Antimicrobial preservatives are chemicals which are used in products to prevent the growth of microbes or microorganisms such as yeast, molds and bacteria. These are largely used in numerous products such as pharmaceuticals, food products, and cosmetics. The demand for antimicrobial preservatives is forecasted to on account increasing demand for packaged food products around the world.
The growing population around the world has resulted in increased demand for food and medicines around the world. The rising urbanization has positively influenced the demand for packaged and ready to eat foods, which is triggering the demand for antimicrobial preservatives in the market. These are used to increase the shelf life of consumer products.
However, the various preservation techniques such as vacuum packaging, pasteurization, and irradiation which are hampering the growth of antimicrobial preservatives in the market. These techniques are applied in packaging and storing methods to avoid usage of any chemical additives to the consumer products. The increasing adaption of these techniques could hamper the growth of the product over the coming years.
On the basis of type, the market is segmented into Benzoic Acid. Sorbic Acid, Sulfur Dioxide, Propionic Acid, Nitrates and others. The sorbic acid segment is expected to grow significantly over the forecast period. Based on application, the market is segmented includes pharmaceuticals, food and others.
The North America region accounted for the highest revenue share, as the demand for packaged food is higher in the developed countries such as U.S. and Canada. Whereas, the growing population in the developing countries in Asia Pacific and Central & South America such as China, India, South Korea, Brazil and Argentina is expected to register a significant growth over the forecast period.
Some of the major players operating in the antimicrobial preservatives include Albemarle Corp., BASF SE, Celanese Corporation, Archer Daniels Midland Company, The Dow Chemical Co. and Brenntag. The growing opportunities in the market is to create an intensive competition amongst the market players for major revenue share over the coming years. Some the larger players are heavily investing in research & development activities in order to beat competition and strengthen their position in the antimicrobial preservation market.
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