Dublin, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The "Global Benzoates Market by Type (Potassium Benzoate, Sodium Benzoate, Ammonium Benzoate), End-Use (Food & Beverage, Pharmaceutical, Personal Care), and Region (North America, Europe, Asia Pacific, Rest of the World) - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global benzoates market is projected to grow from USD 429 million in 2022 to USD 540 million by 2027, at a CAGR of 4.7% during the forecast period. Growing demand for benzoates is witnessed due to its usage in diversified applications, such as pickles, beverages, jams, jellies, cosmetic products, animal feed, cough syrups, and others.
Sodium benzoate, by type was the largest segment in 2021
Sodium benzoate is generated by reacting benzoic acid with sodium hydroxide. Sodium benzoate has major use in food & beverages. Also, it is used in other industries such as home care, personal care, and pharmaceutical. Moreover, sodium benzoate is used as a preservative in medicine, lotions, mouthwash, and water-based paint. Thus, such uses of sodium benzoate in various end-use industries are propelling demand.
Food & beverage, by end-use was the largest segment in 2021
Benzoates are used as preservatives for food & drinks. Benzoates that are majorly used in food & beverages are sodium and potassium. Growing demand for processed food as a result of increasing population and changing lifestyle is driving the growth of benzoates in food & beverage segment.
Asia Pacific region was the largest segment in 2021
China accounted for the largest market share in the region. The growing industrial activities and change in consumer's lifestyle have resulted in the rising demand for household and consumer products in the country. In addition, the rise of upper-middle-class population and affluent households and the rise in the consumption of various packaged food products are contributing to the high demand for flavors & fragrances in the country. This creates demand for benzoates in the flavor & fragrance industry.
| Report Attribute | Details |
| No. of Pages | 132 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $429 Million |
| Forecasted Market Value (USD) by 2027 | $540 Million |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Significant Opportunities for Players in Benzoates Market
4.2 Benzoates Market, by Type
4.3 Benzoates Market, by Major Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth in Demand for Personal Care and Home Care Products
5.2.1.2 High Demand from Non-Alcoholic, Sugar-Free Products
5.2.2 Restraints
5.2.2.1 Regulations to Limit Use of Benzoates in Packaged Food Items & Beverages
5.2.3 Opportunities
5.2.3.1 Use of Benzoates in Animal Nutrition
5.2.3.2 Use of Benzoates in Industrial Applications
5.2.4 Challenges
5.2.4.1 Increase in Use of Natural Preservatives in Food & Beverages
5.3 Value Chain Analysis
5.4 Ecosystem
5.5 Porter's Five Forces Analysis
5.6 Patent Analysis
5.6.1 Introduction
5.6.2 Methodology
5.6.3 Document Type
5.6.4 Insights
5.6.5 Jurisdiction Analysis
5.6.6 Top Companies/Applicants
5.7 Policies and Regulations
5.8 Case Study Analysis
5.8.1 Sodium Benzoate-Infused Dendrimer Antiscalant
5.9 Trade Data
5.10 Pricing Analysis
6 Manufacturing Process
6.1 Introduction
6.2 Sodium Benzoate
6.3 Potassium Benzoate
6.4 Ammonium Benzoate
7 Benzoates Market, by Type
7.1 Introduction
7.2 Potassium Benzoate
7.2.1 High Demand from Food & Beverages Sector to Drive Demand
7.3 Sodium Benzoate
7.3.1 Sodium Benzoate Mostly Used as Antimicrobial Preservative in Food & Beverages
7.4 Ammonium Benzoate
7.4.1 Ammonium Benzoate Commonly Used for Its Corrosion Inhibitor Property
7.5 Others
8 Benzoates Market, by End-Use
8.1 Introduction
8.2 Food & Beverage
8.2.1 Antimicrobial Property of Benzoates to Fuel Demand
8.3 Pharmaceutical
8.3.1 Benzoates Used as Preservatives in Pharmaceutical Products
8.4 Personal Care
8.4.1 Sodium Benzoate Used as Fragrance Ingredient in Cosmetics
8.5 Others
9 Benzoates Market, by Region
10 Competitive Landscape
10.1 Strategies of Key Players
10.2 Revenue Analysis
10.3 Market Share Analysis, 2021
10.3.1 Lanxess
10.3.2 Wuhan Youji Industries Co., Ltd.
10.3.3 Tianjin Dongda Chemical Group Co., Ltd.
10.3.4 Eastman Chemical Company
10.3.5 Competitive Benchmarking
10.4 Company Evaluation Matrix
10.4.1 Stars
10.4.2 Emerging Leaders
10.4.3 Pervasive Companies
10.4.4 Participants
10.5 Competitive Scenario
11 Company Profiles
11.1 Lanxess
11.2 Wuhan Youji Industries Co., Ltd.
11.3 Tianjin Dongda Chemical Group Co., Ltd.
11.4 Tengzhou Tenglong Chemical Co., Ltd.
11.5 Eastman Chemical Company
11.6 A.M Food Chemical Co., Limited
11.7 Vertellus
11.8 Spectrum Chemical
11.9 Tengzhou Aolong Chemical Co., Ltd.
11.1 Macco Organiques Inc.
11.11 Fbc Industries
11.12 Shandong Tongtaiweirun Food Science Tech Co., Ltd.
11.13 Shandong Ruiheng Biotechnology Co., Ltd.
11.14 Rishi Chemical
11.15 Tokyo Chemical Industry Co., Ltd.
11.16 Ing. Petr Svec - Penta S.R.O.
11.17 Ganesh Benzoplast Limited
11.18 Foodchem International Corporation
11.19 American Elements
12 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/8nm7jr
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