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Food Preservatives Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2024-2032

Published Date: April, 2024
Base Year: 2023
Delivery Format: PDF+ Excel
Historical Year: 2017-2023
No of Pages: 263
Forecast Year: 2024-2032
SKU bcf72e85cbc1 Category

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The global food preservatives market has been witnessing steady growth in recent years due to the growing demand for convenience foods, changing food habits, and increasing food safety concerns. Food preservatives are substances that are added to food products to prevent spoilage, increase shelf life, and maintain the nutritional value of food. They are used in various food products, such as baked goods, beverages, dairy products, meat, and poultry. The global food preservatives market was valued at USD 2.8 billion in 2020 and is expected to reach USD 3.8 billion by 2026, growing at a CAGR of 4.8% during the forecast period (2021-2026).

Food preservatives are chemical compounds that are added to food products to prevent or delay spoilage caused by microbial growth, oxidation, or enzymatic reactions. They help in preserving the color, texture, flavor, and nutritional value of food products. Some common food preservatives include salt, sugar, vinegar, citric acid, sodium benzoate, potassium sorbate, and calcium propionate.

Executive Summary

The global food preservatives market is expected to witness significant growth in the coming years due to the increasing demand for packaged and processed food products, rising health awareness, and changing consumer preferences. The market is characterized by the presence of a large number of players, with major players focusing on product innovation and development, mergers and acquisitions, and expansion strategies to gain a competitive edge in the market.

Food Preservatives Market

Key Market Insights

  • The global food preservatives market was valued at USD 2.8 billion in 2020 and is expected to reach USD 3.8 billion by 2026, growing at a CAGR of 4.8% during the forecast period (2021-2026).
  • The demand for natural food preservatives is increasing due to growing health awareness and the trend towards clean label products.
  • Asia-Pacific is expected to dominate the food preservatives market during the forecast period due to the growing demand for processed food products and increasing population in the region.
  • Key players operating in the food preservatives market include Cargill, Inc., Koninklijke DSM N.V., Kerry Group plc, BASF SE, and Archer Daniels Midland Company.

Market Drivers

  • Growing demand for convenience food products
  • Increasing food safety concerns
  • Rising health awareness and changing consumer preferences
  • Growing demand for natural food preservatives
  • Increasing demand for packaged and processed food products

Market Restraints

  • Stringent government regulations regarding the use of food preservatives
  • Growing concerns about the safety and health effects of synthetic food preservatives
  • Limited shelf life of some food preservatives

Market Opportunities

  • Increasing demand for organic and clean label food products
  • Growing demand for natural and plant-based food preservatives
  • Rising demand for functional food products

Market Dynamics

The food preservatives market is highly competitive, with a large number of players operating in the market. The market is characterized by the presence of several large, medium, and small-scale players, with major players focusing on product innovation and development, mergers and acquisitions, and expansion strategies to gain a competitive edge in the market. The demand for natural food preservatives is increasing due to growing health awareness and the trend towards clean label products. The increasing demand for packaged and processed food products is also expected to drive the market growth during the forecast period.

Regional Analysis

The global food preservatives market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia-Pacific is expected to dominate the food preservatives market during the forecast period due to the growing demand for processed food products and increasing population in the region. North America and Europe are also significant markets due to the growing demand for natural food preservatives and the trend towards clean label products.

Competitive Landscape

The food preservatives market is highly competitive, with a large number of players operating in the market. Key players operating in the market include Cargill, Inc., Koninklijke DSM N.V., Kerry Group plc, BASF SE, and Archer Daniels Midland Company. These players focus on product innovation and development, mergers and acquisitions, and expansion strategies to gain a competitive edge in the market. For instance, in 2020, BASF SE launched a new natural preservative solution for meat products to cater to the growing demand for clean label products.

Segmentation

The global food preservatives market is segmented by type, function, application, and region.

  • By type, the market is segmented into natural and synthetic preservatives.
  • By function, the market is segmented into antimicrobial, antioxidants, and others.
  • By application, the market is segmented into bakery, dairy products, meat, poultry, and seafood, beverages, and others.
  • By region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

Category-wise Insights

  • Antimicrobial preservatives are expected to dominate the food preservatives market during the forecast period due to the growing demand for packaged and processed food products.
  • Bakery products are the largest application segment in the food preservatives market due to the increasing demand for baked goods and rising health concerns among consumers.

Key Benefits for Industry Participants and Stakeholders

  • The food preservatives market offers significant growth opportunities for industry participants and stakeholders due to the increasing demand for packaged and processed food products, rising health awareness, and changing consumer preferences.
  • The growing demand for natural and organic food preservatives is expected to drive the market growth during the forecast period.
  • The increasing demand for functional food products is also expected to create lucrative opportunities for industry participants and stakeholders in the food preservatives market.

