Why did the Benzoic Acid Price Change in July 2025? Prices of Benzoic acid experienced a volatile Q2 2025, which began with April's (-9.82%) and May's (-9.53%) decline and followed up with a sharp recovery in June (+16.88%) to USD 1087/ton. Net Quarter over Quarter (QoQ) impact was a moderate rise due to better demand and shortages.

Get the latest insights on price movement and trend analysis of Benzoic Acid in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

The North American export market for Benzoic Acid Exp. remained under notable pressure through the first quarter of 2025, as suppliers faced restrained demand conditions and cautious buying behaviour. The opening month of the year saw procurement activities slow significantly, with downstream industries holding ample stock levels after prior inventory replenishments. Buying interest remained thin as customers deferred fresh orders in anticipation of softer market conditions. Suppliers encountered difficulties in concluding new export deals, and to maintain offtake, they adopted flexible commercial strategies.

The benzoic acid prices in the United States for Q2 2024 reached 1240 USD/MT in June. The region saw significant price declines due to strong import levels, lower demand, and eased freight charges. Moreover, the appreciated dollar, coupled with ample inventories from previous purchases, further contributed to subdued market activity, despite seasonal demand increases.

North America

In the first quarter of 2025, Benzoic Acid prices in the U.S. market experienced a mixed trajectory, starting with a bullish trend in January before shifting to a sustained decline through February and March. January witnessed a notable price increase, driven by strong demand from pharmaceutical and food processing sectors, constrained domestic supply, and logistical challenges such as port congestion and labor shortages. Additionally, rising freight costs and extended lead times due to global shipping disruptions pushed import prices higher, prompting buyers to secure shipments at elevated rates.

The benzoic acid excipient prices in the United States for Q3 2024 reached 1630 USD/MT in September. The region faced notable price declines due to weak demand and abundant supply. Economic challenges and competition from cost-effective alternatives added pressure, while reduced lead times by suppliers did little to stimulate regional buyer interest, maintaining a bearish outlook.

After two years of growth, the Iranian benzoic acid market decreased by -0.4% to $384K in 2024. Overall, consumption faced a abrupt descent. As a result, consumption reached the peak level of $2.8M. From 2020 to 2024, the growth of the market remained at a somewhat lower figure.

The Benzoic Acid Market Report is Segmented by Form (Liquid, Anhydrous, and More), Purity Grade (99. 0–99. 5%, 99. 5–99. 9%, and More), Derivative (Sodium Benzoate, Potassium Benzoate, and More), Application (Food and Beverage, Pharmaceuticals, Chemicals, and More), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Value (USD).

2,3,5-Triiodo Benzoic Acid Market Outlook

The global 2,3,5-Triiodo Benzoic Acid market size was valued at approximately USD 150 million in 2023 and is projected to reach USD 240 million by 2032, growing at a compound annual growth rate (CAGR) of 5.2% over the forecast period. The market is poised for substantial growth, spurred by the increasing demand for specialized chemicals in various innovative applications. A key growth factor driving this market is the rising demand for high-purity chemicals in pharmaceutical and chemical research, which has intensified due to advancements in drug development and agricultural biotechnology. The pharmaceutical industry, in particular, relies heavily on precise chemical formulations, of which 2,3,5-Triiodo Benzoic Acid is a critical component for developing certain types of medications and research-related compounds.

One major growth factor in the 2,3,5-Triiodo Benzoic Acid market is the flourishing pharmaceutical industry, which is driven by the increasing prevalence of chronic diseases and the aging global population. These factors necessitate the development of new and improved medications, leading to heightened research and development activities. As pharmaceutical companies continue to search for novel compounds and formulations, the demand for high-quality 2,3,5-Triiodo Benzoic Acid is expected to rise significantly. Furthermore, government initiatives and funding for healthcare improvements and research in developed countries are further bolstering the demand, as these efforts often prioritize the development of innovative drug therapies that require high-purity chemical intermediates.

The chemical research sector also contributes significantly to the growth of this market. With advancements in chemical synthesis and analytical techniques, researchers are increasingly exploring the properties and potential applications of iodinated compounds. 2,3,5-Triiodo Benzoic Acid, with its unique molecular structure, offers valuable insights into molecular interactions and chemical behavior, making it an essential compound for chemical research. The push for innovative research and the discovery of novel chemical pathways also drive the demand for such specialized compounds. Additionally, the emphasis on green chemistry and sustainable practices in chemical research has led to increased usage of iodine-based compounds, including 2,3,5-Triiodo Benzoic Acid.

