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Report

Benzoic Acid Market Report and Forecast 2025-2034

Market Report I 2025-07-28 I 150 Pages I EMR Inc.

The global benzoic acid market size attained a value of approximately USD 1.21 Billion in 2024. The market is further expected to grow at a CAGR of around 5.50% in the forecast period of 2025-2034, reaching a value of around USD 2.07 Billion by 2034.

Global Benzoic Acid Market Overview

Benzoic acid is used as an inactive ingredient, antimicrobial preservative, antifungal agent, and as a lubricant for tablets and capsules. Hence, the thriving pharmaceutical sector, owing to the increasing burden of chronic infections and diseases, across the developing economic nations, is escalating the applications of benzoic acid. Meanwhile, use of cyclopentadithiophene-benzoic acid copolymers is also increasing, as a conductive binder in components of lithium-ion batteries. In this regard, the increasing demand for downstream lithium-ion battery products, such as toys, headphones, and power tools, among others, and growing affordability of middle-class population are the key trends contributing to market growth. Expansions of production capacities and research and development towards additional applications of benzoic acid are anticipated to drive the market growth in the coming years.

Asia Pacific to be a Significant Region in the Global Market for Benzoic Acid

The Asia Pacific region dominates the market for benzoic acid, owing to the widespread use of benzoic acid in numerous end-user industries. Due to a steady shift toward packaged goods and an increase in per-capita disposable income, benzoic acid intake has gradually increased in the past few years. China and India are the two largest contributors to the regional market for benzoic acid. Apart from the food and beverage industries, India and China have significant per capita plastic use, which has resulted in increased use of plasticisers, boosting the benzoic acid market.

Another factor propelling the market for benzoic acid in the Asia Pacific is the considerable increase in demand for sodium and potassium benzoate in the region. In Asian countries, such as India, the animal feed sector is maturing, which is driving up the demand for benzoic acid. The stringent regulations of governments in the region and increasing number of small-scale food and beverage outlets are also contributing to the market growth of benzoic acid.

Over the forecast period, North America is expected to witness steady growth rate in the market for benzoic acid. Due to strict regulations of governments in the region, the substitution of benzoate plasticisers for phthalate plasticisers is likely to favour growth in this field. The growing demand for phthalate plasticisers is also expected to fuel the growth of the regional market for benzoic acid in the coming years.

Food and Beverage Segment to Lead the Benzoic Acid Market Growth

By end use, the food and beverages segment accounts for a major share of the overall market for benzoic acid. Ongoing urbanisation and changing lifestyles of the masses are factors leading to the increased demand for packaged food items. Benzoic acid, mostly in the form of sodium benzoate and potassium benzoate, is directly used as a food preservative in the food and beverages sector. Thus, an increase in packaged food sales is leading to the growth of the market for benzoic acid across the globe.

Market Segmentation

Benzoic acid is a carboxylic acid having various beneficial properties, including antibacterial and antifungal properties, which has led to its widespread use in a variety of applications. Commercially, it is made by partially oxidising toluene with oxygen. Prunes, plums, raspberries, and cranberries are examples of fruits that contain benzoic acid, which is primarily used in the chemical, food and beverage, and pharmaceutical industries.

Breakup by Application

- Sodium Benzoate
- Benzyl Benzoate
- Alkyd Resin
- Benzoyl Chloride
- Potassium Benzoate
- Feed Additives
- Others

Breakup by End Use

- Chemical
- Food and Beverage
- Pharmaceuticals
- Others

Breakup by Region

- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa

Global Benzoic Acid Market Analysis

Increasing demand for packaged food and beverages is driving the demand for benzoic acid globally. Food preservation is necessary in order to increase the shelf life of packaged food products, which is further invigorating the market growth of benzoic acid, owing to the increasing preference of consumers towards food products with high shelf life. In addition, the rapid transition from phthalate plasticisers to benzoate plasticisers for different applications is likely to drive the demand for the benzoic acid market in the forecast period.

Rising population, higher income, and changing psychographics are heightening the consumption of benzoic acid. Meanwhile, benzoic acid also finds application in animal feed, dye intermediates, and the medical sector which is further expanding the growth opportunities for the market. Benzoic acid is used to treat fungal skin infections like athlete's foot, tinea, and ringworm. These factors are expected to contribute to the global expansion of the market for benzoic acid.

