Europe Sodium Benzoate Market Forecast to 2028 – COVID

Europe Sodium Benzoate Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Application (Food and Beverages, Pharmaceuticals, Cosmetics, Agriculture, and Others)

Report Code : TIPRE00028933 | Region : Europe | Industry : Chemicals and Materials | Published Date : 10/Aug/2022

The sodium benzoate market in Europe is expected to grow from US$ 29,571.41 thousand in 2021 to US$ 39,681.94 thousand by 2028; it is estimated to register a CAGR of 4.3% from 2021 to 2028.

The extensive usage of sodium benzoate in various end-use industries, including food & beverages, pharmaceutical, and cosmetic & personal care, is the major factor driving the growth of the Europe sodium benzoate market. Sodium benzoate is widely used in several end-use industries to maintain product quality, improve product safety, and extend product shelf life. It is utilized as a preservative in various food and beverage products, cosmetics, and medicines. In the food & beverage industry, sodium benzoate is required to prevent spoilage from harmful microorganisms, such as bacteria, yeasts, and molds. It also helps maintain the freshness and shelf life of food.

Sodium benzoate is utilized to treat urea cycle problems due to its ability to bind amino acids. As a result, these amino acids are excreted, accounting for a decline in ammonia levels. It also finds application as an antimicrobial preservative, antifungal, and lubricant for tablets and capsules. Sodium benzoate is often used as a preservative in liquid medicines such as cough syrup. It is applied in fireworks as a fuel in whistle mix, a powder that emits a whistling noise when compressed into a tube and ignited. It is used to deter corrosion in coolants for car engines and antifreeze products. In agriculture, sodium benzoate is used as a feed additive with anti-mold and antifungal properties, compatible with lactic acid bacteria added during ensiling. Furthermore, it may be found in nonconsumable cosmetic items such as toothpaste, mouthwash, and various types of hair care products. Sodium benzoate acts as a corrosion inhibitor, fragrance component, and preservative in a wide range of cosmetics and personal care products. Thus, the increasing demand for sodium benzoate across various end-use industries is propelling the market growth.

With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe sodium benzoate market. The Europe sodium benzoate market is expected to grow at a notable CAGR during the forecast period.

Europe Sodium Benzoate Market Revenue and Forecast to 2028 (US$ Thousand)

Europe Sodium Benzoate Market Segmentation

The Europe sodium benzoate market is bifurcated into application and country. Based on application, the Europe sodium benzoate market is segmented into food and beverages, pharmaceuticals, cosmetics, agriculture, and others. In 2021, the food and beverages segment accounted for the largest revenue share. Based on country, the Europe sodium benzoate market is segmented into France, Germany, Italy, the UK, Turkey, Russia, and the Rest of Europe. Further, the Rest of Europe held the largest market share in 2021.

A.M FOOD CHEMICAL CO., LIMITED; Akema S.r.l.; Eastman Chemical Company; Foodchem International Corporation; Jarchem Innovative Ingredients LLC; LANXESS; MERCK KGaA; and Zancheng Life Sciences Ltd. are among the leading companies operating in the sodium benzoate market in Europe

At 4.3% CAGR, the Europe sodium benzoate market is speculated to be worth US$ 39,681.94 thousand by 2028, says The Insight Partners

According to The Insight Partners’ research, the Europe sodium benzoate market was valued at US$ 29,571.41 thousand in 2021 and is expected to reach US$ 39,681.94 thousand by 2028, registering an annual growth rate of 4.3% from 2021 to 2028. Rising Demand for sodium benzoate in food & beverages industry and significant requirement for sodium benzoate in various end-use industries are the critical factors attributed to the market expansion.