The agricultural sector is another critical area where the demand for 2,3,5-Triiodo Benzoic Acid is rising. With the growing need to enhance crop yields and improve resistance to pests and diseases, there is an increasing focus on developing advanced agrochemicals. 2,3,5-Triiodo Benzoic Acid plays a role in the synthesis of plant growth regulators and other agrochemical formulations that can improve agricultural productivity. The trend towards sustainable agriculture and precision farming further emphasizes the need for more efficient and effective chemical inputs, thereby boosting the demand for high-purity 2,3,5-Triiodo Benzoic Acid.

Regionally, the Asia Pacific market is expected to witness the highest growth rate during the forecast period, driven by the rapid expansion of the pharmaceutical and agricultural sectors in countries like China and India. North America remains a dominant region due to its well-established pharmaceutical industry and robust research infrastructure. Europe is also a significant market, with ongoing innovations in chemical research. Meanwhile, the Middle East & Africa and Latin America are emerging regions, with increasing investments in healthcare and agriculture that could spur market growth. The regional distribution reflects a comprehensive global demand for 2,3,5-Triiodo Benzoic Acid, each region contributing uniquely to the overall market dynamics.

Application Analysis

The pharmaceutical application of 2,3,5-Triiodo Benzoic Acid is a major driver of the market. This compound is often utilized in the synthesis of active pharmaceutical ingredients (APIs) and other medicinal formulations. Pharmaceutical companies are increasingly focusing on developing drugs for complex diseases, which require precise chemical compounds as building blocks. The compound's iodine content makes it particularly useful in imaging agents and contrast media, which are crucial for diagnostic procedures. The growing emphasis on personalized medicine and biologics further enhances the demand for high-purity 2,3,5-Triiodo Benzoic Acid, as these drugs often require stringent quality controls and specific chemical characteristics.

In the field of chemical research,

In 2024, the EU benzoic acid market decreased by -5.9% to $224M for the first time since 2021, thus ending a two-year rising trend. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2024; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the market attained the peak level at $238M in 2023, and then shrank in the following year.

Natural Benzoic Acid Market Outlook

The global market size for natural benzoic acid was valued at approximately USD 1.2 billion in 2023 and is projected to reach USD 2.3 billion by 2032, exhibiting a robust compound annual growth rate (CAGR) of 7.1% over the forecast period. This growth is primarily driven by its increasing applications across various industries such as food and beverages, pharmaceuticals, and cosmetics, along with rising demand for organic and natural products. The growing awareness regarding the benefits of natural preservatives over synthetic alternatives is significantly propelling the market forward.

One of the primary growth factors for the natural benzoic acid market is the rising consumer inclination towards organic and natural products, which is expected to promote demand in the food and beverages industry. As consumers become more health-conscious, there is a noticeable shift towards products that are free from synthetic chemicals. Natural benzoic acid, known for its preservative properties, is increasingly being used to extend the shelf life of organic food products without compromising their safety and nutritional value. This trend is anticipated to be a major driving force in the market over the coming years.

Another critical factor contributing to market growth is the expanding pharmaceutical industry, which utilizes natural benzoic acid in the formulation of various medications. Its antimicrobial properties make it an ideal component in the manufacturing of topical ointments, creams, and other pharmaceutical products. As the global healthcare industry continues to grow, driven by an aging population and increasing healthcare expenditures, the demand for natural benzoic acid in pharmaceutical applications is expected to rise substantially, further boosting market growth.

The cosmetics and personal care industry is also playing a significant role in the expansion of the natural benzoic acid market. The shift towards natural and organic cosmetics, fueled by growing consumer awareness about the adverse effects of synthetic ingredients, has led to increased usage of natural benzoic acid as a preservative in various beauty and personal care products. This trend is particularly prevalent among millennials and Generation Z consumers, who prioritize sustainability and natural ingredients in their purchasing decisions. Consequently, the cosmetics and personal care sector is expected to contribute significantly to market growth.

In addition to its applications in the pharmaceutical industry, Benzoic Acid Lithium Salt is gaining attention for its potential use in various industrial processes. This compound, a derivative of benzoic acid, offers unique properties that make it suitable for specialized applications, particularly in the field of battery technology. Its role as an electrolyte component in lithium-ion batteries is being explored, given its potential to enhance battery performance and longevity. As the demand for efficient energy storage solutions continues to rise, the exploration of Benzoic Acid Lithium Salt in this context could open new avenues for innovation and growth within the natural benzoic acid market.

