Global Benzoic Acid Market Report By Application (Preservatives, Sodium & Potassium Benzoate, Benzoyl Chloride, Benzoate Plasticizers, Alkyd Resins, Animal Feed) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2020-2027

ID:VMR11210005
April 2021
Report Formats:

The Growing demand for food preservation to enhance the shelf life of the packaged food is likely to fuel the market growth. The market is also expected to witness significant growth during the forecast period owing to its growing widespread applications in the production of sodium and potassium benzoate, Benzoyl Chloride and other derivatives. Also, growing usage of benzoic acid across other application such as adhesives, PVC, urethane resins, as high functional plasticizers is again boosting the market growth.

According to the Value Market Research, the Benzoic Acid Market is estimated to reach USD 1,450.4 MN by 2024 (by revenue) with a CAGR of 4.8%. In terms of volume, the market was estimated at XX.X KT in 2017 and is expected to reach XX.X KT by 2024 with a CAGR of X.X%.
 
RISING DEMAND FROM THE FOOD INDUSTRY HAS EMERGED AS THE LARGEST APPLICATION AREA
Potassium benzoate and Sodium benzoate are salt of benzoic acid and have extensive application in food preservation to improve product safety, maintain product quality and to extend product shelf-life. They are expected to bring nearly 682.63 USD MN by 2024. Sodium benzoate is also used as a preservative in cosmetics and medicines. The growing demand from the food industry is the major driving factor for the benzoate industry. Other industries that include pharmaceutical and cosmetic industries are also expected to boost demand for benzoates in the market. Moreover, rising applications of synthetic preservatives in poultry and meat is another key factor contributing towards the positive market growth.
 
ASIA-PACIFIC IS RULING THE GLOBAL BENZOIC ACID MARKET
Asia Pacific dominates the benzoic acid market and is expected to maintain its dominance over the forecast period. The growth of the benzoic acid market in this region is primarily driven by an increase in per-capita disposable income levels along with shifting trend towards processed and packaged foods and ready-to-drink beverages particularly in countries like China and India. This has boosted the need for packaged food and beverage products. This benefit the regional market since benzoic acid acts as a preservative by inhibiting the growth of food pathogens. The rise in phenol production coupled with growth in end-use industries such as food & beverages, personal care, and pharmaceuticals is anticipated to drive the market growth during the forecast period.
 
PROMINENT PLAYERS
Emerald Kalama, Hubei Phoenix, Fushimi, Nantong Haiers, Huayin Jin Qian Cheng, San Fu, and Wuhan Youji Industries

As per this study, the global Benzoic Acid market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2027 with a CAGR of XX%. By volume, the market was estimated at XX KT in 2021 and is expected to reach XX KT by 2027 with a CAGR of XX%.
 
Benzoic acid is a naturally occurring as well as synthetically produced substance. It is the simplest member of the aromatic carboxylic acid family which comprises antifungal and antiseptic properties. Benzoic acid and its derivates such as salts, alkyl esters, benzyl alcohol, benzaldehyde, and benzoyl peroxide, are commonly used as antibacterial and antifungal preservatives and as flavoring agents in food, cosmetic, hygiene, and pharmaceutical products.
 
Market Dynamics
 
Benzoic acid and its salts are essential preservatives in the food and beverage industry. Growing demand for food preservation to enhance the shelf life of the packaged food is likely to fuel the market growth. The market is expected to witness significant growth during the forecast period owing to its widespread applications in the production of sodium and potassium benzoate, Benzoyl Chloride and other derivatives. On the other hand, fluctuating prices of raw material may hamper the market growth.
 
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of benzoic acid.
 
Market Segmentation
 
The broad benzoic acid market has been sub-grouped into application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.

By Application
  • Preservatives
  • Sodium & Potassium Benzoate
  • Benzoyl Chloride
  • Benzoate Plasticizers
  • Alkyd Resins
  • Animal Feed
  • Others (Including Medicinal, Etc.)
 
Regional Analysis
 
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for benzoic acid in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
 
Global Benzoic Acid Market Share by Region (Representative Graph)
 
Global Benzoic Acid Market Share
 
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the benzoic acid market includes Emerald Kalama, Fushimi, Huayin Jin Qian Cheng, Hubei Phoenix, Nantong Haiers, San Fu, and Wuhan Youji Industries. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
 
METHODOLOGY:
 
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand. 

