Sodium Gluconate Market Size, Share & Trends Analysis Report By End-use (Construction, Food & Beverage, Textiles, Pharmaceutical), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global sodium gluconate market size was estimated at USD 596.2 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 3.7% from 2023 to 2030. Increasing usage in printing, textile dyeing, detergents, metal surface water treatment, and personal care products, is likely to positively influence the demand in the market. Moreover, it has exceptional chelating properties, thus, making it useful for application areas that might come in contact with hard water. Sodium gluconate is a crystalline powder having attributes such as non-toxic, non-corrosive, biodegradable, and water-soluble. It also has exceptional chelating power and is used as a surface cleaning agent. In addition, the rising usage of the product in the food and beverage industry to remove bitterness from food items is anticipated to increase the product demand in the coming years.

Sodium gluconate is an off-white powdered compound produced by the fermentation of sugar which is derived from corn and beets. It forms chelates with iron, calcium, aluminum, copper, and other heavy metals, and also surpasses all other chelating agents, such as Ethylenediamine tetraacetic acid (EDTA), Nitrilotriacetic acid (NTA) and related compounds. Furthermore, the product is listed as a generally permitted food additive and permits its usage across all foodstuffs. In addition, the U.S. FDA has also acknowledged it as generally recognized as safe (GRAS) and has approved the use of the product in food items as a nutrient supplement.

It is a good sequestrant for iron, copper, magnesium, calcium, and aluminum. It is also used as a steel surface cleaning agent, as well as a chelating agent for cement, plating, and alumina dyeing industries. The key industry drivers, such as increasing population, rising disposable incomes, growing construction sector, and growing demand from the textile industry, are expected to aid the industry growth. However, the high cost associated with the manufacturing of the product is expected to hamper the growth of the industry. Also, substantial modifications in the supply chain of sodium gluconate are imposing the prominence of high-quality products at affordable cost thus obstructing the industry growth rate.

End-use Insights

The construction sector dominated the market with a revenue share of more than 32% in 2022. This is attributable to its wide usage as used as a plasticizer and retardant across the industry. Various factors such as easy workability, retarding setting times, improved resistance from freeze-thawing, and reduction in cracking and dry shrinkage are likely to positively influence the market demand across regions. Furthermore, the increasing demand for sodium gluconate from the textile industry in cleaning and degreasing fiber is the major factor influencing the industry's growth.

There is a shift in consumer preference and people are choosing online platforms for buying household products due to their convenience and affordable pricing. With the outbreak of the COVID-19 pandemic, consumers have become more aware of personal hygiene, and thus, the demand for household cleaning products is rising in key economies across the globe including U.S. India, Japan, and China among others. Sodium gluconate is one of the key ingredients used in the formulation of detergents and thus, with the rising demand for detergents, the demand for the product is also anticipated to rise over the forecast period.

Furthermore, growing demand from the construction industry plasticizer along with the increased utilization of the product in food products due to its bitterness is anticipated to accelerate the growth rate over the forecast period. Also, increasing demand from various manufacturing sectors is likely to provide beneficial opportunities for product growth. It inhibits bitter flavors and is used in vegetables, preserved fish, processed fruit, processed meats, dairy products, cereals, and many other applications. Increasing concerns over diseases along with the rising health awareness among consumers are expected to augment the product demand in the coming years. However, the high manufacturing cost might become a barrier to the growth of the market over the forecast period.

Regional Insights

Asia Pacific region dominated the market with a revenue share of 36.87% in 2022. This can be attributed to the high demand for the product from the construction industry, especially from China, which is a major producer and consumer of sodium gluconate. North America is also another significant region as the product is widely used in various industries across the region, such as metal cleaning, and textile among others.

Increased demand from the food and beverage industry of the region is also projected to benefit the product demand over the forecast period. Continuous industrialization, rapid urbanization, and growing demand for clean water as well as processed food are some of the other key factors driving the product demand in Asia Pacific.

In Europe, the market is expected to witness an expansion owing to the rising demand for the product from various manufacturing sectors, the presence of prominent players, and the adoption of high technology. Additionally, improved governments’ expenditure on structural expansion is expected to trigger the development of the product in the coming years.

Key Companies & Market Share Insights

The global market is found to be consolidated owing to the presence of a limited number of manufacturers across the globe, who are investing in increasing their production capacities to gain a competitive advantage. Product launches, expansion, research, and development efforts are also crucial to gain a competitive advantage.

The growing consumer awareness related to hygiene, especially after the outburst of the COVID-19 pandemic, has influenced various global detergent manufacturing companies to enter the cleaning formulation manufacturing domain to fulfill the increased product demand. For instance, in May 2022, Proctor & Gamble (P&G), invested INR 200 crores in the construction of a liquid detergent manufacturing plant in Hyderabad, India to expand its product portfolio in the hygiene products segment. Such initiatives have led to a rise in the demand for sodium gluconate across regions. Some prominent players in the global sodium gluconate market include:

• Shandong Fuyang Bio-Tech CO.LTD

• Fermentation Products, Inc.

• Jungbunzlauer Suisse AG

• Zhucheng Dongxiao Biotechnology Co., Ltd

• Shandong Qilu Bio-Technology Group Co., Ltd.

• Weifang Honghai

• Shandong Kaison

• Qingdao Kehai

Sodium Gluconate Market Report Scope

Global Sodium Gluconate Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global sodium gluconate market report based on end-use, and region:

• End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Construction

  • Food & Beverage

  • Pharmaceuticals

  • Textiles

  • Water Treatment

  • Other End-uses

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • South Africa