Food Preservatives Market by Type (Natural, Synthetic), Application (Meat, Poultry, and Seafood, Bakery & Confectionery, Dairy & Frozen desserts, Beverages, Snacks, Others): Global Market Size Estimates and Forecast (2022–2030)
The market crossed US$ 4.06 billion mark in 2022 and is expected to hit US$ 5.73 billion by 2030, recording a CAGR of 4.4 during the forecast period.
The growing demand for convenience foods and increasing awareness about the medicinal properties of food preservatives augment the growth of the food preservatives market.
Since the COVID 19 pandemic, consumers have been shifting towards the adoption of healthy nutrient intake. Also, the increased knowledge regarding the nutrients in their food and beverages and the benefits associated with the ingredients drive the demand for food preservatives. Moreover, the busy schedules and emerging countries such as India, Brazil, and Indonesia demand convenience foods with additional natural preservatives. Moreover, the manufacturers are focusing on developing new products to cater to the consumers’ demand. These are all factors driving the market’s growth. In addition, the increased consumption of meat, poultry, and seafood to maintain health, the need for food preservatives for such products has increased.
Within the report, the market is segmented into type, application, and geography. By type, the market is further segmented into natural, and synthetic. On the basis of application, the market is segmented into meat, poultry, and seafood, bakery & confectionery, dairy & frozen desserts, beverages, snacks, and others. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Growing demand for antimicrobial agents in food preservatives surging the growth of the food preservatives market.
Antimicrobial agents are extensively used in baked goods, frozen desserts, snacks, and beverages. Antimicrobial food preservatives are popular due to their extended shelf-life properties, improved product safety and quality, and ease of distributing products worldwide through a complex supply chain. Moreover, synthetic food preservatives are taken over by natural food preservatives which further propel the food preservatives market growth.
Rising adoption in various industries is one of the major factors accelerating the market growth.
The industries in the food preservatives market are meat, poultry, and seafood, bakery & confectionery, and dairy & frozen desserts, beverages, snacks, and others. Within these industries, meat, poultry, and seafood industry is one such industry, wherein the use of natural food preservatives is extensively used due to their extended shelf-life functionality. The bakery and confectionery industry is also encouraging the use of food preservatives. Other industries such as dairy & frozen desserts, beverages, and snacks also encourage the use of food preservatives.
Recent strategic developments in food preservatives market
The food preservatives market has undergone several significant developments, and a few of these have been mentioned below:
- In June 2020, Cargill, Incorporated opened its first food innovation centre in Singapore to address nutrition and food safety needs.
- In July 2021, DSM expanded cheese biopreservation portfolio with new phage-robust culture rotations.
- In January 2017, Kemin Industries, Inc. launched a new vinegar-based preservative.
- In June 2021, Nutrition company Kerry Group acquired preservatives maker Niacet for $1.01bn.
The food preservatives market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Cargill, Incorporated, Kemin Industries, Inc., ADM, Tate & Lyle plc, and DSM are among the prominent players operating in the market.
Target audience for the report:
- Raw material providers
- Food Preservatives-related service providers
- Food and Safety-related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Food preservatives distributors
- End users of food preservatives
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Type:
- Natural
- Synthetic
- Application
- Meat, Poultry, and Seafood
- Bakery & Confectionery
- Dairy & Frozen Desserts
- Beverages
- Snacks
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- Cargill, Incorporated
- Kemin Industries, Inc.
- ADM
- Tate & Lyle plc
- DSM
- Cargill, Incorporated
- Kemin Industries, Inc.
- ADM
- Tate & Lyle plc
- DSM