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San Francisco, January 18, 2022 /PR Newswire/ — Worldwide Sodium nitrite market Size is expected to be arrival $529.9 million By 2028, according to a new report from Grand View Research, Inc. market expectation Expand at a CAGR of 4.7% from 2021 to 2028. This growth can be attributed to the growing demand for preservatives in the food and beverage industry. Preservatives delay the growth of foodborne pathogens and microorganisms, thereby extending the shelf life of foods.
Globally, the demand for food preservatives is booming with the expansion of food and beverage industries in developing countries, such as India, Mexico, Brazil, and others.In addition, with the development of the meat processing industry, especially in large meat producing countries, such as China, India, the United States and other countries are expected to drive the demand for the product in the coming years.
Key insights and findings from the report:
- Food & Beverage is a major application area in terms of revenue in 2020 due to increasing adoption of flavors and fixatives in the poultry and meat industries
- Pharmaceutical applications are expected to expand at the highest CAGR of 5.3% due to increased usage of sodium nitrite as a raw material for pharmaceutical formulations such as synthesis of products such as caffeine and saccharin
- In 2020, Asia-Pacific In terms of revenue, it has the highest market share, accounting for 70.41%.This high share is attributed to the growing demand for food preservatives in the expanding food and beverage industry
- In 2020, China Captures the largest revenue share in the market Asia-Pacific area.This high share is attributed to the presence of large manufacturers in the country
- Deepak, America’s largest manufacturer India, manufactures and supplies more than 80% of products that are used in pharmaceuticals, agrochemicals and other fields
Read the 80-page market research report, “Sodium Nitrite Market Size, Share & Trends Analysis Report By Application (Food & Beverage, Pharmaceuticals), By Region (North America, Europe, Asia-Pacific, Central & South America, middle East & Africa), and…
The full story is available on Benzinga.com
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