Sodium Benzoate Prices in the USA Likely to Go South in the Upcoming Month

USA: The future is expected to see a drop in Sodium Benzoate prices in the USA domestic market, according to industry analysts' estimations. It is extensively utilized as a food additive in the food and beverage (F&B) industries, as well as other end-user businesses that significantly rely on imports, mainly from China.

The price trend of Sodium Benzoate in the USA is mostly supported by falling prices of the primary ingredient, Benzoic Acid, among other factors. Additionally, at this time, the price of crude oil is still slightly fluctuating on a global level. The indigenous supply of the source of Sodium Benzoate, Toluene, has been drastically curtailed and will not get better anytime soon because of the country's weak downstream demand. Because of this, Sodium Benzoate prices are steady right now and are expected to decrease in the future.

The food market's growth is also attributable to the increased use of zero-or low-carbon fuels since consumers all over the world now favor low-calorie food products. Customers are choosing healthier diets, including low-calorie food options, in light of the emerging lifestyle conditions such as diabetes, obesity, thyroid, and cardiovascular diseases that are becoming more prevalent. Consequently, the use of artificial sweeteners has grown globally. Further, increasing hectic lifestyles have urged the people of the USA to choose prepared and processed foods, such as cereal for breakfast, energy drinks, and other items. Despite all of this, the demand from the food and beverage industries (F&B) is dropping in the USA as domestic producers have plenty of stock on hand, which is forcing imports of Sodium Benzoate from China.

According to ChemAnalyst, the price of Sodium Benzoate is predicted to drop due to a decline in demand from end-use sectors. The product's plenty of inventories and falling raw material costs will also contribute to the Sodium Benzoate price drop.