The new report by Expert Market Research titled, ‘Global Ammonium Bicarbonate Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global ammonium bicarbonate market, assessing the market based on its segments like grades, end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): 198 million metric tons
• Forecast CAGR (2020-2025): 4%
The growing demand in the food industry for ammonium bicarbonate supports the ammonium bicarbonate industry’s growth. The product is widely used in the food sector. For instance, it is used, as a raising agent in baked product preparation, such as crackers and cookies. The increasing demand for these foods in packaged or ready-to-eat formats in both developed and emerging economies is boosting the product’s market growth. In addition, rising urbanisation is supporting the development of the food industry and providing further impetus for the growth of the ammonium bicarbonate market.
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Industry Definition and Major Segments
Ammonium bicarbonate refers to a type of inorganic chemical compound. It is a crystalline, colourless, bicarbonate salt of the ammonium ion. The chemical is used as a raising agent in the food industry for the preparation of baked goods like crackers and cookies.
The industry can be broadly categorised based on its grade into:
• Food Grade
• Technical Grade
• Agriculture Grade
On the basis of end-use, the industry is divided into:
The regional markets for ammonium bicarbonate include:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
The ammonium bicarbonate market is driven by the rising food industry, where it is employed as an active baking agent in the production of baked goods like cookies, biscuits, among others. In addition, the growing population and urban development are boosting the food demand, which will likely have a positive effect over the forecast period. Furthermore, the product’s high quality standards should also support the market growth. The product is also widely used in end use industries like the rubber and leather industries, which is further boosting the market growth.
Key Market Players
The major players in the market are BASF SE (ETR: BAS), Sumitomo Chemical Co., Ltd. (TYO: 4005), Nissan Chemical Corporation (TYO: 4021), Mangalore Chemicals & Fertilizers Limited (NSE: MANGCHEFER), and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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