Sodium acetate, also identified as sodium ethanoate, is made by reacting acetic acid with sodium hydroxide or sodium carbonate. The granulated white powder sodium acetate trihydrate has an acetic odour. Over the forecast era, significant demand from the processed food industry will boost the sodium acetate market, owing to rising consumer income levels, round-the-clock working hours, and changes in consumer eating habits. In dairy products, cheese, chips, poultry, meat, and other edibles, the substance is widely used as an emulsifier, preservative, and flavouring agent.
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According to NIIR PROJECT CONSULTANCY SERVICES (NPCS), sodium acetate trihydrate was worth over USD 65 million in 2016, accounting for roughly 60% of the total market share.
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Market Drivers: -
The substantial use of sodium acetate in processed foods is the primary factor driving its development. Working-class people have been travelling long distances for work and career purposes in recent years. With less time available for food preparation and other tasks, people are turning to processed foods, which require the least amount of time to obtain and prepare. Increased FDI and the opening of new retail formats are other factors that are boosting the processed foods market and, in turn, positively influencing the sodium acetate market.
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Individuals' health issues, as well as food manufacturers' unwavering efforts to satisfy consumers' demand for food items that are the least dangerous for consumption, have caused manufacturers to eliminate various fats and sugars that may pose a threat to human health, which has aided the growth of the sodium acetate industry, as Sodium Acetate is replacing salts and spices. Sodium Acetate is not only assisting in the production of nutritious foods, but it is also lowering the cost of production.
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End Users Applications: -
· Leather and textiles, as well as medical and pharmaceuticals, are the two most important end-user industries in the sodium acetate industry, accounting for more than 60% of total market share and expected to expand at a significant pace. Because of its superior physical properties, such as high solubility and density, the substance is primarily used as a washing salt in the leather industry and as a mordant in the textile and leather industries. It's also used to boost dye absorption and shield it from light during the dying process. Furthermore, it eliminates electrostatic force in the cotton manufacturing industry.
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· In 2016, the food industry accounted for more than USD 26 million in the sodium acetate market. The substance is used as a preservative and to extend the shelf life of foods like meat, poultry, and dairy products. It is used as a seasoning agent and is combined with vinegar to produce a clear flavour in certain delicacies. In the coming years, optimistic growth in the food industry, exclusively in emerging economies, will boost sodium acetate market mandate.
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Global Arcade: -
The global sodium acetate market was worth more than USD 147 million in 2019 and is projected to reach nearly USD 265 million by 2026, growing at a CAGR of about 7% between 2020 and 2026. In 2016, Asia Pacific was a significant contributor to the sodium acetate industry, accounting for about 55% of global sodium acetate sales.
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Due to growth in the leather and textile, food, and other industries in the area, its market share is expected to increase in the near future. Sodium acetate market growth will be aided by the demand from the food industry for the preservation of dairy products, as well as the increasingly increasing leather and textile industries. American Elements, CABB GmbH, HiMedia Laboratories, Cayman Chemical, and Tokyo Chemical Industry Co. Ltd. are among the main industry participants.
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Conclusion: -
Quality is the secret to any activity's performance. Also in a seller's market, consistency offers a competitive advantage through increased efficiency and lower production costs. That's when you remember NPCS, where our team, as our most valuable asset, works tirelessly to provide excellent consulting services that are needed to establish successful projects.
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