Additionally, benzoic acid is used in the manufacturing of cosmetics. Benzoic acid is found in toothpaste, deodorants, mouthwashes, and other products as an antimicrobial agent. In this regard, the escalating health consciousness among personal care product consumers is anticipated to heighten the sale of downstream benzoic acid products. Apart from these factors, the low price of benzoic acid low price and widespread availability are expected to boost the global market for benzoic acid in the coming years.

Key Players in the Global Benzoic Acid Market

The report gives a detailed analysis of the following key players in the global benzoic acid market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

- Chemcrux Enterprises Ltd

- FUSHIMI Pharmaceutical Co., Ltd.

- SINTEZA S.A.

- Shri Hari Chemicals India

- LANXESS AG

- JQC(Huayin) Pharmaceutical Co., Ltd.

- Eastman Chemical Company

- I G Petrochemicals Ltd. (IGPL)

- Merck KGaA

- Ganesh Benzoplast Limited

- Tianjin Dongda Chemical Group Co. Ltd.

- Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Opportunities and Challenges in the Market
8 Global Benzoic Acid Market Analysis
8.1 Key Industry Highlights
8.2 Global Benzoic Acid Historical Market (2018-2024)
8.3 Global Benzoic Acid Market Forecast (2025-2034)
8.4 Global Benzoic Acid Market by Application
8.4.1 Sodium Benzoate
8.4.1.1 Historical Trend (2018-2024)
8.4.1.2 Forecast Trend (2025-2034)
8.4.2 Benzyl Benzoate
8.4.2.1 Historical Trend (2018-2024)
8.4.2.2 Forecast Trend (2025-2034)
8.4.3 Alkyd Resin
8.4.3.1 Historical Trend (2018-2024)
8.4.3.2 Forecast Trend (2025-2034)
8.4.4 Benzoyl Chloride
8.4.4.1 Historical Trend (2018-2024)
8.4.4.2 Forecast Trend (2025-2034)
8.4.5 Potassium Benzoate
8.4.5.1 Historical Trend (2018-2024)
8.4.5.2 Forecast Trend (2025-2034)
8.4.6 Feed Additives
8.4.6.1 Historical Trend (2018-2024)
8.4.6.2 Forecast Trend (2025-2034)
8.4.7 Others
8.5 Global Benzoic Acid Market by End Use
8.5.1 Chemical
8.5.1.1 Historical Trend (2018-2024)
8.5.1.2 Forecast Trend (2025-2034)
8.5.2 Food and Beverage
8.5.2.1 Historical Trend (2018-2024)
8.5.2.2 Forecast Trend (2025-2034)
8.5.3 Pharmaceuticals
8.5.3.1 Historical Trend (2018-2024)
8.5.3.2 Forecast Trend (2025-2034)
8.5.4 Others
8.6 Global Benzoic Acid Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2024)
8.6.1.2 Forecast Trend (2025-2034)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2024)
8.6.2.2 Forecast Trend (2025-2034)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2024)
8.6.3.2 Forecast Trend (2025-2034)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2024)
8.6.4.2 Forecast Trend (2025-2034)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2024)
8.6.5.2 Forecast Trend (2025-2034)
9 North America Benzoic Acid Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2024)
9.1.2 Forecast Trend (2025-2034)
9.2 Canada
9.2.1 Historical Trend (2018-2024)
9.2.2 Forecast Trend (2025-2034)
10 Europe Benzoic Acid Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2024)
10.1.2 Forecast Trend (2025-2034)
10.2 Germany
10.2.1 Historical Trend (2018-2024)
10.2.2 Forecast Trend (2025-2034)
10.3 France
10.3.1 Historical Trend (2018-2024)
10.3.2 Forecast Trend (2025-2034)
10.4 Italy
10.4.1 Historical Trend (2018-2024)
10.4.2 Forecast Trend (2025-2034)
10.5 Others
11 Asia Pacific Benzoic Acid Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2024)
11.1.2 Forecast Trend (2025-2034)
11.2 Japan
