Food Preservatives Market Sees Promising Growth in 2019 with top Key Players Galactic, Danisco A/S, Tate & Lyle PLC, and Brenntag AG, Kemin Industries Inc., AkzoNobel N.V.

Food Preservatives – Insights
Food preservatives are substances added or sprayed in food to restrict the growth of fungi, bacteria, and other harmful microorganisms. Food preservatives are broadly classified as natural and synthetic. Natural food preservatives is dominating the market, according to stats provided by Coherent Market Insights in 2016. Growing population and increasing prevalence of foodborne diseases is expected to boost growth of the market, as preservatives are used in food to increase shelf life and maintain optimal quality of food. Food and beverages are stored after addition of food preservatives to reduce the possibilities of bacterial infection. Also, high prevalence of various foodborne diseases and disorders such as abdominal pain, vomiting, and diarrhea is expected to fuel the demand for food preservatives during the forecast period.

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Major players in the global Food Preservatives market include Univar Inc., Hawkins Watts Limited, Cargill Inc., DSM N.V., Galactic, Danisco A/S, Tate & Lyle PLC, and Brenntag AG, Kemin Industries Inc., AkzoNobel N.V., among others.

The global Food Preservatives market size is estimated at US$ 2.23 billion in 2016 and is expected to expand at a CAGR of 3.30% from 2017 – 2025.
One of the major challenges of the food preservatives market is the stringent government regulations. For instance, on June 20, 2016, the Food Safety and Standards Authority of India (FSSAI) by the Government of India banned the use of potassium bromate and cyclamates in food.

Moreover, the Government of the Hong Kong special Administrative region, on July 01, 2008, introduced new regulations for controlling the use of preservatives and antioxidants in food. Also, the National Food Safety Standard for Food Additive Use (GB2760-2014) was introduced on December 24, 2014 by the National Health and Family Planning Committee of China. It will be implemented on May 24, 2015.

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Regional Insights
Europe, followed by North America and Asia Pacific accounted for major share in the global Food Preservatives market in terms of revenue in 2016 and the trend is estimated to remain the same over the forecast period. In 2016, Europe held a share of 28.1% in terms of value, followed by Europe (27.6%). The growing demand for confectionery in Asia Pacific due to growing population, increased urbanization and growing retail and hospitality sector is expected to drive growth of the global food preservatives market over the forecast period. According to a study conducted by Coherent Market Insights, the global anti-oxidants market is expected to witness a CAGR of 3.32% during 2017-2025, which is expected to fuel growth of the global food preservatives market.

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysisthrough various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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This release was published on openPR.