SWOT Analysis

Strengths

  • Growing demand for packaged and processed food products
  • Increasing food safety concerns
  • Rising health awareness and changing consumer preferences
  • Growing demand for natural and organic food preservatives

Weaknesses

  • Stringent government regulations regarding the use of food preservatives
  • Growing concerns about the safety and health effects of synthetic food preservatives
  • Limited shelf life of some food preservatives

Opportunities

  • Increasing demand for organic and clean label food products
  • Growing demand for natural and plant-based food preservatives
  • Rising demand for functional food products

Threats

  • Intense competition among players in the food preservatives market
  • Fluctuations in raw material prices
  • Growing demand for alternative food preservation technologies

Market Key Trends

  • Growing demand for natural food preservatives
  • Increasing demand for clean label and organic food products
  • Rising demand for functional food products
  • Growing popularity of plant-based food preservatives

Covid-19 Impact

The Covid-19 pandemic has had a significant impact on the food preservatives market, with the market witnessing a decline in demand due to the disruption in the supply chain and the closure of food processing plants. However, the market is expected to recover in the coming years due to the increasing demand for packaged and processed food products and the growing awareness about food safety and hygiene.

Key Industry Developments

  • In 2020, DuPont launched a new clean label antimicrobial solution for bakery products to cater to the growing demand for natural and clean label food preservatives.
  • In 2020, Cargill, Inc. launched a new plant-based food preservative solution to cater to the growing demand for natural and sustainable food products.
  • In 2021, Kerry Group plc announced the acquisition of Biosearch Life, a Spanish biotechnology company that specializes in the development of natural ingredients and products.

Analyst Suggestions

Industry analysts suggest that the food preservatives market is expected to witness significant growth in the coming years due to the increasing demand for packaged and processed food products, rising health awareness, and changing consumer preferences. The market is expected to witness significant opportunities for natural and plant-based food preservatives due to the growing demand for clean label and organic food products. Industry participants and stakeholders are advised to focus on product innovation and development, mergers and acquisitions, and expansion strategies to gain a competitive edge in the market.

Future Outlook

The global food preservatives market is expected to witness significant growth in the coming years due to the increasing demand for packaged and processed food products, rising health awareness, and changing consumer preferences. The market is expected to witness significant opportunities for natural and plant-based food preservatives due to the growing demand for clean label and organic food products. The increasing demand for functional food products is also expected to create lucrative opportunities for industry participants and stakeholders in the food preservatives market. However, the market is also expected to face challenges due to the stringent government regulations regarding the use of food preservatives and growing concerns about the safety and health effects of synthetic food preservatives.

Conclusion

The global food preservatives market is expected to witness steady growth in the coming years due to the increasing demand for packaged and processed food products, rising health awareness, and changing consumer preferences. The market is highly competitive, with a large number of players operating in the market. Industry participants and stakeholders are advised to focus on product innovation and development, mergers and acquisitions, and expansion strategies to gain a competitive edge in the market.

The increasing demand for natural and plant-based food preservatives is expected to drive the market growth during the forecast period. However, the market is also expected to face challenges due to the stringent government regulations regarding the use of food preservatives and growing concerns about the safety and health effects of synthetic food preservatives.

Food Preservatives Market:

Segmentation Details
Type Natural Preservatives, Synthetic Preservatives
Function Antimicrobial, Antioxidant, Others
Application Bakery & Confectionery, Beverages, Dairy & Frozen Products, Meat, Poultry & Seafood, Others
Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Leading Companies in the Food Preservatives Market:

  1. Cargill, Incorporated
  2. Kerry Group plc
  3. Koninklijke DSM N.V.
  4. BASF SE
  5. DuPont de Nemours, Inc.
  6. ADM
  7. Tate & Lyle PLC
  8. Corbion N.V.
  9. Kemin Industries, Inc.
  10. Galactic S.A.

North America
o US
o Canada
o Mexico

Europe
o Germany
o Italy
o France
o UK
o Spain
o Denmark
o Sweden
o Austria
o Belgium
o Finland
o Turkey
o Poland
o Russia
o Greece
o Switzerland
o Netherlands
o Norway
o Portugal
o Rest of Europe

Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
o Malaysia
o Kazakhstan
o Taiwan
o Vietnam
o Thailand
o Philippines
o Singapore
o Australia
o New Zealand
o Rest of Asia Pacific

South America
o Brazil
o Argentina
o Colombia
o Chile
o Peru
o Rest of South America

The Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Israel
o Kuwait
o Oman
o North Africa
o West Africa
o Rest of MEA

Important Questions Covered in this Study

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