Benzoic Acid Market 2023 Share and Ongoing Trends, Size, Growth Rate, Recent Key Players
The benzoic acid market has experienced significant growth in recent years, driven by its diverse applications across various industries. Benzoic acid is a white crystalline solid that is widely used as a precursor in the production of numerous chemicals, pharmaceuticals, and food additives. The market for benzoic acid is influenced by factors such as increasing demand for preservatives, growth in the food and beverage industry, and expanding applications in pharmaceuticals. One of the key drivers for the benzoic acid market is the rising demand for preservatives in the food and beverage industry. Benzoic acid and its salts, such as sodium benzoate, are commonly used as preservatives to prevent the growth of microorganisms and extend the shelf life of food and beverages. The increasing consumer preference for processed and packaged food products has propelled the demand for benzoic acid as a preservative. Key Companies in the Benzoic Acid market includes Ganesh Benzoplast Limited (I