Food preservation is the process of treating food with preservatives to prevent or reduce decomposition caused by microbes such as bacteria, fungi, and others, hence increased food shelf life. It includes limiting lipid oxidation, which produces rancidity.
The global Food Preservatives market size was valued at $2,511.5 million in 2020, and is projected to reach $3,671.7 million by 2031, registering a CAGR of 3.4% from 2022 to 2031. The synthetic segment was the highest revenue contributor to the market, with $1,348.4 million in 2020, and is estimated to reach $1,884.6 million by 2031, with a CAGR of 3.0%.
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Natural preservatives are in high demand in a variety of applications, including meat, poultry, and seafood, as well as bakery and confectionery. Owing to severe laws on synthetic preservatives, demand for natural preservatives is likely to rise throughout Asia-Pacific in the near future.
Changes in people’s lifestyles and various consumer trends toward the use of ready-to-eat food products drive the expansion of the worldwide food preservatives industry. The food and beverage processing industry has had a significant impact on the food preservatives market. Furthermore, expansion in bakery, confectionery, meat, and poultry applications is projected to drive food preservative demand in the near future. However, tight rules in governing the use of chemical preservatives in many places, as well as surge in consumer awareness about the usage of these chemicals, are projected to stymie market growth in the foreseeable future.
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The food preservatives market is segmented based on type, function, application, and region. 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 across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include Danisco A/S, Akzo Nobel N.V., Kemin Industries, Inc., Cargill, Incorporated, Hawkins Watts Limited, Celanese Corporation, Univar Inc., and Koninklijke DSM N.V.
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Key Findings And Scope
- In terms of value, the natural segment is expected to grow at a CAGR of 3.9% during the forecast period.
- Asia-Pacific is projected to maintain its lead position throughout forecast period, growing at a CAGR of 4.4%, in terms of value.
- Meat, poultry, and seafood application is estimated to occupy one-fourth of the total market by 2031.
- China is expected to occupy more than half of the total Asia-Pacific food preservatives market by 2023.
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