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The food preservatives market has exhibited steady growth in recent years, driven by factors such as increased consumer demand for processed and convenience foods, the need for food shelf-life extension, and a growing focus on food safety. This blog delves into the current trends, growth projections, and major dynamics shaping the food preservatives industry.

 

 

Current Landscape and Growth Trajectory

• Steady Growth in Recent Years

The food preservatives market is currently valued at $2.81 billion in 2023, expected to reach $2.94 billion in 2024, displaying a Compound Annual Growth Rate (CAGR) of 4.6%. The historical growth is credited to factors like the global growth of the food and beverage industry and the rising demand for natural and clean label food preservation solutions.

• Key Growth Drivers

The historic period saw an increased emphasis on regulatory approval and the safe usage of food preservatives, along with a surge in the demand for natural and clean label preservation solutions. Consumer preferences for convenience foods and the need for extended shelf life further contributed to the industry’s growth.

                              

 

Future Projections and Emerging Trends

• Steady Growth Expected

The food preservatives market is anticipated to maintain steady growth, reaching $3.58 billion in 2028 at a CAGR of 5.0%. The forecasted growth is attributed to factors such as the adoption of plant-based preservatives, research and development in next-gen preservative technologies, and the expansion of preservative applications in meat and poultry processing.

• Emerging Trends in the Forecast Period

Major trends expected to shape the food preservatives market in the forecast period include:

• Natural antimicrobial extracts
• Antioxidant preservatives
• Plant-derived essential oils
• Combination preservative systems
• Emerging technologies like pulsed electric fields (PEF) and nanotechnology in food preservation

 

 

The Role of Food Preservatives in the Ready-To-Eat Food Revolution

• Boosting Ready-to-Eat Food Consumption

The consumption of ready-to-eat food is on the rise due to busy lifestyles, driving the demand for food preservatives. These preservatives play a crucial role in minimizing spoilage and maintaining food quality. As per a survey by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), approximately 79% of Indian households prefer instant food due to time constraints.

• Market Influence

The increasing demand for ready-to-eat food aligns with the higher adoption of natural and artificial preservatives to ensure these foods remain fresh and safe for consumption. This trend significantly contributes to the overall growth of the food preservatives market.

 

 

Product Innovations in the Food Preservatives Market

• Clean-Label Preservatives

Major players in the food preservatives market are concentrating on product innovation, particularly in the realm of clean-label preservatives. These preservatives aim to maintain the natural flavor and texture of finished products while meeting customer demands for non-petrochemical-based components. An example is the launch of a clean-label mold inhibitor by BioVeritas, designed to address flavor and texture concerns.

• Niacet Acquisition by Kerry Group

In June 2021, Kerry Group acquired Niacet for $1 billion, bolstering its presence in food preservation. Niacet, a U.S.-based company, specializes in producing food preservatives. This strategic acquisition complements Kerry Group’s clean-label focus and expands its product portfolio to include conventional organic acids and vinegar-based preservation technologies.

 

 

Segmentation and Regional Outlook

• Market Segmentation

The food preservatives market is segmented based on type, function, and application:

• Type: Synthetic, Natural
• Function: Anti-Microbial, Anti-Oxidant, Chelating Agents, Enzyme Attackers
• Application: Beverages, Oils and Fats, Bakery, Dairy and Frozen Products, Snacks, Meat, Poultry, Confectionery, Other Applications

• Regional Dynamics

North America holds the largest share in the food preservatives market in 2023, with Asia-Pacific projected to be the fastest-growing region in the forecast period.

 

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Read The Full Food Preservatives Market Report Here:

https://www.thebusinessresearchcompany.com/report/food-preservatives-global-market-report

 

 

The Food Preservatives Global Market Report 2024 provides an overviewof the food preservatives market for the time series: historic years (2010 -2021) and ten years forecast (2023 – 2032).The food preservatives market forecast analyzes food preservativesmarket size, food preservatives market share,leading competitor and their market positions.

 

 

The Table Of Content For The Food Preservatives Market Include:
1. Food Preservatives Market Executive Summary
2. Food Preservatives Market Segments
3. Food Preservatives Market Size And Food Preservatives Market Growth Rate
4. Key Food Preservatives Market Trends
5. Major Food Preservatives Market Drivers
……
25. Key Mergers And Acquisitions In The Food Preservatives Market
26. Top Food Preservatives Companies
27. Food Preservatives Market Opportunities And Strategies
28. Food Preservatives Market, Conclusions And Recommendations
29. Appendix

 

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