Sodium benzoate is the sodium salt of benzoic acid. It is widely used as a food preservative and a pickling agent in the food & beverages industry. It is generally recognized as safe by the Food and Drug Administration (FDA) and allows up to a 0.1% concentration by weight when used in foods. Sodium Benzoate is used in acidic foods such as salad dressings, carbonated drinks, pickles, jams and fruit juices, condiments, and frozen yogurt toppings to prevent spoilage caused by harmful micro-organisms such as harmful bacteria, yeasts, and molds. It also helps maintain freshness in food by slowing down or preventing color, flavor, PH, and texture changes. Moreover, it acts as a bacteriostatic and fungistatic preservative in soft drinks and other beverages, which increases the acidic flavor and extend the product's shelf life. Sodium benzoate is commonly used as a preservative to protect the taste. The Coca-Cola Company also uses it as an antimicrobial agent in Coca-Cola drinks.

The Europe food & beverages industry is growing at a rapid pace. People consume packaged food products due to their hectic lifestyles, busy work schedules, and high disposable incomes. People prefer on-the-go consumption of food and beverages to minimize the time required for preparing food at home. Moreover, packaged food products are growing in popularity among young consumers are they are convenient to consume and have significant nutritional value. These factors are driving the demand for sodium benzoate across the food & beverages industry.

On the contrary, rise in various safety concerns related to sodium benzoate hurdles the growth of Europe sodium benzoate market.

Based on application, the Europe sodium benzoate market is segmented into food and beverages, pharmaceuticals, cosmetics, agriculture, and others. Food & beverages held 55.9% market share in 2021, amassing US$ 16,539.48 thousand. It is projected to garner US$ 22,293.88 thousand by 2028 to expand at 4.4% CAGR during 2021–2028.

Our regional analysis states that the Rest of Europe captured 27.5% market share in 2021. It was assessed at US$ 8,127.29 thousand in 2021 and is likely to hit US$ 10,540.86 thousand by 2028, exhibiting a CAGR of 4.1% during the forecast period.

Key players dominating the Europe sodium benzoate market are A.M FOOD CHEMICAL CO., LIMITED; Akema S.r.l.; Eastman Chemical Company; Foodchem International Corporation; Jarchem Innovative Ingredients LLC; LANXESS; MERCK KGaA; and Zancheng Life Sciences Ltd.

In 2020, Foodchem has developed an energy drink product. In 2022, Warby Parker partners with Eastman to launch new demo lens molecular recycling program.

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Scope of the Study

3.2 Research Methodology

3.2.1 Data Collection

3.2.2 Primary Interviews

3.2.3 Hypothesis Formulation

3.2.4 Macro-economic Factor Analysis

3.2.5 Developing Base Number

3.2.6 Data Triangulation

3.2.7 Country Level Data

4. Europe Sodium Benzoate Market Landscape

4.1 Market Overview

4.2 Porter's Five Forces Analysis

4.2.1 Bargaining Power of Suppliers:

4.2.2 Bargaining Power of Buyers:

4.2.3 Threat of New Entrants:

4.2.4 Competitive Rivalry:

4.2.5 Threat of Substitutes:

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. Europe Sodium Benzoate Market — Key Market Dynamics

