Global Food Preservatives Market Overview:
Food Preservatives Market is valued at around USD 2,511.5 million in 2022 and is expected to reach USD 3,671.7 million by 2030, registering a CAGR of 3.4% over the forecast period.
Food preservation is the process of applying preservatives to food in order to prolong its shelf life by preventing or minimizing the degradation caused by bacteria, fungi, and other germs. Additionally, this process involves limiting the oxidation of lipids, which causes rancidity.
Food preservatives are chemicals added to food products to extend their shelf life by preventing oxidation, microbial growth, and spoiling. They ensure the safety and quality of food products by serving a variety of purposes in the business. In products like baked goods and canned goods, microorganism growth is inhibited by the use of antimicrobial preservatives. Antioxidants are frequently used in oils and snacks because they keep fats and oils from going rancid. While chelating agents balance out metal ions in meals that are canned, acidulates control the pH of drinks and sauces.
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Market Dynamics:
Rising Processed Food Demand
Consumer preferences for processed and convenience meals are growing, which is one of the major factors propelling the global market for food preservatives. The increased reliance on packaged and ready-to-eat meals as a result of busy lifestyles and urbanization has increased the need for food preservatives to ensure longer shelf lives and product safety. The processed food business is growing quickly in rising economies in Asia and Africa, where this tendency is most noticeable.
Shifting Consumer Preferences
More and more consumers are looking for natural and healthier food products. This has made it possible to manufacture and employ natural food preservatives like tocopherols and rosemary extract. More natural and sustainable preservative solutions are being developed by businesses in response to consumer demand for clean-label products and ingredient transparency in food.
Global Food Supply Chain Globalization
The demand for efficient food preservatives has increased due to the expansion of worldwide trade and the globalization of food supply chains. Preservatives aid in preserving the safety and quality of goods while they are being stored and transported. Food preservatives are particularly important for minimizing food waste and maintaining product integrity when perishable food items are carried over extended distances.
Market Opportunities:
Growing Awareness of Health
There is a developing market for food preservatives with health benefits beyond shelf life extension as customers become more health-conscious. For instance, adding probiotics and prebiotics as natural preservatives may appeal to consumers looking for functional meals who are health-conscious.
Natural Preservatives and Clean Label Products
Companies have an opportunity to create and market food preservatives that satisfy consumer desires for natural and clean-label products. This includes all-natural substitutes that can be used in a variety of food products as clean-label preservatives, such as vinegar, citrus extracts, and chemicals derived from plants.
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Leading Companies Involved in this Market are:
- Albemarle Corporation
- Archer Daniels Midland Company
- BASF SE
- Cargill Incorporated
- Celanese Corporation
- Corbin N.V.
- DuPont De Nemours Inc.
- Galactic S.A.
- Kemon Industries Inc.
- and Tate & Lyle PLC.
- and others.
Geographically Analysis of this Report:
North America led the global Food Preservatives Market, capturing over 30.0% of the total revenue share in 2021. The market in North America was driven by increased utilization of the product across various applications in the United States, Canada, and Mexico. The growth is expected to be further supported by well-established bakeries and an uptick in processed meat consumption in the region.
Market Segmentations:
On the basis of label, the Food Preservatives Market is bifurcated into:
- Clean label
- Conventional
- Others
On the basis of type, the market is segmented into:
- Natural- edible oil, rosemary extracts, kanamycin, vinegar, chitosan
- Synthetic- propionates, sorbates, benzoates
- Others
On the basis of function, the market is segmented into:
- Anti-microbial
- Anti-oxidant
- Others
On the basis of application, the market is segmented into:
- Meat and poultry products
- Bakery products
- Dairy products
- Beverages
- Snacks
- Others
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