Usage of Preservatives in Various Applications Is Expected To Foresee a Substantial Growth over Forecast Period

The global food preservatives market is expected to reach USD 3.2 billion by 2025, according to a new report by Grand View Research, Inc. Fast-paced working lifestyle of consumers in North America and Asia Pacific has led to increased demand for ready-to-eat food. As a result, to prevent food spoilage and increase their shelf life, demand for food preservatives has increased.

Food preservation is a traditional method used to store and keep food safe from contaminants for longer duration. With time, preservation methods have evolved from culinary salt and sugar to chemical types. Globalization has led to increased demand for synthetic preservatives. Usage of preservatives in various applications such as processed meat, bakery, and dairy is expected to foresee a substantial growth over the forecast period.

Food preservatives are categorized into two types: natural and synthetic. Natural types include rosemary extracts, vinegar, and natamycin whereas propionates, benzoates, and sorbates are the most preferred synthetic variants. Ill effects associated with synthetic preservatives, coupled with growing health consciousness among consumers, is driving demand for natural preservatives.

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Functionally, anti-microbial preservatives are estimated to dominate the market in terms of revenue owing to an increased demand for anti-microbial agents in the processed meat and beverage industries.

Further key findings from the report suggest:

• Asia Pacific is expected to witness fastest growth with a CAGR of 5.0% over the forecast period owing to factors such as increase in population, consumer willingness to pay premium price for organic products, and consumer preference for ready-to-eat meals

• North America was the largest regional market in terms of revenue in 2016 and is estimated to be valued at USD 1.04 billion by 2025. Players such as Bavaria Corporation International, Biosecur Lab, Inc.; Prinova Group, LLC, Kalsec, Inc.; and DowDuPont, Inc. operate in North America and provide natural as well as chemical preservatives

• Asia Pacific is the most attractive market for manufacturers owing to significant growth in application sectors such as bakery, beverages, confectionery, processed meat, poultry, and seafood. This region is also expected to exhibit the fastest growth rate over the forecast period

• The U.S. food preservatives market was valued at USD 350.30 million in 2016 and is estimated to reach USD 455.78 million by 2025. Manufacturers in this region are shifting from synthetic to natural types of preservatives

• Key players such as Galactic S.A.; Kemin Industries, Inc.; and Prinova Group, LLC have made a successful entry in the market whereas manufacturers such as Royal DSM N.V.; Akzo Nobel N.V.; BASF SE; Celanese Corporation; and Cargill Inc. have a prominent and established presence in the global market.

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