5.1 Market Drivers

5.1.1 Demand for Sodium Benzoate in Food & Beverages Industry Rising

5.1.2 Sodium Benzoate Being Widely Used in Various End-Use Industries

5.2 Market Restraints

5.2.1 Growing Safety Concerns Regarding Sodium Benzoate

5.3 Market Opportunities

5.3.1 Significant Growth of Cosmetics & Personal Care Sector

5.4 Future Trends

5.4.1 Rising Trend of Consuming Packaged Food and Beverages

5.5 Impact Analysis of Drivers and Restraints

6. Sodium Benzoate Market – Europe Analysis

6.1 Europe Sodium Benzoate Market Overview

6.2 Europe Sodium Benzoate Market –Revenue and Forecast to 2028

7. Europe Sodium Benzoate Market Analysis – By Application

7.1 Overview

7.2 Europe Sodium Benzoate Market Breakdown, by Application, 2020 and 2028

7.3 Food and Beverage

7.3.1 Overview

7.3.2 Food and Beverage: Europe Sodium Benzoate Market – Revenue and Forecast to 2028 (US$ Thousand)

7.3.3 Food and Beverage: Europe Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

7.4 Pharmaceuticals

7.4.1 Overview

7.4.2 Pharmaceuticals: Europe Sodium Benzoate Market – Revenue and Forecast to 2028 (US$ Thousand)

7.4.3 Pharmaceuticals: Europe Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

7.5 Cosmetics

7.5.1 Overview

7.5.2 Cosmetics: Sodium Benzoate Market – Revenue and Forecast to 2028 (US$ Thousand)

7.5.3 Cosmetics: Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

7.6 Agriculture

7.6.1 Overview

7.6.2 Agriculture: Europe Sodium Benzoate Market – Revenue and Forecast to 2028 (US$ Thousand)

7.6.3 Agriculture: Europe Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

7.7 Others

7.7.1 Overview

7.7.2 Others: Europe Sodium Benzoate Market – Revenue and Forecast to 2028 (US$ Thousand)

7.7.3 Others: Europe Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

8. Europe Sodium Benzoate Market – Country Analysis

8.1 Overview

8.1.1 Europe: Sodium Benzoate Market, by Key Country

8.1.1.1 Germany: Sodium Benzoate Market–Revenue and Forecast to 2028 (US$ Thousand)

8.1.1.1.1 Germany: Sodium Benzoate Market, by Application

8.1.1.2 France: Sodium Benzoate Market–Revenue and Forecast to 2028 (US$ Thousand)

8.1.1.3 France: Sodium Benzoate Market–Volume and Forecast to 2028 (Tons)

8.1.1.3.1 France: Sodium Benzoate Market, by Application

8.1.1.4 Italy: Sodium Benzoate Market–Revenue and Forecast to 2028 (US$ Thousand)

8.1.1.5 Italy: Sodium Benzoate Market–Volume and Forecast to 2028 (Tons)

8.1.1.5.1 Italy: Sodium Benzoate Market, by Application

8.1.1.6 United Kingdom: Sodium Benzoate Market–Revenue and Forecast to 2028 (US$ Thousand)

8.1.1.6.1 United Kingdom: Sodium Benzoate Market–Volume and Forecast to 2028 (Tons)

8.1.1.6.2 United Kingdom: Sodium Benzoate Market, by Application

8.1.1.7 Russia: Sodium Benzoate Market–Revenue and Forecast to 2028 (US$ Thousand)

8.1.1.7.1 Russia: Sodium Benzoate Market–Volume and Forecast to 2028 (Tons)

8.1.1.7.2 Russia: : Sodium Benzoate Market, by Application

8.1.1.8 Turkey: Sodium Benzoate Market–Revenue and Forecast to 2028 (US$ Thousand)

8.1.1.8.1 Turkey: Sodium Benzoate Market–Volume and Forecast to 2028 (Tons)

8.1.1.8.2 Turkey: Sodium Benzoate Market, by Application

8.1.1.9 Rest of Europe: Sodium Benzoate Market –Revenue and Forecast to 2028 (US$ Thousand)

8.1.1.9.1 Rest of Europe: Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

8.1.1.9.2 Rest of Europe: Sodium Benzoate Market, by Application

9. Industry Landscape

9.1 Overview

9.2 Market Initiative

9.3 New Product Development

