Methyl Benzoate Market size was valued at USD 150 Million in 2024 and is forecasted to grow at a CAGR of 6% from 2026 to 2033, reaching USD 250 Million by 2033.
The global methyl benzoate market was valued at approximately USD 7.6 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030. The growth is attributed to increasing demand from various end use industries such as agrochemicals, fragrances, and pharmaceuticals. Methyl benzoate is widely used as an intermediate in pesticide formulations, especially in the synthesis of pyrethroids, which are gaining popularity due to their low toxicity in humans and high effectiveness. The market is also driven by the growing cosmetic and personal care industry, where methyl benzoate is used as a fragrance and flavoring agent. The versatility of methyl benzoate in industrial applications is further enhancing its global demand, especially in developing countries undergoing rapid industrialization. Regionally, Asia Pacific held the largest market share in 2022, accounting for more than 38% of the total revenue, driven by strong consumption in countries like China and India where the agrochemical sector is expanding significantly. North America followed, supported by advancements in pesticide technologies and steady demand in the pharmaceutical sector. Europe exhibited moderate growth with an increasing trend toward environmentally friendly and bio based chemicals. Latin America and the Middle East & Africa are emerging as high potential regions, backed by rising agricultural activities and urbanization. The global methyl benzoate market is witnessing new opportunities in sustainable crop protection solutions and the development of eco friendly product formulations, particularly in countries focusing on reducing carbon footprint and enhancing green chemistry initiatives. This presents a promising landscape for future market expansion and innovation across diverse regional segments.
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Merck
Inoue Perfumery
Vertellus
Sherman Chemicals
Yash Rasayan and Chbmicals
Keva
Ventos
Sun Fine Chemicals
Emerald Kalama Chemical
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Methyl Benzoate Market
Fragrance Industry
Pharmaceuticals
Cosmetics and Personal Care Products
Agricultural Chemicals
Food and Beverage Industry
Food Processing
Healthcare
Chemical Manufacturing
Manufacturing of Consumer Goods
Agricultural Sector
Industrial Grade
Reagent Grade
Food Grade
Pharmaceutical Grade
Research Grade
Synthetic Methyl Benzoate
Natural Methyl Benzoate
Biotechnological Sources
Liquid Methyl Benzoate
Solid Methyl Benzoate
Concentrates and Solutions
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Methyl Benzoate Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Methyl Benzoate Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Methyl Benzoate Market, By Type
6. Global Methyl Benzoate Market, By Application
7. Global Methyl Benzoate Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Methyl Benzoate Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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