Sodium Selenite Market

Sodium Selenite Market Size (2023 to 2028)

The global sodium selenite market is poised to register a CAGR of 7.2% from 2023 to 2028 and the market size is predicted to be valued at USD 67.40 million in 2023 and USD 98.87 million by 2028.

Sodium Selenite Market Share Insights:

• Based on the type, the feed grade segment had the dominating share of the global market in 2022.
• Based on application, the food industry held the major share of the worldwide market in 2022.
• Based on region, North America accounted for the largest share of the global market in 2022.

Impact of COVID-19 on the global sodium selenite market:

The COVID-19 pandemic has had a detrimental impact on the worldwide sodium selenite market. The disruptions caused by the COVID-19 pandemic in the global supply chain systems due to lockdowns, social isolation and strict restrictions have negatively impacted the global sodium selenite market. Sodium selenite has applications in various industries, including F&B, glass and many more. The situations created by the COVID-19 pandemic, such as the disruptions in the global supply chains and labor shortages, have raised demand and supply gaps in sodium selenite products. However, the sodium selenite market is estimated to register a healthy growth rate during the forecast period.

MARKET DRIVERS:

The growing usage of sodium selenite in glass and pesticides is one of the major factors propelling the global market growth. In the glass industry, sodium selenite is used for coloring and decoloring and adding pinkish and removing green colors. Such glass has a wide range of applications in various industries such as electronics, building, construction and automotive. Large spending in new construction and renovation activities is anticipated to push demand for glass and steel. Also, they are used as an insecticide to control mites and aphids. It is also used as a fungicide.

The growing use of sodium selenite as a supplement contributes to the growth of the global market. The demand for sodium selenite is rising rapidly due to its use as a supplement. It can be used as a supplement for poultry and livestock. It is also used with other minerals such as zinc, copper, iodine, and sulfate to reduce the deficiencies if these trace elements are not supplemented through diet. It also affects reproduction and immune function, so it can be recommended due to its health benefits. People with low dietary selenium consumption or those at elevated risk for selenium insufficiency can take nutritional supplements prepared with sodium selenite. These supplements may be advertised as strengthening the immune system, increasing overall wellness and health, and having antioxidant properties. Also, animal feed recipes can include sodium selenite as a supplement, especially for livestock and poultry. Animals' immune systems, reproductive health, and healthy growth depend on selenium. It is possible to provide appropriate selenium consumption for animals by introducing sodium selenite into animal feed, resulting in healthier and more fruitful cattle.

The growing usage of sodium selenite in various applications across the food industry fuels the market’s growth rate. Selenium is regarded as a vital element and is recognized to be good for human health. It is necessary for trace levels for several physiological processes. Selenium is occasionally employed as a nutritional supplement or food fortifier in the food business. Multifunctional foods, or foods fortified with selenium, are created to add additional sources of selenium to the diet. Selenium can be supplemented to boost the amount of selenium in some foods, including bread, pasta, rice, and cereal. This is done to correct selenium insufficiency in communities with inadequate dietary consumption or soil selenium levels. A practical strategy to increase selenium consumption and enhance nutritional status is fortified foods.

Factors such as the growing demand for feed additives, growing usage of sodium selenite in developing countries such as India and China, increasing demand for sodium selenite in animal feed industries, rising awareness about sodium selenite among people, expansion of pharmaceutical and nutraceutical applications, and rising use of sodium selenite in agricultural sector further propel the growth of the global sodium selenite market.

MARKET RESTRAINTS:

The availability of alternate sources of selenium primarily hinders the sodium selenite market. Selenomethionine is an alternative source available to sodium selenite and becoming more common in food and feed supplements, which is another major restraining factor. Sodium selenite contaminates the environment, Also, the strict laws set by various governmental authorities and environmental agencies restrict the use of sodium selenite due to its potential toxicity and negative effect on the environment. Furthermore, the lack of readily available raw materials for manufacturing sodium selenite hinders market growth. Side effects associated with the excessive use of sodium selenite, such as skin rashes, abnormal functioning of the nervous system and shortness of breath, further impede the global market growth.

REPORT COVERAGE:

This research report on the sodium selenite market has been segmented and sub-segmented based on the product, application and region.

