South Africa Sodium Benzoate Market Size & Outlook
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South Africa sodium benzoate market highlights
- The South Africa sodium benzoate market generated a revenue of USD 12.6 million in 2023 and is expected to reach USD 17.4 million by 2030.
- The South Africa market is expected to grow at a CAGR of 4.8% from 2024 to 2030.
- In terms of segment, powder was the largest revenue generating form in 2023.
- Powder is the most lucrative form segment registering the fastest growth during the forecast period.
Sodium benzoate market data book summary
| Market revenue in 2023 | USD 12.6 million |
| Market revenue in 2030 | USD 17.4 million |
| Growth rate | 4.8% (CAGR from 2023 to 2030) |
| Largest segment | Powder |
| Fastest growing segment | Powder |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Powder, Granules |
| Key market players worldwide | Foodchem International Corporation, Avantor Inc, Merck KGaA, Azelis Group NV, Spectrum Chemicals, DuPont de Nemours Inc, Tulstar Products, Lanxess AG |
Other key industry trends
- In terms of revenue, South Africa accounted for 2.9% of the global sodium benzoate market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa sodium benzoate market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 17.4 million by 2030.
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Sodium Benzoate Market Scope
Sodium Benzoate Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Tulstar Products | View profile | 11-50 | Tulsa, Oklahoma, United States, North America | https://www.tulstar.com |
| Foodchem International Corporation | View profile | - | Shanghai, Shanghai, China, Asia | http://www.foodchemadditives.com/ |
| Spectrum Chemicals | View profile | 11-50 | Mumbai, Maharashtra, India, Asia | https://www.spectrumchemicals.net |
| Azelis Group NV | View profile | 4206 | Posthofbrug 12, Box 6, Antwerp, Belgium, B-2600 | https://www.azelis.com |
| Lanxess AG | View profile | 12621 | Kennedyplatz 1, Cologne, Germany, 50569 | https://www.lanxess.com |
| DuPont de Nemours Inc | View profile | 24000 | 974 Centre Road, Building 730, Wilmington, DE, United States, 19805 | https://www.dupont.com |
| Avantor Inc | View profile | 14500 | 100 Matsonford Road, Suite 200, Building One, Radnor Corporate Center, Radnor, PA, United States, 19087 | https://www.avantorsciences.com |
| Merck KGaA | View profile | 62345 | Frankfurter Strasse 250, Darmstadt, HE, Germany, 64293 | https://www.emdgroup.com |
South Africa sodium benzoate market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to sodium benzoate market will help companies and investors design strategic landscapes.
Powder was the largest segment with a revenue share of 60.32% in 2023. Horizon Databook has segmented the South Africa sodium benzoate market based on powder, granules covering the revenue growth of each sub-segment from 2018 to 2030.
The rise in demand for packaged food & beverages and an increase in their consumption result in a surged demand for sodium benzoate, which is used in packaged food & beverages. According to the Global Food Research Program, it has been found that low-income adults in South Africa consume an average of 40% of their daily calories from ultra-processed products.
This trend is highly prominent among young individuals and that is a cause for concern as there is a rise in nutritionrelated diseases in the country. For instance, ultra-processed products is consumed just over 40% by 18-29 year old for daily calories, while only 22% among 40–50-year olds.
The increase in the consumption of processed food & beverage has led to a surge in demand for sodium benzoate, thereby leading to the growth of the market in South Africa.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa sodium benzoate market , including forecasts for subscribers. This country databook contains high-level insights into South Africa sodium benzoate market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa sodium benzoate market report size, by application, 2018-2030 (US$M)
South Africa Sodium Benzoate Market Share, 2023 & 2030 (US$M)
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