Asia Pacific Sodium Benzoate Market Forecast to 2028 – COVID

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

Report Code : BMIRE00025631 | Region : Asia Pacific | Industry : Chemicals and Materials | Published Date : 10/Aug/2022

The sodium benzoate market in Asia Pacific is expected to grow from US$ 80,441.10 thousand in 2021 to US$ 1,12,242.87 thousand by 2028; it is estimated to register a CAGR of 4.9% from 2021 to 2028.

The growing cosmetics & personal care sector in Asia Pacific is the major factor driving the growth of the Asia Pacific sodium benzoate market. Rising consumer spending and a growing population are expected to boost the personal care industry growth during the forecast period, aiding the sodium benzoate market. Due to its antimicrobial and antifungal properties, sodium benzoate is used as a preservative in cosmetics and personal care products. The low cost and easy availability of cosmetic and chemical preservatives make them a popular option for most personal care and cosmetic producers.

The demand for halal cosmetics is rising, which is expected to boost the growing preservatives market in the coming years. Sodium benzoate is a corrosion inhibitor, fragrance component, and preservative that is added to a wide range of cosmetics and personal care products. When coupled with caffeine, it can act as sunscreen and antioxidant and give UVB protection. Sodium benzoate is commonly used in hair care products, baby wipes, toothpaste, and mouthwash. The increasing population and rising disposable income worldwide are driving the cosmetics & personal care sector. Thus, the growing cosmetics & personal care industry is creating lucrative growth opportunities for the sodium benzoate market in Asia Pacific.

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

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

Asia Pacific Sodium Benzoate Market Segmentation

The Asia Pacific sodium benzoate market is bifurcated into application and country. Based on application, the Asia Pacific 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 Asia Pacific sodium benzoate market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Further, China 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 Asia Pacific.

At 4.9% CAGR, the Asia Pacific sodium benzoate market is speculated to be worth US$ 1,12,242.87 thousand by 2028, says The Insight Partners

According to The Insight Partners’ research, the Asia Pacific sodium benzoate market was valued at US$ 80,441.10 thousand in 2021 and is expected to reach US$ 1,12,242.87 thousand by 2028, registering an annual growth rate of 4.9% from 2021 to 2028. Growing cosmetics &personal care sector and consuming packaged food and beverages getting popularin various end-use industries are the critical factors attributed to the market expansion.

The rising consumption of packaged food and beverages is attributed to innovations in processing techniques for extending the shelf life of food products. Changes in food consumption patterns bought upon by the increasing working population worldwide are fueling the consumption of packaged food and beverage products. Moreover, due to the ease of purchase, easy availability and transportation, and the ready-to-eat feature, packaged food products are becoming increasingly popular, particularly among the urban population. Packaged products have grown in popularity in recent years due to their hygienic nature. Packaged food products are convenient to use and carry a reduced risk of tampering and adulteration.

Furthermore, since the COVID-19 pandemic erupted, people have been more concerned about their health and consumption patterns. They mostly prefer packaged food and beverage products since they do not come in contact with another person or retailer. Thus, the increasing trend of packaged food and beverages consumption is expected to drive the sodium benzoate market during the forecast period.

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

Based on application, the Asia Pacific sodium benzoate market is segmented into food and beverages, pharmaceuticals, cosmetics, agriculture, and others. Food & beverages held 54.3% market share in 2021, amassing US$ 43,654.84 thousand. It is projected to garner US$ 61,139.05 thousand by 2028 to expand at 4.9% CAGR during 2021–2028.

Our regional analysis states that China captured 62.2% market share in 2021. It was assessed at US$ 50,002.83 thousand in 2021 and is likely to hit US$ 71,698.70 thousand by 2028, exhibiting a CAGR of 5.3% during the forecast period.

Key players dominating the Asia Pacific 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. APAC APAC 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. APAC Sodium Benzoate Market — Key Market Dynamics

5.1 Market Drivers

5.1.1 Sodium Benzoate at High Demand in Food & Beverages Industry

5.1.2 Rising Requirement for Sodium Benzoate in Various End-Use Industries

5.2 Market Restraints

5.2.1 Increasing Safety Concerns Regarding Sodium Benzoate

5.3 Market Opportunities

5.3.1 Growing Cosmetics & Personal Care Sector in APAC Region

5.4 Future Trends

5.4.1 Consuming Packaged Food and Beverages Getting Popular

5.5 Impact Analysis of Drivers and Restraints

6. Sodium Benzoate Market – APAC Analysis

6.1 APAC Sodium Benzoate Market Overview

6.2 APAC Sodium Benzoate Market –Revenue and Forecast to 2028

7. APAC Sodium Benzoate Market Analysis – By Application

7.1 Overview

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

7.3 Food and Beverage

7.3.1 Overview

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

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

7.4 Pharmaceuticals

7.4.1 Overview

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

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

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

7.7 Others

7.7.1 Overview

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

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

8. APAC Sodium Benzoate Market – Country Analysis

8.1 Overview

8.1.1 APAC: Sodium Benzoate Market, by Key Country

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

8.1.1.1.1 Australia: Sodium Benzoate Market, by Application

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

8.1.1.2.1 China: Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

8.1.1.2.2 China: Sodium Benzoate Market, by Application

8.1.1.3 India: Sodium Benzoate Market –Revenue and Forecast to 2028 (US$ Thousand)

8.1.1.3.1 India: Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

8.1.1.3.2 India: Sodium Benzoate Market, by Application

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

8.1.1.4.1 Japan: Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

8.1.1.4.2 Japan: Sodium Benzoate Market, by Application

8.1.1.5 South Korea: Sodium Benzoate Market –Revenue and Forecast to 2028 (US$ Thousand)

8.1.1.5.1 South Korea: Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

8.1.1.5.2 South Korea: Sodium Benzoate Market, by Application

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

8.1.1.6.1 Rest of APAC: Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

8.1.1.6.2 Rest of APAC: 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.             APAC Sodium Benzoate Market –Revenue and Forecast to 2028 (US$ Thousand)

Table 2.             APAC Sodium Benzoate Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)

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

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

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

Table 6.             China Sodium Benzoate Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)

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

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

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

Table 10.          Japan Sodium Benzoate Market, by Application – Revenue and Forecast to 2028 (US$ Thousand)

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

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

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

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

Table 15.          Rest of APAC Sodium Benzoate Market, by Application – Volume and Forecast to 2028 (Tons)

Table 16.          Glossary of Terms, APAC Sodium Benzoate Market

LIST OF FIGURES.

Figure 1.           APAC Sodium Benzoate Market Segmentation

Figure 2.           APAC Sodium Benzoate Market Segmentation – By Country

Figure 3.           APAC Sodium Benzoate Market Overview

Figure 4.           APAC Sodium Benzoate Market, By Application

Figure 5.           APAC 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.           APAC Sodium Benzoate Market Impact Analysis of Drivers and Restraints

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Figure 33.        South Korea: Sodium Benzoate Market –Volume and Forecast to 2028 (Tons)

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

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

The List of Companies - Asia Pacific 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 Asia Pacific 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 Asia Pacific 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 Asia Pacific 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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