9.4 Merger and Acquisition

10. Company Profiles

10.1 Eastman Chemical Company

10.1.1 Key Facts

10.1.2 Business Description

10.1.3 Products and Services

10.1.4 Financial Overview

10.1.5 SWOT Analysis

10.1.6 Key Developments

10.2 Foodchem International Corporation

10.2.1 Key Facts

10.2.2 Business Description

10.2.3 Products and Services

10.2.4 Financial Overview

10.2.5 SWOT Analysis

10.2.6 Key Developments

10.3 A.M FOOD CHEMICAL CO., LIMITED

10.3.1 Key Facts

10.3.2 Business Description

10.3.3 Products and Services

10.3.4 Financial Overview

10.3.5 SWOT Analysis

10.3.6 Key Developments

10.4 Jarchem Innovative Ingredients LLC

10.4.1 Key Facts

10.4.2 Business Description

10.4.3 Products and Services

10.4.4 Financial Overview

10.4.5 SWOT Analysis

10.4.6 Key Developments

10.5 LANXESS

10.5.1 Key Facts

10.5.2 Business Description

10.5.3 Products and Services

10.5.4 Financial Overview

10.5.5 SWOT Analysis

10.5.6 Key Developments

10.6 MERCK KGaA

10.6.1 Key Facts

10.6.2 Business Description

10.6.3 Products and Services

10.6.4 Financial Overview

10.6.5 SWOT Analysis

10.6.6 Key Developments

10.7 Akema S.R.L.

10.7.1 Key Facts

10.7.2 Business Description

10.7.3 Products and Services

10.7.4 Financial Overview

10.7.5 SWOT Analysis

10.7.6 Key Developments

10.8 Zancheng Life Sciences Ltd.

10.8.1 Key Facts

10.8.2 Business Description

10.8.3 Products and Services

10.8.4 Financial Overview

10.8.5 SWOT Analysis

10.8.6 Key Developments

11. Appendix

11.1 About The Insight Partners

11.2 Glossary of Terms

LIST OF TABLES.

Table 1.             Europe Sodium Benzoate Market –Revenue and Forecast to 2028 (US$ Thousand)

Table 2.             Europe Sodium Benzoate Market, by Application – Revenue and Forecast to 2028 (USD Thousand)

Table 3.             Europe Sodium Benzoate Market, by Application – Volume and Forecast to 2028 (Tons)

Table 4.             Germany Sodium Benzoate Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)

Table 5.             Germany Sodium Benzoate Market, by Application – Volume and Forecast to 2028 (Tons)

Table 6.             France Sodium Benzoate Market, by Application – Revenue and Forecast to 2028 (USD Thousand)

Table 7.             France Sodium Benzoate Market, by Application – Volume and Forecast to 2028 (Tons)

Table 8.             Italy Sodium Benzoate Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)

Table 9.             Italy Sodium Benzoate Market, by Application – Volume and Forecast to 2028 (Tons)

Table 10.          United Kingdom Sodium Benzoate Market, by Application – Revenue and Forecast to 2028 (USD Thousand)

Table 11.          United Kingdom Sodium Benzoate Market, by Application – Volume and Forecast to 2028 (Tons)

Table 12.          Russia : Sodium Benzoate Market, by Application– Revenue and Forecast to 2028 (US$ Thousand)

Table 13.          Russia: Sodium Benzoate Market, by Application– Volume and Forecast to 2028 (Tons)

Table 14.          Turkey: Sodium Benzoate Market, by Application– Revenue and Forecast to 2028 (US$ Thousand)

Table 15.          Turkey: Sodium Benzoate Market, by Application– Volume and Forecast to 2028 (Tons)

Table 16.          Rest of Europe Sodium Benzoate Market, by Application – Revenue and Forecast to 2028 (USD Thousand)

Table 17.          Rest of Europe Sodium Benzoate Market, by Application – Volume and Forecast to 2028 (Tons)

Table 18.          Glossary of Terms, Europe Sodium Benzoate Market

LIST OF FIGURES.

