Global Benzoic Acid Market is projected to reach a value of over USD 1.5 billion by 2027
Benzoic Acid Market: Summary
The Global Benzoic Acid Market is projected to reach a value of over USD 1.5 billion by 2027 at a CAGR of around 4.7%.
Benzoic acid is the simplest aromatic carboxylic acid with various functional properties, including antifungal and antibacterial properties, which have made it popular in a number of end-use industries. It is naturally found in several of fruits such as plums, prunes, raspberries, cranberries, and is primarily used in the food and beverage, chemical, and pharmaceutical industry.
Benzoic Acid Market: Drivers & Challenges
Market Driver:
- Rising Demand for Benzoic Acid from the Food & Beverages Industry
The growing demand for preserved and packaged food from the global consumer demographic is likely to drive the demand for benzoic acid as an effective natural preservative. In the food & beverages industry benzoic acid and its sodium, potassium, or calcium salts are used as a food preservative due to their effective antifungal property. Benzoic acid is particularly useful in warding off mold and yeast, though it also has a minor protective effect against bacteria. Benzoic acid’s salt is commonly used as a pH adjustor and preservative in food, preventing the growth of microbes to keep food safe. Acidic food or beverages, such as sparkling drinks, majorly require benzoic acid, as benzoic acid is more effective in an acidic pH. Thus, the growing demand for such beverages, including soft drinks and fruit juices, as well as acidic foods such as pickles and pickled food items, is likely to drive the global benzoic acid market over the forecast period.
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Benzoic Acid Market: Key Segments
- Segmentation based on application: Benzoates, Benzoate Plasticizers, Alkyd Resins, Benzoyl Chloride, Animal Feed Additive, and Others
- Segmentation based on end-use industry: Food & Beverages, Chemical, Pharmaceutical, and Others
- Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America, with individual country-level analysis.
Benzoic Acid Market: Report Scope
The report on the Benzoic Acid market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features
Specifics
Historical/Estimated/Forecasted Market Size Years
2019–2027
Base Year for Market Calculation
2020
Forecasted Period
2021–2027 (2021 estimated year, forecasted up to 2027)
Measured Units
Value (USD Million) and Volume (Kiloton)
Segments Included
Application, End-Use Industry, and Region
Regional Coverage
North America, Asia-Pacific, Europe, Middle East & Africa, South America
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Key Companies Covered
- Ganesh Benzoplast Limited. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Hemadri Chemicals
- Emerald Performance Materials
- Navyug Pharmachem (P) Ltd.
- Eastman Chemical Company
- Tianjin Dongda Chemical Group Co. Ltd.
- Alfa Aesar, Thermo Fisher Scientific
- GFS Chemicals Inc.
- Wuhan YouJi Industries Company Limited
- Spectrum Chemical Manufacturing Corp.
- MP Biomedicals LLC
- Avantor
- Choice Organochem LLP
- Other Key Companies
Benzoic Acid Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Benzoic Acid Market, by Application
- Foliar
- Fertigation
Benzoic Acid Market, by Crop Type
- Benzoates
- Benzoate Plasticizers
- Alkyd Resins
- Benzoyl Chloride
- Animal Feed Additive
- Others
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Benzoic Acid Market, by End-Use Industry
- Benzoates
- Food & Beverages
- Chemical
- Pharmaceutical
- Others
Benzoic Acid Market, by Region
- North America
- US
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
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Table of Content
1 Introduction
2 Research Design & Scope
3 Executive Summary
4 Market Dynamics
5 Industry Trends — Porters Five Forces Analysis
6 GLOBAL BENZOIC ACID MARKET BY APPLICATION, Market Size in USD Million and Volume in Kiloton (2019–2027)
7 GLOBAL BENZOIC ACID MARKET BY END-USE INDUSTRY, Market Size in USD Million and Volume in Kiloton (2019–2027)
8 GLOBAL BENZOIC ACID MARKET BY REGION, Market Size in USD Million and Volume in Kiloton (2019–2027)
9 Competitive Landscape
10 Company Profiles
11 Appendix
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