Food Preservatives Market Overview:
Global Food Preservatives Market was valued at $2,271 million in 2016, and is expected to reach $2,714 million by 2023, registering a CAGR of 2.6% from 2017 to 2023. Food preservation is the process of treating food with preservatives to stop or slow down spoilage caused by microorganisms such as bacteria, fungi, and others and increases the shelf life of food. It involves restricting the oxidation of fats, which causes rancidity.
At present, most people prefer ready-to-eat food available in the market rather than preparing it at home. These foods contain various additives and preservatives to maintain the quality and to reduce the spoilage by various microorganisms, which is expected to surge the demand for food preservatives in the near future. The health hazards associated with these food preservatives are expected to restrain the market growth during the forecast period. Benzoates cause nausea and diarrhea, whereas saccharin is expected to lead to toxic reactions that affect the gastrointestinal tract and heart. Similarly, sodium chloride leads to high blood pressure, stroke, kidney failure, and heart attack.
The global food preservatives market is segmented based on type, function, application, and geography. Based on type, it is bifurcated into natural and synthetic. The natural food preservatives segment is further classified into sugar, salt, vinegar, honey, alcohol, edible oil, nicin, rosemary extracts, onion, and natamycin. The synthetic food preservatives segment is further categorized into sorbates, benzoates, propionates, and others. Sorbates are further bifurcated into sorbic acid and potassium sorbate. Benzoates are classified as benzoic acid and sodium benzoate. Propionates are also categorized into propionic acid, sodium propionate, and calcium propionate. The others segment is classified into nitrites, sulfur dioxide, lactic acid, sodium diacetate, acetic acid. On the basis of function, the market is divided into antimicrobials, antioxidants, and others. The application areas of the industry are broadly classified into bakery, meat, poultry, and seafood, oils & fats, dairy & frozen foods, snacks, confectionery, beverages, and others. The market is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
Top Investment Pockets
In 2016, meat, poultry & seafood, and dairy & frozen food segments accounted for the major share in global food preservatives market. In terms of value, these applications accounted for more than two-fifths share in the overall market.
The dairy & frozen foods segment is the top investment pocket in the food preservatives market, owing to the increase in demand for combined application of synthetic preservatives. Extension of product shelf life and augment in demand for ready-to-eat food products are anticipated to drive the market growth.
Asia-Pacific Food Preservatives Market
Asia-Pacifics consumption of food preservatives is expected to rise, assisted by the growth in the population, development in food & beverage industry, and stable economic growth. Emerging markets, such as China and India, are expected to show the highest increase in demand for food preservatives during the forecast period. Substantial development in the ready-to-eat food products, meat, and poultry application is anticipated to boost the food preservatives market.
Asia-Pacific Natural Food Preservatives Market, 2016-2023 ($Million)
Major companies have adopted agreements, product launches, expansions, and mergers to sustain the intense competition in this market. The key players profiled in the report include Danisco A/S, Akzo Nobel N.V., Kemin Industries, Inc., Cargill, Incorporated, Hawkins Watts Limited, Celanese Corporation, Univar Inc., Tate & Lyle, Kerry Group, and Koninklijke DSM N.V.
The other market players (not profiled in report) in the value chain include Brenntag Solutions Group, Inc., Galactic, E. I. du Pont de Nemours and Company, PuracBiochem B.V., Kilo Ltd., Ajinomoto Co. Inc., and Albemarle Corporation.
Key Benefits for Stakeholders
- This report provides an extensive analysis of the current trends and emerging estimations in the global food preservatives market.
- In-depth analysis of the industry is conducted through market estimations of key segments from 2017 to 2023.
- Competitive intelligence of leading manufacturers and distributors of food preservatives helps to understand the competitive scenario across geographies.
- Comprehensive analysis of factors that drive and restrain the market is provided.
- Extensive analysis of the industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The key players are profiled and their strategies to determine the competitive outlook of the market.
Food Preservatives Market Key Segments:
- Edible Oil
- Rosemary Extracts
- Sorbic Acid
- Potassium Sorbate
- Benzoic Acid
- Sodium Benzoate
- Propionic Acid
- Sodium Propionate
- Calcium Propionate
- Sulfur Dioxide
- Lactic Acid
- Sodium Diacetate
- Acetic Acid
- Meat, Poultry, and Seafood
- Oils & Fats
- Dairy & Frozen Foods
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA