The report “Food Preservatives Market by Type (Natural, Synthetic), Application (Meat & Poultry & Seafood, Bakery, Confectionery, Snacks, Dairy & Frozen Products, Beverages, Fats & Oils), Functions, and by Region – Global Trends and Forecast to 2026″, The global food preservatives market is expected to grow from USD 3.3 billion in 2021 to USD 4.0 billion by 2026, at a CAGR of 4.1% from 2021 to 2026. The food preservatives market is dominated by North America and Asia-Pacific. North America is estimated to account for the maximum market share of the global food preservatives market due to advancements seen in the food industries. Consumers in North America are more health-conscious due to awareness and health campaigns run by various organizations. Increasing demand for convenience food products, extended shelf life, and multi-functionality of natural preservatives are driving the food preservatives market. Few restraints are natural preservatives replacing chemicals and high cost of natural preservatives.
Drivers: Increase in demand for food products with an extended shelf life
Increased work hours have distinctly changed consumer lifestyles, and consequently, their eating habits. These changes are demanding food products that provide convenient consumption and longer shelf life. Hence, the role of food preservatives is becoming increasingly important in the food & beverage industry. The growing demand for foods with extended shelf life has shown a high impact on the food processing industry. Overall, the well-proved storage efficacy, due to preservatives, has improved food delivery methods, competitive pricing, and added value to food products.
Health-conscious consumers demand organic products; due to this demand, manufacturers are inclined to using natural preservatives in food production. Manufacturers are hence producing natural preservatives such as rosemary extracts which are effective in preserving food items, along with adding flavor to them.
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The market for food preservatives application in meat, poultry, and seafood products is projected to account for the largest share during the forecast period
Preservatives for meat are required on a large scale; this is because the meat is very commonly consumed across the globe, and the consumption is high in major regions such as North America, Asia Pacific, Europe, and Latin America. The economy is rising in these regions, which has given consumers the opportunity to consume meat on a regular basis.
Decomposition of the meat sets in as soon as the blood ceases to pulse in the veins, thus making it preservation necessary until its consumption. The nature of preservation must be governed by circumstances such as the kind and quality of the meat to be preserved, time period, and climatic conditions, among other factors. While salt, vinegar, and alcohol are largely used as preservatives since ancient times, boric acid and borax, and solutions containing salicylic acid and sulfuric acid are experiencing increasing usage.
Asia Pacific is the fastest-growing market during the forecast period in the food preservatives market
Factors such as the large population and the growing demand for authentic ethnic flavors, the increasing popularity of convenience foods, and growing awareness of the medicinal properties of food preservatives are driving the North American market.
The Asia-Pacific food & beverages sector is greatly influenced by the consumer preference for healthy eating, the trend toward natural and organic foods, and the growing need for convenience food products. With emerging economies, growing industrialization, increasing demand for processed foods, and consumer preference for quality products, ingredient suppliers are becoming increasingly optimistic about the growth of the food & beverage industry. These trends and preferences have created a need for new additives in foods, despite the increasing awareness about the health hazards associated with synthetic food additives.
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Key players in this market include BASF SE (Germany), Kerry Group Plc (Ireland), Koninklijke DSM N.V. (Netherlands), Cargill, Incorporated (US), Kemin Industries, Inc. (US), IFF Nutrition & Biosciences (US), ADM (US). Tate & Lyle (UK), Lallemand Inc. (Canada), ITA 3 S.r.l (Italy), Foodchem International Corporation (China), Galactic (Belgium), Corbion (Netherlands), Celanese Corporation (US), and Jungbunzlauer Suisse AG (Switzerland). These players have focused on acquisitions to gain a larger market share in the food preservatives market.
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