Benzaldehyde Market size was USD 308.7 million in 2024 and is estimated to reach USD 460.6 million by the end of 2037, expanding at a CAGR of 2.9% during the forecast period, i.e., 2025-2037. In 2025, the industry size of benzaldehyde is evaluated at USD 326.8 million.
The benzaldehyde market is experiencing rapid growth due to its extensive use in perfumes, soaps, lotions, and various cosmetic products. It is also a crucial ingredient in food and drink flavorings, giving them a distinctive cherry or almond taste. The chemical molecule benzaldehyde (C6H5CHO) is made up of a benzene ring with a formyl substituent. It is one of the most industrially useful and basic aromatic aldehydes. Benzaldehyde, a bitter almond oil component, can be derived from various natural sources. Cakes and other baked items are flavored with imitation almond extract, which contains synthetic benzaldehyde as a flavoring agent.
|
Country |
Export Value for Benzaldehyde (in USD Million) |
Country |
Import Value for Benzaldehyde (in USD Million) |
|
China |
41.5 |
U.S. |
30.6 |
|
Netherlands |
19.7 |
UK |
11.2 |
|
India |
8.19 |
India |
5.47 |
|
Belgium |
7.28 |
South Korea |
5.09 |
|
Malaysia |
5.45 |
Germany |
5.07 |
OEC
According to the Observatory of Economic Complexity (OEC), benzaldehyde was the 4125th most traded product in the world in 2022, with USD 94.7 million in global commerce. Benzaldehyde exports fell by 17% between 2021 and 2022, from USD 114 million to USD 94.7 million. Benzaldehyde trade accounts for 0.0004% of global trade. According to the Product Complexity Index (PCI), benzaldehyde is ranked 2862nd.
Furthermore, the growth in the production capacity of benzaldehyde has been a key driver of its benzaldehyde market growth. As demand continues to rise, manufacturers are expected to invest in expanding their production facilities, ensuring a steady supply of this versatile product.
Proposed benzaldehyde usage and end use applications are as follows:
|
Compound |
Proposed Quantity MT/MONTH |
End use |
|
Ortho Chloro Benzaldehyde |
750 |
Used in electroplating, optical brighteners, zinc electroplating intermediates, pharmaceuticals, dyes, and API intermediates. |
|
Para Chloro Benzaldehyde |
750 |
Used in dyestuffs, optical brighteners, pharmaceuticals, and metal finishing products. |
|
2-Methyl Benzaldehyde |
750 |
Used in perfumes and as a flavoring agent. |
|
4-Methyl Benzaldehyde |
750 |
Used in perfumes, pharmaceuticals, dyestuff intermediate, and as a flavoring agent. |
|
2,4-Dichloro Benzaldehyde |
150 |
Used in the preparation of dyes. |
|
2,6-Dichloro Benzaldehyde |
150 |
Used in the preparation of dyes, as an intermediate in manufacturing pharmaceuticals, dyes, and other organic chemicals. |
Growth Drivers
|
Company |
Agrochemical Revenue (in USD Billion) |
|
SABIC |
63 |
|
Syngenta |
52 |
|
BASF SE |
43 |
|
Corteva Inc. |
37 |
|
Bayer AG |
28 |
|
Nutrien |
25 |
|
Mosaic |
9 |
|
Yara International |
7 |
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
2.9% |
|
Base Year Market Size (2024) |
USD 308.7 million |
|
Forecast Year Market Size (2037) |
USD 460.6 million |
|
Regional Scope |
|
Process (Toluene Oxidation Process, Toluene Chlorination Process)
The toluene oxidation process segment is set to capture over 66.6% benzaldehyde market share by 2037. The segment’s growth is driven by the increasing need for food-grade benzaldehyde, which is produced during the toluene oxidation process in the food and beverage industry. Furthermore, growing advancements in the toluene oxidation process are also escalating the growth of the segment. For instance, a 2023 research on the oxidation of toluene to benzaldehyde using air as an oxidant and catalyzed by polyoxometalate (POM) loaded on activated carbon demonstrates an efficient and eco-friendly approach. The catalyst consisting of POM immobilized on activated carbon, facilitates selective oxidation under mild conditions, minimizing by-products. Activated carbon enhances the dispersion of POM, improving catalytic activity and stability. Air, as a green oxidant, eliminates the need for harmful chemicals, making the process sustainable. This method offers a scalable and cost-effective alternative for industrial applications.
