Product ID: UCMIG15E2629
Benzoic Acid Market Size, Share, Growth Analysis, By Application(Sodium Benzoate, Potassium Benzoate), By End-Use(Chemical, Food & Beverage), By Region(North America, Europe) - Industry Forecast 2024-2031
Report ID:
UCMIG15E2629 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Benzoic Acid Market Insights
Market Overview:
Benzoic acid, an organic chemical within the carboxylic acids category, is both colorless and crystalline. In laboratory settings, the synthesis of benzoic acid involves oxidizing toluene at elevated temperatures, with cobalt and manganese salts serving as catalysts. It exhibits solubility in alcohols, acetone, carbon tetrachloride, benzene, and water, and possesses antimicrobial properties. Natural sources of benzoic acid encompass cinnamon, cloves, stone fruits, berries, mushrooms, radishes, onion, garlic, cashews, almonds, milk, and cheese. Its utilization spans various industries, including chemicals, pharmaceuticals, cosmetics, meat, and dairy products. Particularly, benzoic acid serves as a preservative in packaged and canned food items like jams, fruit juices, pickles, aerated drinks, and more, contributing to its market growth due to the increasing global demand for such preserved consumables. Notably, its addition for preservation does not compromise the taste or aroma of the food.
Benzoic Acid Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Specialty Chemicals by segment aggregation, the contribution of the Specialty Chemicals in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Benzoic Acid Market Report Snapshots
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