The global food preservatives market size reached US$ 2.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2028, exhibiting a growth rate (CAGR) of 4.4% during 2023-2028.
Food preservatives are chemical substances added to processed food and beverages to inhibit the growth of harmful microorganisms and the oxidation of constituents. They help prevent deterioration, spoilage and contamination, extend the shelf life of foodstuffs, reduce wastage, ensure safety, and enhance supply. Some of the commonly utilized preservatives include sugar, salt, nitrites, vinegar, citric acid, calcium propionate, butylated hydroxyanisole (BHA), butylated hydroxyl toluene (BHT), and tert-butyl hydroquinone (TBHQ). At present, the utilization of food preservatives is generally regulated and monitored by the governing authorities of different countries.
The growing focus on maintaining health and hygiene standards is shifting consumer preferences toward hygienically packaged and fortified food products. This acts as a major factor escalating the demand for food preservatives in processed items like crackers, cereals, bread, snacks, cheese, yogurt, deli meats, sauces, and soups around the world. Moreover, rapid urbanization, busy lifestyles, rising per capita incomes, and the increasing trend of nuclear families are promoting the consumption of ready-to-eat (RTE) food items that require minimal preparation and cooking time. Apart from this, the rising health consciousness among individuals is driving the demand for organic preservatives and clean label ingredients. They are non-toxic, soluble, and economical and help retain the natural color, flavor and texture of the food. They also delay rancidity, improve appearance, and maintain the nutritional quality and freshness of products. Additionally, their demand is anticipated to rise as gelling agents and flavor enhancers in beverages and confectionary items across the globe.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global food preservatives market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, function and application.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Albemarle Corporation, Archer Daniels Midland Company, BASF SE, Cargill Incorporated, Celanese Corporation, Corbion N.V., Dupont De Nemours Inc., Galactic S.A., Jungbunzlauer Suisse AG, Kemin Industries Inc., Koninklijke DSM N.V. and Tate & Lyle PLC.
Base Year of the Analysis
Type, Function, Application, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Albemarle Corporation, Archer Daniels Midland Company, BASF SE, Cargill Incorporated, Celanese Corporation, Corbion N.V., Dupont De Nemours Inc., Galactic S.A., Jungbunzlauer Suisse AG, Kemin Industries Inc., Koninklijke DSM N.V. and Tate & Lyle PLC
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Key Questions Answered in This Report
The global food preservatives market was valued at US$ 2.9 Billion in 2022.
We expect the global food preservatives market to exhibit a CAGR of 4.4% during 2023-2028.
The increasing demand for organic preservatives among the health-conscious consumers to maintain the nutritional quality and freshness of processed food products with longer self-life is primarily driving the global food preservatives market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary closure of numerous manufacturing units for food preservatives.
Based on the type, the global food preservatives market can be segmented into natural and synthetic. Currently, synthetic holds the majority of the total market share.
Based on the function, the global food preservatives market has been divided into anti-microbial, anti-oxidant, and others. Among these, anti-microbial currently exhibits a clear dominance in the market.
Based on the application, the global food preservatives market can be categorized into meat and poultry, bakery, dairy, beverages, snacks, and others. Currently, meat and poultry accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global food preservatives market include Albemarle Corporation, Archer Daniels Midland Company, BASF SE, Cargill Incorporated, Celanese Corporation, Corbion N.V., Dupont De Nemours Inc., Galactic S.A., Jungbunzlauer Suisse AG, Kemin Industries Inc., Koninklijke DSM N.V., and Tate & Lyle PLC.
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