Global Food Preservatives Market Research Outlook, Recent Trends and Growth Forecast 2020-2027

The global food preservatives market size was valued at US$ 2.23 billion in 2016 and is expected to expand at a CAGR of 3.30% from 2017 - 2025.

Food preservatives are substances added or sprayed in food to restrict 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.

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The meat, poultry & sea food segment held dominant position in the global food preservative market in 2016, and the trend is expected to continue during the forecast period. The demand for protein food and organized retail is expected to drive the global food preservatives market. Moreover, changing demography and increase in disposable income especially in Latin America and Asia Pacific coupled with innovation in meat processing technology is expected to fuel the global food preservatives market.

One of the major challenges of the global food preservatives market is the stringent government regulations. For instance, in June 2016, the Food Safety and Standards Authority of India (FSSAI) of the Government of India banned the use of potassium bromate and cyclamates in food.

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 the largest share of 28.1% in terms of value in the global food preservatives market. Growing demand for confectionery foods 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.

Multinational players need to tap potential addressable market in the emerging regions with the help of geographical expansion

Product portfolio expansion and geographical expansion are the key market trends which are expected to shape the industry in the near future.

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., and AkzoNobel N.V.

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This release was published on openPR.