Food Preservatives Market Size is expected to Surpass $4.65 Billion by 2030, with a CAGR of 5%, Strategic Market Research

New York, USA, Dec. 22, 2022 (GLOBE NEWSWIRE) -- The Worldwide Food Preservatives market in 2021 was USD 3 billion, and it will reach USD 4.65 billion by 2030 at a 5% CAGR. In order to prevent spoiling, food preservatives are included to the food during manufacturing. They help preserve food, extend its shelf life, reduce waste, ensure safety, and improve supply. Sugar, calcium propionate, salt, nitrites, butylated hydroxyl toluene (BHT), vinegar, citric acid, butylated hydroxyanisole (BHA), and tert-butyl hydroquinone are some of the frequently used preservatives.

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The Food Preservatives Market Insights: 

• On the basis of label, the conventional segment held the largest market in 2021 with 65.0% of the revenue share.
• In 2021, the synthetic type segment considerably ruled the entire market with 65.0% of revenue share on the basis of type.
• By function, the anti-microbial segment held a maximum market position with a share of 75.0% in 2021.
• The meat and poultry Segment maintained the highest position in the market with 30.0% of the share in 2021 by application.
• In 2021, North America contributed a maximum market share of nearly 30.0%.
  
  

Factors influencing the Food Preservatives Market growth: 

Factors like the growing rate of food borne illness and rising demand for food with longer shelf life are stimulating market expansion. 

• Increased work hours have had a substantial impact on consumer lifestyles and, consequently, eating habits. These changes necessitate the development of food products that are convenient to consume and have a longer shelf life. As a result, food preservatives are becoming more significant in the food and beverage business. The growing demand for products with extended shelf life has had a favorable effect on the food processing industry.
  
  
• The food and beverage industry is threatened by food borne illness. Ineffective preservation methods and ingredients can lead to food borne diseases caused by bacteria, viruses, and microbes. Customers desire food products that are effectively maintained due to the frequency of food borne illnesses and increased public awareness of the need to keep a healthy lifestyle. 
  
  

Food Preservatives Market Segmentation Analysis

The market segmentation of food preservatives is done on the basis of label, type, function type, application type, and region.

By Label Type

• Clean Label
• Conventional

By Type

• Natural
  
  
  • Chitosan
    
    
  • Natamycin
  • Rosemary Extracts
  • Vinegar
  • Edible Oil
  • Others
•  Synthetic
  • Sorbates
  • Benzoates
  • Propionates
  • Others
    
    

By Function Type

• Anti-microbial
• Anti-oxidant
• Others
  
  

By Application Type

• Snacks
• Dairy Products
• Beverages
• Meat & Poultry Products
• Bakery Products
• Others

 For Region

North America

• Canada
• Mexico
• United State
  
  

Europe

• Spain
• France
• Italy
• Germany
• U.K.
  
  

Asia Pacific

• China
• Australia
• Japan
• India

Central & South America

• Federative Republic of Brazil
  
  

Middle East & Africa

• Republic of South Africa
  
  

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On the basis of label, the conventional segment held the largest market in 2021 with 65.0% of the revenue share. The use of conventional food preservatives can be done on their own or in combination with other preservation methods. The most common conventional preservative is antioxidant, which functions as an oxygen absorber and antimicrobial preservative and prevents the growth of bacteria and fungi.

In 2021, the synthetic type segment considerably ruled the entire market with 65.0% of revenue share on the basis of type. Synthetic type preservative is cost-effective and simple to formulate. Among the synthetic category, sorbates held the largest market share in 2021 because it is extensively utilized in meat, poultry, and dairy products. Nitrates, propionates, and benzoates are also extensively used in synthetic types. 

By function, the anti-microbial segment held a maximum market position with a share of 75.0% in 2021. Antimicrobials are mostly used to stop food from getting worse due to oxidative damage. Fungi and bacteria are common elements found in various types of food, and microbial composition plays an important role in protecting food from these germs. The widespread usage of antimicrobials in personal care and cosmetics products is another factor fostering the market's expansion.

The meat and poultry Segment maintained the highest position in the market with 30.0% of the share in 2021 by application. The global expansion of the processed meat, seafood, and poultry industries throughout the forecast period will drive the demand for this market segment.

In 2021, North America contributed a maximum market share of nearly 30.0%. An increase in food product consumption in Canada, the United States, and Mexico drives the North American market. Existing bakeries and a rise in processed meat consumption will aid the development.

Food Preservatives Market Report Coverage

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Key players in the Food Preservatives Market:

• Cargill, Inc.
• Kerry
• ADM
• Galactic S.A.
• Celanese Corporation
• Kemin Industries, Inc.
• BASF SE
• Corbion N.V.
• Tate & Lyle
  
  

Recent Developments

• On December 2022, The first science-based baby food company, Cerebelly, said today that it had been granted a U.S. patent for combining 16 essential nutrients to support healthy child neurodevelopment.
  
  
• On December 2022, FDA approved Thea Pharma's efforts to remove preservatives from latanoprost formulations for the treatment of open-angle glaucoma and ocular hypertension, allowing the company to introduce a unique alternative to the market's current eye drops.
  
  

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