Baking Soda Market Size was valued at USD 4.5 Billion in 2023. The Baking Soda Industry is projected to grow from USD 4.7 Billion in 2024 to USD 7.44 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.50% during the forecast period (2024 - 2032). The increasing demand from various end-use industries, such as chemical, agriculture, pharmaceutical, and food and beverages, along with growing animal feed production, is expected to be a significant market driver for the Baking Soda Market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for Baking Soda is being driven by the exponential growth of baked goods and innovation, clean-label trends and the health-consciousness of consumers. Sodium bicarbonate acts as a leavening agent that makes various baked goods like cake, biscuits, bread, waffles, and so on the rise, and as a result, it gives the cakes, biscuits, bread, waffles, and whatever more airy and spongy textures. In the food sector, sodium carbonate is employed as baking soda or baking powder. As per the Great UK Bakery report by Delifrance, one-fourth of UK residents increased their consumption of bakery products in the previous year. Canada was the third largest market of HW baked goods in the world in 2021, with a sales revenue of US$2.6 billion. In 2021, Canada was the second biggest goods exporter, after Germany, which exported US$3.8 billion. As inferred from the report by Cargill India, the demand for baked products has likely risen tremendously over the recent six to eight months of pandemics, resulting in impermanence in the supply of baked products from the end-user.
Consumers are now taking in nutrient-rich food that will help their bodies fight illnesses, ensuring they maintain good health. There has been a shift in the consumer's purchase choices that would prefer brands that produce plant-based products that are free from chemicals. As per the IBEF, which is regarded as the largest plant-based category, it is the plant-based milk category with a US$ 2.6 billion market value. The plant-based milk itself, in total, brings 36% of the global plant-based food market capacity. The total market turnover of the plant-based milk category is expected to amount to US$ 59-244 million (Rs. 459-1,889 crore). Plant-based company investment witnessed an increase in distinct investor numbers, with over 250 individuals coming in, which was equivalent to a 17 percent growth. The baking soda plant-based products are predicted to rise during the period of analysis. Major actors and research institutions are running R&D projects to develop ingredients that extend the shelf life of bakery products without chemical additives.
As a result, it is anticipated that throughout the projection period, demand for the Baking Soda Market will increase due to the Exponential Growth of Baked Goods and Innovation, Clean-label Trends, and the Health-consciousness of Consumers. Thus, driving the Baking Soda Market revenue.
The Baking Soda Market segmentation, based on Type, includes Soda Ash, Double Decomposition, and Natural Soda. The soda ash segment dominated the market, accounting for 58% of market revenue. Soda ash, in chemical terms, sodium carbonate, is one of the vital components in the production of baking soda. It is mainly produced by the Solvay process, which involves the reaction of sodium chloride, ammonia, and carbon dioxide. With the rise in industrial activities from region to region and particularly in emerging markets, the demand for soda ash has been growing steadily. This is providing a significant boost to the market for baking soda.
Figure 1: Baking Soda Market, by Type, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Baking Soda Market segmentation, based on Application, includes Food, Industrial, Medicine, and Others. The food segment dominated the market, accounting for 58% of market revenue. The trend of clean labeling that underscores transparency, simplicity, and naturally sourced products has been a driver for purchasing decisions in different consumer demographics. The baking soda ingredients fit perfectly into this category because they are simple, easily recognized, and have a long-standing use in food preparation. The food industry now includes baking soda in most of their formulations, sparking interest in clean-label products. This is one factor contributing to the growth of the food segment in the baking soda market.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Baking Soda market in North America can be attributed to several key factors. Rising people's health concerns envisage the usage of plant-based baking soda substitutes for boosting immunity and counteracting infections that will, in turn, boost the sales of the baking soda substitute product. Plant-based foods in the U.S. retail sector reach up to $8.1 billion. For the US, 6 in 10 households bought plant-based foods in 2023 to the level recorded the previous year. In 2023, plant-based foods comprised the same amount of retail food and beverage dollar sales, which totaled 1.1%. This will likely boost the demand for yeast and other organic ingredients ever used for the process of making the batter.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: BAKING SODA MARKET SHARE BY REGION 2023 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Baking Soda Market accounts for the second-largest market share as baking soda is a key ingredient in the food and beverage industry, which is essential as a leavening agent in baked goods and a pH regulator in different food processing applications. European consumers are shifting towards prepared and convenient foods as they are looking for foods with a wide variety of characteristics. This trend is positively impacting baking soda as it increases its food use. As per the report issued by Eurostat in 2020, The three countries with the highest absorption of the freshest bread and pastries are the UK (4.8 million tonnes), Germany (4.6 million tonnes), and Spain (3 million tonnes), which make up 44% of the consumption volume on the planet. According to DSM, frozen bakery products accounted for 80% of the total amount of manufactured products in Europe in October 2021. Further, the German Baking Soda Market held the largest market share, and the UK Baking Soda Market was the fastest-growing market in the European region
The Asia-Pacific Baking Soda Market is expected to grow at the fastest CAGR from 2024 to 2032. In the Asia Pacific, sodium bicarbonate has the greatest share of the world's sodium carbonate market. This is to cater to the rising demand for sodium carbonate, which is now being used in rapidly growing economies such as China. The pharmaceutical industry is expanding rapidly across the region as well, which is another factor that supports the market growth. Accordingly, Invest India envisages the pharmaceutical industry in India to grow to $65 Bn by 2024 and to $130 Bn by 2030. India, now serving over 200+ countries with its pharmaceutical exports, has become a major exporter in this sector. Indian supplies over 50% to African requirements of generics, around 40% to generic requirements in the US, and about 25% to overall medical supplies in the UK. The cumulative FDI equity inflow in the Drugs and Pharmaceuticals industry is US$ 21.46 58 billion during the period April 2000-September 2023. This constitutes almost 3.3% of the total FDI inflow received across sectors. Moreover, China’s Baking Soda Market held the largest market share, and the Indian Baking Soda Market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development to expand their product lines, which will help the Baking Soda market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Baking Soda industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Baking Soda industry to benefit clients and increase the market sector. In recent years, the Baking Soda industry has offered some of the most significant advantages to the food and beverage sector. Major players in the Baking Soda Market, including Solvay S.A., CHD, ANSAC, Inner Mongolia Yuanxing Energy Co., Ltd, Tata Group, AGC, Tosoh, Shandong Haihua Group Co., Ltd., Hunan Yuhua Chemical Group Co., Ltd., Qingdao Soda Ash Industrial Co., Ltd are attempting to increase market demand by investing in research and development operations.
