Persistence Market Research
Global Sodium Benzoate market- Drivers
Sodium benzoate is widely accepted in pharmaceuticals, food and cosmetics and skin care industry. The chemical is used to protect food items and cosmetics from periodic decay. The demand of sodium benzoate is soaring with passing time. The markets are expanding beyond some of the orthodox cosmetics and food markets spread across North America and Europe. Effects of globalisation and urbanisation are positively impacting the economy and finance of Asia Pacific region and turning it into a potential hub of the food and cosmetics industry. The usage of harmful chemicals in food, pharmaceuticals and cosmetics is strictly monitored and restricted by government authorities present in the North America and Europe region which is impacting the pace of growth of the sodium benzoate market in this region of the globe. On the other hand, Asia Pacific region is slowly becoming a thriving market for food, cosmetics and pharmaceuticals. Thus this region has developed a favourable climate for the growth of the sodium benzoate market and this growth is expected to continue in the forthcoming years. The massive growth of the consumer market in China and India. Boom in pharmaceutical and cosmetics market will also play a crucial role in the expansion of sodium benzoate market. The demand for halal cosmetics is rising in the South East Asian and MEA markets which are expected to build a proper base for the growing preservatives market.
Global Sodium Benzoate Market- Restraints
Sodium benzoate is tagged as a harmful preservative and its use is limited in some industries. It is easily soluble and affordable which widens its usage, but research revealed that the overuse of this chemical solvent can cause cancer by affecting the oxygen cells present in the body. Though this chemical is present in some fruits, but the addition of the synthetic form of sodium benzoate is extremely lethal for the body. Sodium benzoate is found in vinegar, soda, fruit juices and jams which are present in the daily diet of the every citizen in the world. The expanding world of consumerism is in dire need of foods which can be packed and stored for days and the fast lifestyle of the people are promoting the expansion of a food and cosmetics industry which is completely backed by harmful chemical preservatives.
Global Sodium Benzoate Market- Key Regions
The demographical changes in the Asia Pacific and MEA region have created a massive market for preservatives. The consumer market is swelling and ushering global brands to meet the daily soaring demand. The financially empowered millennial population is developing new scopes for Sodium benzoate in the Asia Pacific market. Citizens of India and China are witnessing a massive change in their food habits. Markets for packed foods are soaring in these regions. Recent studies revealed that more than 60 percent of the population of India prefers to try packed food. The governments of these countries such as China and India are apathetic about the usage of the harmful preservatives in food articles. The cosmetic consumer protection laws are facile. Thus the opportunities for the preservatives makers are maximum in this market.
Global Sodium Benzoate Market- Key Players
Foodchem International Corporation, A.M. Food Chemical Co. Limited, Wuhan Youji Industries Co., Ltd. DuPont de Nemours Company, Eastman Chemical Company, E.I. are some of the major companies which are operating in this market.
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