The global Sodium Benzoate Exp market volume was roughly 110 thousand tonnes in 2023 and is anticipated to grow at a CAGR of 4.5% during the forecast period until 2034.
In pharmaceutical sector, Sodium Benzoate Exp serves as a versatile ingredient with multiple functions. Firstly, it acts as a preservative, effectively inhibiting microbial growth in oral solutions, syrups, and topical formulations, thereby extending the shelf life of these products. Additionally, Sodium Benzoate is employed as an antifungal agent in various pharmaceutical formulations, safeguarding the integrity of the product and ensuring its efficacy. Its role in preventing fungal contamination enhances the safety and quality of pharmaceutical preparations. Overall, Sodium Benzoate plays a crucial role in maintaining the stability and effectiveness of pharmaceutical products, making it an essential component in the pharmaceutical industry.
As the pharmaceutical industry continues to expand globally, driven by factors such as increasing healthcare expenditure, growing prevalence of chronic diseases, and rising demand for healthcare products, the need for effective preservatives like Sodium Benzoate is also expected to rise. Moreover, stringent regulatory requirements regarding product safety and quality further emphasize the importance of using preservatives to ensure compliance and consumer safety. Therefore, the demand for Sodium Benzoate in the pharmaceutical sector is expected to continue growing as pharmaceutical companies strive to develop and manufacture safe and stable formulations for various therapeutic applications. The global Sodium Benzoate Exp market is likely to reach approximately 175 thousand tonnes in 2034.
Geographically, the Asia Pacific region is the biggest consumer of Sodium Benzoate Exp owing to various reasons. Firstly, the region's burgeoning population, rapid urbanization, and better healthcare facilities contribute to increased consumption of medicines, where Sodium Benzoate is commonly used as a preservative. Additionally, the expanding healthcare industry in countries like China, India, and Southeast Asian nations presents vast opportunities for Sodium Benzoate utilization. Furthermore, the presence of stringent food safety regulations in some Asia Pacific countries encourages the use of Sodium Benzoate to meet compliance standards and ensure product quality and safety.
Based on end-use applications, the global Sodium Benzoate Exp market is divided into Preservative, Antifungal Agent, and Others. Among these industries, Preservative is the major application. Sodium Benzoate serves a dual purpose within the pharmaceutical sector. Firstly, it acts as a preservative in both Over-The-Counter (OTC) and prescription medications, notably in liquid formulations like cough syrup. Furthermore, Sodium Benzoate functions as a lubricant during the manufacturing process of pills, enhancing the smoothness of tablets. This attribute facilitates efficient breakdown upon ingestion, ensuring optimal drug delivery and patient experience.
Major players in the Global Sodium Benzoate Exp market are Ganesh Benzoplast Ltd., Foodchem International Corporation, Avantor Inc., Spectrum Chemicals, Wuhan Youji Industries Co. Ltd., FBC Industries, Inc., Ltd., CellMark AB, A.M. Food Chemical Co. Limited, Hugestone Enterprise Co. Ltd., Penta Chemicals, DuPont de Nemours, Inc., Tulstar Products, Inc., Lanxess AG, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Sodium Benzoate Exp which covers production, demand and supply of Sodium Benzoate Exp market in the globe.
• To analyse and forecast the market size of Sodium Benzoate Exp
• To classify and forecast Global Sodium Benzoate Exp market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Sodium Benzoate Exp market in the globe.
To extract data for Global Sodium Benzoate Exp market, primary research surveys were conducted with Sodium Benzoate Exp manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Sodium Benzoate Exp market over the coming years.
ChemAnalyst calculated Sodium Benzoate Exp demand across the globe by analyzing the volume of Sodium Benzoate Exp consumed by the End-Use Applications and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Sodium Benzoate Exp manufacturers and other stakeholders
• Organizations, forums and alliances related to Sodium Benzoate Exp distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Sodium Benzoate Exp manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Sodium Benzoate Exp market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
110 thousand tonnes
Market size Volume in 2034
175 thousand tonnes
Growth Rate
CAGR of 4.5% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End-Use Application, Demand by Region, Demand by Distribution Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use Application: (Preservative, Antifungal Agent, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Sodium Benzoate Exp market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Sodium Benzoate Exp.
3. Capacity By Location
To better understand the regional supply of Sodium Benzoate Exp by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Sodium Benzoate Exp by the leading players and forecast how it will grow in the coming years.
6. Demand by End-Use Applications
Discover which end-user application (Preservative, Antifungal Agent, and Others) are creating a market and the forecast for the growth of the Sodium Benzoate Exp market.
7. Demand by Region
Analyzing the change in demand of Sodium Benzoate Exp in different regions, i.e., North America, Europe, Asia Pacific, Middle East and Africa, and South America, that can direct you in mapping the regional demand.
8. Demand by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy)
Multiple channels are used to sell Sodium Benzoate Exp. Our Distribution Channel will help in analyzing whether Hospital Pharmacy, Retail Pharmacy, or Online Pharmacy make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Sodium Benzoate Exp.
10. Company Share
Figure out what proportion of the market share of Sodium Benzoate Exp is currently held by leading players across the globe.
11. Manufacturing Process
Discover insights into the intricate manufacturing process of Sodium Benzoate Exp.
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supply of the product in the market at a Global level.
What was the net market size of Sodium Benzoate Exp in terms of volume in 2023?
Ans:
The global market size of Sodium Benzoate Exp has reached approximately 110 thousand tonnes in 2023.
Q2.
Which region is the prominent consumer of Sodium Benzoate Exp?
Ans:
Asia Pacific is the prominent consumer of Sodium Benzoate Exp globally.
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