Benzoates Market Size, Share, Opportunities, And Trends By Type (Sodium, Potassium, Calcium, Benzyl), By Grade (Food Grade, Pharmaceutical Grade, Industrial Grade, Technical Grade), By Application (Food & Beverages, Pharma, Personal Care & Cosmetics, Industrial, Others), And By Geography - Forecasts From 2024 To 2029

The benzoates market is projected to grow considerably during the forecast period

The rise in demand from the food sector primarily drives the benzoate industry. The demand for benzoates is projected to rise globally due to the growth of other industries like cosmetics and pharmaceuticals. Moreover, market expansion is also anticipated to be driven by food safety, longer food shelf life, rising living standards, especially in emerging nations, and ongoing urbanization. Additionally, benzoate is a preservative in the food industry for products like squashes, crushes, fruit jellies, coffee extracts, and tomato and other sauces. Pharmaceuticals and cosmetics both use sodium benzoate as a preservative. It is a powdered fuel that makes a whistling sound and is used in fireworks.

Increasing demand for personal and home care products

Benzoate is an element in a broad variety of cosmetics and personal care goods, including eye makeup, hair, nail, and skincare items, infant products, soaps and detergents, bath products, and cleansing products. Cosmetics and hair care products are required to contain preservatives to stop bacteria from growing. Europe, together with the US, has one of the biggest markets in the world for cosmetics, Benzoates are employed in addition to preservatives as unpleasant additions. Home care products, such as window cleaners, antiseptics, and laundry detergent, have a minor quantity of benzoate to discourage oral ingestion. Thus, the market for benzoates is being driven by the rising demand for personal care and home care products.

Use of benzoates in animal nutrition

The negative effects of traditional feed additives on animal growth and health have led to a need for safe and efficient feed additives that guarantee animal well-being while also accelerating animal growth. It has been found that benzoate works well in animal feed and prevents diarrhoea in animal breeding. Adding benzoate to the diets of sick animals can also significantly increase appetite and increase productivity. Hence, the market will grow as a result of the use of benzoates in animal nutrition.

Growing Preference for Clean Label Ingredients:

The market for sodium benzoate has been impacted by consumers' growing preference for clean-label products. Preservatives and other ingredients on clean labels are those that are thought to be natural and devoid of artificial additives. In response to this trend, manufacturers are looking into alternative natural preservatives or providing sodium benzoate derived from natural sources.

Growing Need for Food Preservation

The need to increase the shelf life of food products is driving up demand for sodium benzoate as a food preservative. Sodium benzoate is used more often because of the growing urbanization and shifting lifestyles of consumers, which increases the demand for processed and convenience foods that need to be preserved effectively.

Pharmaceutical Applications for Sodium Benzoate:

Sodium benzoate is used as a preservative in oral drugs, syrups, and topical formulations. The demand for sodium benzoate in pharmaceutical applications is rising due to the expansion of the pharmaceutical industry and the need for safe and efficient preservation.

Technological Developments in Production Methods:

The quality and purity of sodium benzoate have increased as a result of improvements in manufacturing techniques and technology. By reducing impurities and producing high-quality sodium benzoate, new methods like filtration, crystallization, and purification have increased the product's market potential.

Asia Pacific is projected to grow at a high rate during the forecast period

Due to the region's rapid urbanization, Asia Pacific was the largest market for benzoates, and this trend is anticipated to continue throughout the forecast period The rising demand is due to the increasing disposable income and standard of living. It is frequently used in naturally acidic foods like fruit juices, jams, salad dressings, and fizzy drinks. The populations of China and India are undergoing significant dietary shifts, which is driving up demand for packaged foods in these countries.  The use of dangerous preservatives in food products is tolerated by the governments of some nations, but not of China or India.

Market key launches

• In September 2023, the US FDA approved Actimed Therapeutics Ltd.'s IND application for two Phase 2b/3 clinical studies of S-pindolol benzoate: one for treating cachexia associated with colorectal cancer (IMPACT CRC) and another for treating patients with non-small cell lung cancer (IMPACT NSCLC). Actimed Therapeutics Ltd. is a UK-based clinical-stage speciality pharmaceutical company focused on bringing innovation to the treatment of cancer cachexia and other muscle wasting disorders. It has long been known that up to 20% of cancer-related deaths are caused by cachexia, a secondary illness to cancer.
• In September 2021, Benzoic acid and sodium benzoate production capacity at Eastman Chemical Company's Kingsport, Tennessee facility was expanded, according to the company, a major player in the sodium benzoate market. The goal of the expansion is to satisfy the rising demand for these goods, especially from the food and beverage sector.
• In June 2021, Lingyi, a new product mix based on tetrachlorantraniliprole + abamectin benzoate SC that is targeted specifically at the Jiangsu market, was launched by Sinochem International Crop Care Company during a press conference. Tetrachlorantraniliprole (10%) and emamectin benzoate (3%), its active ingredients, are combined to produce a strong synergistic effect and a high co-toxicity coefficient due to their complementary advantages.

Segmentation:

• By Type
  • Sodium
  • Potassium
  • Calcium
  • Benzyl
• By Grade
  • Food Grade
  • Pharmaceutical Grade
  • Industrial Grade
  • Technical Grade
• By Application
  • Food & Beverages
  • Pharma
  • Personal Care & Cosmetics
  • Industrial
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Taiwan
    • Others

1.  INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Data

2.3. Validation

3. EXECUTIVE SUMMARY

3.1. Key Findings

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. BENZOATES MARKET BY TYPE

5.1. Introduction

5.2. Sodium

5.3. Potassium

5.4. Calcium

5.5. Benzyl

6. BENZOATES MARKET BY GRADE

6.1. Introduction

6.2. Food Grade

6.3. Pharmaceutical Grade

6.4. Industrial Grade

6.5. Technical Grade

7. BENZOATES MARKET BY APPLICATION

7.1. Introduction

7.2. Food & Beverages

7.3. Pharma

7.4. Personal Care & Cosmetics

7.5. Industrial

7.6. Others 

8. BENZOATES MARKET BY GEOGRAPHY

8.1. Introduction 

8.2. North America

8.2.1. USA

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1. Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. Germany

8.4.2. France

8.4.3. United Kingdom

8.4.4. Spain

8.4.5. Others

8.5. Middle East And Africa

8.5.1. Saudi Arabia

8.5.2. UAE

8.5.3. Israel

8.5.4. Others

8.6. Asia Pacific

8.6.1. China

8.6.2. Japan

8.6.3. India

8.6.4. South Korea

8.6.5. Indonesia

8.6.6. Taiwan

8.6.7. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisition, Agreements, and Collaborations

10. COMPANY PROFILES

10.1. Keshariya Corporation

10.2. Rishi Chemicals

10.3. Triangulum Chemicals

10.4. LANXESS

10.5. Tengzhou Tenglong Chemical Co., Ltd. 

10.6. Eastman Chemical Company 

10.7. A.M Food Chemical Co., Limited 

10.8. FBC Industries 

10.9. Ganesh Benzoplast Limited 

Keshariya Corporation

Rishi Chemicals

Triangulum Chemicals

LANXESS

Tengzhou Tenglong Chemical Co., Ltd.

Eastman Chemical Company

A.M Food Chemical Co., Limited

FBC Industries

 

Ganesh Benzoplast Limited