Categories: Food & Beverages
Format :
Food Preservatives Market Snapshot
“The Food Preservatives Market is estimated to increase at a CAGR 4.3% from $ 103.25 Billion in 2023 to $ 124 Billion by 2030.”
Food preservatives are chemicals that prevent food from deteriorating due to microbiological development. Food preservatives extend food's shelf life and aid in limiting bacterial development.
Sodium benzoate, sugar, vegetable oil, and table salt are the most commonly used food preservatives. Salt is a common ingredient in meats and vegetables that serves to inhibit the growth of microorganisms. Propanoic and sorbic acid salts are also used as preservatives.
Preservatives are essential food additives that extend food's shelf life and enhance its flavor. They play an antibacterial role, protecting food from harmful microorganisms like bacteria, yeast, and molds that can cause food poisoning and botulism.
High-risk foods like meat, shellfish, dairy, and cheese often require preservatives to maintain food safety due to their growing presence in these environments.
Preservatives in food additives are essential for food safety and variety, preventing spoilage and altering flavor or appearance. They are subject to strict regulations globally and in Europe for their evaluation and use in food products.
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Key Benefits
Segment Analysis
Clean label foods are becoming increasingly important due to the increasing demand for natural food preservatives like antioxidants and antimicrobials. Consumers' growing health consciousness has led to a preference for clean label products over artificial ones.
Global customers have high standards for clean-label ingredients, particularly in meat and poultry. The need for natural food preservatives is driving consumers back to ingredients deeper down the value chain.
Food preservative producers have modified their production processes to create clean-label additives, which are used in various food products and applications. This has led to more frequent product reformulations to meet the changing needs of consumers seeking natural ingredients in food and beverages.
Food preservatives' ability to prolong shelf life and prevent aging and discoloration are driving increasing customer demand. As consumers become more aware of chemical and synthetic ingredient labels, they are shifting towards natural and allergy-free foods due to health concerns, resulting in an expected rise in demand for natural preservatives.
Growth Drivers
Market Restraints
Organic product sales have surged in the past decade, especially in North America and Europe, due to growing health consciousness. The USDA prohibits artificial coloring, flavoring, and preservatives in organic food, reducing the need for preservatives.
Organic food is stored fresh, reducing the need for preservatives. Despite lower demand for organic food compared to non-organic food, the market for food preservatives has expanded slowly due to the substantial increase in organic food demand.
Opportunity
Recent studies show an increasing preference for clean food ingredients and product label reading among modern consumers. This is driven by their desire for wholesome, natural, fresh, and balanced nutrition.
Food preservation producers are focusing on market breakthroughs and clean-labeled solutions, with innovation in natural preservatives surging. The growing trend towards clean-label products presents lucrative growth prospects for market participants as they focus on novel formulations and advancements in the food and beverage sector.
Challenges
Natural preservatives like nisin and natamycin are expensive and limited due to their high cost. Many are not produced in large quantities, and their production technologies are just beginning to be commercialized. High-quality natural preservatives from trustworthy sources are being researched and tested, and it is expected that the food preservatives market will not reach its full growth potential until these issues are addressed.
Competitive Landscape of the Food Preservatives Market Analysis
New Developments in Food Preservatives Market
June 23, 2023- Celanese and Mitsui Sign Definitive Agreement to Form Nutrinova, a Food Ingredients Joint Venture
Celanese Corporation, a global chemical and specialty materials company, and Mitsui & Co., Ltd. today announced the signing of a definitive agreement to form a Food Ingredients joint venture under the name Nutrinova. Celanese will contribute the assets, technology and employees of its Food Ingredients business while retaining a 30 percent stake in the joint venture. Mitsui will acquire the remaining 70 percent stake at a purchase price of $472.5 million, representing an enterprise valuation of approximately 15 times 2022 EBITDA. The parties expect to close the transaction in the second half of 2023, pending regulatory approvals.
September 14, 2023- BASF offers Product Carbon Footprints for ingredients portfolio in human and animal nutrition markets
Product Carbon Footprints (PCFs) for vitamins, carotenoids, beverage processing polymers, feed enzymes and feed performance ingredients now available upon customer request – methodology certified according to international standard.
Regional Analysis of Global Food Preservatives Industry
North America, comprising 37% of the global food market, is experiencing market expansion due to leading food preservative vendors and rising consumer demand for convenience and processed food products, and strict regulations on food ingredients.
Germany's tightening food and beverage sales laws are expected to boost growth for food preservative makers due to the increasing use of natural food preservatives. As Germany's food exports increase, demand for these preservatives is expected to rise, as they are crucial for maintaining shelf life during transportation.
The growing working population and demand for prepared foods in Japan are expected to drive market expansion. Western dietary standards and lifestyle modifications are driving industry growth, while the trend towards natural and organic foods and healthy eating preferences are also influencing the food and beverage industry.
Segments Covered in the Food Preservatives Market Report
Segment by Type
Segment by Application
Market by Region
Frequently Asked Questions
What are some applications of Food Preservatives?
Preservatives are added to foods to prevent spoilage, slow changes in color, flavor, texture, delay rancidity, and maintain freshness by preventing bacteria, molds, fungi, or yeast.
What is the expected growth rate of the Food Preservatives market over the next 7 years?
Food Preservatives Market is estimated to increase at a CAGR 4.3% from $ 103.25 Billion in 2023 to $ 124 Billion by 2030.
Who are the major players in the Food Preservatives market and what is their market share?
BASF SE, Cargill Inc., Celanese Technology, Corbion N.V., Kerry Group Plc., Chr. Hansen Holding A/S, DuPont de Nemours Inc., JEYS F.I Inc., Koninklijke DSM N.V, The Archer Daniels Midland Company, are prominent players operating and dominating in the market.
Who are the top 3 Food Preservatives Market Key Vendors?
BASF SE, Cargill Inc., Celanese Technology, Corbion N.V., are key players in the Food Preservatives market.
Which geographical areas dominate the worldwide market for Food Preservatives?
North America region are emerging as the top regional markets for Food Preservatives solutions.
Base Year:2022
Historical Data:2018-2022
No of Pages:123
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