429.4 million |
| Growth rate | 4.8% (CAGR from 2023 to 2030) |
| Largest segment | Food & beverages |
| Fastest growing segment | Other Applications |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Food & Beverages, Corrosion Inhibitors, Dyes & pigments, Pharmaceuticals, Other Applications |
| Key market players worldwide | ICL Group Ltd, Basf SE, SABIC, Deepak Fertilisers, Jiangsu Fengshan Group, UralChem, Radiant Indus Chem |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 74.9% of the global sodium nitrite 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 429.4 million by 2030.
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Sodium Nitrite Market Scope
Sodium Nitrite Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific sodium nitrite 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 nitrite market will help companies and investors design strategic landscapes.
Food & beverages was the largest segment with a revenue share of 25.35% in 2023. Horizon Databook has segmented the Asia Pacific sodium nitrite market based on food & beverages, corrosion inhibitors, dyes & pigments, pharmaceuticals, other applications covering the revenue growth of each sub-segment from 2018 to 2030.
Asia is known as the garment factory of the world and accounts for around 55% of the global clothing and textiles exports employing around 60 million population. The textile industry in the region is moving towards adoption of organic fibers as they are easy to clean and maintain. The textile industry in the region is valued at around USD 530.9 billion and is expected to grow in the coming years owing to the rapid economic growth.
Processed meat is a major segment in the food & beverage sector. Advancement in meat processing technologies to meet the demand is boosting the demand for the product. The processed meat market of China majorly includes beef, pork, poultry, mutton, and others. They are easily available at the convenience store, supermarkets, butchers, and others.
China has the second-largest pharmaceutical sector across the globe. An increase in health awareness post-COVID has been dominating the market recently. Over-the-counter (OTC) medicines and generic medicines sales are on the rise with the acceptance of self-medication by the population. Companies are continuously involved in R&D to manufacture advanced medicines to cure the disease.
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Target buyers of Asia Pacific sodium nitrite market databook
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Our clientele includes a mix of sodium nitrite market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific sodium nitrite market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific sodium nitrite market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific sodium nitrite market size, by country, 2018-2030 (US$M)
Asia Pacific Sodium Nitrite Market Outlook Share, 2023 & 2030 (US$M)
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