Figure 1.           Europe Sodium Benzoate Market Segmentation

Figure 2.           Europe Sodium Benzoate Market Segmentation – By Country

Figure 3.           Europe Sodium Benzoate Market Overview

Figure 4.           Europe Sodium Benzoate Market, By Application

Figure 5.           Europe Sodium Benzoate Market, By Country

Figure 6.           Porter's Five Forces Analysis

Figure 7.           Ecosystem Chain: Sodium Benzoate Market

Figure 8.           Expert Opinion

Figure 9.           Europe Sodium Benzoate Market Impact Analysis of Drivers and Restraints

Figure 10.        Europe: Sodium Benzoate Market – Revenue and Forecast to 2028 (US$ Thousand)

Figure 11.        Europe Sodium Benzoate Market Breakdown, by Application, 2020 and 2028

Figure 12.        Europe Food and Beverage: Sodium Benzoate Market – Revenue and Forecast to 2028 (US$ Thousand)

Figure 13.        Europe Food and Beverage: Europe Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

Figure 14.        Europe Pharmaceuticals: Sodium Benzoate Market – Revenue and Forecast to 2028 (US$ Thousand)

Figure 15.        Europe Pharmaceuticals: Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

Figure 16.        Europe Cosmetics: Sodium Benzoate Market – Revenue and Forecast to 2028 (US$ Thousand)

Figure 17.        Europe Cosmetics: Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

Figure 18.        Europe Agriculture: Sodium Benzoate Market – Revenue and Forecast to 2028 (US$ Thousand)

Figure 19.        Europe Agriculture: Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

Figure 20.        Europe Others: Sodium Benzoate Market – Revenue and Forecast to 2028 (US$ Thousand)

Figure 21.        Europe Others: Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

Figure 22.        Europe: Sodium Benzoate Market, by Key Country– Revenue (2020) (US$ Thousand)

Figure 23.        Europe: Sodium Benzoate Market Revenue Share, by Key Country (2020 and 2028)

Figure 24.        Germany: Sodium Benzoate Market–Revenue and Forecast to 2028 (US$ Thousand)

Figure 25.        Germany: Sodium Benzoate Market–Volume and Forecast to 2028 (Tons)

Figure 26.        France: Sodium Benzoate Market–Revenue and Forecast to 2028 (US$ Thousand)

Figure 27.        France: Sodium Benzoate Market– Volume and Forecast to 2028 (Tons)

Figure 28.        Italy: Sodium Benzoate Market–Revenue and Forecast to 2028 (US$ Thousand)

Figure 29.        Italy: Sodium Benzoate Market– Volume and Forecast to 2028 (Tons)

Figure 30.        United Kingdom: Sodium Benzoate Market–Revenue and Forecast to 2028 (US$ Thousand)

Figure 31.        United Kingdom: Sodium Benzoate Market–Volume and Forecast to 2028 (Tons)

Figure 32.        Russia: Sodium Benzoate Market–Revenue and Forecast to 2028 (US$ Thousand)

Figure 33.        Russia: Sodium Benzoate Market– Volume and Forecast to 2028 (US$ Tons)

Figure 34.        Turkey: Sodium Benzoate Market–Revenue and Forecast to 2028 (US$ Thousand)

Figure 35.        Turkey: Sodium Benzoate Market–Volume and Forecast to 2028 (Tons)

Figure 36.        Rest of Europe: Sodium Benzoate Market –Revenue and Forecast to 2028 (US$ Thousand)

Figure 37.        Rest of Europe: Sodium Benzoate Market – Volume and Forecast to 2028 (Tons)

The List of Companies - Europe Sodium Benzoate Market

● A.M FOOD CHEMICAL CO., LIMITED

● Akema S.r.l.

● Eastman Chemical Company

● Foodchem International Corporation

● Jarchem Innovative Ingredients LLC

● LANXESS

● MERCK KGaA

● Zancheng Life Sciences Ltd.

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe sodium benzoate market

● Highlights key business priorities in order to assist companies to realign their business strategies

● The key findings and recommendations highlight crucial progressive industry trends in the Europe sodium benzoate market, thereby allowing players across the value chain to develop effective long-term strategies

● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

● Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the sodium benzoate market, as well as those hindering it

● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

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