Sodium Acetate Market Size
A brief outline of sodium acetate market: substantial product demand from food processing sector to drive global industry growth over 2017-2024
In the recent times, sodium acetate market has witnessed a rather lucrative commercialization prospects owing to its extensive application across numerous business verticals including food processing, leather and textile, and pharmaceuticals. Prominently utilized as a food preservative, sodium acetate has further found widespread usage as a neutralizing agent, diuretic agent, and buffering & pickling agent across various end-use domains – a factor that has contributed significantly toward sodium acetate industry share augmentation. Moreover, rapid industrialization and enormous FDI investment in emerging nations across the globe has spurred the growth potential of the aforementioned industry verticals, which has, in turn, driven the sodium acetate market size expansion.
U.S. Sodium Acetate Market Size, by Product, 2013 – 2024 (USD Million)
Food processing sector to emerge as a prominent end-user of sodium acetate industry
Owing to its excellent food preservation qualities, sodium acetate has been increasingly preferred by food processing industry over the past decade, which has proved to be quite beneficial for the overall sodium acetate market. The widescale applicability of this chemical can be attributed to the massive rise in the consumption of canned food items subject to fast-paced lifestyles and a drastic variation in dietary habits across developed and developing countries. This has, in consequence, provided a significant boost to the growth potential of sodium acetate industry. Apparently, sodium acetate is being utilized as an acid regulator to prevent the growth of harmful bacteria in canned meat, vegetables, and fruit. Furthermore, it would be prudent to mention that the addition of sodium acetate during the canning and drying procedures not only desists bacterial growth but also extends the shelf life of the product.
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Concurrently, sodium acetate market has found a major foothold in the global dairy sector, as the chemical is being utilized as an emulsifier and preservative in numerous dairy products. Apart from being widely used in condensed milk, sour cream, buttermilk, whey-based yogurts and drinks, sodium acetate has emerged as a preferred preservative in cheese preparations such as processed cheese, ripened cheese, cheese analogues, and processed cheese. In view of the rapid advancement of the global dairy sector, the growing prominence of sodium acetate as a preservative in the overall dairy industry is likely to impel the sodium acetate market size expansion.
Thus, the rising significance of sodium acetate in the global food processing sector can be validated from the aforementioned declarations. In fact, as per the research report compiled by Global Market Insights, Inc., food processing vertical accounted for more than USD 26 million of the revenue share of the total sodium acetate industry size in the year 2016.
The Asia Pacific region has indeed established itself as a profitable growth terrain for sodium acetate market stakeholders, as the expansion of numerous end-use verticals in this region has been much more pronounced when compared to other developing economies. For instance, sodium acetate is regarded as one of the most popular preservatives in Japan with the total demand for the chemical, as per reliable sources, being a humongous 3,500 tonnes. Apparently, such statistics demonstrate the necessity of sodium acetate across various verticals in the Asia Pacific region. For the record, Asia Pacific sodium acetate industry is estimated to have apportioned more than 55% of the total revenue share of this business space in 2016.
Elaborating further, it is quite imperative to mention that this multimillion-dollar business sphere is set to exhibit robust growth rate over the forthcoming years owing to the humongous deployment potential of sodium acetate – right from modest domestic uses to intricate chemical and industrial applications. In addition to this, the leading sodium acetate industry participants have been investing massively in vital research and development activities to strengthen their position in this swiftly emerging bulk and specialty chemicals vertical. Apparently, considering the aforementioned aspects, it quite undeniable that the sodium acetate market growth prospects appear to be substantially profitable in the ensuing years, with a target revenue of USD 220 million by 2024.
Author Name : Saif Ali Bepari