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Benzoic Acid Market worth 1,313.5 Million USD by 2023 The report "Benzoic Acid Market by Application (Benzoates, Benzoate Plasticizers, Alkyd Resins, Benzoyl Chloride, Animal Feed Additive), End-Use Industry (Food & Beverages, Chemical, Pharmaceutical), and Region Global Forecast to 2023" The global benzoic acid market is projected to grow from USD 1,009.9 Million in 2018 to USD 1,313.5 Million by 2023, at a CAGR of 5.4% from 2018 to 2023. The growth of the benzoic acid market is driven by the rising demand for benzoic acid from the food & beverages industry; the ongoing urbanization and changing consumer lifestyle, particularly in the Asia Pacific region; and the increasing demand for processed food & beverages.

Browse 113 market data Tables and 25 Figures spread through 137 Pages and in-depth TOC on "Benzoic Acid Market by Application (Benzoates, Benzoate Plasticizers, Alkyd Resins, Benzoyl Chloride, Animal Feed Additive), End-Use Industry (Food & Beverages, Chemical, Pharmaceutical), and Region - Global Forecast to 2023" https://www.marketsandmarkets.com/Market-Reports/benzoic-acid-market-89927653.html Early buyers will receive 10% customization on this report. The benzoates segment is estimated to account for the largest share of the benzoic acid market, by application for the forecast period. Based on application, the benzoates segment which includes sodium benzoate and potassium benzoate is estimated to account for the largest share of the benzoic acid market in 2018. The growth of this segment of the market can be attributed to increased use of benzoates in processed food items in emerging economies. The pharmaceutical segment is estimated to be the fastest-growing end-use industry segment of the benzoic acid market during the forecast period. Based on end-use industry, the pharmaceutical segment is expected to grow at the highest rate, due to the growing demand from emerging economies of the Asia Pacific and South American regions. Benzoic acid is very effective in the prevention of bacterial infection. It is used as an antimicrobial preservative, an antifungal agent, and as a tablet & capsule lubricant.

Asia Pacific is expected to hold the largest share of the benzoic acid market during the forecast period. China is the largest market for benzoic acid in the Asia Pacific region. The growth in power and chemical industries is projected to be the key driving factor for the benzoic acid in the Asia Pacific region. The growing consumption of frozen food items in China is also leading to the growth of the benzoic acid market in the country. Increased demand for


phthalate-free plasticizers from the country is another factor driving the consumption of benzoic acid in China. China is the largest consumer of non-phthalate plasticizers in the Asia Pacific region Key players in the benzoic acid market include Emerald Performance Materials (US), Wuhan Youji Industries Co. (China), Tianjin Dongda Chemical Group (China), and Liao Ning Huayi Chemical Industry & Commerce Co. (China), among others. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact: Mr. Rohan MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com

Benzoic acid market 2023  

Benzoic Acid Market by Application (Benzoates, Benzoate Plasticizers, Alkyd Resins, Benzoyl Chloride, Animal Feed Additive), End-Use Industr...

Benzoic acid market 2023  

Benzoic Acid Market by Application (Benzoates, Benzoate Plasticizers, Alkyd Resins, Benzoyl Chloride, Animal Feed Additive), End-Use Industr...

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