Benzoic Acid Market by End Use (Chemical Industry, Food, Beverages, Cosmetics, Personal Care, Pharmaceutical Industry), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2025-2033
The Benzoic Acid Market size was valued at USD 1.96 USD Billion in 2023 and is projected to reach USD 2.45 USD Billion by 2032, exhibiting a CAGR of 3.24 % during the forecast period. Benzoic acid is an aromatic carboxylic acid; the chemical formula contains a benzene ring linked to a carboxyl group (-COOH). It is obtained as a white crystalline solid that dissolves in water when heated or in solution with hot water. Sodium benzoate is also known as Benzoic acid sodium salt and its chemical formula is NaC7H5O2, potassium benzoate is also known as Benzoic acid potassium salt and its chemical formula is KC7H5O2 and the benzyl alcohol formula is C9H12O2. This article reveals that benzoic acid has a bacterial inhibitory potential and its chief property is that it is a preservative. It finds extensive application in food processing, in the manufacture of pharmaceuticals and in the making of dyes or plastics. Apart from the mentioned industries, benzoic acid is used as a raw material for the synthesis of other chemicals, thus underlining its significance in the industry.
End Use:
Region:
Asia-Pacific is expected to dominate the benzoic acid market due to its large population base and growing demand for processed foods and beverages.
Consumers are increasingly demanding natural and safe preservatives in their food and personal care products, which is driving the demand for benzoic acid.
Strengths:
Weaknesses:
Opportunities:
Threats:
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 3.24% from 2019-2033 |
Segmentation |
|
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 3.24% from 2019-2033 |
Segmentation |
|
Note* : In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
MR Forecast provides premium market intelligence on deep technologies that can cause a high level of disruption in the market within the next few years. When it comes to doing market viability analyses for technologies at very early phases of development, MR Forecast is second to none. What sets us apart is our set of market estimates based on secondary research data, which in turn gets validated through primary research by key companies in the target market and other stakeholders. It only covers technologies pertaining to Healthcare, IT, big data analysis, block chain technology, Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), Energy & Power, Automobile, Agriculture, Electronics, Chemical & Materials, Machinery & Equipment's, Consumer Goods, and many others at MR Forecast. Market: The market section introduces the industry to readers, including an overview, business dynamics, competitive benchmarking, and firms' profiles. This enables readers to make decisions on market entry, expansion, and exit in certain nations, regions, or worldwide. Application: We give painstaking attention to the study of every product and technology, along with its use case and user categories, under our research solutions. From here on, the process delivers accurate market estimates and forecasts apart from the best and most meaningful insights.
Products generically come under this phrase and may imply any number of goods, components, materials, technology, or any combination thereof. Any business that wants to push an innovative agenda needs data on product definitions, pricing analysis, benchmarking and roadmaps on technology, demand analysis, and patents. Our research papers contain all that and much more in a depth that makes them incredibly actionable. Products broadly encompass a wide range of goods, components, materials, technologies, or any combination thereof. For businesses aiming to advance an innovative agenda, access to comprehensive data on product definitions, pricing analysis, benchmarking, technological roadmaps, demand analysis, and patents is essential. Our research papers provide in-depth insights into these areas and more, equipping organizations with actionable information that can drive strategic decision-making and enhance competitive positioning in the market.