From a regional perspective, Asia Pacific is expected to be the fastest-growing market for natural benzoic acid, driven by increasing industrialization, urbanization, and rising disposable incomes. The burgeoning food processing and pharmaceutical industries in countries like China and India are expected to be key contributors to regional market growth. Additionally, the increasing adoption of Western dietary and lifestyle habits in these regions is further boosting demand for natural preservatives. As a result, Asia Pacific is anticipated to witness a substantial CAGR over the forecast period.

Source Analysis

The natural benzoic acid market can be segmented based on source into plant-based, animal-based, and synthetic variants. Plant-based natural benzoic acid is predominantly derived from fruits such as cranberries, prunes, and raspberries, as well as from certain spices like cloves and cinnamon. The demand for plant-based benzoic acid is on the rise due to the growing trend of veganism and the preference for plant-derived ingredients. Consumers are increasingly seeking out products that align with their ethical and dietary preferences, thereby boosting the market for plant-based natural benzoic acid.

Animal-based natural benzoic acid, on the other hand, is der

Global Benzoic Acid Market Size, Share, Growth, Trends & Research report detailed By Application, By End-Use Industry & Forecast 2027

Benzoic Acid Market size was valued at USD 1.32 Billion in 2023 and is projected to reach USD 1.94 Billion by 2031, growing at a CAGR of 5.48% from 2024 to 2031.

Benzoic Acid Market Dynamics

The key market dynamics that are shaping the Benzoic Acid Market include:

Key Market Drivers Rising Demand in Preservative Applications: The ability to inhibit growth of ,old, yeast, and bacteria and ensure safety as well as durability of the food and beverages is enhancing the demand for benzoic acid. Benzoic acid is being used by producers in order to meet consumer demand for food goods that last longer, which is fueling industry expansion. Pharmaceutical Industry Growth: The pharmaceutical industry's expansion greatly increases demand for benzoic acid. Its antifungal and antibacterial qualities make it useful in the creation of different drugs, particularly topical creams, ointments, and expectorants. This market industry is being propelled by rising worldwide healthcare spending and demand for medical products. Personal Care and Cosmetics Sector Expansion: With rising disposable incomes and increased awareness of personal cleanliness and skin care, demand for personal care and cosmetics goods is increasing. Benzoic acid is a key component in these goods, acting as a preservative to extend shelf life and limit microbiological growth, driving market growth. Key Challenges: Shift Towards Natural Preservatives: The trend toward natural and organic products has grown, with customers becoming more suspicious of synthetic ingredients. This trend poses a challenge to the benzoic acid market, necessitating the discovery of natural benzoic acid sources or alternatives that match consumer standards for clean labelling. Regulatory and Health Concerns: Stringent rules governing the use of preservatives in food and cosmetics present a considerable hurdle. The FDA and EU have imposed rigorous restrictions on benzoic acid concentrations to reduce potential health risks, such as allergy and metabolic issues, particularly in sensitive persons. Availability and Price Volatility of Raw Materials: The availability and price of toluene, a petrochemical product, determine the manufacture of benzoic acid. Fluctuations in the global oil market have a direct impact on toluene pricing, creating cost instability for benzoic acid producers and potentially impeding market expansion. Key Trends: Technological Advancements in Production: Manufacturing process innovations aim to improve benzoic acid production efficiency and environmental friendliness is a significant trend influencing the benzoic acid market. Advanced techniques focus on waste reduction, energy efficiency, and carbon footprint minimization, which aligns with global sustainability goals and leads to market expansion for benzoic acid. Rising Interest in Natural Sources: The industry is experiencing a surge in demand for naturally derived benzoic acid, which may be found in certain fruits and spices. Research and development activities are aimed at leveraging these natural sources to meet the clean-label trend.

¿Por qué cambió el precio del ácido benzoico en julio de 2025? Los precios del ácido benzoico experimentaron un volátil Q2 de 2025, que comenzó con el descenso de abril (-9,82%) y mayo (-9,53%) y siguió con una fuerte recuperación en junio (+16,88%) a USD 1087/ton. El impacto del trimestre neto sobre el trimestre (QoQ) fue un aumento moderado debido a una mejor demanda y escasez.

