Global Sodium Acetate Market - 2023-2030

Global Sodium Acetate Market - 2023-2030

Global Sodium Acetate Market reached US$ 131.7 million in 2022 and is expected to reach US$ 235.7 million by 2030, growing with a CAGR of 7.6% during the forecast period 2023-2030.

The sodium salt of acetic acid, often known as sodium acetate, is highly hygroscopic and soluble in both water and alcohol. The market for sodium acetate is being supported by the substance's wide range of applications as additives and concrete sealants in the food and beverage waste-water treatment, , building and construction and related industries.

The food and beverage holds more than 2/3rd market share. A large part of the food and beverage industry's expansion throughout the years has been attributable to consumers' increasing consumption of diverse foods, particularly dairy products like cheese. The flavor of dairy products can be altered and heightened by sodium acetate.

Sodium acetate is commonly employed to add a tangy or acidic flavor that balances the richness of dairy flavors in processed cheese products, cheese sauces and cheese-flavored snacks. The U.S. Department of Agriculture reports that cheese consumption in the country rose 2.7% in 2021 compared to the previous year, which is impacting the sodium acetate market growth positively.

Dynamics

Rising Demand in the Construction Industry

The sodium salt of acetic acid safeguards against surface erosion and discoloration when mixed with concrete and has a high solvency rate. Numerous construction projects have been carried out in the residential and commercial sectors as a result of the growing demand for living and working spaces. Global building construction output increased by 8.6% in February 2022, according to Eurostat statistics.

Additionally, according to research data from the U.S. Census Bureau, residential buildings increased by 1.4% in June 2022 when compared to the same month in 2021. Such swift movements in the building and construction industry would boost demand for sodium acetate for use in concrete sealants, favorably affecting the expansion of the sodium acetate industry during the forecast years.

An Increase in the Need for New Waste-Water Treatment Facilities

A source of quickly biodegradable organic carbon, sodium acetate can be utilized to promote microbial activity during biological treatment procedures. It gives microorganisms a source of food that aids in the breakdown of organic substances in wastewater. The sodium acetate market may benefit from the expansion of wastewater treatment infrastructure since there may be a greater need for microbial growth encouragement.

Sludge management is essential for wastewater treatment. Sludge conditioning, which helps with the drying and dewatering processes, can be done using sodium acetate. The need for additions like sodium acetate could grow as wastewater treatment plants look for effective sludge management options.

Adverse Effects on Health

The widespread use of chemical substances results in a number of health risks even though sodium acetate has a wide range of applications in industries with big end users, such as the food and beverage, building and construction and waste-water treatment sectors. For instance, exposure to sodium acetate may cause serious health issues like fever, vomiting, difficulty in breathing, peculiar hoarseness and swelling of the mouth, lips and neck.

Blistering on the skin and tightness in the chest are other side effects of sodium acetate allergies. The use of sodium acetate in such significant industries as food and beverage flavor additives and building & construction as a mixture for concrete sealants can be hampered by such serious health effects, which could hinder sodium acetate market growth and sodium acetate market size during the forecast period.

Price Volatility of Raw Materials

Manufacturers of sodium acetate often grapple with uncertain production costs due to the erratic nature of raw material prices. Abrupt increases in raw material expenses can erode profit margins, making it challenging to maintain competitive pricing and profitability.

Sodium acetate consumers, including businesses in pharmaceuticals, food and textiles, require stable and foreseeable pricing to effectively plan their budgets and operations. Price instability can discourage the establishment of long-term contracts and partnerships, potentially resulting in reduced market demand.

Sodium acetate faces competition from alternative chemicals that may offer more consistent pricing. When raw material prices for sodium acetate experience volatility, it can make alternative chemicals seem more appealing to potential buyers, hampering market expansion.

Segment Analysis

The global sodium acetate market is segmented based on form, application, end-user and region.

