USD 1.12 billion
Report ID:
SQMIG15E2650 |
Region:
Global |
Published Date: February, 2025
Pages:
191
|Tables:
73
|Figures:
70
Benzoic Acid Market size was valued at USD 1.12 billion in 2023 and is poised to grow from USD 1.17 billion in 2024 to USD 1.71 billion by 2032, growing at a CAGR of 4.8% during the forecast period (2025-2032).
The rising global demand for packaged and processed foods is one of the primary growth drivers of the benzoic acid market. As lifestyles continue to get more hectic, the need for ready-to-eat, long-shelf-life food has risen dramatically, and so has the utilization of benzoic acid preservatives to make foods safe and quality-friendly.
The global benzoic acid market has been experiencing consistent growth owing to its extensive industrial applications, especially food preservation, drugs, and chemicals. Benzoic acid, a carboxylic organic acid, finds extensive application as a food and beverage preservative to prevent bacterial, yeast, and fungal growth. The growing demand for packaged and processed food has promoted the use of sodium benzoate, a benzoic acid-based preservative. Benzoic acid also finds important applications in the pharmaceutical sector, where it is utilized for the manufacture of drugs to cure fungal diseases and skin ailments. The chemical industry also heavily depends on benzoic acid to produce alkyd resins, which find applications in coatings, adhesives, and plasticizers.
One of the prevalent market trends is the rising demand for eco-friendly and bio-based benzoic acid with rising environmental issues. The global food industry trend of moving towards nature-based preservatives has promoted producers to manufacture benzoic acid from natural raw materials. Also, the growing need for phthalate-free plasticizers in the polymer market is driving the consumption of benzoic acid since it is a major raw material used to manufacture non-phthalate plasticizers like benzoate esters. The growing cosmetics and personal care sector also drive the market since benzoic acid is used extensively in formulations of skincare and haircare products owing to its antimicrobial and antifungal nature.
Another key market trend is the increasing investment in research and development to enhance the efficiency and safety of benzoic acid applications. Manufacturers are actively searching for new production technologies and cutting-edge purification processes to produce high-quality products that meet rigorous regulatory requirements. In addition, increasing interest in benzoic acid derivatives, including benzyl benzoate and potassium benzoate, is generating new possibilities in the pharmaceutical and industrial industries. There is increased demand for benzoic acid from the agriculture segment as it is being considered for application in crop protection chemicals. Also, the continued growth of the polymer sector, especially in developing economies, is likely to generate steady demand for benzoic acid as a raw material.
In August 2021, LANXESS AG, a German specialty chemicals corporation, finalized the acquisition of Emerald Kalama Chemical, a top U.S.-based company that deals in benzoic acid and its derivatives. The strategic acquisition is anticipated to enhance LANXESS's footprint in the global preservatives market, especially in food, household, cosmetics, and personal care markets. The takeover increases LANXESS's portfolio of products, its manufacturing capabilities, and its prospects for sustained growth. In the next 4-5 years, this growth will fuel market competitiveness and innovation to meet the growing demand for safe, high-quality preservatives globally across industries.
In July 2021, Eastman Chemical Company made an announcement of cooperation with Adven Oy to increase the production plant for benzoic acid in Estonia. This is a move geared towards the adoption of cutting-edge energy solutions for expanding the manufacturing capacity and international distribution of benzoic acid and its derivatives. The project aims to satisfy growing demand for benzoic acid in food, beverage, and industrial markets, especially in Europe, North America, and Asia. The growth over the coming years will assist in enhancing supply chain reliability, contributing to sustainability objectives, and providing a secure supply of premium-quality benzoic acid for industries.
In August 2023, Sinteza S.A. initiated a project for the use of thermal energy from waste by-products produced in the process of manufacturing benzoic acid. The project targets the production of steam for re-use in manufacturing processes, thereby boosting energy efficiency and sustainability. By implementing this green strategy, Sinteza seeks to lower operating costs and minimize the environmental footprint. Throughout the next ten years, this shift is likely to create a new standard for sustainable practices within the benzoic acid market. As businesses prioritize sustainability more, this effort could incentivize others within worldwide manufacturing, creating a leaner, cleaner marketplace.
Brenntag, the world's leading chemical and ingredient distributor, in August 2022, signed a strategic alliance with ISCA, a specialty chemicals producer. This is aimed at distributing preservatives such as benzoic acid derivatives for the cosmetics segment throughout Europe. Through the combination of Brenntag's extensive distribution network and ISCA's preservative expertise, the partnership will address the increasing demand for high-quality, sustainable cosmetic ingredients. In the next decade, this partnership is likely to propel tremendous growth in the benzoic acid market, especially in the cosmetics industry, as the demand for safe and efficient preservatives continues to grow.
