Persistence Market Research is released upcoming report on title "Sodium Benzoate Market: Global Industry Analysis and Forecast 2014 - 2020".
New York, NY -- (SBWIRE) -- 04/16/2015 -- Sodium benzoate is a sodium salt of benzoic acid which exists when dissolved in water. It is one of the most widely consumed food preservative which is produced by the reaction of benzoic acid with sodium hydroxide. Benzoic acid naturally occurs at low levels in apples, ripe cloves, prunes, cinnamon and cranberries. It is also developed by the addition of benzoic acid to a hot concentrated sodium carbonate solution until the ceasing of effervescence, which is then evaporated, cooled and crystallized or evaporated to dryness, and then granulated. Sodium benzoate is used in a wide range of applications such as preservatives, corrosion inhibitors, fireworks and pharmaceuticals among others. Asia Pacific was the largest consumer for sodium benzoate, with China being the largest consumer in the world. It was followed by matured regions such as Europe and North America majorly due to demand for industrial chemicals and food preservatives.
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The global market for sodium benzoate has been witnessing a significant increase on account of growing demand from its application industries. Increasing consumption of sodium benzoate in food preservatives has been primarily due to growing use of preservatives as packed beverages and food continue to gain in availability and popularity. The market potential for sodium benzoate in food and beverages has been significant. Various factors such as changing lifestyles, particularly in emerging regions such as Asia Pacific, rising concerns for food safety and longer shelf lives as more ready to drink and food beverages are being consumed are expected to contribute towards the demand for sodium benzoate. Moreover, growing urbanization coupled with rising popularity of ready to drink beverages and processed foods is also anticipated to boost the demand for sodium benzoate over the next few years. Other than preservatives, sodium benzoate is significantly used in pharmaceuticals in the treatment of urea cycle disorders owing to its ability to bind amino acids, which leads to a decrease in ammonia levels and excretion of the amino acids. Moreover, growing use of sodium benzoate in schizophrenia as an add-on therapy has also contributed towards the growth of the market. It is also used in whistle mix as a fuel, a powder when compressed into a tube and ignited, emits a whistling noise. The fuel consumed is one of the fastest burning rocket fuels which provides significant amount of smoke and thrust.
Growing demand for sodium benzoate in food preservatives is expected to one of the major growth factors for the market. Sodium benzoate is widely consumed in acidic foods such as vinegar, carbonic acid, fruit juices, jams, and condiments. Its use as a pharmaceutical preservative in cosmetics and medicine is also expected to contribute towards the growing demand for sodium benzoate over the forecast period. However, rising health concerns regarding the consumption of sodium benzoate when combined with ascorbic acid in beverages is expected to hamper the growth of the market. When combined with ascorbic acid, potassium benzoate and sodium benzoate produce carcinogen which has been considered dangerous for consumption by the World Health Organization (WHO). Focus on research and development activities for developing innovative products as well focus of manufacturers on expansion in various emerging economies such as India is expected to provide new opportunities for the growth of the market.
Akzo Nobel N.V., DuPont, Eastman Chemical Company, and Sodium Aldrich Corporation are some of the key players in sodium benzoate market present in the industry.
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Key points covered in the report:
1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation
3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
The report also provides porters five forces analysis of the market.
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