Food Preservatives Market to Witness Steady Expansion During 2024 - 2031 | BASF SE, Kerry Group Plc, Kemin Industries

Market Overview:

Global food preservatives market is estimated to be valued at USD 3.47 Bn in 2024 and is expected to reach USD 4.72 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.

Market Dynamics:

The food preservatives market is expected to witness significant growth over the forecast period, driven by increasing demand for processed and packaged foods owing to changing lifestyles. Rising awareness regarding food-borne diseases has boosted the demand for effective preservation techniques to prevent spoilage. Further, preservatives allow extending the shelf life of products without compromising on quality and safety, enabling year-long availability. Growing population and rapid urbanization in developing nations have augmented the demand for pre-packaged convenient food items, further fueling the market growth. However, stringent regulations regarding permissible limits of certain preservatives may restrain the market to some extent.

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Growth in packaged food industry is a major driver for food preservatives market

The packaged food industry has seen tremendous growth globally over the past few decades. According to data, the global packaged food market was valued at over USD 2.5 trillion in 2019 and is estimated to grow at a CAGR of over 5% during 2020-2025. Manufacturers in the packaged food industry widely use preservatives to prevent spoilage and lengthen the shelf-life of food products. Common food items that use preservatives include packaged snacks, baked goods, ready-to-eat meals, dairy products and more. With rising demand for convenience foods and changing lifestyles driving packaged food consumption worldwide, the need for effective preservation methods and thus preservatives continues to grow proportionately.

Increase in consumption of processed meat and seafood expands requirement of food preservatives

The global processed meat and seafood market has also witnessed significant growth worldwide. Factors such as busy modern lifestyles, increasing population, rising disposable income levels and growing preference for convenience foods are fueling demand for processed meat and seafood products globally. Since these foods are highly susceptible to microbial contamination and spoilage, preservatives play an important role in extending their shelf life without refrigeration. Common preservatives approved for use in processed meat include sodium nitrite, sodium erythorbate, while seafood often contains sulfur dioxide, sodium metabisulfite and others. Hence, the expanding processed meat and seafood industry acts as a major revenue contributor to the food preservatives market.

Demand for natural preservatives provides new opportunities

As concerns over chemical preservatives rise, there is growing consumer preference for 'clean label' and organic products with natural ingredients. This acts as an attractive opportunity for manufacturers of natural food preservatives. Some common natural alternatives gaining ground include plant extracts rich in antioxidants, essential oils with antimicrobial effects, vinegar, salt and others. According to estimates, the natural food preservatives segment is projected to witness the highest growth during the forecast period. Research into novel sources of natural bioactives is helping expand available options. For example, the antifungal properties of chitosan from crustacean shells are finding increasing applications. With more innovations and consumer demand, the market potential for natural preservatives is expected to grow substantially in the coming years.

Sustainability becomes an important trend shaping future of food preservatives industry

In today's environmentally-conscious world, sustainability has become an important trend impacting business strategies across all industries. The food preservatives sector is no exception, as manufacturers are under pressure to adopt greener production methods and offer eco-friendly products. Some of the noteworthy sustainability trends in this domain include increased recycling of processing byproducts, switch to renewable energy sources, reduction of water usage, green chemistry approaches to preserve natural resources and more. Preservative formulators are also investigating ways to develop multifunctional ingredients that provide not just preservation but also nutritional benefits. With sustainability gaining traction, 'green' and environment-friendly credentials are sure to have a significant influence on the future direction and success of companies in the food preservatives market space.

Top Companies Included in This Report:

★ BASF SE
★ Kerry Group Plc
★ Kemin Industries Inc.
★ DuPont Nutrition & Biosciences
★ ADM
★ Foodchem International Corporation
★ Corbion
★ Celanese Corporation
★ Jungbunzlauer Suisse AG
★ Cargill Inc.
★ Kemin Industries Inc.
★ ADM
★ Tate & Lyle
★ Koninklijke DSM N.V.
★ Galactic S.A.
★ Givuadan SA.
★ Mane Kancor Ingredients Pvt. Ltd.
★ Synthite Industries Ltd.
★ International Flavors & Fragrances Inc.
★ Arjuna Natural

Market Segmentation:

Based on Product Type:

★ By Source: Natural and Synthetic
★ By Functionality: Anti-Oxidants and Anti-Microbial

Based on Applications:

★ By Application: Dairy Products, Meat, Poultry and Sea Food, Bakery, Beverages, Others (Confectionery, etc.)

Key Regions/Countries Classified as Follows:

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
South America (Brazil, Argentina, Rest of SA)
Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
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Latest Trends in the Navigation Food Preservatives Market:

Surging Demand: Witness a rising demand for navigation Food Preservatives owing to the escalating usage of GPS-enabled devices and the imperative for precise, up-to-date mapping data.

Innovations in Technology: Witness the emergence of novel technologies aimed at enhancing the precision and dependability of navigation Food Preservatives, encompassing real-time traffic updates, 3D mapping, and augmented reality.
Tailored Solutions for Diverse Industries: Companies are tailoring navigation Food Preservatives solutions to cater to the distinct requirements of various sectors such as automotive, aviation, and maritime.

Fusion with Emerging Technologies: Observe the integration of navigation Food Preservatives with cutting-edge technologies like artificial intelligence and the Internet of Things, facilitating the provision of advanced functionalities.

Rise of Mobile Applications: Experience the proliferation of navigation Food Preservatives in the form of mobile applications, offering enhanced convenience and accessibility to users.

Emphasis on Environmental Sustainability: Witness the development of navigation Food Preservatives systems that consider environmental factors such as traffic congestion and air quality, fostering the provision of sustainable transportation alternatives.

Report Highlights:

Evaluation of Navigation Food Preservatives Market Share at Country and Regional Levels.
Strategic Landscape Analysis, Highlighting Key Trends.
Examination of Navigation Food Preservatives Market Trends, Including Product and Technological Insights, Drivers and Constraints, and PORTER's Five Forces Analysis.
Strategic Recommendations for Key Business Segments Based on Market Assessments.
Guidance Tailored for New Entrants.
Market Forecasts for All Identified Segments, Sub-segments, and Regional Markets in the Navigation Food Preservatives Sector.
Frequently Asked Questions (FAQs) for Global Navigation Food Preservatives Market Research:
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