Food Preservatives Market Size & Share to Surpass $3.86 Billion by 2030

WASHINGTON, May 31, 2023 (GLOBE NEWSWIRE) -- The Global Food Preservatives Market is valued at USD 3.1 Billion in 2022 and is projected to reach a value of USD 3.86 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 3.2% over the forecast period 2023-2030.

Market Overview

The citizenry's heavy reliance on prepared foods and the considerable disposable income accompanying them can also be blamed for the market's expansion. The benefits of organic food items have been highlighted in health digests and publications, affecting people's opinions. Due to their mobility and availability, ready-to-eat food products are in high customer demand. This is projected to enhance the need for natural Food Preservatives in the local market.

We forecast that the antimicrobials in the Food Preservatives market sales will account for more than 47% of total sales by 2030. Antimicrobials are the antimicrobial compounds used in Food Preservatives to stop microbes, including bacteria, pathogens, fungi, and nematodes, from causing harm. They can be either synthetic or biological in origin. Antimicrobials are frequently used to protect meat products, such as beef, pork, and chicken, at room temperature by preventing deterioration from germs like bacteria and their enzymes.

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Market Dynamics

Surge in Demand for Clean Label Food Products Support Market Expansion The demand for "clean label" goods has increased with the demand for natural antioxidants, antimicrobials, and other Food Preservatives. More mental well-being shoppers gravitate toward items with clean labelling than those made with artificial substances. Consumers usually inspect the labels to see what's in them. Consumers worldwide expect food items, particularly meat and poultry, to have clean-label components. This increased consumer awareness drives consumers to seek organic chemical preservatives throughout the value chain, up to the ingredients and further down the value chain. The producers of Food Preservatives have modified their processes to create clean-label compounds, which can be useful when creating clean-label products. These clean-label preservatives have uses in a variety of food items as well as other applications.

Increased Demand for Convenience Products Drives Market Growth An opportunity comes for foods with a prolonged shelf life due to the rising demand for convenience goods and the increased attention paid to organic food, which has enhanced the desire for organic Food Preservatives. Demand for organic and chemical-free foods has risen substantially as people become healthier. Manufacturers use more natural preservatives due to concerns about environmental sustainability, which accelerates growth. Globalization, an increasing workforce, increased internet and e-commerce use, and an increasing working population drive demand for organic food products. The constant consumption of synthetic foods damages people's health, raising their awareness of the dangers of these foods, causing them to switch to organic products, and growing the demand for natural Food Preservatives.

Top Players in the Global Food Preservatives Market

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Top Trends in the Global Food Preservatives Market

Top Report Findings

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Recent Developments in the Global Food Preservatives Market

Food & Beverages Category of the Application of the Global Food Preservatives Market Projected to Generate Nearly Half the Total Global Revenue For better understanding, based on the Application, the Food Preservatives market is divided into Food & Beverage, Pharmaceutical, Beauty & Personal Care, and Animal Feed.

The meat, poultry and seafood market were the largest market by application, and it is anticipated to continue to hold the top spot during the projected period. The demand is anticipated to be driven by the global expansion of the processed meat, poultry, and seafood industries throughout the forecast period. Food Preservatives are used in various items, such as dairy, frozen goods, meat and poultry, seafood, drinks, candies, and petroleum-based products. Global demand for these products is rising due to several causes, including shifting consumer lifestyles, increased imports and exports, a preference for fresher foods, and a growth in consumer capacity to pay more for goods.

On the other hand, the Beverages category is anticipated to grow significantly. Due to microbial deterioration, bakery items have a short shelf life, resulting in financial loss and negatively impacting the food product's qualitative attribute. Cardamom, ginger, and thyme flavorings have become popular natural substitutes in bakery applications. Soft drink consumption is rising in volume, with Brazil and Peru leading the way. Over the projected period, it is estimated that the beverage industry, in terms of rapid growth, will increase demand for antibacterial agents.

North America Region of the Global Food Preservatives Market Anticipated to Generate a Substantial Amount of Global Revenue The North American region is anticipated to do so in the coming years. Manufacturers are using Food Preservatives to extend the duration of food product shelf life in response to the growing demand for convenience and processed foods. Also, North America is a significant fruit importer, which raises the demand for preservatives. The demand for natural preservatives has been spurred by awareness of many hazards connected to chemical preservatives. North American rules are very regulated regarding commercializing food goods and ingredients. The introduction of newer preservatives with minimum or no negative impact on human well-being has been made possible by these rules, providing producers with attractive expansion opportunities.

The Asia Pacific region is projected to develop the fastest in the Food Preservatives market. Due to rising manufactured food consumption, particularly in China and India, the region is anticipated to experience significant development. Over the predicted period, the market growth will also benefit from rising disposable cash and evolving lifestyles. Preference for natural ingredients over artificial ones for flavoring has changed due to growing consumer awareness about additives used in Food Preservatives; during the next nine years, this trend is expected to continue to fuel industry growth.

Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Food Preservatives Market Forecast Report (2023-2030).

Global Food Preservatives Market Segmentation

By Application

By Function

By Type

By Region

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