The Europe Benzoic Acid Market would witness market growth of 5.9% CAGR during the forecast period (2024-2031). In the year 2021, the Europe market's volume surged to 307.18 kilo tonnes, showcasing a growth of 22.7% (2020-2024). Alkyd resins, synthesized using benzoic acid, play a crucial role in t

Global Benzoic Acid Market was valued at USD 1.24 Billion in 2023 and is anticipated to project steady growth in the forecast period with a CAGR of 4.86% through 2029.

The global Benzoic Acid market is expected to grow at a CAGR of 4.15% during the forecast period until 2035. Benzoic Acid occurs in form of colorless crystalline solid and is simplest of majority of the carboxylic acid compounds.

The East Asian benzoic acid market dropped slightly to $873M in 2024, falling by -4.9% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $1.1B in 2018; however, from 2019 to 2024, consumption stood at a somewhat lower figure.

After five years of growth, the Sri Lankan benzoic acid market decreased by -8.2% to $398K in 2024. Over the period under review, consumption, however, recorded a resilient increase. Over the period under review, the market hit record highs at $434K in 2023, and then contracted in the following year.

Benzoic Acid Market Outlook

According to our latest research, the global benzoic acid market size reached USD 1.12 billion in 2024, demonstrating robust growth driven by expanding applications across various end-use industries. The market is expected to register a steady CAGR of 5.3% during the forecast period, with the market size projected to reach USD 1.77 billion by 2033. This growth is primarily fueled by rising demand in the food and beverage sector, increasing utilization in pharmaceuticals, and the growing need for preservatives in multiple industrial applications. As per our latest research, the benzoic acid market continues to evolve, leveraging technological advancements and shifting consumer preferences to maintain its upward trajectory.

One of the primary growth drivers for the benzoic acid market is its extensive use as a preservative in the food and beverage industry. Benzoic acid and its salts, such as sodium benzoate, are widely recognized for their ability to inhibit the growth of bacteria, yeast, and fungi, thereby extending the shelf life of various food products. The increasing global demand for packaged and processed foods, particularly in emerging economies, has significantly contributed to the surge in benzoic acid consumption. Consumers are prioritizing convenience and longer shelf stability, which compels manufacturers to incorporate effective preservatives like benzoic acid into their formulations. Additionally, the tightening of food safety regulations worldwide has further solidified the importance of benzoic acid as a reliable and approved food additive, bolstering its market penetration.

Another crucial factor propelling the benzoic acid market is the rising utilization of benzoic acid in the pharmaceutical sector. Pharmaceutical grade benzoic acid is employed in the formulation of various medicinal products, including ointments, creams, and cough syrups, due to its antimicrobial and antifungal properties. The expansion of the global pharmaceutical industry, driven by increasing healthcare expenditures and the prevalence of chronic diseases, has led to a higher demand for safe and effective excipients such as benzoic acid. Moreover, the shift towards more stringent quality standards and regulatory compliance in pharmaceutical manufacturing has amplified the need for high-purity benzoic acid. This trend is expected to persist as the healthcare sector continues to grow, particularly in developing regions with improving access to medical care.

In addition to its applications in food and pharmaceuticals, benzoic acid is gaining traction in the chemical and personal care industries. In the chemical sector, benzoic acid serves as a key intermediate for the synthesis of various compounds, including plasticizers, alkyd resins, and benzoyl chloride. The rising demand for specialty chemicals and polymers in industrial applications has indirectly fueled the consumption of industrial-grade benzoic acid. Furthermore, the personal care and cosmetics industry utilizes benzoic acid as a preservative in products such as lotions, shampoos, and deodorants, responding to consumer demand for safer and more natural ingredients. The trend towards clean-label and preservative-free products has also led to innovation in benzoic acid formulations, ensuring continued relevance in this segment.

Regionally, the Asia Pacific market has emerged as the dominant force in the global benzoic acid landscape, accounting for the largest share in 2024. This regional supremacy is attributed to the rapid industrialization, burgeoning population, and expanding food processing and pharmaceutical sectors in countries like China and India. North America and Europe follow closely, supported by established food and personal care industries and stringent regulatory frameworks. Latin America and the Middle East & Africa, while smaller in market share, are witnessing gradual growth due to increasing urbanization and rising disposable incomes. The regional dynamics of the benzoic acid market are expected to evolve further as emerging economies continue to invest in industrial and healthcare infrastructure.