Saudi Arabia Sodium Nitrite Market Size & Outlook
Saudi Arabia sodium nitrite market, 2018-2030 (US$M)
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Saudi Arabia sodium nitrite market highlights
- The Saudi Arabia sodium nitrite market generated a revenue of USD 0.2 million in 2023 and is expected to reach USD 0.3 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 2.8% 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.
Sodium nitrite market data book summary
| Market revenue in 2023 | USD 0.2 million |
| Market revenue in 2030 | USD 0.3 million |
| Growth rate | 2.8% (CAGR from 2023 to 2030) |
| Largest segment | Other applications |
| 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, Saudi Arabia accounted for 0.1% 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 Middle East & Africa, South Africa sodium nitrite 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 1.1 million by 2030.
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Sodium Nitrite Market Scope
Sodium Nitrite Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia 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 50% in 2023. Horizon Databook has segmented the Saudi Arabia 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.
Saudi Arabia has one of the highest consumption of red meat in the Middle East and North Africa region. According to invest Saudi, the average investment in red meat products in the country is around USD 16 million. The country has high Halal standards making its food products quite attractive to Muslim countries.
The processed red meat market in Saudi Arabia is dominated by three players namely Americana, Sunbulah, and Sahar accounting for a share of around 70% of the market. Factors such as increased adoption of the Halal lifestyle in the country and a substantial rise in the number of Umrah and Haji visitors are expected to boost the processed meat industry thereby having a positive impact on the sodium nitrite market in the coming years
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia sodium nitrite market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia sodium nitrite market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia sodium nitrite market size, by grade, 2018-2030 (US$M)
Saudi Arabia Sodium Nitrite Market Outlook Share, 2023 & 2030 (US$M)
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