Food Preservatives Global Market Size, Share, Growth, Trends, By Type, By Function, By Application, Opportunity Analysis and Forecast, 2024-2033 | Kerry Group, Cargill Incorporated, Celanese Corporation, Corbion N.V, Galactic SA

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Overview and Scope
Food preservatives are chemicals or natural ingredients that are used to preserve food from any kind of spoilage and bacterial impact. Food preservatives can be toxic and non-toxic depending on the degree of toxicity they exert on food and are used in different food processing levels.

Sizing and Forecast
The food preservatives market size has grown steadily in recent years. It will grow from $2.81 billion in 2023 to $2.94 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to increased consumer demand for processed and convenience foods, need for food shelf-life extension and preservation, growth in the food and beverage industry globally, concerns about food safety and spoilage prevention, regulatory approval and safe usage of food preservatives, demand for natural and clean label food preservation solutions.

The food preservatives market size is expected to see steady growth in the next few years. It will grow to $3.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to adoption of plant-based and naturally derived preservatives, emphasis on eco-friendly and sustainable preservative ingredients, research and development in next-generation preservative technologies, demand for preservatives in organic and natural food products, expansion of preservative applications in meat and poultry processing, growing interest in combination preservative systems for enhanced efficacy. Major trends in the forecast period include natural antimicrobial extracts, antioxidant preservatives, plant-derived essential oils, combination preservative systems, emerging technologies like pulsed electric fields (pef), nanotechnology in food preservation.

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Segmentation & Regional Insights
The food preservatives market covered in this report is segmented –
1) By Type: Synthetic, Natural
2) By Function: Anti-Microbial, Anti-Oxidant, Chelating Agents, Enzyme Attackers
3) By Application: Beverages, Oils And Fats, Bakery, Dairy And Frozen Products, Snacks, Meat, Poultry, Confectionery, Other Applications

North America was the largest region in the food preservatives market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food preservatives market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The increasing consumption of ready-to-eat food owing to busy lifestyles is expected to propel the growth of the food preservatives market in the coming years. Ready-to-eat food uses various kinds of natural and artificial preservatives to minimize the chances of spoilage due to microbial reactions and boost food quality. The higher demand for processed or ready-to-eat food is due to the increasing working population that prefers to consume convenient food rather than cooking it at home. For instance, , in 2021, a survey by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), a non-governmental trade association and advocacy group, shows that about 79% of Indian households prefer to have instant food due to time constraints Therefore, the high consumption of ready-to-eat food drives the growth of the food preservatives market.

Key Industry Players
Major companies operating in the food preservatives market include Kerry Group, Dupont De Nemours Inc., Badische Anilin- und Sodafabrik SE, Cargill Incorporated, Celanese Corporation, Corbion N.V, Archer Daniels Midland Company, Galactic SA, Kemin Industries Inc., Koninklijke DSM NV, Tate & Lyle PLC, Brenntag Solutions Group Inc., Albemarle Corporation, Akzo Nobel NV, Univar Inc., Danisco A/S, Hawkin Watts Ltd., ABF Ingredients Ltd., Ajinomoto Co Inc., Jungbunzlauer Suisse AG, Grupo Bimbo SAB de CV, Hansen Holding A/S, Royal DSM NV, Naturex SA, DuPont Company, Emanuel Merck Darmstadt, Brenntag Inc., MAYASAN Food Industries AS, BTSA Biotecnologías Aplicadas SL, Siveele BV, Kalsec Inc.

The food preservatives market report table of contents includes:
1. Executive Summary