As per FMI, the global plant based preservatives market is forecast to grow from USD 3.1 Billion in 2022 to USD 5.8 Billion by 2032, with overall sales accelerating at a robust CAGR of 6.6% throughout the forecast period.
Rising preference for natural food preservatives over chemical preservatives is a key factor boosting sales of plant based preservatives in the global market and the trend is likely to continue during the forecast period.
Similarly, as consumers become more aware of health issues, the plant based preservatives market is likely to grow quicker in the future years. The increased use of a variety of plant-based preservatives in conjunction with other chemical preservatives in the food and beverage industry is likely to promote market growth in the next ten years.
In addition to this, rising trend for clean-label goods, which are basically devoid of additives, particularly synthetic versions, is likely to drive the growth of the global plant based preservatives market during the assessment period.
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Key Takeaways from Market Study
- Based on source, herbs and spices segment is anticipated to grow at a healthy pace during the forecast period.
- North America is expected to hold around 38% share in the global plant based preservatives market share.
- The U.S. currently holds 65% share of the North America plant based preservatives market and it is poised to grow swiftly over the next ten years.
- With high consumption of plant based ingredients, Europe is expected to hold around 31% share of the global plant based preservatives market during the forecast period.
- Asia is expected to account for 20% revenue share in the overall plant based preservatives market.
- Germany holds approximately 22% market share in the Europe plant based preservatives market.
“In the long run, the increased focus on plant based preservatives consumption in developed regions such as North America and Europe is projected to provide profitable opportunities for market participants. “, – says a lead analyst at Future Market Insights.
Competitive Landscape
Plant Based Preservatives have a strongly competitive global market. Introducing new product variations, acquiring smaller market competitors, and raising awareness about the advantages of plant-based preservatives through different promotional activities and programmes are some of the main strategies adopted by key players to gain a competitive edge in the market.
Some of the leading companies offering plant based preservatives include Hawkins Watt Limited, Univar, Inc, Archers Daniels Midland Company, Du Pant Nutrition & Health, Cargill Incorporated, Kemin Industries, Inc, Ajinomato Omnichem, and Tate & Lyle.
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Plant Based Preservatives Market by Category
By Function:
- Antimicrobial Plant Based Preservatives
- Antioxidants Plant Based Preservatives
- Plant Based Food Preservatives for Other Functions
By Source:
- Herbs and Spices
- Fruit Juices
By Application:
- Sea Food
- Meat & Poultry
- Bakery Products
- Dairy Products
- Snacks
- Beverages
- Fruits & Vegetables
- Other Applications
By Region:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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