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, 2017-2024
ID:VMR11210005
April 2018
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 1,031.8 MN (by revenue) in 2017 and is anticipated to reach USD 1,450.4 MN by 2024 with a CAGR of 4.8%. By 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%.
 
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.
 
Objectives of the Study:

  • Define and measure the global benzoic acid market
  • Volume and revenue forecast of the global benzoic acid market and its various sub-segments with respect to main geographies
  • Analyze and identify major market trends along with the factors driving or inhibiting the market growth
  • Study the company profiles of the major market players with their market share
  • Analyze competitive developments
 
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 Market Share 2017
 
Benzoic Acid Market By Application
 
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.
 
Europe Benzoic Acid Market By Revenue (USD MN)
 
Europe Benzoic Acid Market By Revenue
 
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.
 
Major Company Players Market Share
 
Major Players of Benzoic Acid Market
 
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. INTRODUCTION

  • Introduction To Benzoic Acid
  • Report Description
    • Objectives Of The Study
    • Assumptions
  • Research Scope
  • Research Methodology
    • Data Source
 
2. EXECUTIVE SUMMARY
  • Market Highlight
  • Global Benzoic Acid Market: Snapshot
 
3. MARKET ANALYSIS
  • Drivers
  • Restraints
  • Opportunities
  • Porter’s Five Forces Analysis
  • Value Chain Analysis
 
4. BENZOIC ACID MARKET ANALYSIS BY APPLICATION
  • Market In Preservatives
  • Market In Sodium & Potassium Benzoate
  • Market In Benzoyl Chloride
  • Market In Benzoate Plasticizers
  • Market In Alkyd Resins
  • Market In Animal Feed
  • Market In Others (Including Medicinal, Etc.)
 
5. BENZOIC ACID MARKET ANALYSIS BY GEOGRAPHY
  • North America (NA)
    • North America Market Estimates
    • North America Market Estimates By Country
    • United States (U.S.) Market Estimates By Segments
    • Canada Market Estimates By Segments
    • Mexico Market Estimates By Segments
  • Europe (EU)
    • Europe Market Estimates
    • Europe Market Estimates By Country
    • United Kingdom (UK) Market Estimates By Segments
    • Germany Market Estimates By Segments
    • France Market Estimates By Segments
    • Rest Of Europe Market Estimates By Segments
  • Asia Pacific (APAC)
    • Asia Pacific Market Estimates
    • Asia Pacific Market Estimates By Country  
    • China Market Estimates By Segments
    • Japan Market Estimates By Segments
    • India Market Estimates By Segments
    • Rest Of Asia Pacific Market Estimates By Segments  
  • Latin America (LA)   
    • Latin America Market Estimates
    • Latin America Market Estimates By Country
    • Brazil Market Estimates By Segments
    • Rest Of Latin America Market Estimates By Segments
  • Middle East And Africa (MEA)   
    • Middle East And Africa Market Estimates
    • Middle East And Africa Market Estimates By Country
    • Middle East Market Estimates By Segments
    • Africa Market Estimates By Segments
 
6. COMPETITIVE LANDSCAPE OF THE BENZOIC ACID COMPANIES
  • Market Competition
  • Partnerships/Collaborations/Agreements
  • Mergers And Acquisitions
  • New Product Launches
  • Other Developments
 
7. COMPANY PROFILES OF THE BENZOIC ACID INDUSTRY (Company Overview, Financial, Major Products & Recent Development)
  • Emerald Kalama
  • Fushimi
  • Huayin Jin Qian Cheng
  • Hubei Phoenix
  • Nantong Haiers
  • San Fu
  • Wuhan Youji Industries
 
* Tentative TOC
 
LIST OF TABLES
 
Table 1.  Market Highlights Of Benzoic Acid
Table 2.  Global Benzoic Acid Market By Application
Table 3.  Global Benzoic Acid Market By Geography
Table 4.  North America Benzoic Acid Market
Table 5.  Europe Benzoic Acid Market
Table 6.  Asia Pacific Benzoic Acid Market
Table 7.  Latin America Benzoic Acid Market
Table 8.  Middle East And Africa Benzoic Acid Market 
Table 9.  Partnership/Collaboration/Agreements
Table 10. Mergers And Acquisitions
Table 11. New Product Development
Table 12. Other Developments
  
LIST OF FIGURES
 
Fig. 1.     Market Segmentation Of Benzoic Acid Market 
Fig. 2.     Top-Down Approach   
Fig. 3.     Bottom-Up Approach   
Fig. 4.     Market Highlights Of Benzoic Acid
Fig. 5.     Value Chain Analysis
Fig. 6.     Porter’s Five Forces Analysis
Fig. 7.     Global Benzoic Acid Market By Application
Fig. 8.     Global Benzoic Acid Market By Geography
Fig. 9.     North America Benzoic Acid Market
Fig. 10.   Europe Benzoic Acid Market
Fig. 11.   Asia Pacific Benzoic Acid Market
Fig. 12.   Latin America Benzoic Acid Market
Fig. 13.   Middle East And Africa Benzoic Acid Market
Fig. 14.   Market Share Of Benzoic Acid Companies
Fig. 15.   Recent Developments In Benzoic Acid Industry
 
 
* 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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