What is the global market size of Food Preservatives Market?

Global Food Preservatives Market size was valued at USD 3.15 Billion in 2021 and is poised to grow from USD 3.27 Billion in 2022 to USD 4.38 Billion by 2030, growing at a CAGR of 3.7% in the forecast period (2023-2030).

Food Preservatives Market Size, Share, Growth Analysis, By Function Sub-Segments Antimicrobials, Antioxidants, Sodium Propionate, Calcium Propionate and Others(Bakery, Meat, Poultry, and Seafood), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30C2120 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 43 | Figures: 71

Food Preservatives Market Insights

Global Food Preservatives Market size was valued at USD 3.27 Billion in 2022 and is poised to grow from USD 3.39 Billion in 2023 to USD 4.38 Billion by 2031, growing at a CAGR of 3.7% in the forecast period (2024-2031).

The use of food preservatives extends across a spectrum of consumables including snacks, confectioneries, bakery products, dairy, meat, and poultry items. The global demand for these preserved products is on the rise, driven by several factors reshaping consumer preferences and market dynamics. Shifts in customer lifestyles, characterized by busy schedules and an inclination towards convenience, contribute to the increasing demand for preserved foods that offer longer shelf life and convenience without compromising taste or quality.

Additionally, the expanding market, facilitating the movement of preserved goods across borders, plays a role in driving this demand. Consumers' growing preference for fresh products also paradoxically contributes to the demand for preserved items, as they seek out convenience without compromising quality.

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The competitive environment of the global Food Preservatives Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Hawkins Watts Limited', 'DSM', 'Cargill, Incorporated', 'Kemin Industries, Inc.', 'Univar Inc.', 'Tate & Lyle', 'Galactic', 'DuPont', 'Brenntag Solutions Group, Inc.', 'ADM (Archer Daniels Midland Company)', 'BASF SE', 'Corbion', 'Celanese Corporation', 'Kilo Ltd', 'AJINOMOTO CO., INC.', 'Prinova Group LLC', 'Jungbunzlauer Suisse AG'

A significant driving force behind the growth of the global food preservatives market is the rising consumer inclination towards processed and convenient food options. Rapid urbanization and increasingly hectic lifestyles have spurred a greater reliance on ready-to-eat and packaged foods, thereby amplifying the demand for food preservatives. These preservatives play a pivotal role in extending the shelf life of products and ensuring their safety amidst the challenges of transportation and storage. Notably, this trend is particularly prominent in emerging economies across Asia and Africa, where the processed food sector is experiencing rapid expansion.

The escalating consumer inclination toward clean-label and natural products within the food industry has surfaced as a significant opportunity for companies to drive innovation and meet these evolving preferences. This notable shift in consumer behavior underscores a growing demand for transparency and authenticity in food products. This trend signals a shift towards transparency and healthier choices, prompting companies to develop and introduce food preservatives aligned with these preferences. Natural alternatives such as vinegar, citrus extracts, and plant-derived compounds have gained traction as clean-label preservatives, offering effective and consumer-friendly alternatives to traditional synthetic additives.

North America's projection to forefront the food preservatives market is underpinned by the region's robust processed food industry, significantly reliant on preservatives to uphold extended shelf life and uphold stringent food safety standards. The United States has a multitude of prominent food processing entities and they operate within a well-structured regulatory framework governing the use of food preservatives.

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Food Preservatives Market Size, Share, Growth Analysis, By Function Sub-Segments Antimicrobials, Antioxidants, Sodium Propionate, Calcium Propionate and Others(Bakery, Meat, Poultry, and Seafood), By Region - Industry Forecast 2024-2031

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