Dublin, April 20, 2023 (GLOBE NEWSWIRE) -- The "Global Food Preservatives Market by Function (Antimicrobials, Antioxidants), Type (Synthetic Preservatives, Natural Preservatives), Application, and Region (North America, Europe, Asia-Pacific, Middle-East & Africa) - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global food preservatives market is estimated to be valued at USD 3.4 billion in 2023. It is projected to reach USD 3.9 billion by 2028, recording a CAGR of 3% during the forecast period.
Market is anticipated to grow due to increased demand for convenient processed food, especially in the emerging economies such as India, China, and ASEAN countries. High rates of rise in population, employment, and disposable incomes is generating a demand for food that is varied, easy to use, and is available all seasons.
These packaged processed food use variety of preservatives to keep intact flavor, freshness, and nutrient profile. These factors are driving the market for food preservatives.
Fats and Oils segment is projected to be the fastest growing segment by application during the forecast period
Fats and Oils segment is projected to have the highest CAGR of 4.7% during the forecast period. The high demand for natural antioxidants in vegetable oil preservation is expected to drive their demand. The snacks segment is the second fastest growing segment in the market by application owing to the rising preference for ultra-processed packaged food products.
The synthetic preservatives segment is projected to dominate the market by value in the type segment during the forecast period
Based on type, the synthetic preservatives segment is projected to dominate the food preservatives market during the forecast period. The dominance of synthetic preservatives segment can be attributed to their high popularity owing to their efficacy, cost-effectiveness, and easy availability in the global food preservatives market.
North America is projected to dominate the market and the Asia-Pacific is projected to be the fastest growing region during the forecast period
By region, North America is projected to dominate the market with the largest share. High popularity of R-T-E (Ready To Eat) and packaged food products coupled with high demand for clean ingredients, and presence of market leaders in the region is driving the market in North America. Fast growth in Asia-Pacific market is attributed to growing demand for processed food products and less stringent regulations for synthetic preservatives. Moreover macroeconomic factors such as fast growing economies, high population, rise in disposable incomes are creating lucrative opportunities for players in the industry.
Market Dynamics
Drivers
- Growing Demand for Food Products with an Extended Shelf Life
- Increasing Preference for Convenient Processed Food
- Rising Consumption of Meat Worldwide
Restraints
- Growing Demand for Organic Food
- Utilization of Preservation Techniques
Opportunities
- Clean-Label Trend Across Global Food Markets
Challenges
- Health Concerns Associated with Chemical Preservatives
- High Price and Limited Availability of Natural Preservatives
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 282 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $3.4 Billion |
| Forecasted Market Value (USD) by 2028 | $3.9 Billion |
| Compound Annual Growth Rate | 3.0% |
| Regions Covered | Global |
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Food Preservatives Market, by Type
7.1 Introduction
7.2 Synthetic Preservatives
7.2.1 Cost-Effectiveness and Easy Availability to Drive Market
7.2.2 Sorbates
7.2.2.1 Sorbic Acid (E200)
7.2.2.2 Potassium Sorbate (E202)
7.2.3 Benzoates
7.2.3.1 Benzoic Acid (E210)
7.2.3.2 Sodium Benzoate (E211)
7.2.4 Propionates
7.2.4.1 Propionic Acid (E280)
7.2.4.2 Sodium Propionate (E281)
7.2.4.3 Calcium Propionate (E282)
7.2.5 Others
7.2.5.1 Nitrites
7.2.5.2 Sulfates
7.2.5.2.1 Sulfur Dioxide (E220)
7.2.5.2.2 Acetic Acid (E260)
7.2.5.2.3 Sodium Diacetate (E262)
7.2.5.2.4 Lactic Acid (E270)
7.3 Natural Preservatives
7.3.1 High Consumer Awareness and Preference for Natural Food Ingredients to Drive Market
7.3.2 Sugar
7.3.3 Salt
7.3.4 Alcohol
7.3.5 Vinegar
7.3.6 Honey
7.3.7 Edible Oil
7.3.8 Rosemary Extracts (E392)
7.3.9 Nisin (E234)
7.3.10 Natamycin (E235)
7.3.11 Onions
8 Food Preservatives Market, by Application
8.1 Introduction
8.2 Meat, Poultry, and Seafood
8.2.1 Rising Consumption of Meat and Seafood Worldwide to Drive Market
8.3 Beverages
8.3.1 Rising Preference for Naturally Flavored Health Drinks to Increase Adoption of Benzoates and Sorbates
8.4 Confectionery
8.4.1 Increasing Demand for Aesthetic Food Products to Drive Market
8.5 Bakery Products
8.5.1 Increasing Adoption of Calcium & Sodium Propionates in Baking Goods to Support Market Growth
8.6 Snacks
8.6.1 Rising Preference for Convenient and Ultra-Processed Food Products to Fuel Market
8.7 Dairy and Frozen Products
8.7.1 Rising Consumption of Dairy Products to Support Market Growth
8.8 Fats and Oils
8.8.1 High Demand for Natural Antioxidants in Vegetable Oil Preservation to Fuel Market
8.9 Other Applications
9 Food Preservatives Market, by Function
9.1 Introduction
9.2 Antimicrobials
9.2.1 Rising Global Demand for Frozen Foods to Fuel Market
9.3 Antioxidants
9.3.1 Surge in Trade and Consumption of Meat to Drive Market
9.4 Other Functions
10 Food Preservatives Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Adjacent and Related Markets
14 Appendix
Companies Mentioned
- ADM
- Albemarle Corporation
- Arjuna Natural
- BASF SE
- Cargill, Incorporated
- Celanese Corporation
- Chihonbio Co. Ltd.
- Chinova Bioworks Inc.
- Corbion
- Desire Chemical Pvt. Ltd.
- DSM
- FBC Industries
- Fine Organics
- Foodchem International Corporation
- Galactic
- International Flavors & Fragrances Inc.
- Ita 3 S.R.L.
- Jungbunzlauer Suisse AG
- Kemin Industries, Inc.
- Kerry Group PLC
- Lallemand Inc.
- Lanxess
- Maysa Gida
- Prasan Solutions (India) Private Ltd.
- Tate & Lyle
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