Rising Demand For Sodium Acetate in the Food and Beverage Industry

The food and beverage segment held the largest sodium acetate market share of 38.8% in 2022 in the sodium acetate market analysis report. The food and beverage industry finds extensive application for sodium acetate which is added to dairy and confectionery goods to enhance flavor and helps keep fruits and vegetables fresh.

The food and beverage industry has had tremendous expansion over the years due to the rising consumption of such food items brought on by the rapid population growth, increase in disposable income and improvement in living conditions. According to the Brazilian Supermarket Association, sales of groceries, fruits and other food goods increased by 21% in July 2021 compared to July 2019 sales.

According to the National Confectioners Association, chocolate sales in U.S. increased by 9.2% in 2021 when compared to 2020. The rise in confectionery consumption has contributed to the need for sodium acetate as it is used as flavor additives and preservatives in the food industry, which in turn, is estimated to propel the growth of the sodium acetate market during the course of the forecast period.

Geographical Penetration

Asia-Pacific Growing with the Population and Rising Food Industry

The Asia-Pacific sodium acetate market held the largest market share of 41.3% in 2022 in the sodium acetate market analysis. The demand for sodium acetate is being influenced by its use in the building and construction industry as well as the food and beverage industry in important Asia-Pacific nations like China, India, Australia, Japan and others. Such significant end-users have grown significantly as a result of rising investment inflows and advantageous governmental policies.

The Food and Agriculture Organisation Corporate Statistical Database estimates that India produced 210 million metric tonnes of milk in 2021, an increase of 5.8% from 2019. Additionally, the National Bureau of Statistics reports that China's national milk output rose 8.3% in Q1 2022 compared to Q1 2021.

Competitive Landscape
The major global players include HAWKINS, INC., Sisco Research Laboratories, Merck KGaA., Celanese Corporation, CABB Group, Global Calcium, SPECTRUM CHEMICAL MANUFACTURING CORPORATION, Niacet Corporation, Noah Chemicals and Fisher Scientific.

COVID-19 Impact Analysis

The demand for packaged ready-to-eat food has significantly decreased as a result of the current global economic slowdown and statewide lockdown, which in turn is limiting the growth of the sodium acetate industry. In addition, a variety of sectors that prepare food are impacted by supply chain interruption as a result of transportation constraints. The sodium acetate market has been impacted as a result of this worldwide food market constraint.

Russia- Ukraine War Impact

The conflict between Russia and Ukraine has affected chemical production and transportation, among other supply lines. Since Ukraine is a major producer of sodium acetate or its raw materials, any disruption in transportation as a result of the conflict may have an impact on the product's availability and cost.

Various items, especially chemicals, were subject to export and import restrictions from the other parties. This affected international trade in sodium acetate, which in turn affected the substance's availability and cost in the affected areas. These factors show that the war had a negative impact on the sodium acetate market.

Scope

By Form
• Anhydrous
• Trihydrate

By Application
• Chemical Reagent
• Buffering Agent
• Food Additive
• Heat Packs
• Electroplating
• Others

By End-User
• Chemical
• Food and Beverage
• Pharmaceutical
• Textile
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• On August 27, 2021, U.S. Food and Drug Administration (FDA) approved Milla Pharmaceuticals' generic version of Sodium Acetate Injection 2MEQ/m. Milla Pharmaceuticals is a division of the Alter Pharma Group.
• On January 22, 2022, in order to produce and distribute its acetate products, such as sodium acetate, in the medicines, specialized chemicals, agriculture and cosmetics markets, Aceto merged its six manufacturing acquisitions.
• On June 21, 2021, Kerry Group acquired sodium acetate preservative company Niacet from SK Capital for US$1 billion and the acquisition will expand the sodium acetate product portfolio of the company.

Why Purchase the Report?
• To visualize the global sodium acetate market segmentation based on form, application, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of Sodium acetate market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Technology mapping available as Excel consisting of key technologies of all the major players.

The global sodium acetate market report would provide approximately 61 tables, 60 figures and 181 Pages.

Target Audience: 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies