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Global Benzoic Acid Market - By Product (Food Grade Benzoic Acid, Food Grade Benzoic Acid, Industrial Grade Benzoic Acid), By Application (Personal Care & Cosmetics, Food & Beverages, Pharmaceuticals, Plastics, Paints, Others) - Trends and Forecast to 2030
Type: PDF
Status: Syndicate
Categories: Advance Materials
Report Code : AM23
No. of Pages : 150
Benzoic acid is a carboxylic acid with various utilitarian characteristics, such as antifungal and antibacterial attributes, which have made it widely accepted in various end-use applications. Benzoic acid is naturally available in various fruits, including plums, cranberries, prunes and raspberries, and is basically used in the food and beverage, chemical, and pharmaceutical industries.
The global benzoic acid market in 2023 was approximately USD 1.1 Billion. The market is expected to grow at a CAGR of 5.4% and is anticipated to reach around USD 2.5 Billion by 2030. Rising demand from the food and beverage industry is estimated to be a key driver for the benzoic acid market. Few other factors such as benzoic acid and its potassium, sodium, or calcium salts act as a food preservative due to their effectual antifungal property and it is useful in warding off mold and yeast, and also has a minor protective effect against bacteria are fuelling the market.
The rising demand for preserved and packaged food from the global consumer demographic is anticipated to drive the demand for effective natural preservatives such as benzoic acid. However, the long-time use of benzoic acid can cause harm to lungs which impede the market.
The market for benzoic acid is intensely competitive and is highly fragmented. The vendors in the benzoic acid market compete based on product portfolio, product differentiation, applications, and the pricing of products. The rise in technological innovations in designing the products for better quality, ease of use and better performance is expected to continue to intensify the level of competition among the companies to expand their product portfolios by incorporating innovative features, into their product.
Key players in the market are Foodchem, Yash Rasayan & Chemicals, San Fu, Hubei Phoenix Chemical, FUSHIMI Pharmaceutical, Navyug Pharmachem, Eastman, Hebei Smart Chemicals Company (HSCC), Liao Ning Huayi Chemical, JQC (Huayin) Pharmaceutical, Wuhan Dico Chemical, Changzhou Hubin Medicine, Emerald Kalama Chemical, Tengzhou Tenglong Chemical, & REMI FINE CHEM.
Report Code
AM23
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2. Excel Data Sheet
3. Two Countries can add as per your choice
4. Two Company can add as per your choice
5. 35+ Countries
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1. Client will get one updated report for a year.
2. Quarterly Industry Update for 1 Year.
3. One research analyst will allocate to you.
4. Query will be resolved within 36 hours.
5. 24*7 Research Support.
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