[250 Pages Report] Global benzoates demand is anticipated to be valued at US$ 5.3 Billion in 2022, forecast to grow at a CAGR of 5.2% to be valued at US$ 8.8 Billion from 2022 to 2032. In the foreseeable future, developed regions such as North America, Europe, and Central and South America are likely to increase demand for benzoates.
| Report Attributes | Details |
|---|---|
| Estimated Base Year Value (2021) | US$ 5 Billion |
| Expected Market Value (2022) | US$ 5.3 Billion |
| Anticipated Forecast Value (2032) | US$ 8.8 Billion |
| Projected Growth Rate (2022 to 2032) | 5.2% CAGR |
Benzoic acid is a white crystalline solid that is a simple aromatic carboxylic acid. Its sole known source is gum benzoic, from whence the word "benzoic" was derived. Benzoic acid is a naturally occurring chemical found in plants that acts as an intermediary in the production of a variety of secondary metabolites.
Benzoic acid is a critical precursor in the commercial synthesis of a wide range of organic compounds. In the food business, benzoic acid salts are used as food preservatives. Benzoates are the esters and salts of benzoic acid.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The increased demand from the food sector is the primary driver of the benzoate business. Other industries, such as pharmaceutical and cosmetics, are likely to raise global demand for benzoates. Food safety, extended shelf life of food, rising living standards, particularly in emerging nations, and continued urbanization are expected to drive market expansion.
Certain health risks caused by benzoates, as stated by the FDA and World Health Organizations, are known to stymie the benzoate market's expansion. Ascorbic acid, when combined with sodium benzoate, produces benzene, which is a recognized carcinogen. This carcinogen is anticipated to endanger human health.
Principal Consultant
Asia Pacific was the largest market for Benzoates and the trend is expected to continue into the forecast period owing to rapid urbanization in this region. Growing demand for electronics and automotives are indirectly expected to in acidic circumstances, it is reported to be fungi static and bacteriostatic. It is commonly used in foods that are naturally acidic, such as salad dressings, fruit juices, jams, and carbonated beverages.
Sodium benzoate is also employed as a preservative in the food sector for items such as barley water, tomato and other sauces, crushes, fruit jellies, coffee extracts, and squashes. Sodium benzoate is also used in cosmetics and pharmaceuticals as a preservative. It is used in pyrotechnics as a powdered fuel that emits a whistling sound. As a result, when the whistle mix cracker and rockets are fired, they generate sound.
According to Future Market Insights, Europe is expected to provide immense growth opportunities for Benzoates, with Germany expected to steer the bulk of all regional growth. Extensive applications in the food industry are keeping sales of Benzoates afloat across Germany.
Potassium benzoate and sodium benzoate are the two forms of benzoates. Potassium benzoate is used in food preservation. It inhibits the growth of yeast, moulds, and certain bacteria and works well in goods with pH less than 4.5. Potassium benzoate occurs as benzoic acid in low pH goods. Potassium benzoate is used to preserve acidic foods and beverages such as sparkling drinks, fruit juices, pickles, and soft drinks. It is used and approved in Europe. Potassium benzoate is designated by the letter E, E212, in these countries.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Some of the key participants present in the global Benzoates market include Poulvet, RM Chemicals, The Good Scents Company, Taj Pharmaceuticals, Sakshi Dyes and Pharmaceuticals among others.
Attributed to the presence of such high number of participants, the market is highly competitive.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 5.2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
|
| Regions Covered |
|
| Key Countries Profiled |
|
| Customization | Available Upon Request |
FMI projects the global Benzoates market to expand at a 5.2% value CAGR by 2032
Asia Pacific is expected to be the most opportunistic Benzoates market.
Poulvet, RM Chemicals, The Good Scents Company, Taj Pharmaceuticals, Sakshi Dyes and Pharmaceuticals are some prominent Benzoates manufacturers
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Benzoates Market Analysis 2017-2021 and Forecast, 2022-2032 4.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis, 2017-2021 4.2. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Projections, 2022-2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Benzoates Market Analysis 2017-2021 and Forecast 2022-2032, By Product Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Product Type, 2017-2021 5.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Product Type, 2022-2032 5.3.1. Sodium Benzoate 5.3.2. Potassium Benzoate 5.4. Y-o-Y Growth Trend Analysis By Product Type, 2017-2021 5.5. Absolute $ Opportunity Analysis By Product Type, 2022-2032 Deep-dive segmentation will be available in the sample on request 6. Global Benzoates Market Analysis 2017-2021 and Forecast 2022-2032, By Grade 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Grade, 2017-2021 6.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Grade, 2022-2032 6.3.1. Pharmaceuticals & Personal Care 6.3.2. Food & Beverages 6.3.3. Others 6.4. Y-o-Y Growth Trend Analysis By Grade, 2017-2021 6.5. Absolute $ Opportunity Analysis By Grade, 2022-2032 Deep-dive segmentation will be available in the sample on request 7. Global Benzoates Market Analysis 2017-2021 and Forecast 2022-2032, By Application 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Application, 2017-2021 7.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Application, 2022-2032 7.3.1. Food & Beverages 7.3.2. Personal Care and Cosmetics 7.3.3. Pharmaceuticals 7.3.4. Animal Feed 7.3.5. Others 7.4. Y-o-Y Growth Trend Analysis By Application, 2017-2021 7.5. Absolute $ Opportunity Analysis By Application, 2022-2032 Deep-dive segmentation will be available in the sample on request 8. Global Benzoates Market Analysis 2017-2021 and Forecast 2022-2032, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Region, 2017-2021 8.3. Current Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Region, 2022-2032 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. East Asia 8.3.5. South Asia & Pacific 8.3.6. MEA 8.4. Market Attractiveness Analysis By Region 9. North America Benzoates Market Analysis 2017-2021 and Forecast 2022-2032, By Country 9.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 9.