Global Food Preservatives Market By Type (Natural Preservatives; Synthetic); Function (Antimicrobials; Antioxidants; Others); Application (Oils & Fats; Bakery; Dairy & Frozen Products; Snacks; Meat, Poultry & Seafood; Confectionary; Beverages; Others); Geography (North America; South America; Europe; Asia-Pacific; Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Food Preservatives Market
Global food preservatives market is expected to rise to an estimated value of USD 3.38 billion by 2026, registering a steady CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the growing trend of clean label food products globally along with growing preference for naturally sourced preservatives.
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Market Definition: Global Food Preservatives Market
Food preservatives are specialised chemical ingredients or extracts that are added to the food products during their production processing to restrict the growth of bacteria, microorganisms, and other harmful effects such as oxidisation. The addition of these substances improves the shelf life of the products and retains the freshness making them consumable for a longer period of time.
- Growing demand from the consumers to have food products that can be consumed for a longer period of time; this factor is expected to drive the growth of the market
- Changes in lifestyle and urbanisation of population has resulted in more individuals preferring convenience foods; this factor is expected to drive the growth of the market
- Growth of awareness associated with the usage of natural preservatives among incidences of side effects and people being affected from synthetic or chemical substances in food products; this factor is expected to drive the growth of the market
- Rise in adoption of organic food products that are free of any additives, preservatives and chemicals is expected to restrain the growth of the market
- Concerns associated with usage of synthetic preservatives and their methods in food processing is expected to restrain the growth of the market
- Lack of resources to produce and meet the growing demand for natural preservatives; this factor is expected to restrain the growth of the market
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Segmentation: Global Food Preservatives Market
- Natural Preservatives
- Edible Oil
- Rosemary Extracts (E392)
- Nicin (E234)
- Natamycin (E235)
- Sorbic Acid (E200)
- Potassium Sorbate (E202)
- Benzoic Acid (E210)
- Sodium Benzoate (E211)
- Propionic Acid (E280)
- Sodium Propionate (E281)
- Calcium Propionate (E282)
- Sulfur Dioxide (E220)
- Acetic Acid (E260)
- Sodium Diacetate (E262)
- Lactic Acid (E270)
- Oils & Fats
- Dairy & Frozen Products
- Meat, Poultry & Seafood
Key Developments in the Market:
In March 2019, Corbion announced that they had agreed to acquire Granotec do Brazil with the company a leader of bakery ingredients in the Brazil region. The acquisition has been agreed for an approximate amount of USD 45 million. Granotec will be integrated into Corbion’s Brazil operations and will establish a leading presence of the company in the region and enhance their capabilities in providing special ingredients to the bakery market.
In May 2018, Kemin Industries, Inc. announced the launch of a new natural preservative, the product termed as “NaturFORT RSGT” is a plant-based preservative designed to substitute the EDTA preservatives utilized in the market. The product is designed from the extracts of rosemary, green mint and green tea which exhibit extension of the shelf life of the natural food products such as dressings, salads.
Competitive Analysis: Global Food Preservatives Market
Global food preservatives market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of food preservatives market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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