Market snapshot - 2025-2032
Global Market Size
USD 1.12 billion
Largest Segment
Adhesives & Sealant
Fastest Growth
Benzoates
Growth Rate
4.8% CAGR
To get more reports on the above market click here to Buy The Report
Global Benzoic Acid Market is segmented by Form, Application, End-Use Industry and region. Based on Form, the market is segmented into Powder and Granules. Based on Application, the market is segmented into Adhesives & Sealant, Polymer, Polyurethane, Plastics, Vinyl, Rubber, Benzoates, Benzoate Plasticizers, Benzoyl Chloride, Animal Feed Additive and Others. Based on End-Use Industry, the market is segmented into Food & Beverages, Oil & Gas Industry, Paints & Coatings Industry, Automotive Industry, Pharmaceutical Industry and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Application
As per categorization by application, the market is classified as adhesives & sealant, polymer (polyurethane, plastics, vinyl, rubber), benzoates, benzoate plasticizers, benzoyl chloride, animal feed additive, and others. Among these, adhesives & sealant earned the largest share and continues to hold the dominant global benzoic acid market share. Innovations in the adhesives and sealants sector are driving the demand for benzoic acid, primarily as a key raw material in the production of benzoate plasticizers and alkyd resins. These developments increase flexibility, strength, and environmental acceptability, thus making benzoic acid-based adhesives in great demand in construction, automotive, and packaging sectors. The industry leads the market with its wide applications, increased demand for environmentally friendly formulations, and greater dependence on high-performance bonding solutions in numerous industries worldwide.
The application of benzoates is expected to be the fastest-growing segment in the global benzoic acid market due to their widespread use as preservatives in food, beverages, and personal care products. As worldwide demand for packaged and processed food keeps going up, so too is the demand for reliable preservatives such as benzoates to achieve extended shelf life and ensure quality product. Furthermore, benzoates are also employed in medicines, cosmetics, and industry, fuelling increased expansion. Cost-saving, anti-microbial functions, and being well accepted by regulations place benzoates among a top priority selection, hence in line for exponential growth in all sectors but most so in emerging economies.
Analysis by End-Use Industry
The food and beverages industry are a major driver of innovation and growth in the global benzoic acid market, primarily due to its role as an effective preservative. New developments are directed toward enhancing benzoic acid's effectiveness in shelf-life extension, preventing microbial growth, and ensuring product quality without reducing taste. Its applications in soft drinks, sauces, jams, and processed foods remain on the increase, boosted by growing consumer pressure for convenience and longer product duration. The superiority of this industry to the market can be attributed to the affordability, regulatory approval, and the key role benzoic acid plays in maintaining food stability and safety, thus becoming a necessity within this industry.
The pharmaceutical industry is poised to be the fastest-growing end-use segment in the global benzoic acid market due to the increasing demand for benzoic acid derivatives in the production of various medications and topical treatments. In the synthesis of active pharmaceutical ingredients (APIs of benzoic acid), and as agents for the relief of life-threatening infections, the acido serves as the pharmacological building block. As the global healthcare market expands and incidences of skin disorders increase, benzoic acid demand is increasing in the formulation of drugs. Its low toxicity, economical price, and multipurpose properties render it an ideal option, with high-speed growth in the market for this segment.
To get detailed analysis on other segments, Request For Free Sample Report
Asia Pacific leads the global benzoic acid market through accelerated industrialization, growing food and beverage industries, and enhanced pharmaceutical demand. The region enjoys low-cost production, high food processing consumption, and rising demand for preservatives. Strong manufacturing capabilities and growing markets also contribute to its leadership.
China’s dominance in the Asia Pacific market is driven by its robust chemical manufacturing sector, large-scale production capabilities, and significant demand for benzoic acid in various industries, including food preservation, pharmaceuticals, and plastics. The country’s economic growth and extensive industrial base make it a key player in the global market.
North America is the most rapidly growing in the global benzoic acid market, fueled by sophisticated pharmaceutical and food industries, strict regulations guaranteeing product quality, and growing consumer demand for processed foods and preservatives. The region's emphasis on innovation, combined with robust industrial infrastructure, facilitates quick market growth.
The United States dominates the North American market from its superior pharmaceutical and food processing industries, where benzoic acid is utilized on a large scale for preservation and as raw material in producing major chemicals. High demand for quality and safe products in these sectors drives the growth of the country's market.
Europe is the most important player in the global benzoic acid market due to its established pharmaceuticals, food and beverages, and chemical industries. Stringent regulation policies for product quality and food safety in Europe drive demand for benzoic acid as a food preservative. As concern grows for environmentally friendly and sustainable manufacturing, Europe is also moving to develop innovative techniques for benzoic acid manufacturing, pushing market growth. Robust industrial infrastructure, combined with growing consumer demand for processed foods, is the basis for Europe's leadership in the market.
