Sellbyville, DE -- (SBWIRE) -- 04/24/2020 -- Global Market Insights, Inc., forecasts that global sodium bicarbonate market size will be worth over US$9 billion by 2024, with strong demand in food & beverage and personal care sectors and rising penetration in the agrochemical industry. Shifting consumer focus towards the use of high-quality grooming and personal care products will foster the overall business expansion.

Sodium bicarbonate, commonly known as baking soda, is anticipated to witness growing demand in cosmetic and personal care formulations. The compound has excellent neutralizing and soothing properties. It is widely used to manufacture perfumes, deodorants, and mouth cleansers owing to its absorbent and antimicrobial characteristics.

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The past few years have witnessed a considerable shift in people's eating habits. An increasing number of people have introduced meat, fish, and dairy products into their diets. However, this has led to higher body pH levels. The consumption of baking soda helps regulate alkaline levels of the human body. It is also an essential ingredient in bakery products.

In terms of the end-user, the food & beverage segment, which is among the fastest-growing markets for sodium bicarbonate, will experience a CAGR of 5.3% through 2024. Sodium bicarbonate is mainly available in crystal/powdered crystal, liquid, and slurry forms. The crystal or powdered crystal form is prominently used in food & beverage and several end-use sectors.

The crystal or powdered crystal segment will witness a CAGR of 5.5% during the analysis period. On the other hand, the liquid form of sodium bicarbonate is mostly used in pharmaceutical applications. The liquid product segment is slated to grow at 4.6% up to 2024.

Rapid urbanization in China and India is fueling the growth of several end-use industries in Asia Pacific. The region is projected to record a healthy 5.7% CAGR over the study period. In addition, a growing population and the surging food demand is propelling the demand for agrochemicals like insecticides and pesticides. Followed by Asia Pacific, Latin America sodium bicarbonate market will experience an exponential growth in the near future on account of substantial demand from the food & beverage sector.

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Sodium bicarbonate market growth may be hampered due to several factors, including growing use of sodium acetate, yeast, and other alternatives in food & beverage and bakery products. Sodium acetate offers excellent antibacterial and antimicrobial properties which makes it a preferable option in these industries.

Excessive consumption of baking soda can have numerous side-effects and cause complications. These include severe health problems such as breathing disorders, allergic reactions, and arthritis. Several restriction on sodium bicarbonate regarding its use in food & beverage and pharmaceutical applications will slightly hinder the product demand.

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The report delivers the market valuation as well as the projected growth rate of the market spanning all years till 2025.

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