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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Benzoates Market size was valued at US$ 5,873.1 million in 2023 and is poised to grow at a CAGR of 6.4% from 2024-2030. Benzoates are the esters and salts of benzoic acid widely used for the preservation of food and as a pickling agent to extend the shelf life. Benzoates inhibit the growth of harmful bacteria, mold, and other microbes in food thus deterring spoilage. Growth in the use of benzoates in prescription medication, particularly in liquid medicines is driving the benzoate market.
According to research, sodium benzoate is used to treat elevated levels of ammonia in the blood. Moreover, based on end use, cosmetics, and personal care products are anticipated to show a significant growth rate in the market share over the forecasting period. Benzoates in skincare products are used to prevent the overgrowth of microorganisms that contaminate the product. Currently, the development of methods for alkyl benzoates synthesis, which are used as an aroma additive in the fragrance industry has increased the opportunities for the hike in the market.
However, the growing awareness of the use of synthetic food additives and their side effects is posing a challenge to the market. However, the increased consumer awareness, increased awareness, increased medicinal supplies and the growth of the packaged food business have heightened the overall growth of the market and are expected to surge in the forecasted years.
Study Period
2024-2030Base Year
2023CAGR
6.4%Largest Market
Asia PacificFastest Growing Market
Asia Pacific
The benzoates market is expected to grow over the forecasted period due to the increasing demand for food and beverage. It acts as a preservative and is most widely used in carbonated drinks, jams, juices, condiments, and frozen toppings. It prevents spoilage from harmful bacteria, yeasts, and molds. It also helps maintain the freshness of food by helping to slow or prevent changes in color, flavour, pH, and texture. Countries like US, China, and India are seeing tremendous increased demand for ready-to-eat foods as a result of changing lifestyles; thus, benzoates help extend the shelf life of foods and beverages. It is also allowed as an animal food additive by the Association of American Feed Control Officials.
According to a research, studies showed that it can be used to treat conditions such as depression, pain, schizophrenia, autism spectrum disorders and neurodegenerative disorders. Thus, the growth of the food industry increases the demand for food preservatives, thus creating a benzoate market.
Asia Pacific is the largest market for benzoates is expected to continue throughout the forecast period due to rapid growth in the region.
North America is expected to be the second-largest market by value during the forecast period. The region has emerged as a major consumer of benzoates due to increased demand from the food and beverage industry and increased living standards and incomes of the people. This demand can also be attributed to the use of cosmetics and personal care products in the region. The United States is one of the largest benzoate markets and is expected to account for a significant portion of total regional benzoate demand during the forecast period.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 5,873.1 million |
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Market CAGR |
6.4% |
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By Type |
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By Form |
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By End User |
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The benzoates market size was valued at US$ 5,873.1 million in 2023 and is projected to grow at a CAGR of 6.4% from 2024 to 2030.
The market key players are: Laxness Wuhan Youji Industries Co., Ltd Merck KGaA Tengzhou Tenglong Chemical Co., Ltd. Eastman Chemical Company M Food Chemical Co., Limited FBC Industries Ganesh Benzoplast Limited Tokyo Chemical Industry Co., Ltd. Tianjin Dongda Chemical Group Co., Ltd Taj Pharmaceuticals DuPont de Nemours (“DuPont”)
The market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
| 1. Executive Summary |
| 2. Global Benzoates Market Introduction |
| 2.1.Global Benzoates Market - Taxonomy |
| 2.2.Global Benzoates Market - Definitions |
| 2.2.1. Type |
| 2.2.2.Form |
| 2.2.3.End Users |
| 2.2.4.Region |
| 3. Global Benzoates Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID-19 on Market |
