Global Benzoic Acid Market is predicted to reach USD 1.66 billion at a CAGR of 5.41% during the forecast period

Pune, India, December 24, 2018 /MRFR Press Release/- Market Research Future published a cooked research report on Global Benzoic Acid Market.

Market Research Future (MRFR) has published a cooked research report on the “Global Benzoic Acid Market” that contains information from 2022 to 2030. The Global Benzoic Acid Market is estimated to register a CAGR of 5.41% during the forecast period of 2022 to 2030.

MRFR recognizes the following companies as the key players in the Global Benzoic Acid Market— Ganesh Benzoplast Limited, Tianjin Dongda Chemical Group Co. Ltd, Choice Organochem LLP, Spectrum Chemical Manufacturing Corp, Hemadri Chemicals, Emerald Performance Materials, Wuhan YouJi Industries Company Limited, Alfa Aesar, Thermo Fisher Scientific, Avantor, and MP Biomedicals LLC.

Market Highlights

Global Benzoic Acid Market is accounted to register a CAGR of 5.41% during the forecast period and is estimated to reach USD 1.66 Billion by 2030.

Benzoic acid is a white crystalline organic compound with the chemical formula C7H6O2. It is a simple aromatic carboxylic acid and occurs naturally in various plants, fruits, and their derivatives. Benzoic acid is often used as a preservative in food and beverages due to its ability to inhibit the growth of bacteria, yeasts, and molds. It also finds applications in the production of various chemicals, such as benzoate salts, which are utilized as food additives and in industrial processes. Additionally, benzoic acid serves as a building block for the synthesis of pharmaceuticals, dyes, fragrances, and plastics, contributing to its significance in a wide range of industries.

Segment Analysis

The Global Benzoic Acid Market has been segmented based on Application, and End-Use.

Based on Application, the market is segmented into Sodium Benzoate, Potassium Benzoate, Benzyl Benzoate, Benzoate Plasticizer, Alkyd Resin, Benzoyl Chloride, Feed Additive, and Others. The prevalence of Sodium Benzoate in the Benzoic Acid market is attributed to its efficient antimicrobial properties and widespread use as a safe and effective preservative in various industries.

Based on End-Use, the market is segmented into Food & Beverages, Chemical Industry, Pharmaceutical Industry, and Others. The Food & Beverages category prevails in the market owing to the essential need for quality assurance, safety, and filtration in food and beverage production processes.

Regional Analysis

The Global Benzoic Acid Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Benzoic Acid Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Benzoic Acid Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Global Benzoic Acid Market comprises of Middle East, Africa, and Latin America.

In 2021, the Asia-Pacific region dominated the Benzoic Acid market with a value of USD 0.40 billion, and it is projected to display a 5.35% compound annual growth rate (CAGR) throughout the study period. This is primarily attributed to the heightened consumption of plasticizers in countries like India and China due to their high per capita plastic use, leading to an increased demand for benzoic acid, especially beyond the food and beverage sectors. Additionally, rising preferences for sodium and potassium benzoate have contributed to the overall growth of the benzoic acid market in the region, spurred by various factors, including the maturing animal feed industry in countries like India.

Europe holds the second-largest market share for benzoic acid, driven by escalating demand across a spectrum of applications, prominently within the food sector. Within Europe, the German market claims the largest market share, while the UK market emerges as the fastest-growing.

The projected growth of the Asia-Pacific Benzoic Acid market from 2022 to 2030 stands at a 5.35% CAGR. This momentum is propelled by the region's expanding use of benzoic acid in food and beverage items and the surging demand from the chemical industries, particularly in developing nations like China and India.

Key Findings of the Study

• The Global Benzoic Acid Market is expected to reach USD 1.66 Billion by 2030, at a CAGR of 5.41% during the forecast period.


• Europe commands the second most substantial market share, fueled by a surge in demand spanning various applications, particularly within the food industry. Notably, in Europe, the largest market share is secured by Germany, while the UK's market stands out as the one experiencing the most rapid growth.


• Based on the Application, the Market has been segmented into Sodium Benzoate holding the largest market in 2022.


• Ganesh Benzoplast Limited, Tianjin Dongda Chemical Group Co. Ltd, Choice Organochem LLP, Spectrum Chemical Manufacturing Corp, Hemadri Chemicals, Emerald Performance Materials, Wuhan YouJi Industries Company Limited, Alfa Aesar, Thermo Fisher Scientific, Avantor, and MP Biomedicals LLC.

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