Nitrite Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Nitrite Market is segmented by Type (Sodium Nitrite, Potassium Nitrite, Calcium Nitrite, and Other Types), Application (Agriculture, Food and Beverages, Healthcare, Pharmaceutical, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Market Snapshot

Nitrite Market Bar Graph
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >4 %

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Market Overview

The nitrite market is projected to register a CAGR of over 4% during the forecast period (2021-2026).

COVID-19 negatively impacted the agriculture market, thus, declining the market studied. Labor shortages, transportation issues, and liquidity shortages as a result of the lockdown caused by the COVID-19 pandemic affected the supply chain of the agriculture market. However, government packages for agriculture post-COVID are expected to boost the agriculture industry. The Indian government announced several measures such as agri-marketing reforms, revamp essential commodities act, and INR 1 lakh crore investment in farm gate infrastructure and logistics to raise the agriculture market. The food and beverage industry also had a significant impact due to COVID-19. However, the healthcare and pharmaceutical industries experienced an upsurge due to COVID-19, as the medicines used in the hospitals have increased.

  • In the medium term, the major factor driving the market is the rising demand from the agriculture sector.
  • On the flip side, the threat of substitutes in few applications and the negative impact of the COVID-19 pandemic are likely to hinder the growth of the market studied.
  • Asia-Pacific is projected to dominate the global market during the forecast period.

Scope of the Report

The nitrite market is segmented by type, application, and geography. By type, the market is segmented into sodium nitrite, potassium nitrite, calcium nitrite, and other types. By application, the market is segmented into agriculture, food and beverages, healthcare, pharmaceutical, and other applications. The report also covers the market size of and forecasts for the nitrite market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilotons).

Type
Calcium Nitrite
Potassium Nitrite
Sodium Nitrite
Other Types
Application
Agriculture
Food and Beverages
Healthcare
Pharmaceutical
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Agriculture Sector to Dominate the Market

  • The nitrites such as potassium, calcium, and sodium are used in the agriculture sector as fertilizers.
  • During the last decades, agricultural production and yields have been increasing along with global fertilizer and pesticide consumption. The development is observed in various developing countries and industrialized countries.
  • Around 80 % of the world’s population relies on imported food. Also, the increasing globalization is leading to sustainable conventional and organic agriculture, thus, increasing the global demand for agricultural production.
  • The increasing global population and high dependence on import foods are increasing the demand for nitrites. However, in 2020, the disruption in the supply chain globally, owing to the global COVID-19 pandemic, affected the market.
  • However, the agriculture sector is rapidly growing with investments from governments and various organizations, thus, driving the nitrite market. According to the World Bank, new IBRD (International Bank for Reconstruction and Development)/IDA (International Development Association) commitments to agriculture and related sectors totaled USD 5.8 billion in 2020. In 2020, 128 projects will have contributed to the provision of agricultural assets and services to 7.2 million farmers. Improved agricultural technology was adopted by three million farmers. On 986,000 hectares of agricultural land, farmers improved irrigation and drainage.
  • In Germany, about half of the land is used for the purpose of agriculture. It is the third-largest exporter of agricultural goods in the world. According to Destatis, in 2019, about 16,666-hectare areas are used for agriculture purposes in Germany. The area for agricultural purposes increased by 0.12% from the previous year. The states of Germany with the largest area used for agriculture include Lower Saxony, Bavaria, North Rhine-Westphalia, Baden-Wurttemberg, and Mecklenburg-Vorpommern.
  • In the United Kingdom, the total agricultural area in the country is around 17.6 million hectares. The agricultural area, excluding woodland, accounts for 72% of the total area of land.
  • Thus, the factors mentioned above are expected to increase the demand in the nitrites market during the forecast period.
Nitrite Market Share

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region dominated the market across the world, with the largest consumption from countries such as China and India.
  • China is the largest economy in terms of GDP. China is one of the fastest-growing economies globally, and almost all the applications are growing, owing to the rising population, living standards, and per-capita income.
  • Nitrites are used to cure meat products. Nitrite acts primarily as an inhibitor for some microorganisms. Nitrite added to a batter of meat is partially oxidized to nitrate by sequestering oxygen, thus acting as an antioxidant.
  • According to the Food and Agriculture Organization, the Asian region had around 136.06 million metric ton of meat produced in 2019. Also, it is predicted that the growth in consumption of meat will increase to 12% by 2029.
  • Nitrite in most countries is usually added as potassium or sodium salts, to a limited extent.
  • However, the consumption of nitrites in various applications such as the agriculture sector, the pharmaceutical sector, and the healthcare sector is expected to increase during the forecast period in the region.
  • Agriculture is the major source of livelihood for approximately 58% of the population in India. According to the India Brand Equity Foundation (IBEF), the gross value added by agriculture (along with fishing and forestry) was around USD 276.37 billion in the financial year 2020.
  • Furthermore, India holds a significant position in the global pharmaceuticals sector. India is the largest producer of generic drugs in the world. The Indian pharmaceutical industry caters to more than 50% of the global demand for various vaccines, 40% of the demand for generic medicine in the United States, and 25% of the demand for all medicines in the United Kingdom.
  • China is the second-largest market for pharmaceuticals globally. The market for pharmaceuticals is emerging rapidly, owing to the growing middle-class and aging society present in the country, rising incomes, and increasing urbanization. The pharmaceutical sales of the country are expected to reach up to USD 175 billion by 2022. This is expected to boost the growth of nitrite used in pharmaceutical applications.​
  • Owing to all the above-mentioned factors, the market is estimated to increase in the region during the forecast period.
Nitrite Market Geography Trends

Competitive Landscape

The nitrite market is fragmented in nature. Some of the major players are BASF SE, MUBY CHEMICALS, Mil-Spec Industries Corporation, Shandong Hailan Chemical Industry Co. Ltd, and Thatcher Company, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from the Agriculture Sector

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Threat of Substitutes in Few Applications

      2. 4.2.2 Negative Impact of the COVID-19 Outbreak

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Calcium Nitrite

      2. 5.1.2 Potassium Nitrite

      3. 5.1.3 Sodium Nitrite

      4. 5.1.4 Other Types

    2. 5.2 Application

      1. 5.2.1 Agriculture

      2. 5.2.2 Food and Beverages

      3. 5.2.3 Healthcare

      4. 5.2.4 Pharmaceutical

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%) Analysis**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Anmol Chemicals Group

      2. 6.4.2 BASF SE

      3. 6.4.3 Finoric LLC

      4. 6.4.4 Forbes Pharmaceutical

      5. 6.4.5 Hualong Nitrite Limited

      6. 6.4.6 Linyi Kemele Chemical Co. Ltd

      7. 6.4.7 Linyi Luguang Chemical Co. Ltd

      8. 6.4.8 Mil-Spec Industries Corporation

      9. 6.4.9 MUBY CHEMICALS

      10. 6.4.10 Shandong Hailan Chemical Industry Co. Ltd

      11. 6.4.11 Surpass Chemical Company Inc.

      12. 6.4.12 Thatcher Company

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Nitrite Market market is studied from 2016 - 2026.

The Nitrite Market is growing at a CAGR of >4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

BASF SE, Mil-Spec Industries Corporation, Shandong Hailan Chemical Industry Co., Ltd, Thatcher Company, MUBY CHEMICALS are the major companies operating in Nitrite Market.

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