Sodium Nitrite Market Size and Trend Analysis by Application (Rubber Processing, Food Processing, Pharmaceutical, Fertilizer, and Others), by Grade (Industrial Grade and Food Grade), and by Region (Asia-Pacific, Europe, North America and Rest of the World), Competitive Market Share and Forecast to 2028
New York, U.S., May 03, 2022 (GLOBE NEWSWIRE) — Sodium Nitrite Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Sodium Nitrite Market Information by Application, Grade and Region – Forecast to 2028”, the market is expected to acquire a size of over USD 241.60 million by the end of 2028. The report further forecasts that the market will flourish at a healthy CAGR of over 3.9% during the period of ‘review.
Sodium nitrite refers to an antioxidant and salt used to cure meat like ham, bacon, and hot dogs. This salt prevents the growth of botulism and avoids spoilage and bacteria. In addition, it offers cold cuts with their characteristic color and flavor.
The global sodium nitrite market has prominent players such as:
Radiant Indus Chem Pvt. Ltd (India)
BASF SE (Germany)
The Deepak Group (India)
Airedale Chemical (UK)
Anmol Chemicals (India)
SINOY GROUP LIMITED (China)
Shandong Haihua Group (China)
Yingfengyuan Industrial Group Limited (China)
Shandong Xin Hao Chemical Co., Ltd (China)
Nilkanth Organics (India)
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Covered USP market
The global sodium nitrate market has witnessed tremendous growth in recent years. The growth of the sodium nitrate market is mainly attributed to the increasing demand for organic products across the world. Additionally, rising awareness in developing economies such as Argentina, India, China, and Brazil is also expected to drive the market growth over the coming years. Moreover, the increasing number of government initiatives in several regions is also expected to catalyze the growth of the market over the assessment period. Additionally, rapid changes in consumer tastes and preferences and changing lifestyles are likely to provide lucrative growth opportunities for players across the globe.
Although several aspects are propelling the growth of the market, certain factors are expected to limit the growth of the market. Uncontrolled consumption of sodium nitrate can cause several health problems such as colorectal cancer, cancer of the pancreas, stomach, esophagus, thyroid, heart diseases, etc. These side effects are associated with the overconsumption of sodium nitrate and are expected to hamper the market growth.
Browse the in-depth market research report (99 pages) on Sodium Nitrite: https://www.marketresearchfuture.com/reports/sodium-nitrite-market-10692
Impact of COVID-19
The COVID-19 pandemic has had a severe impact on most industrial sectors. The sodium nitrate market is no different from any other. Several countries around the world were under lockdown and sealed their borders to limit the spread of the virus. The pandemic has hampered logistics resulting in the disruption of raw material supply. Given the decline in production capacity, products are scarce. All of these aspects lead to an increase in short-term revenue.
The sodium nitrate market supply chain encompasses end users, distributors, and manufacturers. The pandemic has affected the supply chain, as several countries have imposed partial or full shutdowns and travel restrictions. On the other hand, the demand for sodium nitrate is expected to grow substantially over the assessment period as consumers demand healthy and natural foods due to COVID. This aspect is responsible for the increase in the growth of sodium nitrate in recent years.
The global sodium nitrite market has been fragmented into several segments based on application, quality and region.
The global sodium nitrite market is divided into industrial grade and food grade based on quality. The food grade segment secured the leading position in the global market in 2020. The segment is expected to grow significantly over the forecast period. The growing demand for food industry products for food preservation is the main reason for the increase in the growth of the regional market.
Based on application, the global sodium nitrite market has been divided into rubber processing, food processing, pharmaceutical, fertilizer and others. The food processing segment accounted for the maximum share of the global market in 2020. The growth of the segment is mainly attributed to the growing demand to inhibit the growth of bacterial spores responsible for botulism.
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The global sodium nitrite market is studied in five major regions: Asia-Pacific, Europe, North America, Latin America, Middle East & Africa.
According to MRFR analysis reports, the North American region held the number one position in the global sodium nitrite market in 2020. The regional market will lead the global market during the forecasted period. The growth of the regional market is mainly attributed to the growing preference for ready-to-eat food products across the region. Moreover, the strong demand for meat in the United States is expected to lead to an acceleration in the growth of the regional market during the assessment period. According to the United States Department of Agriculture (USDA), consumption of poultry and red meat was 222.4 pounds based on retail weight per capita.
The sodium nitrite market for the Asia-Pacific region is expected to grow at the fastest rate over the next few years. the growth of the regional market is mainly attributed to the presence of the developing economies of India, Japan and China in the region. Furthermore, increasing per capita disposable income is another crucial parameter driving the growth of the regional market. Additionally, a change in taste and preference for international cuisines in the region is also likely to catalyze the growth of the regional market over the forecast period. China contributed the largest share of the regional market share in 2020.
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