Global Benzoic Acid Market

5 Major Insights Into The Benzoic Acid Market Report 2024

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033


The Business Research Company’s Benzoic Acid Global Market Report 2024 offers crucial insights into the benzoic acid market help businesses analyse and build stronger strategies.


Stellar Expansion: An Overview

  • Market size surges from $1.31 billion in 2023 to $1.39 billion in 2024.
  • Compound annual growth rate (CAGR) stands at 5.8%.


Historical Perspectives: Driving Factors

  • Demand for food preservation.
  • Pharmaceutical applications.
  • Chemical intermediate usage.
  • Growing end-use industries.
  • Stringent regulatory standards.


Envisioning Future Growth

  • Projected market size of $1.71 billion by 2028.
  • Expected CAGR of 5.4%.


Anticipated Growth Drivers

  • Population growth dynamics.
  • Rising healthcare requisites.
  • Technological advancements.
  • Economic development stimuli.
  • Embrace of sustainable practices.


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Emerging Trends Shaping the Market

  • Shift towards benzoic acid salts.
  • Increasing demand in plasticizer production.
  • Growth in end-use industries in emerging economies.
  • Research and development for novel applications.


Rising Processed Food Demand Boosts Benzoic Acid Market

Understanding the Catalyst

  • Surge in processed food consumption.
  • Utilization of benzoic acid as a preservative.


Quantifying the Trend

  • US online grocery market projected to reach $187.7 billion by 2024.
  • Benzoic acid aids in extending shelf life and maintaining quality.


Industry Giants Leading the Way

  • Emerald Kalama LLC.
  • IG Petrochemicals Ltd.
  • Merck KGaA.
  • Lanxess AG.
  • Eastman Chemical Company.


Benzoic Acid Market Leaders Embrace Product Innovation

Driving Force Behind Innovation

  • Focus on product innovation for market sustainability.


Notable Innovation

  • Menno Chemie GmbH & Co KG. launches A-QUASAN, a novel disinfectant formulated with benzoic acid.


Strategic Acquisitions Fuel Growth

Acquisition Strategy

  • Lanxess AG strengthens portfolio through acquisition.
  • Emerald Kalama acquisition aimed at bolstering high-margin product offerings.


Segmentation Insights

Unveiling Market Dynamics

  1. By Form:
    • Powder.
    • Granules.
  2. By Application:
    • Sodium Benzoate.
    • Potassium Benzoate.
    • Benzyl Benzoate.
    • Benzoate Plasticizers.
    • Alkyd Resin.
    • Benzoyl Chloride.
    • Feed Additives.
    • Other Applications.
  3. By End Use:
    • Food And Beverages.
    • Chemical Industry.
    • Pharmaceutical Industry.
    • Other End Uses.


Regional Dominance

  • North America leads the global benzoic acid market in 2023.
  • Asia-Pacific poised as the fastest-growing region in the forecast period.

In conclusion, the benzoic acid market is experiencing robust growth propelled by diverse factors ranging from the demand for food preservation to the embrace of sustainable practices. With a focus on product innovation, strategic acquisitions, and segmentation insights, industry leaders are poised to capitalize on emerging opportunities, shaping a dynamic landscape for the benzoic acid market in the years ahead.


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The Benzoic Acid Global Market Report 2024  provides a comprehensive outlook of the benzoic acid market for the historic years (2010 – 2021) and ten years forecast (2023 – 2032). The benzoic acid market forecast offers a thorough analysis on benzoic acid market size, benzoic acid market share, prominent players and their strategies.


The Table Of Content For The Benzoic Acid Market Include:
1. Benzoic Acid Market Executive Summary
2. Benzoic Acid Market Segments
3. Benzoic Acid Market Size And Benzoic Acid Market Growth Rate
4. Key Benzoic Acid Market Trends
5. Major Benzoic Acid Market Drivers
25. Key Mergers And Acquisitions In The Benzoic Acid Market
26. Top Benzoic Acid Companies
27. Benzoic Acid Market Opportunities And Strategies
28. Benzoic Acid Market, Conclusions And Recommendations
29. Appendix


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