Rising Prevalence of Foodborne Diseases to Drive the Food Preservatives Market Growth - Danisco, Akzonobel, Brenntag, Tate & Lyle

Preservatives are chemicals or substances added to food products, beverages, drugs, cosmetics, paints, and wood to prevent microbial growth and unwanted changes in terms of both chemical and physical properties. Food and drink products are affected by a range of different microbes including mold, yeast, and bacteria. Food preservatives are added to fight spoilage caused by yeast, fungus, molds, and bacteria. They help keep food fresh for longer periods, extending its shelf life. Therefore, there is an increasing demand for food preservatives across the food and beverages industry, driving the growth of the food preservatives market.

For example, in April 2019, Ingredient Trading Company launched a natural food preservative range that claims to boost the shelf-life of dairy and bakery products, as well as both fresh and cooked meat products. Food preservatives are also used to slow or prevent changes in color, flavor, or texture and delay rancidity. Moreover, there is an increasing demand for natural food products worldwide. To cater this demand, market players are focused on launching natural alternatives in the market. For example, in October 2019, Chinova Bioworks launched two new natural food preservatives for the dairy and alt-dairy industry to replace current preservatives on the market with a natural, clean-label alternative.

Food Preservatives Market is expected to grow at a CAGR of 9.42% and is poised to reach US$XX Billion by 2027 as compared to US$XX Billion in 2020.
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Based on Type, the market has been segmented into:
Natural, Synthetic

Based on application, the market has been segmented into:
Bakery, Dairy & frozen products, Snacks, Meat, poultry, & seafood products, Confectionery, Beverages

This in turn is also expected to augment the growth of the food preservatives market. Moreover, growth of the food preservatives market is driven by the increasing prevalence of foodborne diseases and increasing population worldwide, especially in the United States, as preservatives are used in food to increase shelf life and maintain optimal quality of food. According to the Centers for Disease Control and Prevention (CDC), each year, around 48 million people get sick, 128,000 are hospitalized, and 3,000 die from foodborne diseases in the U. S. Moreover, according to the World Health Organization (WHO), each year, unsafe food causes 600 million cases of foodborne diseases and 420 000 deaths worldwide.

Thus, there is an increasing demand for food preservatives worldwide, especially in the U.S., driving the growth of the food preservatives market in this region. Food and beverages are stored after addition of food preservatives to reduce the possibilities of bacterial infection. All these benefits allow users to keep food safe and nutritious for far longer. This leads into an often-overlooked benefit of food preservatives; they reduce food waste. Furthermore, growing health concerns among the global populace has led to an increasing demand for preservatives. Thus, rapidly growing food and beverage industry in emerging economies, such as China and India, is further contributing to the food preservatives market growth.

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This release was published on openPR.