Global food preservatives market revenue is expected to exceed USD 3.0 billion by 2022. The industry is also expected to grow at a CAGR of around 3.0% from 2015 to 2022. Developing need for high shelf-life food products is expected to drive the global demand over the forecast period.
Changing consumer preferences are impacting food and beverage processing industry. Customers are demanding for safe and hygienic food items which mean developments of such preservativess, which are capable of maintaining food quality for longer period of time without any harm.
The world is also witnessing growth in convenience products, such as frozen foods and ready-to-eat, mainly among corporate people and students. This factor is also expected to drive overall industry growth in future.
Meat and poultry markets also utilize natural preservativess for maintaining quality and increase product shelf-life. Continuous preservatives use in markets mainly in developed regions such as Europe and North America is expected to drive the global industry demand over the forecast period.
Food preservatives protects the products from deterioration by micro organisms for longer period of time, but reduces the freshness of items. Therefore, this factor is shifting demand towards organic and natural items, which is expected to restrain overall market growth in future.
The market is also expected to be restrained by huge costs of preservativess mainly natural, which are expensive in nature. Limited availability of sources for preservativess manufacturing is also expected to hinder the global industry demand in the future.
Global industry growth is also expected to be threatened by associated health problems such as breathing difficulties resulting into asthma. Other serious health issues are hyperactive behavior of children, cancer, and heart damage. Cancer is caused on account of presence of carcinogens while heart damage is a result of weakening of heart tissues owing to high preservatives consumption.
Global industry is also characterized by huge opportunities, which are expected to positively impact the demand in future. Changing consumer trend and lifestyle mainly in emerging countries such as India, China, Indonesia, Taiwan, Thailand, Vietnam, and South Korea are expected to boost the overall market over the forecast period.
The industry is segmented on the basis of application, type, and function. Application segment includes bakery, beverages, oils & fats, confectionery, dairy & frozen products, meat, poultry & seafood, and snack foods. Type segment includes synthetic and natural preservativess. Synthetic is further segmented into propionates, sorbates, benzoates, and others.
Propionates consist of sodium propionate (E281), propionic acid (E280), and calcium propionate (E282). Sorbates include potassium sorbate (E202) and sorbic acid (E200). Benzoates consist of sodium benzoate (E211) and benzoic acid (E210). Others segment is further segmented into sulfates and nitrites.
Sulfates segment consists of lactic acid (E270), sulfur dioxide (E220), sodium diacetate (E262), and acetic acid (E260). Natural segment includes onion, sugar, natamycin (E235), salt, nicin (E234), alcohol, rosemary extracts (E392), vinegar, edible oil, and honey.
On the basis of function, the market is segmented into antioxidants, antimicrobial, and other functions. North America was the leading region followed by Europe and Asia Pacific. North America industry was driven by the U.S. demand coupled with high natural preservativess need in poultry and meat markets.
Europe is expected to witness high growth of both natural and synthetic products. Synthetic products are already used in high number for extending shelf-life of items, while natural products are gaining importance and are expected to increase the overall demand owing to associated health benefits.
Asia Pacific is expected to show the highest growth over the forecast period on account of shift in consumer trend towards healthy and safe food mainly in emerging countries such as India, China, Indonesia, Taiwan, and Malaysia.
Major market players are Univar Inc., Hawkins Watts Limited, Cargill Inc., DSM N.V., Galactic, Danisco A/S, Kemin Industries Inc., AkzoNobel N.V., Tate & Lyle PLC, and Brenntag AG. The market is expected to experience threat of substitutes such as organic and natural foods, which is gaining importance owing to health benefits.
Avail customized purchase options to meet your research needs:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.