11.2.1 Historical Trend (2018-2024)
11.2.2 Forecast Trend (2025-2034)
11.3 India
11.3.1 Historical Trend (2018-2024)
11.3.2 Forecast Trend (2025-2034)
11.4 ASEAN
11.4.1 Historical Trend (2018-2024)
11.4.2 Forecast Trend (2025-2034)
11.5 Australia
11.5.1 Historical Trend (2018-2024)
11.5.2 Forecast Trend (2025-2034)
11.6 Others
12 Latin America Benzoic Acid Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2024)
12.1.2 Forecast Trend (2025-2034)
12.2 Argentina
12.2.1 Historical Trend (2018-2024)
12.2.2 Forecast Trend (2025-2034)
12.3 Mexico
12.3.1 Historical Trend (2018-2024)
12.3.2 Forecast Trend (2025-2034)
12.4 Others
13 Middle East and Africa Benzoic Acid Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2024)
13.1.2 Forecast Trend (2025-2034)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2024)
13.2.2 Forecast Trend (2025-2034)
13.3 Nigeria
13.3.1 Historical Trend (2018-2024)
13.3.2 Forecast Trend (2025-2034)
13.4 South Africa
13.4.1 Historical Trend (2018-2024)
13.4.2 Forecast Trend (2025-2034)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code-291631)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Price Analysis
17.1 North America Historical Price Trends (2018-2024) and Forecast (2025-2034)
17.2 Europe Historical Price Trends (2018-2024) and Forecast (2025-2034)
17.3 Asia Pacific Historical Price Trends (2018-2024) and Forecast (2025-2034)
17.4 Latin America Historical Price Trends (2018-2024) and Forecast (2025-2034)
17.5 Middle East and Africa Historical Price Trends (2018-2024) and Forecast (2025-2034)
18 Competitive Landscape
18.1 Supplier Selection
18.2 Key Global Players
18.3 Key Regional Players
18.4 Key Player Strategies
18.5 Company Profiles
18.5.1 Chemcrux Enterprises Ltd
18.5.1.1 Company Overview
18.5.1.2 Product Portfolio
18.5.1.3 Demographic Reach and Achievements
18.5.1.4 Certifications
18.5.2 FUSHIMI Pharmaceutical Co., Ltd.
18.5.2.1 Company Overview
18.5.2.2 Product Portfolio
18.5.2.3 Demographic Reach and Achievements
18.5.2.4 Certifications
18.5.3 SINTEZA S.A.
18.5.3.1 Company Overview
18.5.3.2 Product Portfolio
18.5.3.3 Demographic Reach and Achievements
18.5.3.4 Certifications
18.5.4 Shri Hari Chemicals India
18.5.4.1 Company Overview
18.5.4.2 Product Portfolio
18.5.4.3 Demographic Reach and Achievements
18.5.4.4 Certifications
18.5.5 LANXESS AG
18.5.5.1 Company Overview
18.5.5.2 Product Portfolio
18.5.5.3 Demographic Reach and Achievements
18.5.5.4 Certifications
18.5.6 JQC(Huayin) Pharmaceutical Co.,Ltd.
18.5.6.1 Company Overview
18.5.6.2 Product Portfolio
18.5.6.3 Demographic Reach and Achievements
18.5.6.4 Certifications
18.5.7 Eastman Chemical Company
18.5.7.1 Company Overview
18.5.7.2 Product Portfolio
18.5.7.3 Demographic Reach and Achievements
18.5.7.4 Certifications
18.5.8 I G Petrochemicals Ltd. (IGPL)
18.5.8.1 Company Overview
18.5.8.2 Product Portfolio
18.5.8.3 Demographic Reach and Achievements
18.5.8.4 Certifications
18.5.9 Merck KGaA
18.5.9.1 Company Overview
18.5.9.2 Product Portfolio
18.5.9.3 Demographic Reach and Achievements
18.5.9.4 Certifications
18.5.10 Ganesh Benzoplast Limited
18.5.10.1 Company Overview
18.5.10.2 Product Portfolio
18.5.10.3 Demographic Reach and Achievements
18.5.10.4 Certifications
18.5.11 Tianjin Dongda Chemical Group Co. Ltd.
18.5.11.1 Company Overview
18.5.11.2 Product Portfolio
18.5.11.3 Demographic Reach and Achievements
18.5.11.4 Certifications
18.5.12 Others

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