The global food preservatives market was valued at US$ 3.3 billion in 2022 and is poised to grow from US$ 3.4 billion in 2023 to US$ 3.9 billion by 2028, growing at a CAGR of 3.0% in the forecast period (2023–2028). Food preservatives are substances added to food products to extend their shelf life and prevent spoilage. They work by inhibiting the growth of bacteria, fungi, yeasts, and other microorganisms that can cause foodborne illnesses or degradation. Preservatives are commonly used in processed and packaged foods, as well as in some homemade and commercially produced items. The food preservatives industry is experiencing growth due to the increasing demand for processed foods, higher meat consumption, and the need for products with longer shelf lives. Innovations in natural preservatives are also contributing to industry growth, driven by the demand for clean-label ingredients in the European and North American markets.
Food Preservatives Market Drivers: Growing demand for food products with an extended shelf life
With the increasing trend of urbanization and global employment, consumer lifestyles and eating habits have undergone significant changes. As a result, there is a growing demand for food products that are easy to prepare, convenient to consume, and have extended shelf lives. Food preservatives are essential in prolonging the shelf life of food while maintaining its freshness. Consequently, the demand for food preservatives has surged in the food and beverage industry, as they offer manufacturers benefits in terms of efficient storage and cost-effectiveness. Additionally, the post-COVID-19 era has seen a rise in health consciousness, which has boosted the popularity of natural preservatives like citric acid and rosemary extracts, further driving the growth of the overall market.
By function, antimicrobials are anticipated to dominate the market during the forecast period.
The market is categorized by function into antimicrobials, antioxidants, and other functions. Antimicrobials are expected to lead the market throughout the forecast period. The increasing demand for frozen food products is a key factor. Packaged foods, when stored for extended periods, are highly susceptible to microbial spoilage due to variations in temperature, moisture, and pH levels. The use of antimicrobials, including nitrites, nitrates, and sulfur dioxide, helps prevent food degradation. This is driving the dominance of antimicrobials in the food preservatives market.
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North America is projected to be the largest region in the food preservatives market, in 2022; it is anticipated to grow at a significant CAGR
North America has always been a prime market for the processed food industry due to its high consumption of packaged and ready-to-eat foods. Additionally, it is one of the largest exporters of meat and meat products. These food items require the use of food preservatives to ensure longer shelf life. Consequently, the demand for food preservatives in the region is significant, driven by the high demand for meat exports and processed foods. Furthermore, North America boasts a well-established food and beverage industry, with major players like PepsiCo (US), McCain Foods Limited (Canada), and Tyson Foods (US) leading the market.
Top Companies in the Food Preservatives Market
The key players in this market include Cargill, Incorporated (US), Kerry Group plc (Ireland), ADM (US), DSM (Netherlands), and, Kemin Industries Inc. (US).
Cargill, Incorporated (US)
Cargill, Incorporated (US) is one of the leading food preservative companies across the globe. The company’s key business segments consists of specialty food ingredients & applications and bulk ingredients. Preservatives are provided through the Food & Beverage ingredients business segment. The business provides a variety of acidulants used as preservatives in the food and beverage industry. The company adopts various growth strategies and strongly focuses on research and development. The company’s research & development centers are located in Europe and North America, and it provides services in Africa, Europe, Asia, Latin America, North America, and the Middle East.
DSM (Netherlands)
DSM (Netherlands) is a multinational corporation engaged in the production of nutritional and pharmaceutical ingredients and industrial chemicals. The company has four major segments: Animal Nutrition and Health, Health, Nutrition and Care, Food & Beverage, and Others. The company has its major focus on its R&D activities. It has its global presence in North America, Europe, Asia Pacific, South America and the Middle East.
ADM (US)
ADM (US) provides preservatives under its human nutrition segment, which is a subsegment of Nutrition. It operates through four major segments: Agricultural Services, Oilseeds, Carbohydrate Solutions, and Nutrition. It operates through processing and manufacturing facilities across the US and worldwide its presence in around 190 countries and is globally present in Europe, Asia Pacific, South America, Middle East and North America.
Kerry Group plc (Ireland)
Kerry Group plc (Ireland) is a prominent producer of food ingredients and flavors. The company manufactures and markets food ingredients and flavors for the food, beverage, and pharmaceutical industries. It majorly operates through two business segments: Taste & Nutrition and Consumer Foods. It It places a heavy emphasis on R&D, with over 1,000 R&D scientists working toward innovations.Kerry supplies its products in around 150 countries across Europe, the Middle East, Africa (EMEA), the Americas, and Asia Pacific and has 149 manufacturing facilities in 31 countries.
Key Questions Addressed by the Food Preservatives Market Report:
How big is the food preservatives market?
Which players are involved in the manufacturing of food preservatives market?
What is the future growth potential of food preservatives market?
What are the different types of food preservatives?
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