Benzoic Acid Market by Application (Benzoates, Benzoate Plasticizers, Alkyd Resins, Benzoyl Chloride, Animal Feed Additive), by End-Use Industry (Food & Beverages, Chemical, Pharmaceutical), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast 2020 to 2027

Benzoic Acid Market - Global Industry Analysis and Forecast 2020 to 2027

Benzoic Acid Market: Summary

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.

Benzoic Acid Market

Benzoic Acid Market: Drivers & Challenges

Market Driver:

  • Rising Demand for Benzoic Acid from the Food & Beverages Industry

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.

Benzoic Acid Market: Key Segments

  • Segmentation based on application: Benzoates, Benzoate Plasticizers, Alkyd Resins, Benzoyl Chloride, Animal Feed Additive, and Others
  • Segmentation based on end-use industry: Food & Beverages, Chemical, Pharmaceutical, and Others
  • Segmentation based on region covers: North America, Asia-Pacific, Europe, Middle East & Africa and South America, with individual country-level analysis.

Benzoic Acid Market: Report Scope

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

Key Companies Covered

  • Ganesh Benzoplast Limited. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Hemadri Chemicals
  • Emerald Performance Materials
  • Navyug Pharmachem (P) Ltd.
  • Eastman Chemical Company
  • Tianjin Dongda Chemical Group Co. Ltd.
  •  Alfa Aesar, Thermo Fisher Scientific
  • GFS Chemicals Inc.
  • Wuhan YouJi Industries Company Limited
  • Spectrum Chemical Manufacturing Corp.
  • MP Biomedicals LLC
  • Avantor
  • Choice Organochem LLP
  • Other Key Companies

Benzoic Acid Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Benzoic Acid Market, by Application

  • Foliar
  • Fertigation

Benzoic Acid Market, by Crop Type

  • Benzoates
  • Benzoate Plasticizers
  • Alkyd Resins
  • Benzoyl Chloride
  • Animal Feed Additive
  • Others

Benzoic Acid Market, by End-Use Industry

  • Benzoates
  • Food & Beverages
  • Chemical
  • Pharmaceutical
  • Others

Benzoic Acid Market, by Region

  • North America
    • US
    • Canada
    • Mexico
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Rest of South America

Key Questions Answered By The Report

  • What are the prominent developments affecting the market worldwide and its growth?
  • What will be the impact of the developments in the market on the industry and on the market players in the future?
  • What are the evolving variations of the market globally?
  • What are the evolving functions of the market globally?
  • What are the prominent aspects that will affect market growth globally during the study period?
  • Who are the key players operating in the market across the globe?
  • How are the key players leveraging in the present market scenario worldwide?

Report Audience

  • Benzoic Acid Market Providers
  • Benzoic Acid Market Solution and Services Suppliers, Distributors and Dealers
  • End-Users of Varied Segments of Benzoic Acid Market
  • Government Bodies and Intellectual Institutions
  • Associations and Industrial Organizations
  • Research & Consulting Service Providers
  • Research & Development Organizations
  • Investment Banks & Private Equity Firms

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE BENZOIC ACID MARKET STUDY

  1. INTRODUCTION
    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
  2. RESEARCH DESIGN & SCOPE
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
  3. EXECUTIVE SUMMARY
  4. MARKET DYNAMICS
    1. Introduction
    2. Drivers
      1. Rising Demand for Benzoic Acid from the Food & Beverages Industry
      2. Increasing Demand for Processed Food Items & Beverages
    3. Restraint
      1. Regulations to Limit the Use of Benzoic Acid in Packaged Food Items & Beverages
      2. Hazardous Health Affects
    4. Opportunities
      1. Replacement of Phthalate Plasticizers with Non-Phthalate Plasticizers In the European and North American Regions
    5. Challenges
      1. Fluctuating Prices of Toluene
  5. INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
    1. Introduction
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Macro-Economic Indicators
  6. GLOBAL BENZOIC ACID MARKET BY APPLICATION, Market Size in USD Million and Volume in Kiloton (2019-2027)
    1. Introduction
    2. Benzoates
    3. Benzoate Plasticizers
    4. Alkyd Resins
    5. Benzoyl Chloride
    6. Animal Feed Additive
    7. Others
  7. GLOBAL BENZOIC ACID MARKET BY END-USE INDUSTRY, Market Size in USD Million and Volume in Kiloton (2019-2027)
    1. Introduction
    2. Food & Beverages
    3. Chemical
    4. Pharmaceutical
    5. Others
  8. GLOBAL BENZOIC ACID MARKET BY REGION, Market Size in USD Million and Volume in Kiloton (2019-2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of Asia-Pacific
    3. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Russia
      6. Rest of Europe
    4. Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
  9. COMPETITIVE LANDSCAPE
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
  10. COMPANY PROFILES
    1. Ganesh Benzoplast Limited.
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
      5. SWOT Analysis
    2. Hemadri Chemicals
    3. Emerald Performance Materials
    4. Navyug Pharmachem (P) Ltd.
    5. Eastman Chemical Company
    6. Tianjin Dongda Chemical Group Co. Ltd.
    7.  Alfa Aesar, Thermo Fisher Scientific
    8. GFS Chemicals Inc.
    9. Wuhan YouJi Industries Company Limited
    10. Spectrum Chemical Manufacturing Corp.
    11. MP Biomedicals LLC
    12. Avantor
    13. Choice Organochem LLP
    14. Other Key Companies
  11. APPENDIX
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options

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

Rep Id : CM 0134

Published : August, 2020


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