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 9.2.1. By Country 9.2.1.1. U.S. 9.2.1.2. Canada 9.2.2. By Product Type 9.2.3. By Grade 9.2.4. By Application 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product Type 9.3.3. By Grade 9.3.4. By Application 9.4. Key Takeaways 10. Latin America Benzoates Market Analysis 2017-2021 and Forecast 2022-2032, By Country 10.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 10.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Product Type 10.2.3. By Grade 10.2.4. By Application 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product Type 10.3.3. By Grade 10.3.4. By Application 10.4. Key Takeaways 11. Europe Benzoates Market Analysis 2017-2021 and Forecast 2022-2032, By Country 11.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 11.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. U.K. 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Product Type 11.2.3. By Grade 11.2.4. By Application 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product Type 11.3.3. By Grade 11.3.4. By Application 11.4. Key Takeaways 12. East Asia Benzoates Market Analysis 2017-2021 and Forecast 2022-2032, By Country 12.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 12.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 12.2.1. By Country 12.2.1.1. China 12.2.1.2. Japan 12.2.1.3. South Korea 12.2.2. By Product Type 12.2.3. By Grade 12.2.4. By Application 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product Type 12.3.3. By Grade 12.3.4. By Application 12.4. Key Takeaways 13. South Asia & Pacific Benzoates Market Analysis 2017-2021 and Forecast 2022-2032, By Country 13.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 13.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 13.2.1. By Country 13.2.1.1. India 13.2.1.2. Thailand 13.2.1.3. Indonesia 13.2.1.4. Malaysia 13.2.1.5. Singapore 13.2.1.6. Australia 13.2.1.7. New Zealand 13.2.1.8. Rest of South Asia & Pacific 13.2.2. By Product Type 13.2.3. By Grade 13.2.4. By Application 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product Type 13.3.3. By Grade 13.3.4. By Application 13.4. Key Takeaways 14. MEA Benzoates Market Analysis 2017-2021 and Forecast 2022-2032, By Country 14.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 14.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Product Type 14.2.3. By Grade 14.2.4. By Application 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Product Type 14.3.3. By Grade 14.3.4. By Application 14.4. Key Takeaways 15. Key Countries Benzoates Market Analysis 15.1. U.S. 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2021 15.1.2.1. By Product Type 15.1.2.2. By Grade 15.1.2.3. By Application 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2021 15.2.2.1. By Product Type 15.2.2.2. By Grade 15.2.2.3. By Application 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2021 15.3.2.1. By Product Type 15.3.2.2. By Grade 15.3.2.3. By Application 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2021 15.4.2.1. By Product Type 15.4.2.2. By Grade 15.4.2.3. By Application 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2021 15.5.2.1. By Product Type 15.5.2.2. By Grade 15.5.2.3. By Application 15.6. U.K. 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2021 15.6.2.1. By Product Type 15.6.2.2. By Grade 15.6.2.3. By Application 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2021 15.7.2.1. By Product Type 15.7.2.2. By Grade 15.7.2.3. By Application 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2021 15.8.2.1. By Product Type 15.8.2.2. By Grade 15.8.2.3. By Application 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2021 15.9.2.1. By Product Type 15.9.2.2. By Grade 15.9.2.3. By Application 15.10. China 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2021 15.10.2.1. By Product Type 15.10.2.2. By Grade 15.10.2.3. By Application 15.11. Japan 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2021 15.11.2.1. By Product Type 15.11.2.2. By Grade 15.11.2.3. By Application 15.12. South Korea 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2021 15.12.2.1. By Product Type 15.12.2.2. By Grade 15.12.2.3. By Application 15.13. India 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2021 15.13.2.1. By Product Type 15.13.2.2. By Grade 15.13.2.3. By Application 15.14. Thailand 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2021 15.14.2.1. By Product Type 15.14.2.2. By Grade 15.14.2.3. By Application 15.15. Indonesia 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2021 15.15.2.1. By Product Type 15.15.2.2. By Grade 15.15.2.3. By Application 15.16. Malaysia 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2021 15.16.2.1. By Product Type 15.16.2.2. By Grade 15.16.2.3. By Application 15.17. Singapore 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2021 15.17.2.1. By Product Type 15.17.2.2. By Grade 15.17.2.3. By Application 15.18. Australia 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2021 15.18.2.1. By Product Type 15.18.2.2. By Grade 15.18.2.3. By Application 15.19. New Zealand 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2021 15.19.2.1. By Product Type 15.19.2.2. By Grade 15.19.2.3. By Application 15.20. GCC Countries 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2021 15.20.2.1. By Product Type 15.20.2.2. By Grade 15.20.2.3. By Application 15.21. South Africa 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2021 15.21.2.1. By Product Type 15.21.2.2. By Grade 15.21.2.3. By Application 15.22. Israel 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2021 15.22.2.1. By Product Type 15.22.2.2. By Grade 15.22.2.3. By Application 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Product Type 16.3.3. By Grade 16.3.4. By Application 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Eastman Chemical Company 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. Emerald Performance Materials, LLC 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. Dr. Paul Lohmann 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. Velsicol Chemical LLC. 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. FBC Industries Inc. 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. Tengzhou Tenglong Chemical Co., Ltd. 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. Jarchem Industries Inc. 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. Tulstar Products, Inc. 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 17.1.9. Shandong Tong Tai Wei Run Chemical Co., Ltd 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.9.5.2. Product Strategy 17.1.9.5.3. Channel Strategy 17.1.10. Tianjin Dongda Chemical Group Co., Ltd 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.10.5.2. Product Strategy 17.1.10.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
Explore Chemicals & Materials Insights
View Reports
Benzoates Market
