Food Preservatives Market to Hit USD 5.7 Billion by 2033 - FMI Forecasts Explosive Growth

The food preservatives market refers to the industry involved in the production and distribution of substances used to prevent food spoilage and extend its shelf life. Food preservatives are added to various food products to inhibit the growth of bacteria, yeast, and molds, thereby maintaining their freshness, quality, and safety.

The market for food preservatives has witnessed significant growth over the years due to several factors. Firstly, with the increasing global population and changing consumer lifestyles, there is a rising demand for convenient and ready-to-eat food products. Food preservatives play a crucial role in ensuring that these products remain safe and edible for longer durations.

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Additionally, the expansion of the processed food industry and the growth of e-commerce platforms have further fueled the demand for food preservatives. These preservatives help in preserving the texture, flavor, and nutritional value of processed foods, which often undergo extended storage periods and long-distance transportation.

The global food preservatives market is predicted to register a CAGR of 6.8% over the forecast period, as per FMI's analysis. The industry's market valuation is anticipated to increase from USD 2,965.62 million in 2023 to USD 5,725.70 million by 2033 end.

As the clean label movement is in full vigor, consumer curiosity and awareness about food ingredients have heightened. As a result, key manufacturers of food preservatives in the market are adopting a natural approach to keep food fresh for long periods. The continuous use of food preservatives in food production is a primary factor, which is positively influencing the market growth. Numerous benefits of food preservation are motivating market expansion.

Food preservation minimizes food wastage owing to less food spoilage, and warrants food safety via antimicrobial protection. The technique helps extend shelf-life while maintaining fresh taste and quality. Many companies in the market are offering an array of clean-label preservation solutions to provide significant advantages to customers. For instance, Kerry Group plc offers UpGrade, DuraFresh, and Accel.

With the incorporation of clean-label preservatives, food manufacturers can differentiate their products, claim to have used no artificial preservatives, and overcome shelf-life obstacles. The market is teeming with new opportunities to expand as new-age customers are seeking natural ingredients in their meals, and less processed, natural foods.

Key Highlights:

The United States is projected to lead the market arena over the forecast period. As consumers are avoiding traditional preservatives like nitrate and sodium nitrite, the scope of clean-label food preservatives is expanding in the country.
China is projected to be a significant player in the Asia-Pacific food preservatives market. The surging applications of food preservatives in meat, bakery and customized solutions are projected to augment the market growth.
The growth of the food preservatives industry in India is characterized by the increasing demand for clean-label preservation ingredients to replace traditional lactates, traditional sodium nitrite salts, and diacetates in meat.
Synthetic preservatives hold a large share of the market. However, natural preservatives are exhibiting increasing demand due to their acceptance by regulatory agencies for processing purposes.

Latest Market Developments:

In November 2022, Kemin Industries, Inc. developed a nitrite substitute to be used in the first phase of emulsified cooked sausages. The label-friendly ingredient, Rubinite GC Dry, offers food safety and is available in Europe, the Middle East, and Africa region for food producers.

In April 2022, Kemin Industries, Inc. announced that it is researching how different ingredients have antimicrobial activity, which can attain a clean label, and maintain the freshness and safety of the product. With this research, the company aims to analyze the way certain ingredients impact the shelf life and pH of sauces and dressings.

In August 2021, Conagen, Inc. presented a new product in the market, i.e., 'p-Coumaric Acid' (PCA). This product is a clean-label and natural preservative that is developed by fermentation.

In July 2021, DSM declared that it is extending its portfolio of Dairy Safe cheese biopreservation, by selecting new phage-robust culture rotations.

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Key Market Segmentation

By Label:

Clean Label
Conventional
By Type:

Synthetic
Natural

By Function:

Antioxidants
Antimicrobial
Others

By Application:

Meat & Poultry Products
Bakery Products
Dairy Products
Beverages
Snacks
Others

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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.