1 . PREFACE
       1.1. Report Description
           1.1.1. Objective
           1.1.2. Target Audience
           1.1.3. Unique Selling Proposition (USP) & offerings
       1.2. Research Scope
       1.3. Research Methodology
           1.3.1. Market Research Process
           1.3.2. Market Research Methodology
 
2 . EXECUTIVE SUMMARY
       2.1. Highlights of Market
       2.2. Global Market Snapshot
 
3 . BENZOIC ACID – INDUSTRY ANALYSIS
       3.1. Introduction - Market Dynamics
       3.2. Market Drivers
       3.3. Market Restraints
       3.4. Opportunities
       3.5. Industry Trends
       3.6. Porter’s Five Force Analysis
       3.7. Market Attractiveness Analysis
           3.7.1 By Application
           3.7.2 By Region
 
4 . VALUE CHAIN ANALYSIS
       4.1. Value Chain Analysis
       4.2. Raw Material Analysis
           4.2.1. List of Raw Materials
           4.2.2. Raw Material Manufactures List
           4.2.3. Price Trend of Key Raw Materials
       4.3. List of Potential Buyers
       4.4. Marketing Channel
           4.4.1. Direct Marketing
           4.4.2. Indirect Marketing
           4.4.3. Marketing Channel Development Trend
 
5 . IMPACT ANALYSIS OF COVID-19 OUTBREAK
       5.1. Impact Analysis of Covid-19 Outbreak
           5.1.1. Direct Impact on Production
           5.1.2. Supply Chain and Market Disruption
           5.1.3. Financial Impact on Firms and Financial Markets
       5.2. COVID-19 Impact Analysis by Production, Import, Export and Demand
       5.3. Market: Pre V/S Post COVID-19
       5.4. Estimated Impact of the Coronavirus (COVID-19) Epidemic
       5.5. COVID-19: Micro and Macro Factor Analysis
 
6 . GLOBAL BENZOIC ACID MARKET ANALYSIS BY APPLICATION
       6.1 Overview by Application
       6.2 Historical and Forecast Data
       6.3 Analysis by Application
       6.4 Preservatives Market by Regions
       6.5 Sodium & Potassium Benzoate Market by Regions
       6.6 Benzoyl Chloride Market by Regions
       6.7 Benzoate Plasticizers Market by Regions
       6.8 Alkyd Resins Market by Regions
       6.9 Animal Feed Market by Regions
       6.10. Others Market by Regions
 
7 . GLOBAL BENZOIC ACID MARKET ANALYSIS BY GEOGRAPHY
       7.1. Regional Outlook
       7.2. Introduction
       7.3. North America
           7.3.1. Overview, Historic and Forecast Data
           7.3.2. North America By Segment
           7.3.3. North America By Country
           7.3.4. United State
           7.3.5. Canada
           7.3.6. Mexico
       7.4. Europe
           7.4.1. Overview, Historic and Forecast Data
           7.4.2. Europe by Segment
           7.4.3. Europe by Country
           7.4.4. United Kingdom
           7.4.5. France
           7.4.6. Germany
           7.4.7. Italy
           7.4.8. Russia
           7.4.9. Rest Of Europe
       7.5. Asia Pacific
           7.5.1. Overview, Historic and Forecast Data
           7.5.2. Asia Pacific by Segment
           7.5.3. Asia Pacific by Country
           7.5.4. China
           7.5.5. India
           7.5.6. Japan
           7.5.7. South Korea
           7.5.8. Australia
           7.5.9. Rest Of Asia Pacific
       7.6. Latin America
           7.6.1. Overview, Historic and Forecast Data
           7.6.2. Latin America by Segment
           7.6.3. Latin America by Country
           7.6.4. Brazil
           7.6.5. Argentina
           7.6.6. Peru
           7.6.7. Chile
           7.6.8. Rest of Latin America
       7.7. Middle East & Africa
           7.7.1. Overview, Historic and Forecast Data
           7.7.2. Middle East & Africa by Segment
           7.7.3. Middle East & Africa by Country
           7.7.4. Saudi Arabia
           7.7.5. UAE
           7.7.6. Israel
           7.7.7. South Africa
           7.7.8. Rest Of Middle East And Africa
 
8 . COMPETITIVE LANDSCAPE OF THE BENZOIC ACID COMPANIES
       8.1. Benzoic Acid Market Competition
       8.2. Partnership/Collaboration/Agreement
       8.3. Merger And Acquisitions
       8.4. New Product Launch
       8.5. Other Developments
 
9 . COMPANY PROFILES OF BENZOIC ACID INDUSTRY
       9.1. Company Share Analysis
       9.2. Market Concentration Rate
       9.3. Emerald Kalama
           9.3.1. Company Overview
           9.3.2. Financials
           9.3.3. Products
           9.3.4. Recent Developments
       9.4. Fushimi
           9.4.1. Company Overview
           9.4.2. Financials
           9.4.3. Products
           9.4.4. Recent Developments
       9.5. Huayin Jin Qian Cheng
           9.5.1. Company Overview
           9.5.2. Financials
           9.5.3. Products
           9.5.4. Recent Developments
       9.6. Hubei Phoenix
           9.6.1. Company Overview
           9.6.2. Financials
           9.6.3. Products
           9.6.4. Recent Developments
       9.7. Nantong Haiers
           9.7.1. Company Overview
           9.7.2. Financials
           9.7.3. Products
           9.7.4. Recent Developments
       9.8. San Fu
           9.8.1. Company Overview
           9.8.2. Financials
           9.8.3. Products
           9.8.4. Recent Developments
       9.9. Wuhan Youji Industries
           9.9.1. Company Overview
           9.9.2. Financials
           9.9.3. Products
           9.9.4. Recent Developments
 
