Sodium Bicarbonate Market Size

Sodium Bicarbonate Market Size

Sodium Bicarbonate Market size estimated at USD 1.2 billion in 2018 and will grow at a CAGR of more than 5% from 2019 to 2024.

The market growth will be driven by increasing demand for convenience food across the globe due to busy and fast-paced lifestyle. A study says, Americans are preferring processed edible items over freshly baked products, which has significantly reduced the prices of food product over past few years. The consumers are choosing edible products which are ready to eat or take less time to cook or bake. The above mentioned trends will boost the convenience food sector and is likely to drive the sodium bicarbonate market size in future. The food industry uses sodium bicarbonate as an additive to regulate acidity, protect anti-caking, and enhance product shelf-life. The product is used in a wide range of products including confectioneries, ciders, dairy, cereals, increasing the volume of cakes, wafers, and crackers will drive the market. Usage of sodium bicarbonate in agrochemical is driven by practice of treating insects in farmlands and washing pesticides from fruits & vegetables. Furthermore, it is environment friendly natural agent therefore used in the form of pesticides in agricultural farm which will accelerate sodium bicarbonate market demand over the coming years.
 

The government authorization and approval in various countries are favoring the growth of sodium bicarbonate. For instance, the European Union has devised E500(ii) and registered sodium bicarbonate as a food ingredient, which is used as the raising agent. E numbers are the codes for the substance that are permitted to be used as a food additive, for use in the European Union or European Free Trade Association. In addition, the government has demonstrated its characteristics and functions for proper utilization of the product. Similarly, in the U.S., the Federal regulatory authorities have declared sodium bicarbonate as an ingredient through section 184.1736, permitting the use of sodium bicarbonate in flood flavorings, food enzymes, and additives. Therefore, the sodium bicarbonate market will accelerate in the coming years due to government support and increasing applications in the food industry.
 

The product is an antacid that helps in treating diseases related to kidney, diabetes, cancer, and asthma. The product is used in pharmacies and hospitals for treating toxic substances in the body. There are certain unwanted effects related to human health on the consumption of drugs that contain sodium bicarbonate The product is not recommended for treating serious illnesses as any medicine containing sodium bicarbonate may cause certain medical emergencies. One of the major substitutes of sodium bicarbonate is yeast. Strong applications in food & beverages owing to the shift in consumer preferences toward international cuisines are favoring the growth of yeast. The above-mentioned factors may hinder the sodium bicarbonate market growth in forecast spell.