Sodium Acetate Market Size

Sodium Acetate Market Size

Sodium Acetate Market size was estimated over USD 120 million in 2016 and the industry will grow by a CAGR more than 7% up to 2024.

Sodium acetate is colorless deliquescent and commonly known as the sodium salt of acetic acid or sodium ethanoate. Significant demand from the processed food industry owing to rise in income level of consumers, round the clock working hours and shift in consumer eating habits will boost the sodium acetate market over the forecast period. The product is extensively used as an emulsifier, preservative and flavoring agent in dairy products, cheese, chips, poultry, meat and other edibles. The product can be mixed with vinegar in order to form sodium diacetate which delivers a pungent flavor to eatables. Rising supply chain issues of food items which include delay in transportation, less shelf-life, etc. has resulted in a greater importance in preserving food and subsequently using preservatives to prolong the shelf-life of food products. Hence, this will bolster the sodium acetate demand in food preservative industry by 2024.
 

High import duties along with availability of the several substitute products are the crucial factors for restricting the sodium acetate market growth throughout the forecast spell. Similar food additives and preservatives are available in the market and are acting as substitutes for sodium acetate. These food additives and preservatives are likely to pose a threat to sodium acetate in the near future. Additionally, higher concentration of acetic acid is used to maintain the acidity, which is approximately hundred times higher than normal plasma levels of blood. This may result in increased plasma acetate content and promote hemodynamic instability and acidosis. Thus, higher dosage of sodium acetate may adversely affect the patient’s health. This in turn, will be hampering the sodium acetate market growth by 2024.