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Benzoates Market Trends

Report ID: GMI6475
Published Date: Aug 2023
Report Format: PDF

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Benzoates Market Trends

Consumers are increasingly seeking natural and clean-label food products with minimal synthetic additives. This trend has driven food manufacturers to explore natural preservatives, potentially impacting the demand for synthetic preservatives like benzoates. The rising popularity of functional foods and beverages with added health benefits has led to the incorporation of benzoates as preservatives in these products. Functional beverages, such as health drinks and energy drinks, are among the segments utilizing benzoates. Advancements in extraction and production technologies have enhanced the efficiency and purity of benzoates, making them more cost-effective and suitable for various applications.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for benzoates was USD 225 million in 2022 and is estimated to record USD 375.1 million by the end of 2032 due to widespread usage of preservatives in the food and beverage sector.

Demand for sodium benzoate reached USD 60.7 million in 2022 driven by growing adoption of pH regulators and acidulants in certain food and beverage formulations.

Benzoates industry size from the food & beverages application segment is anticipated to witness 4.9% CAGR from 2023-2032 owing to rising adoption in food centres.

U.S. market for benzoates was worth USD 52.1 million in revenue in 2022 and will expand at significant pace from 2023-2032 owing to the presence of stringent regulations and safety standards set by several authorities, such as the U.S. FDA.