Green Preservatives Market worth $1.5 billion by 2028 | Key players Kerry Group (Ireland), Kemin Industries, Inc. (US), Corbion N.V. (Netherlands), LANXESS AG (Germany), BASF SE (Germany).

According to recent market research the "Green Preservatives Market by Type (Natural preservative, Organic Acid, Essential Oil), End-use Industry (Food & beverage, Personal Care & Cosmetic, Industrial Cleaning, Household Cleaning, Pharmaceutical), and Region - Global Forecast to 2028", size was USD 1.1 billion in 2023 to USD 1.5 billion by 2028, at a CAGR of 7.1% from 2023 to 2028. Green Preservatives, commonly referred to as natural preservatives, are made mostly of natural sources that are used to prolong product shelf life while reducing the need for artificial or chemical preservatives. They are better for the environment and safer. Green preservatives are in high demand due to customer preferences shifting towards natural and clean-label products as well as rising knowledge of the possible health and environmental dangers linked to synthetic preservatives. Green preservatives are used in various industries such as food & beverage, personal care & cosmetic, cleaning industry (household cleaning & industrial cleaning), pharmaceutical, and others (agriculture, horticulture, water treatment, and textiles).

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The green preservatives market is projected to be experiencing significant growth in the forecasted period. The natural preservative segment is estimated to be the fastest-growing segment in the green preservatives market due to the emergence of novel natural preservatives and advances in green technology. The effectiveness and durability of natural preservatives have increased due to continued research and technical developments, increasing their suitability for a wider range of applications. As sustainability becomes a key component of both consumer preferences and business goals, the natural preservative segment is anticipated to maintain its growth trajectory. As continued research and development, it is expected that this industry will become even more cutting-edge, providing a greater range of superior, eco-friendly substitutes for conventional synthetic preservatives.

The food & beverage segment is estimated to be the largest application in green preservatives market in the forecasted year due to several factors. The dominance of the food & beverage segment in the green preservatives market is driven by a combination of increased consumer demand, environmental sustainability, and other factors. Green preservatives are being used more often in the food and beverage industry to preserve product quality and freshness without compromising the safety. These green preservatives prolong the shelf life of food and beverage goods by inhibiting oxidation, microbiological growth, and spoilage of food. The green preservatives market in the food & beverage segment is projected to rise in the forecast year.

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The North America region's prominence as the largest market for green preservatives can be attributed to a convergence of economic, industrial, and cultural factors. The market dominance of North America in the green preservatives market can be attributed to the existence of key players who have made a solid regional footprint. These players, with their vast R&D departments, strong distribution networks, and strategic collaborations, have been essential in propelling the adoption of green preservatives. This combination of economic growth, industrial competence, and consumer preferences has firmly established North America as the largest market for green preservatives.

The key market players identified in the report are Kerry Group (Ireland), Kemin Industries, Inc. (US), Corbion N.V. (Netherlands), LANXESS AG (Germany), BASF SE (Germany), International Flavors & Fragrances Inc. (US), Dow Inc. (US), DSM-Firmenich AG (Netherlands), Symrise AG (Germany), Givaudan SA (Switzerland), and Clariant AG (Switzerland).

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Kerry Group is a multinational company known for its diverse range of products. The company has a strong presence in the green preservatives market. The company serves various end-use industries such as food & beverage, personal care & cosmetic, cleaning industry, pharmaceuticals, and others. The green preservatives section of Kerry Group is renowned for its creativity and commitment to research and development. For instance, in September 2021, Kerry Group has announced its acquisition of Niacet. The company's growth is accelerated through this acquisition, which also adds complementary technology to reinforce its leadership position. With a wider range of preservation options and cutting-edge food safety methods to complement its comprehensive taste and nutrition portfolio, Kerry Group will be better equipped to tackle the most challenging food safety problems. This acquisition will help the company to develop infinite possibilities in the green preservatives market.

Kemin Industries, Inc. is a key player in the green preservatives market, known for producing and supplying green preservatives materials for various uses. They prioritize research and development to meet the rising demand in diverse industries such as food & beverage, personal care & cosmetic, cleaning industry, pharmaceuticals, and others. One of the top manufacturers of green preservatives, Kemin Industries, Inc., the company's commitment to innovation, sustainability, and product quality positions them as a leading contributor to the green preservatives market's growth and development. The company is focused on expanding its green preservatives segment to satisfy consumer demand. For instance, in April 2021, Kemin Industries, Inc. has announced its acquisition of Proteous Industries Inc. with which the company's food technologies range of ingredient solutions gains access to sustainable clean label yield increase technologies.

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