The Benzenecarboxylic Acid Market is to Touch $1.7 Billion by 2030; The increasing demand for benzenecarboxylic acid across various industries such as food & beverages, cosmetics & personal care and pharmaceutical industry propels market growth.

The Benzenecarboxylic Acid Market size is estimated to reach $1.7 Billion by 2030, growing at a CAGR of 5% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “Benzenecarboxylic Acid Market –By Application (Benzoates (Sodium Benzoate, Ethyl Benzoate, Glycol Benzoate, Methyl Benzoate, others), Acid Halides, Benzoyl Chloride, Benzamide, Benzoate plasticizer, Potassium Slat/Potassium Benzoate, Alkyd Resins, and Others), By End Use Industry (Food & Beverages (Baked Goods, Processed Food, Beverages, Others), Cosmetics & Personal Care (Skin Care Products, Hair Care Products, Oral Care Products, Others), Pharmaceutical Industry, and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030”

Increasing demand in the food & beverage industry and shift towards sustainable and bio-based products are fueling the growth of the Benzenecarboxylic Acid industry during the forecast period.

Asia-Pacific holds the largest share of 30% in 2023 of the Benzenecarboxylic Acid market. One of the primary drivers is the rapid industrialization and urbanization across major economies like China, India, and Southeast Asian countries. These regions have witnessed significant growth in sectors such as food and beverage, pharmaceuticals, and personal care, all of which are major consumers of benzoic acid. The booming food and beverage industry, driven by the increasing demand for packaged and processed foods, has fueled the need for effective preservatives like benzoic acid to ensure food safety and extend shelf life. Additionally, the pharmaceutical sector in the Asia-Pacific region is expanding due to rising healthcare expenditures, aging populations, and increased awareness of health and hygiene. This has created higher demand for pharmaceutical formulations that utilize benzoic acid for its antimicrobial properties. Furthermore, the growing personal care and cosmetic industries, particularly in countries like China and South Korea, have also contributed to the region’s dominance in the market.

Benzenecarboxylic acid, better known as benzoic acid, plays a crucial role as a food preservative, particularly in acidic food products such as pickles, sauces, juices, and carbonated beverages. Its efficacy in inhibiting the growth of mold, yeast, and some bacteria has made it indispensable in the food and beverage sector. The global rise in demand for convenience foods, driven by rapid urbanization and a shift in consumer lifestyles, is boosting the need for benzoic acid. Consumers today seek longer shelf life in processed foods without compromising on safety or quality. The food industry is also influenced by stringent regulations regarding food safety. The World Health Organization (WHO) Joint Expert Committee on Food Additives first set the acceptable daily intake (ADI) level for benzoic acid and sodium benzoate. It is concluded that it's safe to have benzoic acid in amounts of zero to 5 milligrams per kilogram (2.2 pounds) of body weight. And in 2021, the WHO increased the ADI of benzoic acid to between zero and 20 milligrams per kilogram (2.2 pounds) of body weight. In markets such as the EU and North America, food safety authorities require approved preservatives like benzoic acid to ensure extended shelf life without the risk of spoilage. This trend is expected to grow as the processed food market continues to expand, particularly in emerging economies such as China, India, and Brazil, where urbanization and income growth are driving higher consumption of packaged and processed food products. For instance, The Singapore Food Agency (SFA) said in March 2022 that it detected benzoic acid in kueh products manufactured by K & B Nonya Kueh Manufacture and Beng San Food Industry Supplier. Benzoic acid is not allowed in kueh products under the Singapore Food Regulations.

Environmental sustainability has become a key focus for industries worldwide, and the chemical sector is no exception. The benzoic acid market is seeing a notable shift towards bio-based production methods as companies work to reduce their environmental footprint. Conventional benzoic acid is derived from petrochemical sources, but increasing pressure from both consumers and regulatory bodies to adopt greener alternatives is driving innovation in this space. Bio-based benzoic acid, produced from renewable feedstocks, is gaining traction as a sustainable option, particularly in regions with stringent environmental regulations such as Europe and North America. Governments are also incentivizing the production and adoption of bio-based chemicals through tax breaks, subsidies, and eco-friendly certifications. This trend not only helps companies meet their sustainability targets but also addresses the growing consumer demand for eco-friendly products. The transition to bio-based benzoic acid will likely continue to accelerate, driven by the global shift toward circular economy models and the increasing cost of petrochemical raw materials.