This study of the market provides an overview of the existing market trends, drivers, restrictions, and metrics and also offers a viewpoint for important segments. The report also tracks product and services demand growth forecasts for the industry. The report mentions growth parameters in the regional markets along with major players dominating the regional growth.
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The report offers detailed profile and data information analysis of the leading companies in the Benzoic Acid Market:
- Emerald Performance Materials
- I G Petrochemicals Ltd.
- Merck KGaA
- Chemcrux Enterprises Ltd.
- The Chemical Company
- Hemadri Chemicals
- Premier Group of Industries
- Reliance Industries Limited
- Indian Oil Corporation Ltd.
The key drivers of the Benzoic Acid Market are as follows:
The ability of benzoic acid to restrain the growth of bacteria, yeast, and fungi is one of the major factors fuelling the demand for benzoic acid in several industries, including cosmetics, food & beverages, chemicals, pharmaceuticals, and other industries. Increasing demand for benzoic acid in the food and beverage industry is surging the growth of the benzoic acid market in the upcoming years. Benzoic acid and its compound with potassium, sodium, chlorine, and calcium are broadly used as food preservatives. The increasing use of preservatives in food & beverage products, including fruit products, cheese, baked goods, and frozen dairy products, is surging the demand for benzoic acid. The rising demand for beverages, including sparkling drinks, soft drinks, and packaged fruit juices and the use of preservatives to enhance the shelf life of these beverages is one of the factors bolstering the growth of the global benzoic acid market in the upcoming years.
The increasing cosmetic and personal care industry is propelling the demand for benzoic acid products worldwide. Benzoic acid is one of the ideal components used in the manufacturing of facial powders, facial cleansers, mouthwashes, dyes, perfumes, and lipsticks due to its anti-fungal nature. Benzoic acid is also an essential ingredient for pharmaceutical products, including ointments, creams, and lotions. This factor is projected to boost the market growth of benzoic acid. On the other hand, the stringent regulation associated with the usage of preservatives, including benzoic acid, will hinder the global benzoic acid market.
The study objectives of this report are:
- To study and forecast the size of the market.
- To analyze the key players, SWOT analysis, value, and market share for the leading players.
- To define, describe, and forecast the market by different segments.
- To analyze the market potential and advantage, opportunity and challenge, restraints and risks.
Segmentation of the Benzoic Acid Market:
Breakup by Application:
- Benzoate Plasticizers
- Alkyd Resins
- Benzoyl Chloride
- Animal Feed Additive
Breakup by End-Use Industry:
- Food & Beverages
Breakup by Region:
- North America
o United States of America
- Asia Pacific
o Rest of APAC
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
o Rest of the world (remaining countries of the LAMEA region)
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