Ammonium Bicarbonate Industry - Regional Synopsis
APAC Market Forecasts
The ammonium bicarbonate market in Asia Pacific is set to hold the highest revenue share of 33% by the year 2037. 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.
India is estimated to hold a prominent ammonium bicarbonate market share during the forecast period. The demand for ammonium bicarbonate and specialty chemicals is primarily driven by growth in end uses such as agriculture, food processing, home care, and personal care. The exports of inorganic and organic chemicals were USD 14.09 billion in April-September 2024, while the demand for chemicals and petrochemicals will triple, surpassing USD 1 trillion by the end of 2040. India has emerged as the 6th largest chemical manufacturer globally and 3rd in Asia Pacific, which contributes 7% to the country’s GDP. Furthermore, with foreign companies seeking to de-risk their ammonium bicarbonate supply chains from China, the chemical sector including ammonium carbonate and bicarbonate in India showcases an opportunity for growth. Additionally, the IBEF estimates an investment of USD 107.38 billion is estimated in the country’s chemicals sector by the end of 2025.
North America Market Statistics
The North America ammonium bicarbonate market is set to account for substantial revenue share by 2037. 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.
The U.S. ammonium bicarbonate market is projected to witness massive growth till 2037, owing to rising government focus on decoupling from the dependence on foreign entities for agriculture and raw materials. In December 2024, USDA announced investment of USD 116 million as part of Fertilizer Production Expansion Program (FPEP) to consolidate market competition, lower fertilizer and other resource expenditure for U.S. farmers and lower food costs for consumers. The FPEP will focus on expanding fertilizer production capability, including ammonium bicarbonate in California, Georgia, Colorado, Indiana, Kansas, Iowa, Michigan, Wisconsin, and Oklahoma.