Solvay SA acts as a chemical manufacturing firm. It produces and distributes specialty polymers, some basic chemicals, and various types of chemical materials. It caters to customers from aerospace and automotive, natural resources and the environment, electrical & electronics, agrochemical, food, consumer goods, construction, healthcare, industrial users, and others. To expand its specialty chemical range, the company uses chemicals developed with environmentally friendly materials that can enhance the quality and performance of its products. It innovates, and customers collaborate with many mid-end markets across the world. The Company has several research facilities & industrial sites in Europe, North America, Latin America, and Asia. Solvay's business headquarters is in Brussels, Belgium.
Tosoh is a basic, specialty, petrochemical, and fine chemical maker for the industry; it is also a manufacturer and vendor of specialty materials for high technologies and niche markets. The company's product portfolio is comprised of olefins, polyethylene, functional polymers, cement, caustic soda, inorganic and organic fine chemicals, measuring and diagnostic products, functional materials, and urethane materials. It also provides services including the delivery of products and logistics, insurance business, repair of equipment, and as well as purchase and sale of goods. The company provides its services to major markets like chemical, petrochemical, construction, automotive, consumer electronics, information technology, bioscience, and environmental. It conducts business in the US, Europe, Asia, and China. Tosoh is a multinational company based in Minato-ku, Tokyo, Japan.
Key companies in the Baking Soda Market include
Baking Soda Industry Developments
March 2021: Tata Chemicals Europe announced plans to construct a new facility in Winnington for the production of sodium bicarbonate, specifically catering to the pharmaceutical industry. The product, named Ecokarb, will mark a global milestone as the first sodium bicarbonate manufactured with net-zero carbon emissions.
September 2019: Solvay announced a significant expansion of its sodium bicarbonate capacity by 200 kilotonnes at its Devnya plant in Bulgaria. This expansion aims to meet the increasing global demand for flue gas treatments, contributing to improved air quality. The expansion is part of Solvay's existing joint operation with Sisecam, with a 75/25 partnership.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 4.5 Billion |
| Market Size 2024 | USD 4.7 Billion |
| Market Size 2032 | USD 7.44 Billion |
| Compound Annual Growth Rate (CAGR) | 6.50% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Solvay S.A., CHD, ANSAC, Inner Mongolia Yuanxing Energy Co., Ltd, Tata Group, AGC, Tosoh, Shandong Haihua Group Co., Ltd., Hunan Yuhua Chemical Group Co., Ltd., Qingdao Soda Ash Industrial Co., Ltd |
| Key Market Opportunities | Consumer desire for products with natural ingredients and clear labels |
| Key Market Dynamics | Increasing use in the animal feed nutrition industry |
Frequently Asked Questions (FAQ) :
The Baking Soda Market size was valued at USD 4.5 Billion in 2023.
The Baking Soda Market is projected to grow at a CAGR of 6.50% during the forecast period, 2024-2032.
North America had the largest share of the global market
The key players in the market are Solvay S.A., CHD, ANSAC, Inner Mongolia Yuanxing Energy Co., Ltd, Tata Group, AGC, Tosoh, Shandong Haihua Group Co., Ltd., Hunan Yuhua Chemical Group Co., Ltd., Qingdao Soda Ash Industrial Co., Ltd.
The Soda Ash segment dominated the market in 2023.
The Food segment had the largest share of the global market.
Research Analyst Level II I have a degree in engineering (civil), with masters in business administration (marketing). with more than 4 years of experience in market research and consulting, i am involved in end-to-end process of market research, proposals, project kickoffs and delivery. i have research knowledge and expertise in consumer goods/packaging domain. also i have worked for various other domains like construction & equipment. effectively managed and delivered more than 60 report studies for regional as well as global clientele.
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