Global Benzoic Acid Market: Brief Account

The global benzoic acid market will witness a strong demand during the forecast period of 2018 – 2026 due to it wide variety of applications in food and beverage industry. Benzoic acid is a colorless and crystalline aromatic carboxylic acid. Benzoic was initially extracted from resin of tree that belonged to the Styrax genus. Benzoic acid is extensively used for preserving food products in food and beverage industry. It helps in curbing the growth of fungi and bacteria. Benzoic acid is also used as a chemical reagent. Surge in demand for packaged food and beverages due to rise in working class people and rapid urbanization have fueled the demand for benzoic acid. Increase in working hours and need for nutrient rich food have made consumers to opt for packaged food instead of homemade meals.

Global Benzoic Acid Market: Trends and Opportunities

The global benzoic acid market is riding on the high demand for packaged food and beverages throughout the world. Benzoic acid is used to preserve these food products thus increasing the shelf-life of these products. Benzoic acid is also used for preserving acidified food products like pickles, sparkling drinks, and fruit juice, as the ability to produce desired results depends on the pH of food. Rising demand to substitute phthalate plasticizers for different applications is expected to boosts the global benzoic acid market growth.

Apart from food and beverage industry, benzoic acid also finds its application in plastics, pharmaceutical, chemical, and other industries. Benzoic acid can also finds its application for animal feed, dye intermediates, and medical purposes. Benzoic acid is used for treating fungal skin diseases such as athlete’s foot, tinea, ringworm, etc. All these factors are anticipated to boosts the global benzoic acid market growth. Furthermore, benzoic acid plays an integral role in manufacturing cosmetics products. Benzoic acid is an import ingredient in the toothpastes, deodorants, mouthwashes, etc. In these cosmetic products, benzoic acid acts as an anti-microbial agent. Apart from these, the cheap price and easy availability of benzoic acid is likely to favor the global benzoic acid market growth.

Global Benzoic Acid Market: Regional Outlook

The global benzoic acid market is segregated into Europe, Latin America, Middle East and Africa, North America, and Asia Pacific. Of these, Asia Pacific has seen a gradual rise in consumption of benzoic acid over past few years, owing to rise in per-capita disposable income along with gradual shift towards packaged foods. The major contributor in this region are China and India. North America is anticipated to expand at a robust CAGR during the assessed period.

Global Benzoic Acid Market: Companies Mentioned

Some of the key players in the global benzoic acid market are Chemcrux Enterprises ltd, Emerald Kalama Chemical, Shri Hari Chemicals, Huangashi Taihua Industry, and Novaphene.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.