Sodium Benzoate Prices, Chart, News, Graph and Forecast | IMARC Group

Sodium Benzoate Price in USA

• United States: 1310 USD/MT

In the fourth quarter of 2023, there was a notable fluctuation in the Sodium Benzoate Industry within the United States, reaching its peak price at 1310 USD per metric ton.

The latest report by IMARC Group, titled "Sodium Benzoate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of sodium benzoate prices. This report delves into globally, presenting a detailed analysis, along with informative sodium benzoate price chart. Through comprehensive price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.

Sodium Benzoate Prices Analysis:

• China: 1207 USD/MT
• Germany: 1305 USD/MT

Report Offering:

• Monthly Updates: Annual Subscription
• Quarterly Updates: Annual Subscription
• Biannually Updates: Annual Subscription

The study delves into the factors affecting sodium benzoate price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.

The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.

Request For a Sample Copy of the Report:  https://www.imarcgroup.com/sodium-benzoate-pricing-report/requestsample

Sodium Benzoate Price Trend- Last Quarter

With the rise in global health concerns and the growing prevalence of chronic diseases, there is an increase in the demand for effective and stable medicinal products. Sodium benzoate helps maintain the stability and shelf life of pharmaceuticals, making it indispensable in drug formulation. Additionally, the growing emphasis on research and development (R&D) in the pharmaceutical sector is leading to the creation of new drugs, further catalyzing the demand for excipients like sodium benzoate. Awareness about the safety and efficacy of pharmaceutical products is on the rise. There is a heightened demand for medications with fewer side effects and longer shelf lives.

Sodium benzoate, known for its preservative properties, aligns with this demand by ensuring the longevity and safety of pharmaceutical products. This trend is particularly evident in over the counter (OTC) medications, where the preference for effective and safe products drives the inclusion of reliable excipients, such as sodium benzoate. Advancements in drug formulation technologies are creating new opportunities for the market. Innovations, such as controlled-release formulations, nanoparticle-based drug delivery systems, and biologics, require specialized excipients to enhance drug stability and efficacy. Sodium benzoate, with its versatile preservative properties, is increasingly being utilized in these advanced drug formulations.

Sodium Benzoate Industry Analysis

In the fourth quarter of 2023, the sodium benzoate excipient market in North America witnessed a consistent uptick in prices due to several factors. The ongoing winter season and heightened need for processed and frozen food items resulted in an increased usage of sodium benzoate as a preservative. Consequently, manufacturers and domestic retailers amassed huge quantities of the product to ensure an ample supply and mitigate potential shortages. Furthermore, the cost of materials like benzoic acid excipients experienced a sustained increment further contributing to the escalation of the prices of the material. The appreciation of the Chinese yuan against the US dollar added to the importing expenses, influencing the market dynamics.

In Asia Pacific, the prices of sodium benzoate excipient faced several complications during the fourth quarter of 2023. Despite various issues, there was a sustained optimistic outlook. As October commenced, there was an increment in need from end-user sectors leading to a continuous upward trend in the prices. The conclusion of the Golden Week holidays added momentum, generating increased interest among downstream customers, along with a rise in overseas inquiries. Additionally, in November, China experienced production disruptions, causing labor shortages and logistical challenges. These disruptions, along with heightened manufacturing costs, contributed to the overall surge in prices.

During the last quarter of 2023, the prices of sodium benzoate excipients experienced a positive phase in the European region, particularly in the German market. During this period, expenses exhibited a sustained upward trajectory, primarily propelled by a heightened need from downstream industries, with a particular focus on the processed and frozen sectors. This increased need resulted in a tangible shortage of sodium benzoate excipient within the German market, thereby driving a consistent rise in expenses throughout the entire quarter. In addition, the demand-driven dynamics, and the relative strength of the Euro against other currencies further influenced the pricing landscape in the region, adding an additional layer to the pricing dynamics of the market.

Regional Price Analysis:

• Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
• Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
• North America: United States and Canada
• Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
• Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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