Benzoic acid is commonly used as an antimicrobial preservative in beverages, such as carbonated beverages. Further, sodium benzoate is a widely used preservative in soft drinks. Moreover, there is a shift in consumer preferences toward the adoption of convenience food and ready-to-drink beverages in Europe, thereby boosting the demand for benzoic acid. Thus, the robust growth in the food & beverages industry and the growing demand for preservatives to enhance the shelf life of multiple food products support the high demand for benzoic acid. Hence, the growing demand for benzoic acid from the food & beverages industry is driving the Europe benzoic acid market growth.
The Europe benzoic acid market is bifurcated into application and country. Based on application, the Europe 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 Europe benzoic acid market is segmented into Germany, France, Italy, the UK, Russia, Turkey, and the Rest of Europe. The UK 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, Tiajin Dongda Chemical Groupe Co., and Sinteza are among the leading companies operating in the Europe benzoic acid market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 289,242.53 thousand |
| Market Size by 2028 | US$ 396,464.02 thousand |
| CAGR (2021 - 2028) | 4.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Application
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Benzoic Acid Market is valued at US$ 289,242.53 thousand in 2021, it is projected to reach US$ 396,464.02 thousand by 2028.
As per our report Europe Benzoic Acid Market, the market size is valued at US$ 289,242.53 thousand in 2021, projecting it to reach US$ 396,464.02 thousand by 2028. This translates to a CAGR of approximately 4.6% during the forecast period.
The Europe Benzoic Acid Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Benzoic Acid Market report:
The Europe Benzoic Acid Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Benzoic Acid Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Benzoic Acid Market value chain can benefit from the information contained in a comprehensive market report.
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