Potassium Benzoate Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Potassium Benzoate in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Potassium Benzoate Price Trend for the First Half of 2023

Asia

In the Asia Pacific region, prices of potassium benzoate declined in the initial phase due to the falling market activities of the food, pharmaceuticals, and related sectors. But towards the end of the quarter, the trend inclined till the middle of the second quarter. This phase of the market was positively influenced by a significant rise in the number of new orders from both domestic and international buyers, with a strong supply to sustain this high demand.

The cost of raw materials and fluctuations in the energy sector also supported the northward trajectory of the potassium benzoate price trend. However, in the later months, the prices began to decline. Several factors, such as the reduced number of new orders, the falling market of raw materials, and the increasing level of inventories, adversely affected the potassium benzoate prices.

Europe

The European region was negatively impacted by the ample availability of feedstock materials and falling demand dynamics of the region in the first quarter of 2023. The trend improved slightly in the later months of the first quarter and in the initial phase of the second quarter. This hike was supported by the unexpected increase in domestic orders and surging costs of energy production and shipments. The rise was, however, short-lived as the prices of potassium benzoate declined again as weak demand dynamics circled around the market.

North America

The low prices of feedstock materials and sufficient availability of the product in the market hampered the growth of potassium benzoate prices. A phase of stability was observed in the initial months of the second quarter, but the trend soon declined again. The hike was supported by the improvement in demand and a reduction in the number of inventories. However, the decline in prices was attributed to the slow market activities and hesitation in consumer confidence in the market.

Analyst Insight

According to Procurement Resource, the price of Potassium Benzoate is estimated to depict a fluctuating trajectory as the falling global market activities and slow demand will negatively impact the potassium benzoate price trends.

Procurement Resource provides latest prices of Potassium Benzoate. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.