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According to a new market research study on the “North America Benzoic Acid market” Forecast to 2028 –– by application and countries is expected to reach US$ 230,631.53 thousand by 2028 from US$ 161,024.79 thousand in 2021. The market is estimated to grow at a CAGR of 5.3% from 2021 to 2028. The report provides trends prevailing in the North America Benzoic Acid market along with the drivers and restraints pertaining to the market growth. Growing demand for benzoic acid from food & beverages industry is the major factor driving the growth of the North America Benzoic Acid market. However, issues associated with unstable Rising volatility in raw material prices factors the growth of North America Benzoic Acid market.

Benzoic acid is commonly used as a food preservative in different food products, such as jams, jelly, marmalade, coffee extract, cooked pork, sauce, and different syrups, as it can prevent the growth of bacteria and fungus. Further, food preservation is necessary to increase the shelf life of food products.

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Major key players covered in this report:

Moreover, sodium benzoate is derived from benzoic acid, and it is commonly used as a food preservative. Sodium benzoate is most effective in low acid foods and beverages and baked goods such as bread, cakes, and pies. There is increasing use of sodium benzoate as an effective preservative in various baked products due to the activity against molds responsible for spoilage of most baked products. The demand for different bakery products is increasing due to the convenience, accessibility, and nutrition profile associated with these products. Moreover, with the launch of innovative products, the bakery industry is constantly evolving. These factors contribute to the high demand for sodium benzoate as a preservative for various baked products.

Further, with the growing preference for a healthy diet, rapid economic developments, and increasing per capita income, the demand for different processed and packaged food products is rising. Thus, the North America benzoic acid market is growing with the increasing prominence of benzoic acid in the food & beverage industry.

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The North America benzoic acid market is bifurcated into application and country. Based on application, the North America 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 North America benzoic acid market segmented into the US, Mexico, and Canada. The US dominated the market in 2020.

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