Food Preservatives Market Analysis, Growth Strategies And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Food Preservatives Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The food preservatives market size has grown steadily in recent years. It will grow from $2.81 billion in 2023 to $2.94 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to increased consumer demand for processed and convenience foods, need for food shelf-life extension and preservation, growth in the food and beverage industry globally, concerns about food safety and spoilage prevention, regulatory approval and safe usage of food preservatives, demand for natural and clean label food preservation solutions.

The food preservatives market size is expected to see steady growth in the next few years. It will grow to $3.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to adoption of plant-based and naturally derived preservatives, emphasis on eco-friendly and sustainable preservative ingredients, research and development in next-generation preservative technologies, demand for preservatives in organic and natural food products, expansion of preservative applications in meat and poultry processing, growing interest in combination preservative systems for enhanced efficacy. Major trends in the forecast period include natural antimicrobial extracts, antioxidant preservatives, plant-derived essential oils, combination preservative systems, emerging technologies like pulsed electric fields (pef), nanotechnology in food preservation.

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Market Drivers and Trends:

The increasing consumption of ready-to-eat food owing to busy lifestyles is expected to propel the growth of the food preservatives market in the coming years. Ready-to-eat food uses various kinds of natural and artificial preservatives to minimize the chances of spoilage due to microbial reactions and boost food quality. The higher demand for processed or ready-to-eat food is due to the increasing working population that prefers to consume convenient food rather than cooking it at home. For instance, , in 2021, a survey by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), a non-governmental trade association and advocacy group, shows that about 79% of Indian households prefer to have instant food due to time constraints Therefore, the high consumption of ready-to-eat food drives the growth of the food preservatives market.

The growing use of natural preservatives is an emerging trend in the food preservatives market. Consumers are increasingly becoming concerned about the negative impact of preservatives and preferring natural alternatives including organic acids, salt, sugar, and others. Major companies operating in the food preservatives sector are shifting their focus towards natural preservatives solutions to offer a range of clean label preservation to strengthen their position. For instance, in 2021, Kerry Group, an Ireland-based food company expanded its range of clean label preservative solutions to replace traditional sodium nitrite salts to provide safer consumer-friendly preservatives for beverages. The rising development of clean label preservatives is vital to food and drink solutions and determines the success of such products in the market going forward.

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Major Key Players of the Market:

Kerry Group, Dupont De Nemours Inc., Badische Anilin- und Sodafabrik SE, Cargill Incorporated, Celanese Corporation, Corbion N.V, Archer Daniels Midland Company, Galactic SA, Kemin Industries Inc., Koninklijke DSM NV, Tate & Lyle PLC, Brenntag Solutions Group Inc., Albemarle Corporation, Akzo Nobel NV, Univar Inc., Danisco A/S, Hawkin Watts Ltd., ABF Ingredients Ltd., Ajinomoto Co Inc., Jungbunzlauer Suisse AG, Grupo Bimbo SAB de CV, Hansen Holding A/S, Royal DSM NV, Naturex SA, DuPont Company, Emanuel Merck Darmstadt, Brenntag Inc., MAYASAN Food Industries AS, BTSA Biotecnologías Aplicadas SL, Siveele BV, Kalsec Inc.

Food Preservatives Market 2024 Key Insights:

• The food preservatives market size is expected to see steady growth in the next few years. It will grow to $3.58 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%.
• The Role Of Food Preservatives In The Ready-To-Eat Food Revolution
• The Growing Importance Of Natural Preservatives In The Food Preservatives Market
• North America was the largest region in the food preservatives market in 2023

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