Food Preservatives Market Key Players, Size, Share, Demands, Trend, Growth rate and Forecasts to 2028

The food preservatives market is estimated to be valued at USD 3.4 Billion in 2023. It is projected to reach USD 3.9 Billion by 2028, recording a CAGR of 3.0% during the forecast period. Market is anticipated to grow due to increased demand for convenient processed food, especially in the emerging economies such as India, China, and ASEAN countries. High rates of rise in population, employment, and disposable incomes is generating a demand for food that is varied, easy to use, and is available all seasons. These packaged processed food use variety of preservatives to keep intact flavor, freshness, and nutrient profile. These factors are driving the market for food preservatives.

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The food preservatives market refers to the industry that produces and supplies substances that are added to food products to increase their shelf life and prevent spoilage caused by bacteria, yeasts, and molds. The market includes natural and synthetic preservatives, which are added to a wide range of food and beverage products such as processed meats, baked goods, dairy products, beverages, and snacks.

The demand for food preservatives has increased in recent years due to the rise in global food production and consumption, and the need to extend the shelf life of perishable products. The market is driven by the growing awareness among consumers about food safety and hygiene, the increasing use of convenience foods, and the need to reduce food waste.

Prominent companies include Cargill, Incorporated (US), DSM (Netherlands), ADM (US) , Kerry Group plc (Ireland), Kemin Industries, Inc. (US), Jungbunzlauer Suisse AG (Switzerland), among others. These companies offer a wide range of preservatives, including natural preservatives such as vinegar, citric acid, and rosemary extract, as well as synthetic preservatives such as sodium benzoate, potassium sorbate, and propionic acid.

The food preservatives market is expected to continue to grow in the coming years, driven by factors such as increasing demand for processed and convenience foods, the growing trend of clean label products, and the rising demand for natural preservatives. However, the market is also facing challenges such as regulatory restrictions on the use of certain preservatives, and the increasing demand for preservative-free products.

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