Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Benzoic Acid Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Are the Expected Market Growth Rates for the Benzoic Acid Market?
The market size of benzoic acid has shown consistent growth. In 2024, the market was valued at $1.38 billion and it is projected to increase to $1.43 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 3.8%.
What Are the Expected Market Growth Trends for the Benzoic Acid Market Through 2029?
In 2029, the Benzoic Acid market is expected to reach a market size of $1.81 billion, growing at a compound annual growth rate (CAGR) of 6.1%.
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What Are the Key Business Drivers in the Benzoic Acid Market Landscape?
The key Drivers in the benzoic acid market are:
• Rising consumer demand for processed foods
• Widespread use of benzoic acid as a preservative in these foods
• Ability of benzoic acid to extend the shelf life of food items
• Ensuring quality and safety of food through prevention of bacterial, fungi, and yeast growth
How Is the Benzoic Acid Market Divided Across Key Categories?
The benzoic acidmarket covered in this report is segmented –
1) By Form: Powder, Granules
2) By Application: Sodium Benzoate, Potassium Benzoate, Benzyl Benzoate, Benzoate Plasticizers, Alkyd Resin, Benzoyl Chloride, Feed Additives, Other Applications
3) By End Use: Food And Beverages, Chemical Industry, Pharmaceutical Industry, Other End Uses
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What Are the Ongoing Trends in the Benzoic Acid Market?
The key trends in the benzoic acid market are:
• A clear trend is the focus on product innovation in the benzoic acid market.
• Companies are constantly launching novel benzoic acid products to sustain market position.
• There is an increasing trend of using benzoic acid in the formulation of disinfectants.
• Benzoic acid products are being developed with high effectiveness and environmental friendliness in mind.
Which Companies are Expanding in the Benzoic Acid Industry?
The key players in the benzoic acid market are:
• Emerald Kalama LLC
• IG Petrochemicals Ltd.
• Merck KGaA
• Chemcrux Enterprises Ltd.
• The Chemical Company
• Ganesh Benzoplast Ltd.
• Huayin Jinqiancheng Pharmaceutical Co Ltd.
• Wuhan Youji Industries Co Ltd.
• Tianjin Dongda Chemical Group Co Ltd.
• Lanxess AG
• Eastman Chemical Company
• Avantor Inc.
• Novaphene Specialities Pvt Ltd
• DuPont de Nemours Inc.
• Krishna Speciality Chemicals Pvt Ltd.
• Srihari Chemicals
• Nantong Haiers
• Huangshi Taihua Industry
• Yash Rasayan & Chemicals
• JQC (Huayin) Pharmaceutical
• Wuhan Dico Chemical
• Hubei Phoenix Chemical
• Changzhou Hubin Medicine
• Tengzhou Tenglong Chemical
• Remi Fine
• Hebei Smart Chemicals Company
• Liao Ning Huayi Chemical
• Zhejiang Shengxiao Chemicals Co. Ltd.
• Yasho Industries
• Wuhan Ruiji Chemical Co. Ltd.
Which is the Largest Region the Global Benzoic Acid Market?
North America was the largest region in the global benzoic acid market in 2024
