Food Preservatives Market Anticipated Growth Expected to Reach USD 3,671.7 million By 2031, Boasting a 3.4% CAGR Over the Forecast Period 2022-2031

Food Preservatives Industry 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.

Preservatives are commonly added to a wide range of products including baked goods, confectionery, snacks, meat, fish, poultry, and more to slow down oxidation, extend shelf life, and inhibit microbial growth. These include various types such as antimicrobials, antioxidants, and chelating agents. Regulatory bodies impose strict guidelines on the use of preservatives in food. For instance, the FDA regulates the allowable concentration levels of preservatives and bans substances that pose health risks to consumers.

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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.

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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Increased consumer awareness and change in food consumption habits, and rise in population boost demand for various areas of the food and beverage industry drive the food preservative market. Increased demand for natural food preservatives in established economies, as well as increased need for processed food in emerging areas, drives this growth.

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.

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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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