Sodium Acetate Market - By Grade, By Packaging, By Application, By End Use Industry, By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030
Sodium Acetate Market Overview
Growing investments and establishments of waste-water treatment plants have boosted the demand and usage of sodium acetate as a cleaning agent in the sector, thereby propelling market growth. The demand for wastewater treatment boosts the Sodium Acetate industry outlook during the forecast period.
Market Snapshot:
Sodium Acetate Market - Report Coverage:
The “Sodium Acetate Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Sodium Acetate Market.Attribute | Segment |
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By Grade |
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By Packaging |
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By Application |
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By End Use Industry |
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By Geography |
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COVID-19 / Ukraine Crisis - Impact Analysis:
● The COVID-19 pandemic has significantly impacted the chemical industry, including the production and demand for sodium acetate. Supply chain disruptions and workforce shortages led to operational challenges for chemical manufacturers. Additionally, delays in transportation, closures of manufacturing facilities, and shifts in consumer demand have collectively contributed to the complexities faced by the sodium acetate market.● The Russia-Ukraine conflict has resulted in geopolitical uncertainties that reverberate across industries, including the chemical industry. Sodium acetate, being a chemical compound with diverse applications, confronts challenges due to disruptions in the availability and transportation. The conflict's impact on logistical operations that is crucial for the sodium acetate supply chain adds complexities to an already intricate market landscape. Additionally, geopolitical tensions may contribute to price volatility, affecting the sodium acetate market's stability and growth prospects.
Key Takeaways:
● Dominance of Asia PacificGeographically, in the Sodium Acetate market share, the Asia Pacific region is analyzed to hold a dominant market share of 45% in 2023 owing to the rapidly growing food & beverage as well as building & construction sector in major Asia-Pacific countries such as China, India, Australia, and Japan. According to the Thai Tuna Industry Association, when compared to other canned seafood goods, canned tuna from Thailand had the greatest export value in 2022 with a growth rate of 14%. According to Vietnam Customs statistics, Vietnam’s canned tuna exports reached over US$135 million by the end of July 2023. Given that sodium acetate serves as a preservative in processed meat, including deli meats and canned meat, the growing demand from the food industry, contributes to the overall growth of the sodium acetate market.
● Industrial Grade is the Fastest Growing Segment
In the Sodium Acetate Market forecast, the industrial grade segment is estimated to grow with a CAGR of 6.2% during the forecast period 2024-2030. Industrial grade sodium acetate has high applicability in various sectors due to its high solvency and chemical nature. For instance, it is used as a concrete sealant in the building & construction sector, as a flavor additive in the food & beverage sector, as a cleaning agent in the waste-water treatment industry and as a buffering agent in a variety of cosmetics & personal care agents. Owing to its high applicability coupled with the rapid developments witnessed in these sectors, the demand and usage of industrial grade are anticipated to increase during the forecast period, thereby contributing to its segment growth in the sodium acetate market.
● Food & Beverage to Hold Largest Market Share
According to the Sodium Acetate Market analysis, the food and beverage segment is estimated to hold the largest market share in 2023. In the food industry, sodium acetate serves several purposes- it is used as a pH control agent, as a flavor enhancer, a microbial inhibitor, a preservative, an emulsifier and souring agent. According to the China Canned Food Industry Association, in 2022 China exported 3.13 million metric tons of canned food, a 12% rise YoY. The value of such exports in the nation reached $6.89 billion, up by 22% from 2021, with both the export volume and value hitting record highs. In recent years, more than half the top 10 countries with the highest consumption volumes for canned food globally were in Europe, with Sweden topping the list. The annual per capita consumption volume for canned food in Sweden exceeds 33 kilograms, data from the China Canned Food Industry Association show. The growing demand for canned food boosts the sodium acetate market from the food & beverage industry.
● Growing Need for Wastewater Treatment Plants
Water scarcity is becoming an increasingly pressing issue in many parts of the world. Wastewater treatment plants play a crucial role in recycling and reusing water, making it suitable for non-potable uses such as industrial processes, irrigation, etc. This reduces the demand on freshwater sources, contributing to water conservation efforts. According to Asian Development Bank report published in 2022, despite advances in the water sector of the Asia and Pacific region, almost 500 million people in the Asia and Pacific region do not have access to basic water supplies and 1.12 billion lack access to basic sanitation. As a result, the governments in the region are investing in water and wastewater management. In October 2023, the International Finance Corporation (IFC) and Thailand's Ministry of Interior signed a memorandum of understanding (MoU) to improve access to quality water and expand the country's wastewater treatment capacity. Sodium acetate finds application in sludge dewatering and conditioning processes within wastewater treatment. It assists in enhancing the dewatering efficiency of sludge, facilitating the separation of water from solid waste. Such investments will boost the demand for sodium acetate and drive market growth during the forecast period.
● Rapid Growth of the Pharmaceutical Industry
The pharmaceutical industry has been growing leaps and bounds. The emergence of the pandemic served as a catalyst for this growth. As per the data by Pharmexcil, India’s drugs and pharmaceuticals exports stood at US$25.3 billion for FY23. The Economic Survey 2022–23 has shown India's domestic pharmaceutical market is anticipated to reach US$ 130 billion by 2030. Sodium acetate acts as an essential pH regulator and buffering agent in pharmaceutical formulations. Its inclusion ensures the optimal pH balance critical for the stability and efficacy of various medications. As pharmaceutical innovations surge, the demand for sodium acetate amplifies, given its versatile application in maintaining the desired acidity levels during drug synthesis and formulation.
● Availability of Substitutes to Impede to Market growth
The market for Sodium Acetates faces a challenge as substitutes pose a significant impediment to growth. Sodium bicarbonate shares similar properties with sodium acetate, particularly its buffering capacity and is used as a substitute for in various applications, including food and pharmaceuticals. The food industry also employs sodium citrate as a pH adjuster as an alternative to sodium acetate. Potassium lactate has been used as a food additive in meat products, because it can not only inhibit spoilage bacteria and pathogenic bacteria, but also maintain color stability, and increase cook yields and flavor. Thus, the availability of substitute might pose a challenge for the sodium acetate industry.
Key Market Players:
Scope of Report:
Report Metric | Details |
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Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
CAGR |
7.5% |
Market Size in 2030 |
$380 million |
Segments Covered |
Grade, Packaging, Application, End Use Industry and Region |
Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
Key Market Players |
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The Sodium Acetate Market is projected to grow at a CAGR of 7.5% during the forecast period 2024-2030.
Global Sodium Acetate Market size is estimated to be $246 million in 2023 and is projected to reach $380 million by 2030.
The leading players in the Sodium Acetate Market are Merck KGaA, FoodChem International Corporation, Kerry Group plc, Cayman Chemical, Mitsubishi Chemical Corporation and others.
The growing demand of Sodium Acetate from the building and construction industry and the growing demand of canned foods are some of the major Sodium Acetate trends in the industry which will create growth opportunities for the market during the forecast period.
Growing demand for wastewater treatments and the rapid growth of the pharmaceutical industry are the driving factors of the market.