According to a new report published by Allied Market Research, titled, "Natural Food Preservatives Market By Type, Function And Application: Global Opportunity Analysis And Industry Forecast, 2019-2026," the global natural food preservatives market size was valued at $796.1 million in 2018 and is projected to reach $1,068.1 million by 2026, growing at a CAGR of 3.7% from 2019 to 2026. Asia-Pacific is one of the prominent regions in the market that accounted for approximately one-fourth of the total natural food preservatives market share in 2018. Preservatives are used in a wide range of products, such as bakery, confectionery, snacks, meat, seafood, poultry, and others, to reduce oxidation, prevent food spoilage, and inhibit microbial growth. The types of preservatives include antimicrobials, antioxidants, chelating agents, and others. Various regulations are imposed on the use of food preservatives by regulatory bodies. FDA has regulated the concentration range of preservatives to be added in food products and has also banned use of chemicals that are harmful to human health.
Factors that drive the natural food preservatives market growth are change in lifestyle of people and varied consumer trends toward use of ready-to-eat food products. The food & beverage processing industry has influenced the food preservatives market to a large extent. In addition, growth in bakery, confectionery, meat, and poultry applications is expected to fuel the demand for food preservatives in the future. However, stringent regulations pertaining to the use of chemical preservatives in many regions and rise in awareness among consumers toward use of these additives are expected to hamper the growth of the market.
The Natural Food Preservatives Industry is segmented on the basis of type, function, application, and region. On the basis of type, it is divided into salt, sugar, oil, honey, citric acid, vinegar, and others. The others segment includes plant extracts and fruit extracts. By function, the market is categorized into antimicrobial, antioxidants, and others. By application, the market is split into sea food, meat & poultry, bakery products, dairy products, snacks, beverages, fruits & vegetables, and others. The others segment is further divided into sauces, dressings, condiments, confectionery, and savory snacks. The natural food preservatives are studied four regions, namely, North America, Europe, Asia-Pacific, and LAMEA
According to Shankar Bhandalkar, Senior Research Analyst, Food and Beverages at Allied Market Research, “Over the years, general awareness among consumers about health and fitness has increased exponentially. They are now aware of the effects of synthetic preservatives used in food. To remain fit and healthy, consumers today are shifting toward food items which either do not contain preservatives or use natural preservatives to increase shelf life.”
According to the natural food preservatives market the salt segment was the highest contributor to the global market. However, the citric acid segment is expected to grow at the fastest CAGR of 4.8% during the forecast period reaching $110.6 million by 2026. Citric acid is found naturally in citrus fruits. It is widely used in carbonated drinks and as an acidifier in foods. The market for aerated drinks is growing exponentially, therefore, the market for citric acid is also expected to grow at a substantial rate.
According to the natural food preservatives market analysis, the antimicrobial segment accounted for the maximum share in the global market in 2018 and is expected to remain dominant during the forecast period. Also, the antioxidants segment is expected to experience a rapid growth with a CAGR of 3.5% from 2019 to 2026. In addition, the sea food, meat & poultry segment accounted for a maximum share in the global market in 2018 and is expected to remain dominant during the forecast period. The snack and bakery segment is expected to grow at significant CAGR of 4.7% and 4.1% during the forecast period.
An increase in demand for natural food preservation equipment in Asia-Pacific and LAMEA is expected in the future, owing to the rise in the prevalence in consumption of packaged food in this region. Moreover, rise in the general awareness about harmful effects of synthetic compounds in food and adoption of clean label food ingredients is expected to provide opportunities for the growth global market.
Key Findings of the Natural Food Preservatives Market :
- Based on type, the salt segment in the market is expected to grow at a CAGR of 3.4% from 2019 to 2026.
- Based on region, North America is projected to maintain its lead position throughout the forecast period, growing at a CAGR of 3.4%.
- Based on function, the antimicrobial segment accounted for more than 57.4% of the total natural food preservatives market in 2018.
- Based on region, Asia-Pacific is expected to occupy a sizeable share in the global natural food preservatives market. It is expected to reach $316.2 million in 2026.
- Based on application, the sea food, meat & poultry segment is expected to grow at a CAGR of 3.4% from 2019 to 2026.
North America accounted for approximately two-fifth share of the total natural food preservatives market in 2018 and is expected to remain dominant during the forecast period. Asia-Pacific is expected to be a prominent market with major growth expected in China, India, and other developing countries.
The key players profiled in the natural food preservatives market report include Koninklijke DSM N.V., Cargill, Inc, Kemin Industries, Inc., Archer Daniels Midland Company, Tate & Lyle PLC., BASF SE, Corbion NV, Galactic SA, Biosecur Lab (Foodguard) and ITA 3 S.r.l.