The scope of our recent study on the "Sodium Bicarbonate Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Grade, Form, and End User," includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

The sodium bicarbonate market is expected to grow from US$ 1596.37 million in 2021 to US$ 2133.33 million by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028. Sodium bicarbonate is manufactured using raw materials such as carbon dioxide (CO2), aqueous sodium hydroxide (NaOH) solution, and water. The Solvay process is commonly used for the production of sodium bicarbonate. Sodium bicarbonate is least likely to occur in the form of minerals that can be mined and processed. It is found in a natural mineral form i.e. nahcolite deposits.

Based on end user, the global market is segmented into food & beverages, pharmaceutical, agriculture, chemical, cosmetic & personal care, textile & leather, homecare, and others. In 2021, the food & beverages segment held the largest market share. Sodium bicarbonate is an essential ingredient in the food & beverages industry. In the bakery & confectionery industries, it is used as a leavening agent, effervescent agent, and pH buffer. Further, sodium bicarbonate is a valuable buffer and neutralizer in beverages. The increasing demand for high-quality fresh baked goods is propelling the sodium bicarbonate market growth globally for the food & beverages segment.

The global market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. In 2021, Asia Pacific held the largest revenue share of the global sodium bicarbonate market. It is one of the prominent markets for the utilization of sodium bicarbonate in the bakery & agriculture industry. Moreover, sodium bicarbonate is widely used in aquaculture to maintain water's pH levels. According to Asian Development Bank, the Asian region accounts for 88% of world aquaculture production. Further, the key players operating in the Asia Pacific sodium bicarbonate market are investing heavily in R&D initiatives.

Impact of COVID-19 Pandemic on Sodium Bicarbonate Market

Many economies were affected due to the COVID-19 outbreak. The pandemic has created a temporary distortion in operation efficiencies of industrial bases. The market for sodium bicarbonate has been negatively impacted due to disruptions in the supply chain. The COVID-19 outbreak has resulted in a sharp decrease in the number of visitors to food outlets, which were shut down, leading to increased retail sales of bread for home consumption. Various industries are recovering after the lifting of lockdown measures. As the countries are reopening their economies, the demand for sodium bicarbonate is expected to rise in the coming months.

The report includes the segmentation of the global sodium bicarbonate market as follows:

Based on grade, the global sodium bicarbonate market is segmented into food grade, pharmaceutical grade, feed grade, and technical grade and others. Based on form, the market is bifurcated into powder and liquid. Based on end user, the market is segmented into food & beverages, pharmaceutical, agriculture, chemical, cosmetic & personal care, textile & leather, homecare, and others. By geography, the global sodium bicarbonate market is broadly segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, the UK, Italy, Russia, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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