Benzoic Acid Industry , Share, Production, Consumption, Revenue, and Growth By 2030
Benzoic Acid Market Scope The Benzoic Acid Market is expected to grow USD 902.3 million CAGR 5% during the forecast 2021–2030. The Benzoic Acid Market has gained huge attention over the past few years due to the surging demand from the food and beverage industry. Benzoic acid and its potassium, sodium, and calcium salts are in high demand among the public as a preservative in foods owing to their effective antifungal property. It is effective against bacteria. The surging demand for packaged and preserved foods is predicted to spark the demand for natural preservatives such as benzoic acid. The soaring demand for beverages such as fruit juices, soft drinks, and others can spur the market demand of benzoic acid during the assessment period. The use of benzoic acid in the preparation of phenols and benzoyl chloride will remain a key factor responsible for market growth. Competitive Outlook Navyug Pharmachem (P) Ltd., Eastman Chemical Company, Hemadri Chemicals, GFS Chemicals Inc., Cho