Sodium Benzoate Excipient Price Trend

Sodium Benzoate Excipient Prices December 2023

The price of sodium benzoate excipient in the United States for Q4 2023 reached 1345 USD/MT in December. Increased prices within the North American market during the last quarter of 2023 were due to an increased winter demand, which increased raw material costs, currency appreciation, port congestion, and labor shortages.

In the fourth quarter of 2023, China's sodium benzoate excipient prices experienced a continuous upward trajectory due to increased demand, production disruptions, and supply chain challenges. Prices for Q4 2023 witnessed continuous upward movements due to improvement in demand from end-use sectors, supply-chain delays of China, and rising manufacturing costs. As a result, prices continued to increase, peaking at USD 1225/MT in December, despite a reduction in feedstock prices, on low stock and limited supply.

In the fourth quarter of 2023, Germany's sodium benzoate excipient prices witnessed a sustained upward trend, driven by increased demand from the processed and frozen food sectors, a stronger Euro, and rising upstream benzoic acid excipient costs, finally reaching 1320 USD/MT in December 2023.

Sodium Benzoate Excipient Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Sodium Benzoate Excipient Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of sodium benzoate excipient pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of sodium benzoate excipient at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of sodium benzoate excipient price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing sodium benzoate excipient price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Sodium Benzoate Excipient Market Analysis

The global sodium benzoate excipient market size reached 453.6 Thousand Tons in 2023. By 2032, IMARC Group expects the market to reach 715.9 Thousand Tons, at a projected CAGR of 5.20% during 2023-2032.

• Growth in the pharmaceutical sector is augmenting the demand for sodium benzoate as an excipient in pharmaceutical formulations, supported by its pivotal role in drug formulation and retention.
• The increasing consumption of packed foods and beverages is driving the sodium benzoate excipient market due to its major preservative role in extending shelf life. The increasing globalization of the world's food industries, more so in developing countries, further stimulates this demand.
• Sodium benzoate is increasingly used as an antimicrobial product in cosmetic and personal care formulations. A fast-growing cosmetic industry, influenced by increased consumer awareness and expenditure on cosmetic products, is, in turn, driving the market for sodium benzoate used as excipients.
• The existing regulatory approvals and established safety profiles of sodium benzoate as an excipient contribute significantly to its acceptance across various industries. The trust demonstrated by regulatory bodies boosts manufacturers' confidence, thereby enhancing market adoption and confidence.
• Innovations in preserving technologies make the excipient sodium benzoate much more efficacious, much more flexible in its applications, and usable in several sectors. These ever-changing scenarios related to the development of technology are making sodium benzoate excipient more user-friendly in these regards and turning it into a more attractive, versatile option for manufacturers.
• With growing consumer concerns toward food safety and the role of preservatives in maintaining contamination, the demand for sodium benzoate excipient is growing. The market for safe and approved preservatives, such as sodium benzoate excipient, is expanding as consumers become increasingly health conscious.
• Rapid urbanization and a shift towards convenience food and beverage reflect a demand for proper preservation solutions, hence expanding the market of sodium benzoate excipient. It is most prominent within highly densely populated and rapidly growing regions.
• The growth of the dairy industry has resulted in market growth for sodium benzoate excipients. This preservative is important for an extended shelf life without issues touching on safety in dairy products.
• Enhanced R&D activities aimed at discovering new applications and improving the efficacy of sodium benzoate excipients in various products are propelling the market. Continuous innovation ensures that sodium benzoate excipient remains relevant and in demand.
• The globalization of the food and beverage trade mandating the adoption of reliable means of preservation for products to be able to withstand long shipping duration is driving the demand for sodium benzoate excipients. The more international trade, the more effective preservatives would be required.

Sodium Benzoate Excipient News

The report covers the latest developments, updates, and trends impacting the global sodium benzoate excipient market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in sodium benzoate excipient production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the sodium benzoate excipient price trend.

Latest developments in the sodium benzoate excipient industry:

• It was announced on June 25, 2024, that SyneuRx International, a Taiwan-based company specializing in developing drugs for central nervous system-related disorders, is engaging in the clinical development of sodium benzoate for the treatment of adolescent schizophrenia, refractory schizophrenia, add-on therapy in schizophrenia, and dementia, targeting D-amino acid oxidase (DAAO), with the drug currently being in Phase III trials.

Product Description

Sodium benzoate is a commonly used preservative, it plays a preservative role mainly in most pharmaceutical formulations, as it is a compound consisting of the sodium salt of benzoic acid, which shows high antimicrobial activity. It thus effectively inhibits the growth of bacteria and other microorganisms, such as yeast, and fungi. It is, therefore, active in drug formulations, enhancing stability and assuring the longevity of the product by protecting it against microbial contamination. The excipient's water solubility ensures that it finds its way into liquid formulations.

In addition, the compound is deemed safe and fit for use via recommendations by both the FDA and several other regulatory bodies. It is in that regard that the sodium benzoate excipient in pharmaceuticals comes in of much importance on its preservative and on matters contributing to consistency and quality; hence, affirms that the products are effective and, most importantly, safe for use by consumers all over a long time. Moreover, its cost-effective nature and its applicability in the most diverse areas of pharmaceuticals make it a very useful excipient.

Regional Coverage

The report provides a detailed analysis of the sodium benzoate excipient market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the sodium benzoate excipient price trend. 

Global Sodium Benzoate Excipient Price

The report offers a holistic view of the global sodium benzoate excipient pricing trends in the form of sodium benzoate excipient price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of sodium benzoate excipient but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed sodium benzoate excipient demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Sodium Benzoate Excipient Price

In Q4 2023, the European sodium benzoate exp market, notably in Germany, witnessed rising prices driven by strong demand from food sectors, a stronger Euro, and higher upstream costs. Despite price increases, supply remained stable, with prices reaching USD 2098/MT by the quarter's end.

This analysis can be extended to include detailed sodium benzoate excipient price information for a comprehensive list of countries.

North America Sodium Benzoate Excipient Price

In Q4 2023, the North America sodium benzoate excipient market witnessed price increases driven by high demand for preservatives in food and pharmaceuticals, rising costs of raw materials, import expenses, port congestion, and labor shortages, with prices reaching USD 2058/MT by quarter's end.

Specific sodium benzoate excipient historical data within the United States and Canada can also be provided.

Middle East and Africa Sodium Benzoate Excipient Price

The report explores the sodium benzoate excipient pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on sodium benzoate excipient prices for countries can also be provided.

Asia Pacific Sodium Benzoate Excipient Price

In Q4 2023, the APAC sodium benzoate excipient market experienced rising prices due to increased demand, production disruptions in China, labor shortages, and logistical challenges, resulting in a supply-demand imbalance. Prices reached USD 1978/MT by December, despite weakened feedstock prices.

This sodium benzoate excipient price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Sodium Benzoate Excipient Price

The analysis of sodium benzoate excipient prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of sodium benzoate excipient pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting sodium benzoate excipient price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The sodium benzoate excipient price charts ensure our clients remain at the forefront of the industry.