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.
Market Driver:
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.
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 |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Benzoic Acid Market, by Application
Benzoic Acid Market, by Crop Type
Benzoic Acid Market, by End-Use Industry
Benzoic Acid Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE BENZOIC ACID MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY