Food preservatives market size is predicted to progress rapidly at a CAGR of 4.1% to reach US$ 4.0 billion by 2026. The global industry is estimated to be valued at US$ 3.3 billion in 2021. Food preservatives are a key factor in the food industry, as they help to extend the shelf life of food products and maintain their quality and safety. The increasing demand for processed and convenience foods, as well as changing consumer lifestyles and the growing awareness of food safety, have contributed to the growth of the food preservatives market. The food preservatives market is expected to continue to grow as consumers demand high-quality and safe food products that have a longer shelf life. Additionally, advancements in food preservation technology and the development of new and more effective food preservatives are also expected to drive growth in the market. The expansion of retail chains and the growth of the retail sector have contributed to the growth of the market, as consumers are demanding more convenience and processed food products.
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Opportunities: Clean label: a clear trend across global food markets
Natural and clean-label preservatives and ingredients are preferred by consumers, as they are constantly looking for ‘natural’ products, incorporating inherently natural, fresh, wholesome, and balanced nutrition. Natural preservatives are more likely to be accepted than chemical or synthesized preservatives as consumers perceive natural ingredients to be the safer and healthier choice. The growing trend toward clean-label products, which is slowly becoming mandatory across the globe, creates many opportunities for new formulations and new product developments in the food & beverage industry. Health-conscious consumers demand information on the ingredients that are being used in the making of the food products they buy; hence, clean labelling of food items, where the product information is mentioned on the packaging, assures consumers that the product is healthy to consume.
Fats & oils by application, is projected to grow at the highest CAGR in the food preservatives market
Preservatives used in oils & fats are mainly antioxidants by function and mainly include butylated hydroxyanisole (BHA), tertiary-butylhydroquinone (TBHQ), and butylated hydroxytoluene (BHT). Natural antioxidants such as alpha-tocopherols are known to preserve the vegetable oils in plants. Alpha-tocopherols are ineffective for preserving oil during storage or while cooking; however, the blends of tocopherols with ascorbyl palmitate are. BHA is effective in animal fats, whereas gallates are more effective in vegetable oils.
The demand for oils & fats has increased in recent years, and therefore the need for preservation is important for the betterment of the product. Furthermore, the foodservice industry is a promising industry as there is an increasing demand for convenience foods which has driven the market for oils & fats.
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The Asia Pacific region is projected grow at the highest CAGR during the forecast period in the food preservatives market
The Asia Pacific food & beverages sector is greatly influenced by the consumer preference for healthy eating, the trend toward natural and organic foods, and the growing need for convenience food products. With emerging economies, growing industrialization, increasing demand for processed foods, and consumer preference for quality products, ingredient suppliers are becoming increasingly optimistic about the growth of the food & beverage industry. These trends and preferences have created a need for new additives in foods, despite the increasing awareness about the health hazards associated with synthetic food additives.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the food preservatives market. It consists of the profiles of leading companies such as the major food preservatives manufacturers include BASF SE (Germany), Kerry Group Plc (Ireland), Koninklijke DSM N.V. (Netherlands), Cargill, Incorporated (US), Kemin Industries, Inc. (US), IFF Nutrition & Biosciences (US), ADM (US). Tate & Lyle (UK), Lallemand Inc. (Canada), ITA 3 S.r.l (Italy), Foodchem International Corporation (China), Galactic (Belgium), Corbion (Netherlands), Celanese Corporation (US), and Jungbunzlauer Suisse AG (Switzerland). These players have focused on acquisitions to gain a larger market share in the food preservatives market.
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