Market Overview:
The global sodium succinate market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for food grade and feed grade sodium succinate from various applications such as food, pharmaceuticals, and feed. Sodium succinate is used as an acidity regulator, flavoring agent, and preservative in food products. It is also used as a nutritional supplement in animal feed formulations. In addition, the growing demand for bio-based chemicals across the globe is also contributing to the growth of this market. However, fluctuating prices of raw materials may restrain the growth of this market during the forecast period. On basis on type segmentation Food Grade held major share due its extensive use in processed foods while Feed Grade are projected witness highest CAGR over forecast period owing rising demand from livestock industry across globe .Regionally Asia Pacific accounted for largest share followed by North America with Europe being third largest region due high adoption rate Sodium Succinate among these regions .
Product Definition:
Sodium succinate is a salt of succinic acid, a dicarboxylic acid. It is an important intermediate in the chemical industry.
Food Grade:
Food grade is the term used for products that are intended for human consumption. It contains ingredients such as additives, preservatives, and emulsifiers which are added to food in order to make it appealing & palatable. Food grade chemicals can be further divided into three categories namely; organic (bio-based), inorganic and natural.
Feed Grade:
Feed grade is the highest quality form of succinic acid available in the market. It has a purity level of 99%. Feed grade succinic acid can be used as a replacement for chemically produced succinic acid, which makes it suitable to be used in animal feed and food additives. The product is widely utilized as an additive for animal feed and also finds application in several food products such as soft drinks, baked goods, fatty acids, soaps & detergents among others.
Application Insights:
The food application segment led the global market in 2017 and is projected to witness significant growth over the forecast period. The product is used as a processing aid, preservative, and flavoring agent in various foods including cheese, meat products, bakery & confectionery items. Sodium succinate has emerged as an effective alternative for salt due to its lower levels of sodium chloride. Moreover, it can be used as a substitute for sugar where it functions as both a sweetener and an acidifier which boosts its demand from food applications.
The pharmaceuticals segment accounted for 9% of the global share in terms of revenue in 2017 on account of high demand from drug manufacturers who use this chemical compound owing to its superior characteristics such as solubility property which helps dissolve pills or powdery substances thereby making them easy to take medicine with liquid or soft food like yogurt or milk.
Regional Analysis:
Asia Pacific was the largest market for sodium succinate in 2016 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing demand from pharmaceutical, feed and food industries. In 2017, China accounted for a major share of global sodium succinate market on account of rapid industrialization along with growing population and rising living standards.
The presence of a large number of manufacturers coupled with high consumption levels has also contributed towards industry growth in this region. Moreover, countries such as India are focusing on developing their pharmaceutical sector which will further boost product demand over the coming years.
In terms of revenue, Europe is anticipated to witness significant growth during the forecast period owing to rapidly expanding feed industry coupled with robust manufacturing base found across Germany, U K., France & Italy among other Eastern & Central European countries that are well-suited for animal farming activities due to ample availability water resources required by livestock animals (poultry & cattle).
Growth Factors:
- Increasing demand for succinic acid in various applications such as food & beverage, pharmaceuticals, and cosmetics is expected to drive the sodium succinate market growth.
- Growing demand for bio-based chemicals owing to their environmental friendly nature is anticipated to boost the sodium succinate market growth over the forecast period.
- Rising awareness about benefits of using bio-based chemicals is projected to fuel the sodium succinate market expansion during the forecast period.
- Increasing investments by key players in research and development activities for product innovation is likely to propel the sodium succinate market growth in future years. 5
Scope Of The Report
Report Attributes
Report Details
Report Title
Sodium Succinate Market Research Report
By Type
Food Grade, Feed Grade, Others
By Application
Food, Pharmaceuticals, Feed
By Companies
BioAmber, Nippon Shokubai, Kawasaki Kasei Chemicals, Henan Kingway Chemicals, Fortune International, Shijiazhuang Zexing Amino Acid, Way Chein, Nanjing Duolong Bio-tech, BioAmber
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
129
Number of Tables & Figures
91
Customization Available
Yes, the report can be customized as per your need.
Global Sodium Succinate Market Report Segments:
The global Sodium Succinate market is segmented on the basis of:
Types
Food Grade, Feed Grade, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food, Pharmaceuticals, Feed
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BioAmber
- Nippon Shokubai
- Kawasaki Kasei Chemicals
- Henan Kingway Chemicals
- Fortune International
- Shijiazhuang Zexing Amino Acid
- Way Chein
- Nanjing Duolong Bio-tech
- BioAmber
Highlights of The Sodium Succinate Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Food Grade
- Feed Grade
- Others
- By Application:
- Food
- Pharmaceuticals
- Feed
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Sodium Succinate Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Sodium succinate is a salt that is derived from succinic acid. It is most commonly used as a food additive to improve the flavor of foods and to make them more palatable.
Some of the major players in the sodium succinate market are BioAmber, Nippon Shokubai, Kawasaki Kasei Chemicals, Henan Kingway Chemicals, Fortune International, Shijiazhuang Zexing Amino Acid, Way Chein, Nanjing Duolong Bio-tech, BioAmber.
The sodium succinate market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Sodium Succinate Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Sodium Succinate Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Sodium Succinate Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Sodium Succinate Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Sodium Succinate Market Size & Forecast, 2020-2028 4.5.1 Sodium Succinate Market Size and Y-o-Y Growth 4.5.2 Sodium Succinate Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Food Grade
5.2.2 Feed Grade
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Food
6.2.2 Pharmaceuticals
6.2.3 Feed
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Sodium Succinate Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Sodium Succinate Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Food Grade
9.6.2 Feed Grade
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Food
9.10.2 Pharmaceuticals
9.10.3 Feed
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Food Grade
10.6.2 Feed Grade
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Food
10.10.2 Pharmaceuticals
10.10.3 Feed
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Food Grade
11.6.2 Feed Grade
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Food
11.10.2 Pharmaceuticals
11.10.3 Feed
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Food Grade
12.6.2 Feed Grade
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Food
12.10.2 Pharmaceuticals
12.10.3 Feed
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Food Grade
13.6.2 Feed Grade
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Food
13.10.2 Pharmaceuticals
13.10.3 Feed
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Sodium Succinate Market: Competitive Dashboard
14.2 Global Sodium Succinate Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BioAmber
14.3.2 Nippon Shokubai
14.3.3 Kawasaki Kasei Chemicals
14.3.4 Henan Kingway Chemicals
14.3.5 Fortune International
14.3.6 Shijiazhuang Zexing Amino Acid
14.3.7 Way Chein
14.3.8 Nanjing Duolong Bio-tech
14.3.9 BioAmber