The global Potassium Benzoate market stood at approximately 20 thousand tonnes in 2023 and is anticipated to grow at a CAGR of 4.56% during the forecast period until 2034.
Potassium benzoate, a colorless and odorless powder, is produced through the fusion of benzoic acid and potassium salt through heat. Commonly utilized by food manufacturers as a preservative, potassium benzoate serves as an alternative to sodium benzoate in certain instances to lower sodium levels in food products. Its antimicrobial properties aid in preventing food spoilage while also enhancing flavor profiles. In minute concentrations, potassium benzoate acts as a preservative by inhibiting microbial activity, notably extending the shelf life of unpasteurized cider and finding applications in carbonated beverages. Functioning as a food preservative, it effectively prevents microbial growth, thereby prolonging the shelf life of diverse food and beverage items, guaranteeing their safety and freshness. Moreover, potassium benzoate is employed in the manufacturing of soft drinks, fruit juices, and jams, where it enhances stability and flavor. In the pharmaceutical sector, it serves as an excipient, ensuring the stability and efficacy of medications. With its established safety profile and efficacy, potassium benzoate remains an indispensable ingredient, facilitating the preservation and quality assurance of a broad array of consumer goods. Additionally, potassium benzoate serves as a component in fireworks to produce sound effects. Potassium benzoate, a prevalent preservative, is commonly found in various beauty and skincare products, including shampoos, conditioners, facial cleansers, and moisturizers, alongside its frequent use in food items. There are different Grades of Potassium Benzoate: Pharma grade, Technical Grade, Food Grade.
food and beverage industry due to its effectiveness in inhibiting microbial growth and extending shelf life. Its popularity stems from several key factors. Its antimicrobial properties help prevent spoilage caused by bacteria, yeast, and molds, thereby maintaining the quality and safety of food and beverage products over an extended period. This is particularly crucial for perishable items such as juices, soft drinks, sauces, and condiments. Moreover, Potassium Benzoate is cost-effective compared to other preservatives, making it an attractive option for manufacturers looking to maintain product integrity while controlling production costs. Furthermore, its versatility extends beyond food and beverages to include personal care products like shampoos, conditioners, and skincare items, where it serves as a preservative to maintain product stability and prevent microbial contamination which further boost the market expansion. The global Potassium Benzoate market is likely to reach approximately 32 thousand tonnes in 2034.
The global Potassium Benzoate market is geographically divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In North America, the Potassium Benzoate market experiences robust growth due to increased demand for processed food items and the expansion of animal feed companies in the region. Meanwhile, the Potassium Benzoate market in Asia Pacific holds a considerable share, fuelled by the growing demand for packaged food products across the region. With a rapidly growing population and rising disposable incomes, there is a surge in the demand for packaged and processed foods, leading to a need for preservatives like Potassium Benzoate. Urbanization and changing lifestyles in developing nations like India and China also play a significant role, as more individuals migrate to urban areas and embrace busier lifestyles, resulting in an increased preference for convenient, readily available food options often containing preservatives. The thriving food processing industry in Asia Pacific presents a lucrative market opportunity for Potassium Benzoate as a dependable and cost-effective preservative solution.
Based on the end-user industry, the global Potassium Benzoate market is divided into Food & Beverages, Personal Care & Cosmetics, Pharmaceuticals, and Others. Among these, Food & Beverages is the major segment and held about 80% of the global Potassium Benzoate market in 2023 and is anticipated to prevail the similar trend in the upcoming years.
Major players in the Global Potassium Benzoate market are A.M Food Chemical, Emerald Kalama Chemical, Tengzhou Tenglong Chemical, Macco Organiques Inc., FBC Industries, Shandong Tong Tai Wei Run Chemical, Tengzhou Aolong Chemical, Shandong Ruisheng Biotechnology and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Potassium Benzoate which covers production, demand and supply of Potassium Benzoate market in the globe.
• To analyse and forecast the market size of Potassium Benzoate
• To classify and forecast Global Potassium Benzoate market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Potassium Benzoate market in the globe.
To extract data for Global Potassium Benzoate market, primary research surveys were conducted with Potassium Benzoate manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Potassium Benzoate market over the coming years.
ChemAnalyst calculated Potassium Benzoate demand across the globe by analyzing the volume of Potassium Benzoate consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Potassium Benzoate manufacturers and other stakeholders
• Organizations, forums and alliances related to Potassium Benzoate distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Potassium Benzoate manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Potassium Benzoate market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
20 thousand tonnes
Market size Volume in 2034
32 thousand tonnes
Growth Rate
CAGR of 4.56% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by Grade, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Food & Beverages, Personal Care & Cosmetics, Pharmaceuticals, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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What was the net market size of Potassium Benzoate in terms of volume in 2023?
Ans:
The global market size of Potassium Benzoate has reached approximately 20 thousand tonnes in 2023.
Q2.
Which industry is the leading end-user industry of Potassium Benzoate?
Ans:
Food & Beverages industry is the leading end-user industry of Potassium Benzoate globally.
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