India Sodium Nitrite Market Size & Outlook, 2023-2030
India sodium nitrite market, 2018-2030 (US$M)
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India sodium nitrite market highlights
- The India sodium nitrite market generated a revenue of USD 59.6 million in 2023 and is expected to reach USD 86.1 million by 2030.
- The India market is expected to grow at a CAGR of 5.4% 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.
Sodium nitrite market data book summary
| Market revenue in 2023 | USD 59.6 million |
| Market revenue in 2030 | USD 86.1 million |
| Growth rate | 5.4% (CAGR from 2023 to 2030) |
| Largest segment | Food & beverages |
| Fastest growing segment | Other Applications |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, India accounted for 14.4% of the global sodium nitrite market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China sodium nitrite market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 86.1 million by 2030.
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Sodium Nitrite Market Scope
Sodium Nitrite Market Companies
| Name | Profile | # Employees | HQ | Website |
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India 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 25.34% in 2023. Horizon Databook has segmented the India 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.
According to India Brand Equity Foundation’s November 2021 report, India is the largest generic drug provider across the globe. India accounts for 50% of the global supplies for various drugs. The manufacturing of the COVID 19 vaccine has placed India in the most important position in the pharmaceutical sector.
India is the home of many top pharma companies. With the continued advancement in manufacturing, medicines are expected to boost the pharmaceutical market in India. Major segments under the pharmaceutical sector include generic drugs, OTC medicines, vaccines, bulk drugs, and many more.
The growth of the sector in the country is driving companies to manufacture advanced medicine thereby driving the demand for sodium nitrite market.
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Horizon Databook provides a detailed overview of country-level data and insights on the India sodium nitrite market , including forecasts for subscribers. This country databook contains high-level insights into India sodium nitrite market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India sodium nitrite market size, by grade, 2018-2030 (US$M)
India Sodium Nitrite Market Outlook Share, 2023 & 2030 (US$M)
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