South America Sodium Benzoate Market Forecast to 2028 – COVID

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

Report Code : BMIRE00025634 | Region : LAMEA | Industry : Chemicals and Materials | Published Date : 10/Aug/2022

The sodium benzoate market in SAM is expected to grow from US$ 2,377.91 thousand in 2021 to US$ 2,817.76 thousand by 2028; it is estimated to register a CAGR of 2.5% from 2021 to 2028.

The changing economic conditions in SAM due to the growth of the food & beverage industry provide significant growth prospects for the sodium benzoate market. The growth of the agriculture industry is also driving the market growth. SAM is widely known for its food & beverages, agricultural, and industrial growth. Sodium benzoate is used as a preservative in the food & beverage and agriculture industries. The sodium benzoate market is projected to witness high growth due to its use in end-use industries such as food & beverages, pharmaceuticals, agriculture, and personal care & cosmetics.

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

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

SAM Sodium Benzoate Market Segmentation

The SAM sodium benzoate market is segmented into application and country. Based on application, the SAM 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 SAM sodium benzoate market is segmented into Brazil, Argentina, and the Rest of SAM. Further, Brazil held the largest market share in 2021.

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

At 2.5% CAGR, the SAM sodium benzoate market is speculated to be worth US$ 2817.76 thousand by 2028, says The Insight Partners

According to The Insight Partners’ research, the SAM sodium benzoate market was valued at US$ 2377.91 thousand in 2021 and is expected to reach US$ 2817.76 thousand by 2028, registering an annual growth rate of 2.5% 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.

Rising consumer spending and growing population are expected to boost the personal care industry growth during the forecast period, aiding the sodium benzoate market. Sodium benzoate is used as a preservative in cosmetics and personal care products due to its antimicrobial and antifungal properties. 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 build a proper base for the growing preservatives market in the coming years. Sodium benzoate is a corrosion inhibitor, fragrance component, and preservative included in 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. Increasing population and rising disposable income worldwide are driving the cosmetics & personal care sector. Thus, the growing cosmetics & personal care industry worldwide is creating lucrative growth opportunities for the sodium benzoate market.

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

Based on application, the SAM sodium benzoate market is segmented into food and beverages, pharmaceuticals, cosmetics, agriculture, and others. Food & beverages held 62.9% market share in 2021, amassing US$ 2,813.71 thousand. It is projected to garner US$ 3470.14 thousand by 2028 to expand at 3.0% CAGR during 2021–2028.

Our regional analysis states that the Rest of SAM captured 37.2% market share in 2021. It was assessed at US$ 1662.41 thousand in 2021 and is likely to hit US$ 1976.92 thousand by 2028, exhibiting a CAGR of 2.5% during the forecast period.

Key players dominating the SAM sodium benzoate market are A.M FOOD CHEMICAL CO., LIMITED; Akema S.r.l.; Eastman Chemical Company; 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. SAM 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. SAM Sodium Benzoate Market — Key Market Dynamics

5.1 Market Drivers

5.1.1 Food & Beverages Industry Raising the Demand for Sodium Benzoate

5.1.2 Various End-Use Industries at High Need of for Sodium Benzoate

5.2 Market Restraints

5.2.1 Various Safety Concerns Regarding Sodium Benzoate

5.3 Market Opportunities

5.3.1 SAM Region Witnessing Growth in Cosmetics & Personal Care Sector

5.4 Future Trends

5.4.1 Rising Popularity of Consuming Packaged Food and Beverages

5.5 Impact Analysis of Drivers and Restraints

6. Sodium Benzoate Market – SAM Analysis

6.1 SAM Sodium Benzoate Market Overview

6.2 SAM Sodium Benzoate Market –Revenue and Forecast to 2028

7. SAM Sodium Benzoate Market Analysis – By Application

7.1 Overview

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

7.3 Food and Beverage

7.3.1 Overview

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

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

7.4 Pharmaceuticals

7.4.1 Overview

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

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

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

7.7 Others

7.7.1 Overview

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

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

8. SAM Sodium Benzoate Market – Country Analysis

8.1 Overview

8.1.1 SAM: Sodium Benzoate Market, by Key Country

8.1.1.1 Brazil: Sodium Benzoate Market–Analysis and Forecast to 2028 (US$ Thousand)

8.1.1.1.1 Brazil: Sodium Benzoate Market, by Application

8.1.1.2 Argentina: Sodium Benzoate Market–Analysis and Forecast to 2028 (US$ Thousand)

8.1.1.2.1 Argentina: Sodium Benzoate Market, by Application

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

8.1.1.3.1 Rest of SAM: 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 A.M FOOD CHEMICAL CO., LIMITED

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 Jarchem Innovative Ingredients LLC

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 LANXESS

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 MERCK KGaA

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 Akema S.R.L.

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 Zancheng Life Sciences Ltd.

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

11. Appendix

11.1 About The Insight Partners

11.2 Glossary of Terms

LIST OF TABLES.

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

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

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

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

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

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

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

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

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

Table 10.          Glossary of Terms, SAM Sodium Benzoate Market

LIST OF FIGURES.

Figure 1.           SAM Sodium Benzoate Market Segmentation

Figure 2.           SAM Sodium Benzoate Market Segmentation – By Country

Figure 3.           SAM Sodium Benzoate Market Overview

Figure 4.           SAM Sodium Benzoate Market, By Application

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

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

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

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

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

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

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

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

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

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

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

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

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

Figure 22.        SAM: Sodium Benzoate Market – Revenue (2020) (US$ Thousand)

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

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

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

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

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

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

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

The List of Companies - South America Sodium Benzoate Market

● A.M FOOD CHEMICAL CO., LIMITED

● Akema S.r.l.

● Eastman Chemical Company

● 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 SAM 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 SAM 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 SAM 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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