DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Benzoate Market Insights, Opportunity, Analysis, Market Shares And Forecast 2017 - 2023" report to their offering.
Benzoates are the naturally occurring esters and salts of benzoic acid found in plants. They are largely utilized as a food preservatives. The global benzoates market is anticipated to rise with a CAGR of about 10% for the forecast period 2016-2023. Increasing demand of benzoates in production of animal feed is promoting immense growth in the market. Utilization of organic acid such as benzoic acids, formic acids, lactic acids and others in animal feed additives has promoted immense growth in the benzoates market.
Addition of organic acids in animal feed offer to increase their bodyweight, reduce pathogens colonization, maintains the PH level and enhances the feed conversion ratio. Increasing feed production has resulted to boost the consumption of supplementary compounds such as benzoates. Global feed production in the year 2015 is estimated to be around 1 billion tones for the year 2015. Annual turnover in global feed market is estimated to value over $400 billion for the same year.
China contributes majority of shares about 19% of global feed market that justifies Asia pacific being a leading benzoate market among others. The demand of animal feed is depicted to grow by 60% by the year 2050 that is expected to propel the benzoate consumption in the near future. Moreover, surging demand of benzoic acid as a food preservative, rising consumption of benzoic acid in formulation of cosmetic products and high utilization of sodium benzoate as an intermediate in manufacturing organic chemicals also helps to back the market growth.
- Velsicol Chemical Llc.
- Tianjin Dongda Chemical Group Co. Ltd.
- FBC Industries Inc.
- Brown Chemical Co. Ltd
- Jarchem Industries
- Akzo Nobel N.V.
- RM Chemicals
- Spectrum Chemicals
- Aldon Corporation
- Wuhan Youji Industries Co. Ltd.
- Total Specialty Chemicals Inc.
- Sakshi Dyes And Pharmaceuticals
Eastman Chemical Company
Key Topics Covered:
2. Market Overview
3. Market Determinants
4. Market Segmentation
5. Competitive Landscape
6. Global Benzoates Market By Region
7. Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/98p239/global_benzoate