Benzoic Acid Market is segmented by application process, types of products, the end-user industry, and geography
Benzoic Acid Market Research
Report - Forecast to 2023
Benzoic Acid Market Overview
Market Research Future (MRFR) has announced a new release on the global benzoic acid
market. The report predicts the global benzoic acid market to exhibit a sturdy 5.92% CAGR over
the forecast period (2018-2023), rising from a value of USD 868 million in 2017 to USD 1,219
million by the end of the forecast period in 2023.
Benzoic acid is a carboxylic acid with the chemical formula C6H5COOH. It has various
functional properties, including antifungal and antibacterial properties, which have made it
popular in a number of end-use industries. It is naturally found in a number of fruits, including
plums, prunes, cranberries, and raspberries, and is primarily used in the food and beverage,
chemical, and pharmaceutical industry.
The growing use of benzoic acid in personal care products and cosmetics is likely to be a major
driver for the global benzoic acid market over the forecast period. Benzoic acid and salicylic acid
are often used in conjunction to counter the threat of fungus, as they both have excellent
antifungal properties. The increasing demand for well-crafted and effective personal care
products, especially in developing economies round the world, is likely to be a major driver for
the global benzoic acid market over the coming years.
Growing demand from the food and beverage industry is likely to be a major driver for the
global benzoic acid market. Benzoic acid and its sodium, potassium, or calcium salts are used as
a food preservative due to their effective antifungal property. The growing demand for preserved
and packaged food from the global consumer demographic is likely to drive the demand for
effective natural preservatives such as benzoic acid.
Plasticizers derived from benzoic acid, i.e. benzoate plasticizers, are also likely to be a major
fruitful channel for the key players in the global benzoic acid market. While phthalates are
widely used as plasticizers at present, the envir