Sodium Nitrite Market Is Estimated To Exhibit At USD 580.8 Million By 2030


 San Francisco, 27 Oct 2023: The Report Sodium Nitrite Market Size, Share & Trends Analysis Report By Application (Food & Beverages, Pharmaceuticals, Others), By Region, And Segment Forecasts, 2023 - 2030

The global sodium nitrite market size is expected to reach USD 580.8 million by 2030, as per a new report by Grand View Research, Inc. registering a CAGR of 4.2% from 2023 to 2030. 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.

Access Research Report of Sodium Nitrite Market @ https://www.grandviewresearch.com/industry-analysis/sodium-nitrite-market-report

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

Sodium Nitrite Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 433.3 million

Revenue forecast in 2030

USD 580.8 million

Growth Rate

CAGR of 4.2% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

List of Key Players in the Sodium Nitrite Market

  • Deepak Nitrite Ltd.
  • Airedale Chemical Company Ltd.
  • BASF SE
  • Shijizhuang Fengshan Chemical Co., Ltd.
  • Ural Chem JSC
  • Linyi Liguang Chemical Co., Ltd.
  • Radiant Indus Chem Pvt. Ltd.
  • Yingfengyuan Industrial Group Limited
  • SABIC
  • Chemtrade Logistics

Access Press Release of Sodium Nitrite Market @ https://www.grandviewresearch.com/press-release/global-sodium-nitrite-market

 

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