Sodium Selenite Market – By Type:

• Feed Grade
• Industry Grade
• Food Grade
• Other

Based on the type, the feed grade segment is expected to dominate the market during the forecast period. Sodium selenite is used in the feed industry as a supplement for livestock and poultry to avoid deficiency that occurs. Sodium selenite also affects immune function and reproduction and is recommended by veterinarians for its health benefits. The feed grade segment is anticipated to hold the largest share of the worldwide sodium selenite market during the forecast period. The shortage of sodium selenite in feed can result in several health problems, such as lower try and a weakened immune system, which helps boost the demand for sodium selenite products.

The industry-grade segment is expected to grow at a promising CAGR during the forecast period. Sodium selenite is used in the glass industry as a frit ingredient, sodium selenite improves the stability of the compound by preventing chromium from oxidizing into its hexavalent form. Industrial grade sodium selenite also uses as an additive for paints because it affects viscosity.

Sodium Selenite Market – By Application:

• Feed Additives
• Food Industry
• Glass Industry
• Health Care
• Agriculture
• Others

Based on application, the food industry is anticipated to account for the major share of the worldwide market during the forecast period. The sodium selenite, majorly used in the food industry as an ingredient for making food that is typically used with high sodium content, provides a small amount of nutrition to affect this issue so these products can be marketed to people who have a low intake of their diet. It also has no significant effect on taste or appearance, which makes it preferable to many consumers.

The glass industry segment is expected to account for a notable share of the worldwide market during the forecast period. Sodium selenite is used in the glass industry as a frit ingredient. Sodium selenite improves the stability of the compound by preventing chromium from oxidizing into its hexavalent form, Sodium selenite has a major application associated with the glass industry.

Sodium Selenite Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Geographically, the North American region accounted for the largest share of the worldwide market in 2022. The domination of the North American region is expected to continue throughout the forecast period. The livestock and poultry industries use feed-grade sodium selenite most frequently. Glass manufacture is an example of an industrial-grade application. In contrast, bread, cakes, and other foods that may include a lot of salt are examples of food-grade usage that is more common than in other areas. The U.S., followed by Canada, is estimated to account for the major share of the North American market during the forecast period owing to the growing consumer awareness around the benefits of sodium selenite in human nutrition and the availability of livestock farms.

The Asia-Pacific regional market was the second biggest regional segment worldwide in 2022 and is expected to grow at the fastest CAGR during the forecast period. The growing need for sodium selenite in the food and beverage industry across the APAC region majorly drives the APAC market growth. The growing middle-class population and rising demand for packaged and processed food further fuel the growth rate of the APAC market. Sodium selenite is often used as a food ingredient in the food and beverage industry because of its anti-inflammatory properties. The rapidly growing animal feed industry in Asia-Pacific drives the APAC market growth.

Europe is another prominent regional market for sodium selenite and is estimated to account for a substantial share of the worldwide market during the forecast period. Food grades are used for items like bread, cakes, and other items that may have a high salt content, while commercial grades are mostly used as an ingredient for glass manufacture. Europe's robust food and beverage industry is expected to increase demand for sodium selenite as a food ingredient. The rising need for organic and naturally derived food products is also projected to support growth in the market in the European region. The European region has a strong pharmaceutical industry, predicted to increase the need for sodium selenite as a dietary supplement.

Latin America is anticipated to showcase a healthy growth rate in the coming years. Due to Panama's considerable dairy industry and its meat-based exports, feed additives make up a significant portion of the market by category. Food grades are also common, notably in Brazil, where they can be included in pizza dough before baking to prevent the salty taste from overpowering the flavor.

The Middle East and Africa region is expected to register a moderate CAGR during the forecast period.

KEY MARKET PLAYERS:

Alfa Aesar, American Elements, Baoding Yutong Zinc Industry Co. Ltd, Carbon Group, Jost Chemical Co., Noah Technologies Corporation, Química Del Rey SA de CV, Spectrum Chemical Manufacturing Corp, Triveni Chemicals and Xi'an Unique Electronic & Chemical Co., Ltd. are some of the major companies in the global sodium selenite market.

RECENT MARKET DEVELOPMENTS:

• In February 2022, Carbon Group loading global producer of specialty chemicals, announced the acquisition of a manufacturing plant in China to expand its capacity for producing Sodium Selenite for the anal food and food industry.
• In October 2021, Chemical Co announced the launch of a new line of Sodium Sente products for the pharmaceutical industry. The new products are designed to meet the growing demand for high-quality and cost-effective sodium selenite.