Benzoic Acid Market - Databook 2025 to 2034

The global benzoic acid market size surpassed USD 1,341 million in 2024 and is predicted to reach around USD 2,167 million by 2034, registering a CAGR of 4.91% from 2025 to 2034.

Highlights of the Benzoic Acid Market

• By form, the powder segment held a dominant presence in the market in 2024.
• By form, the granules segment is expected to grow at the fastest rate in the market during the forecast period of 2025 to 2034.
• By application, the food and beverages segment accounted for a considerable share of the market in 2024.
• By application, the cosmetic segment is projected to experience the highest growth rate in the market between 2025 and 2034.
• Asia Pacific dominated the global market in 2024.
• North America is anticipated to grow at the fastest rate in the market during the forecast period.

Industry Valuation and Growth Rate Projection

The benzoic acid market is a generic term for the trading and manufacturing of organic compounds used in various areas such as food and beverages, pharmaceuticals, cosmetics, and chemicals. In plants, it's naturally occurring. There is widespread use of benzoic acid in antimicrobial formulations due to its ability to disrupt the pH balance inside pathogen cells. This allows it to be used as a preservative to increase the shelf life of a product, leading to various applications in personal hygiene products, cosmetics, as well as pharmaceuticals. The compound, on an industrial scale, is synthetically made by controlled oxidation and finds an important place in formulations of high-yield materials.

The growing demand for benzoic acid is primarily on account of the increasing consumer goods industries, particularly processed and packaged food that utilizes preservatives like benzoic acid to ensure safety, quality, and longevity. It gives certain benefits to the pharmaceutical and cosmetic industries from the antimicrobial properties of the compound and product stabilizer. The growing preference of the global population toward convenience-based consumption and functional products opens fresh avenues for the growth of benzoic acid, thereby making it one of those age-defining chemicals.

Benzoic Acid Market: Stats and Figures

• In April 2025, researchers at Dalian University of Technology tested the performance of benzyl alcohol and its products. Their work presents a facile synthesis approach for an amorphous/crystalline heterostructure with high electrocatalytic performance, holding great potential for paired electrosynthesis of value-added chemicals. The systematic studies reveal that the amorphous structure of NiCo2O4-x 25/NF generates abundant oxygen vacancies, promoting the rapid generation of active sites and intermediate species adsorption.
• In November 2024, scientists at Guangxi University of Science and Technology looked at the effect of benzoic acid concentration on the growth of strain GJ2008. Their findings represented that the time required to enter the rapid growth phase and stable phase markedly increased as the benzoic acid concentration increased to the range of 0.5–1.4 g/L. When the concentration of benzoic acid was greater than 1.6 g/L, the growth of GJ2008 was almost completely inhibited.

How AI Has Benefitted the Benzoic Acid Market?

The application of artificial intelligence in the benzoic acid market is leading to better management of the supply chain and an increase in production parameters, along with advances in material sciences.

• Production Efficiency Increased: Manufacturing parameters have been optimized through AI to increase yields, waste elimination, and performance of unnecessary tasks.
• Quality Control: In-process acceptance quality in the monitoring of abnormal or defective conditions in real time by combining predictive modeling and computer vision.
• Supply Chain Management: Demand prediction analysis on inventory and logistics will lead to a reduced lead time and stacking cost.
• Sustainability Benefit: AI is used to optimize resources and minimize waste generation from manufacturing, and promotes green chemistry further.

Industry Leader Announcements

• Pushp Jain, Deputy Managing Director, KLJ Group:

“We are thrilled to announce the commissioning of our Phthalic Anhydride plant in Bharuch. This state-of-the-art facility represents a significant milestone in our growth strategy and reinforces our position as a leading manufacturer of Plasticizers. The surplus production generated by this plant opens up new opportunities for us to serve a wider customer base and meet the increasing market demand.”

Geographical Insights

Asia-Pacific

The Asia-Pacific region dominated the global benzoic acid market under shifting consumer demands, developments in the frozen food trade, and the growth of the feed industry. Encouraging regulatory practices on benzoate plasticizers has opened fresh avenues for growth.

North America

North America is expected to grow at a significant CAGR, owing to the food and beverage industries and cosmetic products being in vogue. Changes in consumer demands and product formulations encourage the United States and Canada to take further part in this trend. The Middle East and Africa are destined to be high-growth regions on account of unchecked government initiatives, research and & Development, and wider applications of benzoic acid for other sectors such as feed additives and plasticizers.

Recent Developments in the Benzoic Acid Market:

• In August 2022, Brenntag expanded its distribution agreement with ISCA, a leading manufacturer and distributor of specialty chemicals for the cosmetics industry, for several European markets.
• In June 2023, KLJ Group invests Rs. 1,200 Cr in the Commissions Plasticizers & Phthalic Anhydride production facility, with an annual capacity of 300,000 MT of Phthalate Plasticizers, 100,000 MT of Phthalic Anhydride, 3,500 MT of Maleic Anhydride, and 700 MT of Benzoic Acid.

Competitive Landscape

The market is moderately fragmented with local players Avantor Inc., Merck KGaA, Spectrum Chemicals, FBC Industries, Inc., Tengzhou Tenglong Chemical Co., Ltd., Wuhan Youji Industries Co. Ltd., Ganesh Benzoplast Ltd., CellMark AB, A.M. Food Chemical Co. Limited, etc., wishing to take the time to edge their presence through investments, partnerships, acquisitions, and mergers. They also invest in product development and competitive pricing. These strategies will promote market growth and lucrative opportunities for market players

• Company Name: Avantor Inc.
• Year of Incorporation: 1904
• Headquarters: Radnor, Pennsylvania, USA

Avantor Inc. reported a total revenue of $6.685 billion for the twelve months ending March 31, 2025, a 2.64% decrease year-over-year.

• Company Name: Wuhan Youji Industries Co., Ltd.
• Year of Incorporation: 1946
• Headquarters: Wuhan, China

Wuhan Youji Holdings Ltd. (2881:HKG) reported a total revenue of approximately CNY 3,284.2 million for the year ended December 31, 2024.