Ammonium Bicarbonate Market Share

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.