The global food preservatives market is worth US$ 2.97 Billion as of now and is expected to reach US$ 5.73 Billion by the year 2033 at a CAGR of 6.8% between 2023 and 2033.
Food preservatives are incorporated at the time of food processing for increasing stability and avoiding spoilage. They are being added in petite quantities to several kinds of foodstuff based on the requirement. Conventionally, spices, salt, and sugar are used for preserving meat and the other types of food. These preservatives do away with microorganisms and mitigate or atleast prolong spoilage of food. They are classified as moderately toxic and non-toxic. The former ones need approval of the US FDA and EFSA (European Food Safety Authority) and could be identified by approximate index (E or INS numbers).
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At the same time, the fact that there are health risks involved with synthetic preservatives can’t be ignored. This factor could restrain the food preservatives market in the near future. For instance – butylated hydroxyanisole (better known as BHA), comes across as an antioxidant preventing spoilage of high-fat foods, cereals, and oils. However, it has been observed that their excessive intake could result in tumors, chronic hives, and various other skin-related ailments.
Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Food Preservatives Market’. The line of expertise in the form of analysts and consultants is there to execute using a bottom-up approach in its primary, secondary, and tertiary modes of research.
“With demand for convenience food on the rise, the global food preservatives market is expected to grow on a stupendous note in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Food Preservatives Market
- North America holds more than 30% of the market share. This could be credited to an exorbitant rise in the intake of processed meat all through the US.
- Europe holds a significant market share with the food & beverages vertical being one of the largest revenue generators.
- The Asia-Pacific is expected to grow at the fastest rate in the food preservatives market due to regions like China and Japan being the major exporters of seafood products, meat products, dairy products, and beverages like soft drinks and spirits.
- LATAM and Central America are being led by Peru, Brazil, and Caribbean’s respectively and the scenario is expected to remain unchanged even going forward.
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Competitive Preservatives
- BASF SE, in September 2022, did release PA (propionic acid) along with NPG (neopentyl glycol) with zero CPF. The application areas are inclusive of economic and ecological advantages over preserving through storing or drying in the airtight silos.
- Cargill, in June 2022, entered into joint venture with Delacon for developing an excessive business for the plant-based phytogenic feed additives for enhanced animal nutrition.
- Kerry Group plc, in June 2021, did ink an agreement for parting with its business comprising ‘Consumer Foods’ Meats and Meals’. The entity was sold to Pilgrim’s Pride Corporation for close to US$ 890.76 Million.
- Conagen, Inc., in August 2021, came up with p-Coumaric Acid (PCA). It comes across as a clean-label and natural preservative prepared through fermentation.
- Jungbunzlauer Suisse AG, in April 2021, did expand citric plant based out of Port Colborne (Canada) due to sturdy demand for citrates and citric acid. These products are bio-based and functional ingredients in detergents, food, beverages, and various industrial applications.
- Corbion, in January 2021, did increase capacity of manufacturing lactic acid all across North America by close to 40% for meeting rising demand for natural ingredients in several industries.
- Tate & Lyle plc, in November 2021, did announce constructing a novel biomass boiler at acidulants plant based out of Santa Rosa (Brazil).
- Kemin Industries Inc., in April 2022, did expand the distribution agreement with DKSH (Diethelm Keller Siber Hegner) for including distribution of its products in Indonesia and Philippines.
What does the Report preserve?
- The research study is based on label (clean label and conventional), by type (synthetic and natural), by function (antimicrobial, antioxidants, and likewise), and by application (meat & poultry products, bakery products, dairy products, beverages, snacks, and likewise).
- With growing preference for ready-to-cook or ready-to-eat foodstuff, the global food preservatives market is expected to grow on a good note in the forecast period.
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Key Market Segmentation
By Label:
- Clean Label
- Conventional
By Type:
- Synthetic
- Natural
By Function:
- Antioxidants
- Antimicrobial
- Others
By Application:
- Meat & Poultry Products
- Bakery Products
- Dairy Products
- Beverages
- Snacks
- Others
Regions:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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