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Benzoic Acid Market Size, Industry Trends And Forecast To 2032 - Emerald Kalama LLC, IG Petrochemicals Ltd., Merck KGaA, Chemcrux Enterprises Ltd., The Chemical Company
Benzoic Acid Market Growth
The Business Research Company's Benzoic Acid Global Market Report 2023 identifies the increasing demand for processed foods as the major driver for the Benzoic Acid market's growth in the forecast period. Processed foods refer to food products that have undergone various alterations or modifications through processing techniques before they are consumed. These alterations can include the addition of preservatives and additives. Benzoic acid is widely used as a preservative in processed food products due to its antimicrobial properties, which help prevent the growth of bacteria, fungi, and yeast. It helps extend the shelf life of food items and maintain their quality and safety.
The global benzoic acid market size is expected to grow from $1.24 billion in 2022 to $1.31 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global benzoic acid market size is expected to reach $1.61 billion in 2027 at a CAGR of 5.3%.
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Major competitors in the Benzoic Acid market are Emerald Kalama LLC, IG Petrochemicals Ltd., Merck KGaA, Chemcrux Enterprises Ltd., The Chemical Company, Ganesh Benzoplast Ltd., Huayin Jinqiancheng Pharmaceutical Co Ltd., Wuhan Youji Industries Co Ltd., Tianjin Dongda Chemical Group Co Ltd., Lanxess AG, Eastman Chemical Company, Avantor Inc., Novaphene Specialties Pvt Ltd, DuPont de Nemours Inc., and Krishna Specialty Chemicals Pvt Ltd.
A key trend in the Benzoic Acid market includes the product innovation. Major companies operating in the benzoic acid market are focused on product innovations to sustain their position in the market. For instance, in June 2022, Menno Chemie GmbH & Co KG., a Germany-based chemical wholesaler company, launched A-QUASAN, a novel disinfectant formulated with benzoic acid for all sectors of fresh produce processing and the disinfection of drinking water systems. A-QUASAN is a highly effective at low concentrations against a wide spectrum of pathogens.
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The Benzoic Acid market is segmented -
By Form: Powder, Granules
By Application: Sodium Benzoate, Potassium Benzoate, Benzyl Benzoate, Benzoate Plasticizers, Alkyd Resin, Benzoyl Chloride, Feed Additives, Other Applications
By End Use: Food And Beverages, Chemical Industry, Pharmaceutical Industry, Other End Uses
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Benzoic Acid market.
The Business Research Company's "Global Benzoic Acid Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Benzoic Acid Market Include:
1. Executive Summary
2. Benzoic Acid Market Characteristics
3. Benzoic Acid Market Trends And Strategies
4. Benzoic Acid Market - Macro Economic Scenario
5. Benzoic Acid Market Size And Growth
……
26. Africa Benzoic Acid Market
27. Benzoic Acid Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Benzoic Acid Market
29. Benzoic Acid Market Future Outlook and Potential Analysis
30. Appendix
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Report Description
This report analyzes the global benzoic acid market by derivative (alkyl benzene, cumene, cyclohexane, ethyl benzene, nitro benzene and others) and region; it also studies the top manufacturers in the market.
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The major players in global benzoic acid market include:
• Hebei Smart Chemicals Co.,Ltd (China)
• Emerald Performance Materials LLC (U.S.)
• Novaphene specialties pvt ltd (India)
• Shri Hari Chemicals (India)
• Chemcrux Enterprises (India)
• Apollo Scientific (UK)…