| 4. Global Benzoates Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Benzoates Market By Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Potassium Benzoate |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Sodium Benzoate |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Ammonium Benzoate |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Others |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6. Global Benzoates Market By Form, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Powder |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Granule |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Others |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7. Global Benzoates Market By End Users, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Food & Beverage |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Pharmaceutical |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Personal Care |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Fireworks |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Others |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8. Global Benzoates Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia Pacific (APAC) |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Middle East and Africa (MEA) |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Latin America |
| 8.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 9. North America Benzoates Market,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Potassium Benzoate |
| 9.1.2.Sodium Benzoate |
| 9.1.3.Ammonium Benzoate |
| 9.1.4.Others |
| 9.2. Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Powder |
| 9.2.2.Granule |
| 9.2.3.Others |
| 9.3. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Food & Beverage |
| 9.3.2.Pharmaceutical |
| 9.3.3.Personal Care |
| 9.3.4.Fireworks |
| 9.3.5.Others |
| 9.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.4.1.United States of America (USA) |
| 9.4.2.Canada |
| 10. Europe Benzoates Market,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Potassium Benzoate |
| 10.1.2.Sodium Benzoate |
| 10.1.3.Ammonium Benzoate |
| 10.1.4.Others |
| 10.2. Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Powder |
| 10.2.2.Granule |
| 10.2.3.Others |
| 10.3. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Food & Beverage |
| 10.3.2.Pharmaceutical |
| 10.3.3.Personal Care |
| 10.3.4.Fireworks |
| 10.3.5.Others |
| 10.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Germany |
| 10.4.2.France |
| 10.4.3.Italy |
| 10.4.4.United Kingdom (UK) |
| 10.4.5.Spain |
| 10.4.6.Rest of EU |
| 11. Asia Pacific (APAC) Benzoates Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Potassium Benzoate |
| 11.1.2.Sodium Benzoate |
| 11.1.3.Ammonium Benzoate |
| 11.1.4.Others |
| 11.2. Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Powder |
| 11.2.2.Granule |
| 11.2.3.Others |
| 11.3. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Food & Beverage |
| 11.3.2.Pharmaceutical |
| 11.3.3.Personal Care |
| 11.3.4.Fireworks |
| 11.3.5.Others |
| 11.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.China |
| 11.4.2.India |
| 11.4.3.Australia and New Zealand (ANZ) |
| 11.4.4.Japan |
| 11.4.5.Rest of APAC |
| 12.Middle East and Africa (MEA) Benzoates Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Potassium Benzoate |
| 12.1.2.Sodium Benzoate |
| 12.1.3.Ammonium Benzoate |
| 12.1.4.Others |
| 12.2. Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Powder |
| 12.2.2.Granule |
| 12.2.3.Others |
| 12.3. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Food & Beverage |
| 12.3.2.Pharmaceutical |
| 12.3.3.Personal Care |
| 12.3.4.Fireworks |
| 12.3.5.Others |
| 12.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.GCC Countries |
| 12.4.2.South Africa |
| 12.4.3.Rest of MEA |
| 13. Latin America Benzoates Market,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Potassium Benzoate |
| 13.1.2.Sodium Benzoate |
| 13.1.3.Ammonium Benzoate |
| 13.1.4.Others |
| 13.2. Form Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Powder |
| 13.2.2.Granule |
| 13.2.3.Others |
| 13.3. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Food & Beverage |
| 13.3.2.Pharmaceutical |
| 13.3.3.Personal Care |
| 13.3.4.Fireworks |
| 13.3.5.Others |
| 13.4. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Brazil |
| 13.4.2.Mexico |
| 13.4.3.Rest of LA |
| 14. Competition Landscape |
| 14.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 14.2.1.Laxness |
| 14.2.2.Wuhan Youji Industries Co., Ltd |
| 14.2.3.Merck KGaA |
| 14.2.4.Tengzhou Tenglong Chemical Co., Ltd. |
| 14.2.5.Eastman Chemical Company |
| 14.2.6.M Food Chemical Co., Limited |
| 14.2.7.FBC Industries |
| 14.2.8.Ganesh Benzoplast Limited |
| 14.2.9.Tokyo Chemical Industry Co., Ltd. |
| 14.2.10.Tianjin Dongda Chemical Group Co., Ltd |
| 14.2.11.Taj Pharmaceuticals |
| 14.2.12.DuPont de Nemours (“DuPont”) |
| 15. Research Methodology |
| 16. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.