Bicarbonate Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1784
Bicarbonate Market size will register decent CAGR in the forecast time frame. The product is a chemical compound and a major element in human body and is necessary for digestion system. It plays a vital role in balancing acid and base in humans, it participates in first line of the protective and repair mechanism. The compound is naturally produced by human gastric membrane in the stomach to respond instantly to acidity. In a healthy body system, this mechanism will control the PH level.
Driving factor in bicarbonate market includes its positive impact on human body system, it prevents the system from various diseases such as rental stones. It is present in natural water or spring water in excess amount. The compound’s health benefits on body is increasing its demand. It acts as a buffer and maintains the pH level of the blood from becoming too basic or too acidic. It is excellent for heartburn, indigestion and constipation.
Pharmaceutical industry will grow at over 5% CAGR in near future and is expected to boost bicarbonate market. The acid is widely used pharmaceutical product, it is consumed by patients for various acidic issues. Increasing rate of acidity, indigestion and heartburn is propelling the usage of medicines and positively influencing bicarbonate market.
Changing lifestyle and food habits of individuals are further contributing to the market. Large number of people are consuming spicy food worldwide, that is increasing their PH level disorders and other chronic diseases. The compound is formed in human body for preventing its side effects, it is also consumed by many individuals in the form of medicines. Flourishing packaged food & beverage industry owing to demand for ready to eat and ready to cook food is projected to fuel bicarbonate market.
Restrains in bicarbonate market include its ill effect on consumers. The product can cause continued headache, loss of appetite, muscle pain or twitching, slow breathing, restlessness and vomiting. Rising consumer awareness regarding side effects of the compound is impacting its demand. Other factors hampering the growth of the product is increasing health consciousness amongst people, healthy food habits and exercising.
Bicarbonate market is segmented based on form such as white crystal, powder, wet solid and liquid. They are used in various industries including food & beverages, petroleum, chemical, agriculture and pharmaceuticals. On the basis of applications, it is classified into additives, solvents, leavening agents and household.
North America, headed by US is world’s most important pharmaceutical industry. It contributes nearly 35% of the global pharmaceutical industry hosting giant companies in medical industry on a global basis. The product is widely used in medicines to prevent acidity, indigestion and heartburn.
Surging pharmaceutical industry will significantly propel bicarbonate market in the forecast period. Bhutan widely consumes spicy food such that national dish of the country solely consists of chilies and cheese. Chilies in the region is considered as vegetable instead of flavor enhancer. With the increase in consumption of spicy food in the region, product demand is rising in Asia Pacific.
Europe led by Spain will witness decent growth in the bicarbonate market owing to its highest consumption of mineral water globally. The product is a basic ingredient in mineral water, water purification companies blend the compound in the process to enhance water’s calcium, potassium and magnesium content. Increasing consumption of mineral water will propel product usage.
Key contributors in bicarbonate market are Asahi, Hailian Sanyii, Shandong Haihua Group, Novacarb, Solvay, Tata Chemicals, Tosoh Corporation, Inner Mangolia Yuanxing, Xuyue and Vitro. Tata Chemicals acquired British Salt in 2010, the aim of acquisition was promising business model that has a potential to generate additional cash flow for the company and to expand its shares and position in diversified field for expansion and growth.
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