Middle East and Africa (MEA) is experiencing constant growth in the global benzoic acid market due to growing demand for processed food, beverages, and medicines. Industrialization in nations such as Saudi Arabia and the UAE, together with the expanding manufacturing industries, enhances the demand for chemicals and preservatives such as benzoic acid. Moreover, the emphasis on enhancing food safety and medical care standards in the region is lending momentum to greater consumption, making MEA a promising region in the global benzoic acid market outlook.
Moderate growth is being witnessed in South America in the global benzoic acid market, fueled by growing food and beverage industries and pharmaceutical demand. Brazil and Argentina are witnessing growth in processed food consumption where benzoic acid is extensively used as a preservative. The expanding manufacturing abilities in the region and growing awareness of food safety standards also add to the demand for benzoic acid. For more information on this topic, click here. Though still emerging, South America has huge market growth potential.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Benzoic Acid Market Drivers
Rising Demand for Processed Food
Industry’s Dependence on Benzoic Acid for Formulations
Benzoic Acid Market Restraints
Regulatory Restrictions on Benzoic Acid
Consumer Shift Towards Natural Products
Request Free Customization of this report to help us to meet your business objectives.
The global benzoic acid market is competitive with many major players concentrating on developing production capacity and improving product portfolios. Major market players are BASF SE, Eastman Chemical Company, Sinopec Limited, and Huntsman Corporation. These players focus on innovation in the application of benzoic acid in food preservation, pharmaceuticals, and chemicals. Strategic alliances, mergers, and investments in eco-friendly production activities are the primary strategies to continue market leadership and satisfy increasing demand in the different end-use sectors worldwide.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the global benzoic acid industry is steadily growing with increased demand for processed foods and beverages, where it is used as a preservative of key importance. It finds application across many industries, including chemicals and pharmaceuticals, where benzoic acid maintains food safety, quality, and shelf life. Market trends are being shaped by the trend toward environment-friendly, bio-based preservatives, where producers are looking for sustainable production practices.
Increased demand for benzoic acid derivatives and their applications in crop protection further supports market growth. Research and development expenditure is improving the efficiency and safety of benzoic acid in various applications. Demand is strong at the regional level, especially in Asia Pacific and North America, with strong growth anticipated in the pharmaceutical industry, driving the market ahead despite regulatory issues and consumers' demand for natural products.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 1.12 billion |
Market size value in 2032 | USD 1.71 billion |
Growth Rate | 4.8% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Benzoic Acid Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Benzoic Acid Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Benzoic Acid Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Benzoic Acid Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
REQUEST FOR SAMPLE
Global Benzoic Acid Market size was valued at USD 1.12 Billion in 2023 poised to grow from USD 1.17 Billion in 2024 to USD 1.71 Billion by 2032, growing at a CAGR of 4.86% in the forecast period (2025-2032).
The global benzoic acid market is competitive with many major players concentrating on developing production capacity and improving product portfolios. Major market players are BASF SE, Eastman Chemical Company, Sinopec Limited, and Huntsman Corporation. These players focus on innovation in the application of benzoic acid in food preservation, pharmaceuticals, and chemicals. Strategic alliances, mergers, and investments in eco-friendly production activities are the primary strategies to continue market leadership and satisfy increasing demand in the different end-use sectors worldwide. 'BASF SE (Germany)', 'Eastman Chemical Company (USA)', 'Sinopec Limited (China)', 'Huntsman Corporation (USA)', 'Merck Group (Germany)', 'LANXESS AG (Germany)', 'TCI Chemicals (Japan)', 'Jiangsu Zhongtian Chemical Co. (China)', 'Solvay S.A. (Belgium)', 'Hunan Nonferrous Chenzhou Zinc and Electricity Co., Ltd. (China)', 'Sadara Chemical Company (Saudi Arabia)', 'Yunnan Tin Company Limited (China)', 'Wego Chemical Group (USA)', 'Jubilant Life Sciences (India)', 'PetroChina Company Limited (China)'
The growing demand for processed and packaged foods is a key driver for the global benzoic acid market growth. With changing consumer demand towards more convenient foods of longer shelf lives, the requirement for good preservatives such as benzoic acid grows. The fact that it stops microbial growth makes it an irreplaceable necessity in food quality and safety.
Rising Demand for Eco-friendly Preservatives in the F&B Industry: The international food and beverage market is moving towards natural and clean-label products, which is generating growing demand for eco-friendly preservatives. Benzoic acid, with its antimicrobial properties and ability to extend shelf life, is emerging as a choice in this market. With consumers demanding safer and more sustainable products, food companies are using benzoic acid to ensure regulatory compliance while ensuring product quality, which is adding to its increasing use in the market.
Asia Pacific leads the global benzoic acid market through accelerated industrialization, growing food and beverage industries, and enhanced pharmaceutical demand. The region enjoys low-cost production, high food processing consumption, and rising demand for preservatives. Strong manufacturing capabilities and growing markets also contribute to its leadership.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Feedback From Our Clients
Report ID: SQMIG15E2650
[email protected]
USA +1 351-333-4748