Asia Pacific Benzoic Acid Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Food Preservatives, Corrosive Inhibitor, Alkyd Resins, Synthesis Intermediates, Plasticizers, Feed Additives, and Others)

The Asia Pacific benzoic acid market is expected to grow from US$ 528,082.57 thousand in 2021 to US$ 798,397.81 thousand by 2028; it is estimated to register a CAGR of 6.1% from 2021 to 2028.

Benzoic acid is one of the most important ingredients used in various cosmetic products due to its ability to preserve the product and normalize the pH value. Benzoic acid is present in several products, such as perfume, lip balm, lipstick, facial masks, mascara, eye shadow, and makeup remover. Further, there is a growth in the use of different cosmetic products among men and women. Moreover, cosmetic product manufacturers are focusing on strategies such as product branding, advertising, and new product launching to raise the sales of cosmetics products. Thus, the factors mentioned above are contributing to the strong growth of the cosmetics industry. Moreover, in India, improving socio-economic standards and large-scale development of digital & manufacturing sectors result in an increasing demand for cosmetic products. The cosmetics industry is growing faster, with more people living across APAC buying personal care and beauty products. Hence, the strong growth of the cosmetic industry in different countries of APAC will provide more opportunities for the benzoic acid market growth.

 Asia Pacific Benzoic Acid Market Revenue and Forecast to 2028 (US$ Thousand)

Asia Pacific Benzoic Acid Market Segmentation  
 

The Asia Pacific benzoic acid market is bifurcated into application and country. Based on application, the Asia Pacific benzoic acid market is segmented into food preservatives, corrosive inhibitor, alkyd resins, synthesis intermediates, plasticizers, feed additives, and others. The synthesis intermediates segment dominated the market in 2020. Based on country, the Asia Pacific benzoic acid market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. China dominated the market in 2020.

Eastman Chemical Company, Foodchem International Corporation, A.M Food CHEMICAL Co. Limited, OASIS FINE CHEM, Spectrum chemicals, LANXESS, MERCK KGaA, and Tiajin Dongda Chemical Groupe Co are among the leading companies operating in the Asia Pacific benzoic acid market.

1. Eastman Chemical Company.
2. Foodchem International Corporation.
3. A.M Food CHEMICAL Co. Limited.
4. OASIS FINE CHEM.
5. Spectrum chemicals.
6. LANXESS.
7. MERCK KGaA.
8. Tiajin Dongda Chemical Groupe Co.

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific Benzoic Acid market forecast.  
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific Benzoic Acid market forecast, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the benzoic acid market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.