Derivatives (Benzoic Acid, Sodium Benzoate, Benzyl Alcohol, Cinnamic Acid)
The benzyl alcohol segment in benzaldehyde market will grow at a substantial rate during the assessed period. The growing demand for benzyl alcohol as an anti-parasite medication and a frequent preservative in injectable medications is driving the segment’s expansion in developing economies. Moreover, the growing usage of benzyl alcohol in personal care products. Cosmetics and beauty items like body lotions, shampoos, sunscreens, soaps, and hair care products are preserved by benzoyl alcohol. The desire for natural products has also increased as attention to skin and hair has grown. Organic sources are becoming necessary in face creams, eye shadows, wrinkle-free creams, and other night creams due to growing awareness of the negative effects of parabens and silicones.
Our in-depth analysis of the global benzaldehyde market includes the following segments:
|
Derivatives |
|
|
Process |
|
|
Application |
|
North America Market Statistics
North America benzaldehyde market will garner a share of 33.3% by 2037. The market is growing due to the region’s well-established agricultural sector and expanding pharmaceutical industry. Additionally, the region’s flourishing flavors and fragrances industry, supported by the rising demand for processed foods, cosmetics, and luxury products, is boosting benzaldehyde usage. Also, innovations in bio-based benzaldehyde production and the region’s focus on sustainable and regulatory-compliant solutions further contribute to the benzaldehyde market growth. Moreover, major key players are increasing their benzaldehyde derivatives production capacity to meet the consumer demand in the region accelerating the market expansion. In May 2023, to support the expansion of its existing clientele in North America, the special chemicals business LANXESS increased the amount of benzyl alcohol it can produce at its facility in Kalama/Washington, USA. Several technological advancements have led to the capacity increase.
Due to the growing use of benzaldehyde in the industrialized food business in the U.S., the country has a sizable benzaldehyde market. It is becoming one of the most sought-after ingredients in various food products across the nation due to its almond-like flavor and aroma. For the launch of novel foods and beverages, the country boasts state-of-the-art research and development facilities. Benzaldehyde is used by companies to create distinctive flavor profiles that give them a distinctive and enticing taste. Additionally, in Canada, the government’s emphasis on sustainability and green chemistry is encouraging the adoption of bio-based benzaldehyde, fostering market expansion. The combination of industrial development and regulatory compliance supports the steady growth of the benzaldehyde market.
APAC Market Analysis
Asia Pacific benzaldehyde market is expected to grow at a significant rate during the projected period. The market’s expansion can be attributed to the region's high demand for cosmetics and personal care items. As of 2023, the Asia Pacific region accounted for 32% of the personal care and cosmetics industry. The four leading markets within this area—South Korea, Japan, India, and China—each follow unique developmental trajectories. Also, the region's increasing urbanization and disposable income will propel the benzaldehyde market growth. The benzaldehyde market will increase profitably as a result of the large-scale rural-to-urban migration.
Also, China has easy access to the raw materials needed to produce benzaldehyde, and it also has a sophisticated industrial infrastructure to support this capability. As a result, the domestic market now has a consistent and affordable supply of benzaldehyde to meet the rising demand from several industries. It is anticipated that benzaldehyde will be widely utilized in synthesis as an intermediary to create the API needed for many pharmaceuticals. Its distinct chemical characteristics make it an essential component in the creation of a large number of medications.
The benzaldehyde market has seen a significant increase in sales due to the country's rapidly expanding pharmaceutical sector. With a growth of USD 332 billion by 2022, with a compound annual growth rate (CAGR) of 7% from 2022 to 2025, the pharmaceutical industry in China continues to be strategically significant. The primary drivers of this growth are still the aging population and the prevalence of chronic diseases, the expansion of insurance coverage, and the affluent middle class with their higher healthcare demands.
Product demand is expected to benefit from India's status as a rapidly expanding economy, which is facilitated by the nation's growing disposable income. These factors are expected to contribute to India's appeal as a location for benzaldehyde manufacturers and investors. Also, the increasing sales of processed foods and beverages in the nation will drive the market growth. The regional food industry had a strong demand for and offtake of benzaldehyde. In the second quarter of 2024, PepsiCo's India business experienced robust improvements in beverage and snack sales volumes along with high single-digit organic revenue growth. Convenient food unit volume climbed by 1% in the AMESA region, primarily due to double-digit growth in India, while beverage unit volume increased by 2%, primarily due to India.
The benzaldehyde market will continue to rise owing to the major players in the industry making significant R&D investments to broaden their product ranges. Key market developments include new product releases, contractual agreements, mergers and acquisitions, increased investments, and cooperation with other organizations. Market participants are also engaging in various strategic initiatives to broaden their reach. The benzaldehyde industry needs to provide affordable products in order to grow and thrive in a more competitive and expanding benzaldehyde market environment.
Author Credits: Rajrani Baghel
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