SODIUM BENZOATE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America dominates the sodium benzoate market with an estimated market share of 53.4% in 2024,owing to the strong presence of major manufacturers. Huge demand for sodium benzoate from the food and beverage industry can drive the regional market growth. Wide acceptability and application of sodium benzoate as a preservative in various food products can boost its consumption in the region over years. Moreover, the stable prices of sodium benzoate in international markets makes North American exports highly competitive in global markets.

Asia Pacific region has emerged as the fastest growing regional market for sodium benzoate. Rapid industrialization and urbanization coupled with rising disposable incomes have been instrumental in reshaping the food habits of consumers in emerging economies like India and China. This has significantly contributed to growth of the packaged and processed food industry in the region. Increasing demand for longer shelf-life and convenient food and beverage products can boost consumption of sodium benzoate. It is widely used as a preservative in acid foods like jams, fruit juices, carbonated beverages and picklesFurthermore, the bulk availability of raw materials and cheap labor costs provide a competitive edge to sodium benzoate manufacturers based in Asia Pacific countries to cater to both domestic as well as overseas markets.