Potassium Benzoate Price Trend

Potassium Benzoate Prices December 2023

The price of potassium benzoate in the USA for Q4 2023 reached 2415 USD/MT in December. The decrease in the prices in key Chinese provinces, which are major players in the market, has a significant impact on the overall pricing. Moreover, several other factors contributed to this decrease like reduced international demand enabling Chinese provinces to lower their export charges.

The price trend for potassium benzoate in China reached 2245 USD/MT in December 2023. Significant pricing changes occurred in the country primarily due to a decrease in the prices of raw materials, leading to low production costs of potassium benzoate.

In Germany, potassium benzoate prices reached 2430 USD/MT, influenced by challenges in stock management, further contributing to the overall price decrement. There was also an imbalance between supply and demand, with consistently low demand for the product. Moreover, tensions in the Red Sea and the Suez Canal became a major concern in the pricing fluctuations.

Potassium Benzoate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Potassium Benzoate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of potassium benzoate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of potassium benzoate at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of potassium benzoate price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing potassium benzoate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Potassium Benzoate Market Analysis

The global potassium benzoate market size reached 20 Thousand Tons in 2023. By 2032, IMARC Group expects the market to reach 29.9 Thousand Tons, at a projected CAGR of 4.60% during 2023-2032.

• Potassium benzoate is mostly employed as a preservative in the food sector. It functions as a bacteriostatic and fungistatic agent only in acidic environments (pH 4.5 or lower), where its antibacterial qualities are ineffective. Because of its specificity, it is an ideal choice for acidic food and drink items. Potassium benzoate prolongs the shelf life of food products without sacrificing flavor or safety by inhibiting the growth of bacteria. Additionally, it is frequently found in salads, jams, fizzy and still drinks, and other sauces. Moreover, the increasing consumption of packaged and processed food among the masses is driving the demand for effective preservatives. According to the IMARC Group, the global packaged food market is expected to reach US$ 4,581.6 Billion by 2032. This will further increase the need for preservatives like potassium benzoate.
• Potassium benzoate is used as a preservative in pharmaceutical products, such as cough syrups and oral medications. It works to stop microorganisms from growing, which could otherwise deteriorate the substance or reduce its therapeutic effectiveness. Additionally, in certain formulations, its buffering qualities help to maintain the required pH, which enhances the medication's durability and effectiveness.
• The growing employment of potassium benzoate in the production of various personal care products like toothpaste, mouthwashes, and certain skin and hair care products is offering a favorable market outlook. It helps to ensure that the quality of these products is retained for a long period. Moreover, people are constantly seeking oral care products that provide efficient results. According to a report presented by the World Health Organization (WHO) in 2023, oral diseases pose a major health burden for many countries and affect individuals throughout their lives.
• The rising adoption of potassium benzoate E212 in the agricultural industry as a preservative in animal feed and poultry feed is propelling the growth of the market. Farmers are constantly seeking feed formulations to improve the productivity of their animals and improve their health conditions. Moreover, the increasing protein consumption among the among the masses to prevent the occurrence of various diseases is strengthening the market growth. On the basis of the information provided by the IMARC Group, the global meat market is projected to reach US$ 1.7 Trillion by 2032. This will further drive the need for efficient feed formulations among farmers.

Potassium Benzoate News

The report covers the latest developments, updates, and trends impacting the global potassium benzoate market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in potassium benzoate production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the potassium benzoate price trend.

Latest developments in the potassium benzoate industry:

• May 2023: UMC Ingredients announced the launch of a new and premium version of potassium benzoate under the tradename PureBenz P^™​.

Product Description

Potassium benzoate is a white, odorless powder that is manufactured by combining benzoic acid and potassium salt under heat. It is often utilized in the food and beverage (F&B) industry as a preservative owing to its antimicrobial and fungistatic properties. It is commonly added to jams, salads, and various types of sauces. It is also incorporated into various personal care products like toothpaste, mouthwash, shampoo, and skin care items as a preservative to improve the efficacy of these products. It is extensively employed in the agriculture industry for creating various efficient animal and poultry feed formulations to improve their yield and enhance their health conditions.

Regional Coverage

The report provides a detailed analysis of the potassium benzoate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the potassium benzoate price trend.

Global Potassium Benzoate Price

The report offers a holistic view of the global potassium benzoate pricing trends in the form of potassium benzoate price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of potassium benzoate but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed potassium benzoate demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Potassium Benzoate Price

The European region has experienced a declining price trend owing to Giving back from surplus inventory among suppliers the former leading to a decrease in prices. In addition, fluctuations in the cost of various raw materials, particularly in the benzoic acid market, played a major role in the price variability of potassium benzoate. The reduction in prices was caused by a combination of factors, including reduced international needs, excess inventory among suppliers, and a decline in raw material prices.

This analysis can be extended to include detailed potassium benzoate price information for a comprehensive list of countries.

North America Potassium Benzoate Price

In North America, the potassium benzoate market has witnessed consistent price fluctuations due to various factors. Initially, the market encountered A moderate to high supply scenario, attributed to hidden orders and heightened production activities causing excessive inventory levels. Moreover, the demand for potassium benzoate remained consistently moderate to high, leading to positive sentiments from end-user sectors and increased offtake.

Specific potassium benzoate historical data within the United States and Canada can also be provided.

Middle East and Africa Potassium Benzoate Price

The potassium benzoate market in the Middle East and Africa (MEA) region showcased a bearish sentiment owing to weaker demand fundamentals from downstream businesses. It has led to limited self-consumption and low exports, resulting in downward price trends. Furthermore, the region is experiencing challenging economic conditions and a liquidity crisis, leading to a further decline in market activity and purchasing power.

The report explores the potassium benzoate pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on potassium benzoate prices for countries can also be provided.

Asia Pacific Potassium Benzoate Price

The potassium benzoate pricing in the Asia Pacific region showed a declining trend due to several factors. The weak economic conditions and a slow recovery in the region impacted the potassium benzoate prices in the region. Additionally, there was an excess of local inventory, leading to a reduction in prices as suppliers focused on clearing their stocks, intending to replenish their inventories wait fresh stock in the upcoming quarter.

This potassium benzoate price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Potassium Benzoate Price

The analysis of potassium benzoate prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of potassium benzoate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting potassium benzoate price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The potassium benzoate price charts ensure our clients remain at the forefront of the industry.