[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
