Dublin, May 16, 2023 (GLOBE NEWSWIRE) -- The "Sodium Nitrite Market Size, Share & Trends Analysis Report By Application (Food & Beverages, Pharmaceuticals, Others), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global sodium nitrite market size is expected to reach USD 580.8 million by 2030. registering a CAGR of 4.2% from 2023 to 2030.
Companies Mentioned
- Deepak Nitrite Ltd.
- Airedale Chemical Company Ltd.
- BASF SE
- Shijizhuang Fengshan Chemical Co. Ltd.
- URALCHEM JSC
- Linyi Luguang Chemical Co. Ltd.
- Radiant Indus Chem Pvt Ltd.
- YingFengYuan Industrial Group Limited
- SABIC
The demand is attributed to the increasing demand for preservatives in the food & beverage industry. Preservatives help increase food items' shelf-life by delaying the spread of pathogens and microorganisms. Thus, sodium nitrite is highly used to enhance the flavor of meat and maintain its original color (making it look more appealing and presentable to consumers), while preventing bacterial growth.
In the pharmaceutical sector, sodium nitrite is a well-known chemical molecule. Its most common application is as an antidote for cyanide poisoning, as it is quite effective even in severe cases. It is used in the production of saccharin and caffeine and is commonly utilized as a raw material and preservative in pharmaceutical formulations like eye drops.
Since sodium nitrite contains nitrogen, the product can be utilized as a control agent in a variety of medicines. It is also utilized as a butadiene antifoaming agent and a raw material for aminopyrine and sulpyrine antipyretic analgesics. Thus, multiple applications of the product in the pharmaceutical industry indicate that the growth of this industry is expected to drive the demand for pharmaceutical-grade sodium nitrite in the coming years.
The growing consumer acceptance of processed food in countries like China, India, Japan, and others is likely to bolster the demand for the product in the Asia Pacific. China is the world's largest consumer of food and beverages. The processed meat market of China majorly includes beef, pork, poultry, mutton, and others, which require the use of sodium nitrite as a preservative, thus driving the demand for the product market.
Sodium Nitrite Market Report Highlights
- Food & beverages application accounted for the largest market revenue share of over 66% in 2022. The growth is attributed to the increasing demand for the product as a preservative in processed meat and other food items
- The pharmaceuticals segment was the second-largest application and is predicted to attain a CAGR of 4.7% over the forecast period, owing to its ability to act as a raw material or control agent for the development of several medicines used for treating muscular dystrophy, neurotransmission imbalances, epilepsy, and others
- Asia Pacific dominated the regional segment with a revenue share of over 71% in 2022 due to the growth of the meat processing and food & beverage industries in the region
- The increase in population and rising per capita disposable income drive the food and beverage market. According to a China Chamber of Commerce article published in 2020, the beverage market which includes drinks, vegetable juices, and fruits generated revenue of USD 39,330 million, thus driving the demand for the product in the country
- Europe accounted for the second largest market share of over 16% in 2022 due to the changing consumer preference toward processed food over cooked food in the region. In the European Union (EU), sodium nitrite is approved as a food additive and is used to prevent microbial growth in meat, cheese, and fish products as it helps to improve the flavor while protecting it against botulism
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 109 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $433.3 Million |
| Forecasted Market Value (USD) by 2030 | $580.8 Million |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Methodology And Scope
Chapter 2 Executive Summary
Chapter 3 Sodium Nitrite Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Penetration & Growth Prospect Mapping, 2018 - 2030
3.3 Industry Value Chain Analysis
3.3.1 Raw Material Trends
3.3.2 Manufacturing Trends
3.3.3 Price Trend Analysis
3.4 Regulatory & Policy Landscape
3.4.1 Standards & Compliance
3.5 Impact of COVID-19 Pandemic
3.6 Impact of European Geopolitical Conflict
3.7 Market Dynamics
3.7.1 Market Driver Impact Analysis
3.7.1.1 Growth In The Global Meat Processing Industries
3.7.1.2 Increasing Use Of Additives In Meat Industry
3.7.1.3 Increase Use Of Sodium Nitrite In Pharmaceutical Industry
3.7.2 Market Restraint Impact Analysis
3.7.2.1 Potential Risk Of Side Effects
3.7.3 Industry Challenges
3.8 Industry Analysis Tools
3.8.1 Porter's Analysis
3.8.2 Macroeconomic Analysis
Chapter 4 Sodium Nitrite Market: Application Estimates & Trend Analysis
4.1 Application Movement Analysis & Market Share, 2022 & 2030
4.2 Sodium Nitrite Market Size & Forecasts And Trend Analysis, By Application, 2018 - 2030 (Kilotons) (USD Million)
4.2.1 Food & Beverages
4.2.2 Pharmaceuticals
4.2.3 Other Applications
Chapter 5 Sodium Nitrite Market: Regional Estimates & Trend Analysis
Chapter 6 Sodium Nitrite Market: Competitive Landscape
6.1 Recent Developments & Impact Analysis, By Key Market Participants
6.2 Company/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
6.3 Vendor Landscape
6.3.1 List of Key Manufacturers
6.3.2 List of Key Distributors And Channel Partners
6.3.3 List of Potential End Users
6.4 Strategic Framework
Chapter 7 Sodium Nitrite Market: Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/31udll
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