According to the report, the global food preservatives market accounted for USD 2,306 million in 2018 and is expected to reach USD 2,846 million by 2026, at a CAGR of around 2.7% between 2019 and 2026.
New York, NY, July 03, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Food Preservatives Market by Type (Natural and Synthetic), by Function (Anti-Microbial and Anti-Oxidant), and by Application (Meat, Poultry and Seafood, Beverages, Dairy & Frozen, Bakery, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026”. According to the report, the global food preservatives market accounted for USD 2,306 million in 2018 and is expected to reach USD 2,846 million by 2026, at a CAGR of around 2.7% between 2019 and 2026.
Food preservatives are chemical compounds that are added in small quantities to various kinds of food items to inhibit or delay their expiry. Salt, sugar, and spices were used to preserve meat and other types of foods traditionally. The need for preservatives is propelling the demand for food additives and ingredients that restrict the development of fungi, bacteria, and other microorganisms. This is the primary growth driver of the global food preservatives market. These preservatives help extend the shelf life and protect the natural characteristics of food items. Due to hectic lifestyle patterns, people tend to opt for convenience foods. The growing consumer preference globally for ready-to-eat foods or convenience foods is fueling the global food preservatives market.
Browse through 54 Tables & 26 Figures spread over 110 Pages and in-depth TOC on “Global Food Preservatives Market Size & Share 2018 Report: By Industry Type, Segments, Applications, Analysis and Forecast till 2026”.
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Based on type, the food preservatives market is segmented into natural and synthetic. Natural preservatives are naturally occurring with good preserving qualities, such as salt, sugar, alcohol, and vinegar, which are used in making juices, jams, and pickles. They don’t cause any health-related problems and help retain the purity of food items for a shorter duration of time as compared to synthetic preservatives. Sulfites, benzoates, sorbates, and propionates are some common types of synthetic preservatives, which are used for the food preservation process.
On the basis of function, the food preservatives market includes anti-microbial and anti-oxidant. Globally, the food preservatives market is dominated by anti-microbial, followed by antioxidant preservatives. Benzoates, sorbates, and other chemicals are a few key examples of anti-microbial preservatives and sulfites are used as anti-microbial agents in brewing applications In order to prevent microbial spoilage of food products by microorganisms, the demand for food preservatives with anti-microbial action is high. Sorbic acid is one of the most commonly used preservatives with antimicrobial action.
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By application, the food preservatives market includes meat, poultry and seafood, beverages, dairy and frozen, bakery, and others. Meat, poultry, and seafood products held the largest share of food preservatives market in 2018. Preservatives are added to meat, fish, and beef to eliminate toxins and preserve them for a longer time. The dairy and frozen food segment are anticipated to be the fastest growing over the forecast time period.
North America is currently dominating the global food preservatives market, particularly in synthetic food preservatives usage. The regional market is led by the U.S., Canada, and Mexico. Hectic lifestyles have surged the demand for processed food with longer shelf life, which is driving the North American food preservatives market. To increase their market share, companies are experimenting with new technologies, partnerships and product launches, among other strategies, which are anticipated to fuel the food preservatives market growth in this region. For instance, Corbion N.V. uses vinegar and jasmine extracts as anti-oxidants and citrus powder to restrict moisture growth in its products.
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The European food preservatives market is anticipated to witness significant growth in the future. Meat, poultry, and dairy products are high in demand in the UK, France, and Italy, as they help in the preservation of perishable food items. People in these countries prefer ready-to-eat food, as it eliminates the burden of preparing food from scratch. As food preservatives are commonly used in ready-to-eat foods, a rise in the growth of food preservatives market in this region is anticipated over the forecast timeline.
The Asia Pacific food preservatives market is led by China, South Korea, India, and Japan and the region is anticipated to witness the fastest market growth in the years ahead. This regional growth can be attributed to the increasing population and swift globalization. The Asia Pacific is the most attractive region for manufacturers, due to the growing consumption of processed meat, confectionery items, bakery products, beverages, poultry, and seafood. Positive economic growth in this region is also expected to drive the demand for packaged foods, which, in turn, is anticipated to propel this regional market.
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The Latin American food preservatives market is expected to witness promising growth over the forecast time period, owing to the increasing demand for convenience and packaged foods, due to the adoption of western lifestyles.
The Middle East and Africa is expected to show slow market growth over the estimated timeframe, as the regional population has low awareness about processed food products and food preservatives. Global companies are trying hard to spread awareness to expand their customer base in the relatively untapped markets, which is predicted to create more suitable conditions for the food preservatives market growth in the upcoming years.
Some key players operating in the global food preservatives market are Kerry Group, Archer Daniels Midland, Cargill, ABF Ingredients, Ajinomoto, Albemarle Corporation, Brenntag, Celanese Corporation, Edlong Flavors, and Purac Biochem.
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This report segments the global food preservatives market into:
Global Food Preservatives Market: Type Analysis
Global Food Preservatives Market: Function Analysis
Global Food Preservatives Market: Application Analysis
Global Food Preservatives Market: Regional Analysis
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