Preservatives Market Revenue Growth Predicted by 2018-2026

Preservatives are substances or chemicals added to drugs, food, beverages, paints, cosmetics, and wood, in order to prevent microbial growth and undesirable changes in terms of both, physical and chemical properties. Preservatives are of two kinds, namely natural and synthetic, both of which are used to enhance the quality of the end product.

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Natural preservatives such as antioxidants, vitamin E, rosemary extracts, and seed extracts are readily available in nature and often obtained from plant sources. Synthetic preservatives such as benzoic acid, sodium nitrite, sulfur dioxide, and potassium sorbate, are chemical components processed and added to the end product. Growing health concerns among the global populace has caused an increasing demand for natural preservatives, in turn projecting immense growth for the preservatives market, over the forecast period. Positive growth outlook of the food industry in highly populous and emerging economies of India and China, further contribute to growth of the global preservative market.

Preservatives Market Outlook – Growing Demand for Processed Food Is Fueling Market Growth

Rising demand for processed food due to busy lifestyle and increasing number of women in the workforce is projected to drive growth of the preservatives market, over the forecast period (2016–2024). In addition growing retail industry in emerging economies and popularity of processed food among the younger generation is also boosting growth of the market for processed food, which in turn is projected to drive market growth. According to a study conducted by Coherent Market Insights, the market for processed food is projected to reach US$ 88.2 billion by 2024. The rampant growth of the market for processed food, is expected to fuel growth of the preservatives market, owing to the application of preservatives in processed food to enhance its overall quality, taste and shelf life.

Preservatives Market Challenges – Stringent Government Rules and Regulations

Stringent regulatory scenario regarding the use of preservatives considering its negative health impact is a challenge for growth of the global preservatives market. Various authorities across the globe regulate usage of preservatives. Despite its usage in various end-use industries such as food and pharmaceutical drugs, preservatives are associated with a number of health issues such as cancer, hyperactivity, and heart issues. The U.S. Food & Drug Administration (FDA) implemented certain guidelines for usage of preservatives in food and medicines. According to the FDA, 'a chemical preservative should comply with purity specifications in regulations in 21 CFR 172, or in the Food Chemicals Codex'. Also, countries such as Finland, Norway, Austria, U.K., and France have banned synthetic food colorings, while the U.K. and Canada have banned usage of Olestra (a fat substitute preservative). Such regulations imposed on the usage of preservatives, inhibits growth of the preservatives industry to a certain extent.

Global Key Players:

Key players in the global preservatives market include Corbion N.V., Cargill Incorporated, Kerry Group, BASF SE, Chr. Hansen A/S, Archer Daniels Midland Company, E. I. du Pont de Nemours and Company, and Celanese Corporation.

Preservatives Market Taxonomy

On the basis of source, the global market is classified into:
• Natural
• Synthetic

On the basis of function, the global market is classified into:
• Antimicrobials
• Antioxidants

On the basis of end user, the global market is classified into:
• Food and beverages
• Cosmetics
• Pharmaceuticals
• Construction
• Others

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This release was published on openPR.