Global Benzoates Market
Global Benzoates Market
  1. Global Benzoates Market
  2. Global Benzoates Market

Global Benzoates Market

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Global Benzoates Market

Benzoates are food preservatives that are used to stop the growth of bacteria, fungi, and other microorganisms. They are added to foods in the form of sodium benzoate, potassium benzoate, or benzoic acid. They are generally regarded as safe for consumption, although some people may be sensitive to them.
Benzoates are typically derived from a combination of sodium hydroxide, carbon dioxide, and benzaldehyde. Other common raw materials used to manufacture benzoates include hydrochloric acid, sodium chloride, and sodium bicarbonate.
The global benzoates market is expected to experience significant growth during the forecast period of 2023-2033. Market analysts attribute this growth to the increasing demand for preservatives in food and beverage products, as well as the rising consumer inclination towards organic food and beverages.
The supply chain for benzoates typically begins with the extraction of benzaldehyde from petroleum sources. The benzaldehyde is then reacted with sodium hydroxide and carbon dioxide to produce sodium benzoate. This sodium benzoate is then used to produce other benzoates, such as potassium benzoate.
The value chain for benzoates includes the extraction of benzaldehyde from petroleum sources, the production of sodium benzoate, and the production of other benzoate preservatives. The value chain also includes the packaging and distribution of benzoate preservatives, as well as the marketing and sale of benzoate preservatives.
The price of benzoate preservatives is highly dependent on the price of the raw materials used to produce them. When the cost of benzaldehyde, sodium hydroxide, and carbon dioxide increase, the cost of producing benzoate preservatives also increases, resulting in an increase in the price of benzoate preservatives.
Benzoates are typically transported via air, sea, or land. Common logistics used for the transportation of benzoates include trucking, container ships, and air freight.
The growth of the global benzoates market is further propelled by the increasing demand from the personal care and pharmaceutical industries. The key trends in the benzoates market include the increasing demand for natural and organic preservatives, the growing popularity of benzoates-free products, the rising awareness about food safety, the increasing number of health-conscious consumers, and the increasing use of benzoates as preservatives.
The key players in the benzoates market are Cargill Inc., Tate & Lyle Plc, Archer Daniels Midland Company, Roquette Freres, and Jungbunzlauer Suisse AG. These companies are focusing on strategies such as mergers and acquisitions to expand their presence in the benzoates market. For instance, in August 2020, Cargill Inc. acquired EWOS Group, a Norwegian-based aquaculture feed company. The acquisition will enable Cargill to expand its presence in the benzoates market. In August 2019, Tate & Lyle PLC acquired a controlling stake in Eco-Cap Technologies Inc., a Winnipeg-based food and beverage ingredient supplier.
The acquisition will enable Tate & Lyle to expand its product portfolio and strengthen its presence in the benzoates market. In May 2019, Archer Daniels Midland Company acquired a controlling stake in Neovia, a French-based animal nutrition company. The acquisition will enable the company to expand its presence in the benzoates market.

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