Ammonium Bicarbonate Market size is estimated to surpass USD 36 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period i.e., 2024-2036. In the year 2023, the industry size of ammonia bicarbonate was USD 1 Billion. The need for food is rising due to urbanization and growing populations, which is predicted to increase the demand for ammonium bicarbonate in the upcoming years. Ammonium bicarbonate is an extremely active baking ingredient that leaves no residues that alter flavor. In the approaching year, it is anticipated that this feature will also create a solid foundation for the worldwide market to grow strongly. From an estimated 2.5 billion people in 1950, the world's population grew to 8.1 billion by mid-November 2022, with one billion born since 2010, and two billion from 1998 onwards.
The desire for more ecologically friendly fertilizers is driving the adoption of ammonia-based solutions. Ammonium bicarbonate, which is a precursor to ammonia, will benefit from this modification. The manufacture of green ammonia is receiving substantial funding from big agriculture businesses and governments, which is opening the door for ammonium bicarbonate to become a widely available and sustainable feedstock. Market players must strategically adapt to stay up with the ever-changing environment as a result of this evolution, which presents both opportunities and challenges.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024 - 2036 |
|
CAGR |
~5% |
|
Base Year Market Size (2023) |
~USD 1 Billion |
|
Forecast Year Market Size (2036) |
~USD 36 Billion |
|
Regional Scope |
|
Application (Solvent, Raising Agent, Leavening Agent, Nitrogen Fertilizer)
In terms of application, the leavening agent segment in ammonium bicarbonate market is set to hold the largest revenue share of 60% during the period between 2024-2036. In the food and beverage industry, ammonium bicarbonate is widely used as a bleaching agent. It is a key ingredient in the production of cookies, biscuits, pastries, and cakes, which increases the texture and volume of the baked goods. Over the last year, there's been a 7.26% change in the popularity of bread. Baked is consumed an average of 3.31 times per year.
End Use (Food Industry, Agriculture, Pharmaceutical, Textile, Ceramic, Rubber and Leather Agent)
Based on end users, the food & beverage segment in ammonium bicarbonate market is anticipated to hold the highest CAGR by the end of 2036. The growth of the ammonium bicarbonate industry is supported by increasing demand for ammonium bicarbonate in the food sector. Within the food sector, this product is widely applied. The market growth of the product is driven by increasing demand for these products in both developed and emerging economies in their packaging or prepared foods form. The increasing demand for clean-label food additives is a driving force behind their use as pH regulators and leavening agents in meat processing. In addition, its antibacterial properties provide a healthy alternative to harsh chemicals and are becoming increasingly popular in the growing market for natural cleaning products.
Our in-depth analysis of the global market includes the following segments:
|
Grade |
|
|
Application |
|
|
End Use |
|
APAC Market Forecasts
The ammonium bicarbonate market in the Asia Pacific region is set to hold the highest growth rate of 33% during forecast period. The global food industry is mainly driven by rising demand for health foods. The survey conducted by Global Data in the fourth quarter of 2023 shows a marked shift towards health in food shopping, with 62% of Asia Pacific consumers prioritizing healthcare. The growth of the global food industry is also strongly influenced by packaged and ready-for-consumption foods in advanced as well as developing regions. Surging urbanization is also one of the leading driving factors for this market growth. One of the major drivers for the Asia Pacific market over the next few years will be increased food demand and population growth.
North America Market Statistics
The ammonium bicarbonate market in the North American region is set to hold a substantial revenue share during the forecast period. Given the increasing demand for packaging food and well-established pharmaceutical industry in the region, North America is expected to have a major impact on global market growth over the forecast period. Furthermore, the expanding pharmaceutical industry and growing use of ammonium bicarbonate in antacids and cough syrups are set to drive market growth. Growing focus on sustainable agriculture and the use of ammonium bicarbonate as a nitrogen source and for pH control will impact the market expansion.
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?