Preservatives are used in several products to limit oxidation, stop food from rotting, and stop the growth of microorganisms, including bread, confectionery, snacks, meat, fish, and poultry. Examples of preservatives include antimicrobials, antioxidants, chelating agents, and other kinds. Regulatory organizations set different limitations on the use of food preservatives. The FDA has limited the range of preservative concentrations that may be used in food items and outlawed the use of harmful substances to human health.
The market for food preservatives in 2021 was USD 3 billion, and by 2030, it will reach USD 4.65 billion, growing at a 5% CAGR during the forecast period.
The global food preservatives market is growing due to changes in customer preferences and lifestyles, as well as numerous consumer trends toward the usage of ready-to-eat food products. The food and beverage processing sector has significantly impacted the market for food preservatives. The need for food preservatives is also anticipated to increase due to the rise of applications in the bread, confectionery, meat, and poultry industries.
Market Dynamics
Drivers
Due to modern lifestyles and shifting eating patterns, the market for food preservatives is driven by the rising demand for processed food items, including morning cereals, bread, and ready-made meals worldwide. The market for food preservatives is also drive by the food industries’ increase adoption of clean, labeled food items free of artificial preservatives due to rising health consciousness among consumers and high demand for organic food goods. Natural preservatives like grapeseed extracts, citrus oils, and buffer vinegar are used in foods with clean labels. Additionally, the market is growing as there is an increase in the consumption of commercial beverages worldwide. These beverages consist of preservatives like sodium benzoate, potassium benzoate, and potassium sorbate to enhance their shelf life and make them more appealing in taste and aroma.Restraints
Stringent regulations hamper the market growth in place in many locations regarding the use of chemical preservatives, as well as a rise in consumer awareness of this usage.Opportunity
Increasing demand for clean-label products and natural preservatives will fuel market expansion over the forecast period. In addition, the market will undoubtedly expand in the near future due to the ongoing expansion of the food processing industry in developing nations like China and India. The establishment and expansion of food parks are support by a $300 million “Food Processing Fund” established by the Indian government. At the moment, 42 Mega Food parks are being build. Numerous global food processing businesses, including Kraft, Mars, Nestle, Kellogg, Coca-Cola, and others, have invested due to this government program.Market Segmentation
By Type
On the basis of type, the food preservatives market is segment into natural and synthetic preservatives. With the greatest market revenue share of 66%, the synthetic preservatives category dominated the industry in 2022. This preservative functions as an antioxidant that increases food acidity, lowers moisture content, slow down ripening, and inhibits the growth of microbes, all of which assist in extending the shelf life of fast meals.The market growth rate is drive by the rising demand for synthetic food preservative in the meat and poultry, food, and snack industries. During the projected period, the segment for natural food preservatives will develop at the quickest CAGR. When compared to synthetic preservatives, these are safer and more practical.By label Type
On the basis of label type, the market for food preservative is segment into clean label and conventional. In 2022, the conventional category held a leading position in the market, accounting for 63% of total market revenues. Traditional food preservatives are crucial for extending food’s shelf life. Drying, chilling, pasteurization, and fermentation are some of the traditional methods for food preservation.By Function
On the basis of function, the food preservatives market is segment into T antibacterial, antioxidant, and others. With a 76% market revenue share, the antimicrobial preservatives category dominated the industry in 2022. This preservative is crucial for protecting food, medicine, and other organic materials from bacteria. Methyl, Ethyl, Propyl, Sorbic Acid, and Butyl Parabens are examples of this type of preservative.Regional Analysis
In 2022, North America was the major market, with 34% of revenue share. The demand for safe food items and the desire to prevent food waste is driving the region’s expansion. Due to rising health hazards, consumers in developed nations like the US, Canada, and Mexico favor natural foods that have undergone little processing. Also contributing to the market expansion in the area is the rising popularity of packaged, ready-to-eat foods. Due to rising demand in the food sectors and for dairy products, the Asia Pacific region will develop at the quickest CAGR during the forecast period.Key Players
- Celanese Corporation
- ADM
- Kemin Industries, Inc.
- BASF SE
- Tate & Lyle
- Corbion N.V.
- Cargill, inc.
- Galactic S.A.
- Kerry
