North America Sodium Nitrite Market Size & Outlook
North America sodium nitrite market, 2018-2030 (US$M)
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North America sodium nitrite market highlights
- The North America sodium nitrite market generated a revenue of USD 21.0 million in 2023.
- The market is expected to grow at a CAGR of 3.3% from 2024 to 2030.
- In terms of segment, other applications 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, Mexico is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 21.0 million |
| Market revenue in 2030 | USD 26.4 million |
| Growth rate | 3.3% (CAGR from 2023 to 2030) |
| Largest segment | Other applications |
| 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, North America region accounted for 5.1% 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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North America 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.
Other applications was the largest segment with a revenue share of 29.05% in 2023. Horizon Databook has segmented the North America 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.
The increasing need for food additives from the meat processing industries to increase shelf life of food and to stop microbiological growth and contamination are expected to drive the market growth in the coming years. The sodium nitrite market is expected to witness decent growth owing to an increase in demand for easy to eat and convenient meals, resulting in the growth of the meat processing sector.
The expansion of processed meat industry is fueled by increasing consumer disposable income and an increasing number of millennials consuming processed food. This is likely to drive the sodium nitrite market over the projected years.
The demand for protein is rising as consumers are becoming more aware of the need for eating foods that are high in nutrients. The fast paced lifestyles of people in developed areas of the region have resulted in a preference for processed foods among the working class.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America sodium nitrite market , including forecasts for subscribers. This continent databook contains high-level insights into North America sodium nitrite market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America sodium nitrite market size, by country, 2018-2030 (US$M)
North America Sodium Nitrite Market Outlook Share, 2023 & 2030 (US$M)
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