Food Preservatives Market Valued at $2,511.5 Million in 2022, Expected to Reach $3,671.7 Million by 2031; Growing at a CAGR of 3.4%

Global Food Preservatives market was valued at $2,511.5 million in 2020, and is projected to reach $3,671.7 million by 2031, registering a CAGR of 3.4% from 2022 to 2031.

Natural preservatives are in high demand in a variety of applications, including meat, poultry, and seafood, as well as bakery and confectionery. Owing to severe laws on synthetic preservatives, demand for natural preservatives is likely to rise throughout Asia-Pacific in the near future.

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Preservatives are used in a variety of items to reduce oxidation, prevent food spoiling, and suppress microbiological development, including bakery, confectionery, snacks, meat, fish, poultry, and others. Antimicrobials, antioxidants, chelating agents, and other forms of preservatives are examples. Regulatory organizations set various restrictions on the use of food preservatives. The FDA has controlled the concentration range of preservatives that can be applied to food products and prohibited the use of compounds that are hazardous to human health.

Changes in people's lifestyles and various consumer trends toward the use of ready-to-eat food products drive the expansion of the worldwide food preservatives industry. The food and beverage processing industry has had a significant impact on the food preservatives market. Furthermore, expansion in bakery, confectionery, meat, and poultry applications is projected to drive food preservative demand in the near future. However, tight rules in governing the use of chemical preservatives in many places, as well as surge in consumer awareness about the usage of these chemicals, are projected to stymie market growth in the foreseeable future.

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Asia-Pacific and North America collectively accounted for approximately three-fifths share of the total food preservatives market and are expected to continue to be dominant, specifically in China, India, and the other developing countries. Rise in food processing sector is the major reason for the growth of the market in the Asia-Pacific.

The major companies profiled in the report include Danisco A/S, Akzo Nobel N.V., Kemin Industries, Inc., Cargill, Incorporated, Hawkins Watts Limited, Celanese Corporation, Univar Inc., and Koninklijke DSM N.V.

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