 *Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies
 
LIST OF TABLES

  • Market Snapshot
  • Drivers : Impact Analysis
  • Restraints : Impact Analysis
  • List of Raw Material
  • List of Raw Material Manufactures
  • List of Potential Buyers
  • COVID-19 Impact Analysis by Production, Import, Export and Demand
  • Pre V/S Post COVID-19
  • Estimated Impact Of The Coronavirus (Covid-19) Epidemic
  • COVID-19: Micro and Macro Factor Analysis
  • Analysis by Application (Kilo Tons and USD MN)
  • Preservatives Market by Geography (Kilo Tons and USD MN)
  • Sodium & Potassium Benzoate Market by Geography (Kilo Tons and USD MN)
  • Benzoyl Chloride Market by Geography (Kilo Tons and USD MN)
  • Benzoate Plasticizers Market by Geography (Kilo Tons and USD MN)
  • Alkyd Resins Market by Geography (Kilo Tons and USD MN)
  • Animal Feed Market by Geography (Kilo Tons and USD MN)
  • Others Market by Geography (Kilo Tons and USD MN)
  • Global Benzoic Acid Market by Geography (Kilo Tons and USD MN)
  • North America Market Analysis (Kilo Tons and USD MN)
  • United State Market Analysis (Kilo Tons and USD MN)
  • Canada Market Analysis (Kilo Tons and USD MN)
  • Mexico Market Analysis (Kilo Tons and USD MN)
  • Europe Market Analysis (Kilo Tons and USD MN)
  • Europe Market Estimate by Country (Kilo Tons and USD MN)
  • United Kingdom Market Analysis (Kilo Tons and USD MN)
  • France Market Analysis (Kilo Tons and USD MN)
  • Germany Market Analysis (Kilo Tons and USD MN)
  • Italy Market Analysis (Kilo Tons and USD MN)
  • Russia Market Analysis (Kilo Tons and USD MN)
  • Spain Market Analysis (Kilo Tons and USD MN)
  • Rest of Europe Market Analysis (Kilo Tons and USD MN)
  • Asia Pacific Market Analysis (Kilo Tons and USD MN)
  • China Market Analysis (Kilo Tons and USD MN)
  • Japan Market Analysis (Kilo Tons and USD MN)
  • India Market Analysis (Kilo Tons and USD MN)
  • South Korea Market Analysis (Kilo Tons and USD MN)
  • Australia Market Analysis (Kilo Tons and USD MN)
  • Rest of Asia Pacific Market Analysis (Kilo Tons and USD MN)
  • Latin America Market Analysis (Kilo Tons and USD MN)
  • Brazil Market Analysis (Kilo Tons and USD MN)
  • Argentina Market Analysis (Kilo Tons and USD MN)
  • Peru Market Analysis (Kilo Tons and USD MN)
  • Chile Market Analysis (Kilo Tons and USD MN)
  • Rest of Latin America Market Analysis (Kilo Tons and USD MN)
  • Middle East & Africa Market Analysis (Kilo Tons and USD MN)
  • Saudi Arabia Market Analysis (Kilo Tons and USD MN)
  • UAE Market Analysis (Kilo Tons and USD MN)
  • Israel Market Analysis (Kilo Tons and USD MN)
  • South Africa Market Analysis (Kilo Tons and USD MN)
  • Rest of Middle East and Africa Market Analysis (Kilo Tons and USD MN)
  • Partnership/Collaboration/Agreement
  • Mergers And Acquisiton
 
LIST OF FIGURES
 
  • Research Scope of Benzoic Acid Report
  • Market Research Process
  • Market Research Methodology
  • Global Benzoic Acid Market Size, by Region (Kilo Tons and USD MN)
  • Porters Five Forces Analysis
  • Market Attractiveness Analysis by Application
  • Market Attractiveness Analysis by Region
  • Value Chain Analysis
  • Global Market Segment Analysis (Kilo Tons and USD MN)
  • Preservatives Market by Geography (Kilo Tons and USD MN)
  • Sodium & Potassium Benzoate Market by Geography (Kilo Tons and USD MN)
  • Benzoyl Chloride Market by Geography (Kilo Tons and USD MN)
  • Benzoate Plasticizers Market by Geography (Kilo Tons and USD MN)
  • Alkyd Resins Market by Geography (Kilo Tons and USD MN)
  • Animal Feed Market by Geography (Kilo Tons and USD MN)
  • Others Market by Geography (Kilo Tons and USD MN)
  • Global Market by Revenue
  • North America Market by Revenue
  • Europe Market by Revenue
  • Asia Pacific Market by Revenue
  • Latin America Market by Revenue
  • Middle East & Africa Market by Revenue
  • Recent Development in Industry
  • Company Market Share Analysis, 2020
 
* Kindly note that the above listed are the basic tables and figures of the report and are not limited to the TOC.

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  • Analyze competitive developments

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