About this market
Growing demand for detergents to drive growth in the market. The detergent sector is one of the emerging end-users of sodium bicarbonate. Hence, the growing demand for detergents will have a subsequent impact on the demand for sodium bicarbonate. The analysts have predicted that the sodium bicarbonate market will register a CAGR of close to 2% by 2023.
Market Overview
Growing demand from food and beverage industry
Sodium bicarbonate is predominantly used in the food and beverage industry in the preparation of wide variety of food products such as cakes, pancakes, rolls, muffins, cookies, soda breads, breads, soft drinks, and other baked and fried foods.
Threat of substitutes
Sodium bicarbonate can be easily substituted by sodium acetate, potassium bicarbonate, sodium carbonate, yeast, sodium borate, and others.
For the detailed list of factors that will drive and challenge the growth of the sodium bicarbonate market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Solvay and Tata Chemicals the competitive environment is quite intense. Factors such as the rising demand from food and beverage industry and the growing demand for detergents, will provide considerable growth opportunities to sodium bicarbonate manufactures. AGC, Church & Dwight, Novacap, Solvay, and Tata Chemicals are some of the major companies covered in this report.