Food Preservatives Market Overview

The Food Preservatives Market is valued at around USD 2,511.5 million in 2022 and is expected to reach USD 3,671.7 million by 2030, registering a CAGR of 3.4% over the forecast period. Products used in food processing to improve stability and prevent spoiling are known as food preservatives. Depending on the necessity, they are added in modest amounts to a variety of foods. In the past, meat and other foods were preserved with salt, sugar, and spices.

Food preservatives stop bacteria from growing, which delays or inhibits food spoiling. They are divided into two categories based on their level of toxicity non-toxic and moderately toxic. The European Food Safety Authority (EFSA) and the U.S. Food and Drug Administration (FDA) are two regulatory agencies that govern moderately harmful preservatives. They are identified by their appropriate index (INS or E) numbers, while non-toxic preservatives can be used in processing.

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Food Preservatives Market Dynamics

Market Drivers: Growing demand for food products with an extended shelf life

Global urbanization and employment growth have significantly altered consumer lifestyles and eating patterns. Thus, consumers are searching for food items with a longer shelf life, ease of preparation, and ease of consumption. In addition to keeping food fresh, food preservatives greatly increase the shelf life of food. Food Preservatives Market are therefore in greater demand in the food and beverage industry as a result of consumers' desire for foods with longer shelf lives. This is due to the fact that food makers benefit from preservatives in terms of competitive cost and effective storage. Furthermore, health concern has increased since the epidemic, which is helping to propel the market for natural preservatives like citric acid and rosemary extracts.

Growth Factors

• Busier lifestyles lead to a greater demand for processed, simple foods with longer shelf lives.
• Creative packaging can reduce the need for preservatives by increasing shelf life.
  When food is carried great distances, preservatives keep it safe and of high quality.
  
  
• Online grocery shopping has led to a demand for products with longer shelf lives. Preservatives reduce food waste by extending shelf life.

• In developing countries, the demand for preservatives and processed foods is driven by rising disposable incomes.

The Food Preservatives Market Segmentation

On the basis of label, the Food Preservatives Market is bifurcated into:

• Clean label
• Conventional
• Others

On the basis of type, the market is segmented into:

• Natural- edible oil, rosemary extracts, natamycin, vinegar, chitosan
• Synthetic- propionates, sorbates, benzoates
• Others

On the basis of function, the market is segmented into:

• Anti-microbial
• Anti-oxidant
• Others

On the basis of application, the Food Preservatives Market is segmented into:

• Meat and poultry products
• Bakery products
• Dairy products
• Beverages
• Snacks
• Others

The Food Preservatives Market Key players

• Albemarle Corporation,
• Archer Daniels Midland Company,
• BASF SE,
• Cargill Incorporated,
• Celanese Corporation,
• Corbion N.V.,
• Dupont De Nemours Inc.,
• Galactic S.A.,
• Jungbunzlauer Suisse AG,
• Kemin Industries Inc.,
• Koninklijke DSM N.V. and Tate Lyle PLC.,

Growth of the Processed Food Industry

The market for food preservatives is heavily influenced by the increased globalization of the Food Preservatives Market sector. Preservatives are in greater demand as consumers want for quick, long-lasting food solutions to ensure product safety and quality. One example of this trend is the rise in frozen meals and snack foods, which mostly depend on preservatives to keep them fresh and prolong their shelf life. This highlights the vital function that preservatives play in the food supply chain.

Restraints/Challenges

High Price of Natural Preservatives

For food makers trying to strike a balance between competitive pricing and satisfying consumer demands, the higher prices of natural preservatives relative to synthetic alternatives pose a serious challenge. This financial obstacle restricts the Food Preservatives Market for food preservatives' ability to flourish by preventing the broad use of natural substitutes.

Extended Shelf-life Requirements

Manufacturers are faced with the difficulty of finding preservative solutions that satisfy safety and convenience requirements while following to clean-label trends and regulations due to the Food Preservatives Market growing demand for longer shelf-life. Because traditional preservatives might not be in line with these changing customer tastes and legal requirements, this pressure could impede market growth by encouraging a move toward alternative preservation techniques.

Opportunities: Clean-label trend across global food markets

Recent studies and polls indicate that people are becoming more inclined to study product labels and favor clean food ingredients. This is due to the fact that consumers today are always trying to find ways to include fresh, natural, healthy, and balanced food. The food preservatives industry's manufacturers are therefore focused on discovering clean-label products and market innovations. Innovation in natural preservatives is therefore booming in the sector. In order to concentrate on the creation of novel formulations and advancements in the food and beverage sector, market participants are anticipated to benefit greatly from the growing trend toward clean-label products.

Restraints: Growing demand for organic food

Because of the increased awareness of healthy eating, organic sales have increased dramatically over the past ten years, particularly in North America and Europe. The US Department of Agriculture (USDA) forbids the use of artificial coloring, flavoring, and preservatives in organic goods. Customers who purchase organic food goods also eat them fresh, which reduces the need for lengthier food storage and eliminates the need for preservatives. Even though there is less of a demand overall for organic food than for non-organic food, the Food Preservatives Market for food preservatives can be held back by the notable increase in demand for organic food.