The global food preservatives market is estimated at US$ 3.04 Billion in 2021, according to the Global Food Preservatives Market Report, by Source (Natural and Synthetic), By Functionality (Anti-Oxidants and Anti-Microbial), By Application (Dairy Products, Meat, Poultry and Sea Food, Bakery, Beverages, and Confectionery), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
The global food preservatives market was valued at US$ 3.04 Billion in 2021. To preserve food safety and reduce quality loss due to microbiological, physical-chemical, or enzymatic reactions, preservatives are used. Antimicrobial and antioxidant drugs come in a variety of forms, each with its own mode of action. The growing population and increasing prevalence of foodborne diseases are expected to boost the market growth, as preservatives are used in food to increase shelf life and maintain optimal quality of food. Food and beverages are stored after the addition of food preservatives to reduce the possibilities of bacterial contamination.
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Browse 33 market data tables* and 24 figures* on "Global Food Preservatives Market” - Forecast to 2030.
Key Trends and Analysis of the Global Food Preservatives Market:
- The meat, poultry & sea food segment held a dominant position in the global food s market, and the trend is expected to continue during the forecast period. The demand for protein food and organized retail is expected to drive the global food preservatives market growth. Moreover, changing demography and increasing disposable income, especially in Latin America and Asia Pacific, coupled with innovation in meat processing technology are expected to fuel the global food preservatives market growth.
- . Compounds such as calcium propionate and sorbic acid, which are utilized in baked goods, salad dressings, cheese, margarines, and pickled foods, are examples of antimicrobial agents. Antimicrobials are also used as preservatives in the food sector to extend shelf life, improve product safety, preserve product quality, lower processing costs, and improve the capacity to distribute products globally in complex supply chains. Synthetic antimicrobials are losing market share to natural antimicrobials, owing to customer concerns over the usage of synthetic chemicals.
- In emerging economies where lifestyles are constantly changing, demand from workplaces and residences is expanding at a competitive rate, resulting in a greater preference for convenience. As consumers seek quick and easy yet nutritious solutions, clean label products will become increasingly popular among parents for their children. The absence of artificial preservatives and the simplicity of ingredients may have a favorable impact on the freshness and portability of children's food. Identifying substances with the high nutritional value could be a lucrative opportunity for of preservatives market.
Key Takeaways of the Global Food Preservatives Market:
- Europe held the dominant market share of in 2021 in the global food preservatives market. The growing number of manufacturers and suppliers of food and beverages and FMCG food products in is expected to boost the demand for food preservatives. The European food preservatives industry is being driven by factors such as the vast population and growing demand for authentic ethnic flavors, increasing popularity of convenience meals, and greater knowledge of the medical qualities of food preservatives.
- Asia Pacific is the fastest growing region in global food preservatives market, owing to the presence of emerging economies such as China, India, and Indonesia. Consumer preferences for healthy eating, the move toward natural and organic foods, and the growing need for convenience food products all have an impact on the Asia Pacific food and beverage industry. Despite growing awareness of the health risks associated with synthetic food additives, these trends have produced a need for additional chemicals in foods.
- Major players operating in the global food preservatives market include BASF SE, Kerry Group Plc, Kemin Industries, Inc., DuPont Nutrition & Biosciences, ADM, Foodchem International Corporation, Corbion, Celanese Corporation, and Jungbunzlauer Suisse AG
- Technology launches, mergers & acquisitions, expansion, and research & development activities are key strategies adopted by players in the global food preservatives market. For instance, in July 2021, , a Dutch multinational corporation had announced the addition of additional phage-resistant culture rotations to its Dairy Safe cheese bio preservation portfolio. Cheesemakers can benefit from an even more robust culture rotation system with the new cultures, assuring reliable and consistent cheese production as well as effective phage management.
Global Food Preservatives Market - Impact of Coronavirus (COVID-19) Pandemic
- During the pandemic, the baking industry grew quickly, and shoppers' preference for ready-to-eat meals in supermarkets boosted the demand for food preservatives. Manufacturers are currently focusing on a number of plant-based food preservative introductions in order to suit the baking industry's growing demand and innate needs. During the pandemic, bakery, frozen meals, snacks, and other application sectors received increased demand. Furthermore, there has been a surge in customer demand for ready-to-eat (RTE) meals, which has provided equal opportunity for food preservative makers in recent years.