According to the latest report by IMARC Group, titled “Food Preservatives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,”the global food preservatives market witnessed steady growth during 2015-2020.Food preservatives are defined as the specialized chemical ingredients or extracts added to the food products during their production to protect them from bacteria, microorganisms, spoilage and contamination. The addition of these substances helpsin improving the shelf life and retains the nutritional valueof the food. Preservatives are also used to prevent changes in color, taste, or texture and delay the oxidization process in food.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Food Preservatives Market Trends:
The escalating demand for convenient and ready to eat (RTE) food items across the globe represents one of the key factors driving the food preservatives market growth. This can be attributed to busy lifestyles led by the majority of the working population. Moreover, due to rising health awareness, consumers are choosing food items that have clean label ingredients and longer shelf life. This, in turn, is driving the demand for natural food preservatives to keep the food free from artificial chemicals, which is acting as another significant growth-inducing factor. The market is further driven by the growing awareness regarding hygienicallypacked food products. Other factors, such as the rising demand forflavor enhancers in the bakery sector and the increasing consumer expenditure capacities, are creating a positive outlook for the market further.Looking forward, the market is expected to exhibit a CAGR of around 4% during 2021-2026.
- On the basis of the type, the market has been bifurcated into natural and synthetic preservatives.
- According to the application, the market has been classified into meat and poultry, bakery, dairy, beverages, snacks and others.
- On the basis of the function, the market has been classified into anti-microbial, antioxidant and others.
- On a regional basis, the market has been spread across North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some 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.
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