Food preservatives Market Size is Projected to Reach USD 3315 million at a Approximately CAGR of 4% during the predicted years (2018-2023)
Pune, India - March 22, 2019 /MarketersMedia/ —
Market Analysis
The Global Food Preservatives Market is touted to touch USD 3315.5 million at an impressive 3.80% CAGR during the predicted years (2018-2023). Food preservatives simply put are products that are used during food processing for avoiding spoilage and increasing stability. Preservatives are available in different varieties but not all are utilized at the time of processing. Some are also added in minimal quantities in some forms of foods post processing resting on the requirement. Generally, spices, sugar and salts are utilized for preserving meat as well as other foods. One of the best advantages of using food preservatives is that it helps in preventing the microorganisms to multiply, thus delaying or inhibiting spoilage. Today food preservatives have a wide application including frozen food products, confectionery products namely natural food colors, dairy products, oils and fats, beverages, seafood, poultry, meat products and baking products namely various forms of baking ingredients.
There are many factors that is driving the growth of the Food Preservatives Market. Some of these factors as per the Market Research Future (MRFR) report include increase in consumer affordability, willingness to invest in products having premium prices, increase in the number of consumers looking for high-quality and fresh edibles, increase in exports and imports, change in people’s lifestyle and increasing popularity of convenience products and packaged goods. On the contrary, factors such as health hazards related to food preservatives, growing health concerns concerning the safety of the food additives, rising price of natural preservatives as well as stringent government regulations may hamper the growth of the food preservatives market.
Competitive Analysis
The global food preservatives market is competitive and moderately fragmented. It is mergers that form a vital part for leading players in the market. Growing demand for natural products owing to health issues has led a couple of foods preservative manufacturers to make investments in the business for offering superior quality products and accelerating the demand for food preservatives. They are also working on new technologies that will reduce the cost of production and improve the feed product along with its quality.
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Key Players
Leading players profiled in the food preservatives market include-
• Cognis (Germany)
• Jungbunzlauer Ag (Switzerland)
• Corbion Purac (the Netherlands)
• Archer Daniel Midland (U.S.)
• Kerry Group (Ireland)
• Albemarle Corporation (U.S.)
• Hawkins Watts Limited (New Zealand)
• Danisco A/S (Denmark)
• Tate & Lyle PLC (U.K)
• LLC (U.S.)
• Prinova Group, Celanese Corp. (U.S.)
• Brenntag Inc (U.S.)
• Chr. Hansen A S (Denmark)
• Galactic S.A. (Belgium)
• Akzo Nobel N.V. (the Netherlands)
• Kemin Industries, Inc. (U.S.)
• Univar Inc. (U.S.)
• Royal DSM (the Netherlands)
• DuPont (U.S.)
• BASF (Germany)
• Incorporated (U.S.)
Key Findings:
• Global food preservatives market is projected to reach USD 3315.5 million by 2023 at a growth rate of 3.80%
• Natural food preservative is witnessed to have the highest growth rate with CAGR of 4.29% over the forecast period 2017-2023
• Natural food preservative is expected to grow at a CAGR of 4.92% in Asia Pacific region followed by Europe over the forecast period.
• Application of food preservative in dairy & frozen desserts is witnessed to be the fastest growing segment over the forecast period
Industry Updates:
Aug 2018- Scientists at NTU (Nanyang Technological University), Singapore have come up with a food preservative that is plant based and is highly effective compared to artificial preservatives. It contains organic preservatives which are the naturally occurring flavonoids, an assorted group of photonutrients that is found in every vegetable and fruit. The NTU scientists have made flavonoids that has strong antioxidant and antimicrobial characteristics, the two chief traits of preservatives which extend the freshness of food and inhibit the growth of bacteria.
Market Segmentation
Market Research Future report offers an all-inclusive segmental analysis of the food preservatives market on the basis of Type, Function and Application.
Based on Type : Nitrates, Sorbates, Propionates, Benzoates, Natural and Synthetic.
Based on Function : Antimicrobials and Antioxidants.
Based on Application : Dairy, Beverages, Bakery and Confectionery and others.
Regional Analysis
Based on Region, the food preservatives market covers growth opportunities and latest trends across North America, Asia Pacific, Europe and Rest of the World. Of these, North America will rule the food preservatives market followed by APAC and Europe. The market in APAC is predicted to have higher growth with China and India being the largest contributors. The Rest of the World is projected to have a moderate and steady growth in food preservatives market during the predicted years.
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Target Audience:
• Food preservatives manufacturers
• Raw material suppliers
• Food and beverage industry
• Retailers and wholesalers
• E-commerce industry
• Traders, importers, and exporters
About Market Research Future:
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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Source: MarketersMedia
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