Chicago, Jan. 04, 2024 (GLOBE NEWSWIRE) -- The Global Green Preservatives Market is projected to grow from USD 1.1 billion in 2023 to USD 1.5 billion by 2028, at a CAGR of 7.1% from 2023 to 2028, as per the recent study by MarketsandMarkets™. Green Preservatives, commonly referred to as natural preservatives, are made mostly of natural sources that are used to prolong product shelf life while reducing the need for artificial or chemical preservatives. They are better for the environment and safer. Green preservatives are in high demand due to customer preferences shifting towards natural and clean-label products as well as rising knowledge of the possible health and environmental dangers linked to synthetic preservatives. Green preservatives are used in various industries such as food & beverage, personal care & cosmetic, cleaning industry (household cleaning & industrial cleaning), pharmaceutical, and others (agriculture, horticulture, water treatment, and textiles).
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Browse In-Depth TOC On "Green Preservatives Market”
252 - Market Data Tables
53 - Figures
228 - Pages
List of Key Players in Green Preservatives Market:
- Kerry Group (Ireland)
- Kemin Industries, Inc. (US)
- Corbion N.V. (Netherlands)
- LANXESS SE (Germany)
- BASF SE (Germany)
- International Flavors & Fragrances Inc. (US)
- Dow Inc. (US)
- DSM-Firmenich AG (Netherlands)
- Symrise AG (Germany)
- Givaudan SA (Switzerland)
Drivers, Restraints, Opportunities and Challenges in Green Preservatives Market:
- Drivers: Growing popularity of organic and clean label products.
- Restraints: Limited availability of green preservatives.
- Opportunity: Expansion into new application.
- Challenges: Competition from synthetic preservatives.
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Key Findings of the Study:
- Natural preservative segment is estimated to be the fastest-growing type for green preservatives market during the forecast period 2023 to 2028.
- Food & beverage segment is estimated to be the largest application in green preservatives market in 2022, in terms of value.
- North America was the largest region for the green preservatives market in 2022, in terms of value.
The green preservatives market is projected to be experiencing significant growth in the forecasted period. The natural preservative segment is estimated to be the fastest-growing segment in the green preservatives market due to the emergence of novel natural preservatives and advances in green technology. The effectiveness and durability of natural preservatives have increased due to continued research and technical developments, increasing their suitability for a wider range of applications. As sustainability becomes a key component of both consumer preferences and business goals, the natural preservative segment is anticipated to maintain its growth trajectory. As continued research and development, it is expected that this industry will become even more cutting-edge, providing a greater range of superior, eco-friendly substitutes for conventional synthetic preservatives.
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Based on type, the green preservatives market is segmented as natural preservative, organic acid, essential oil, and others. Natural preservative stands out as the largest segment in terms of value, globally. The dominance of natural preservative in the green preservatives market has been largely fueled by technological advancements in the sector. This domination is attributed to the rising demand for eco-friendly preservatives in industries such as food & beverage, personal care & cosmetic, cleaning industry, pharmaceutical, and others. Furthermore, the natural preservative segment is forecasted to exhibit the highest CAGR in terms of value during the forecast year 2023 and 2028.
Based on end-use industry, the green preservatives market has been categorized into various segments including food & beverage, personal care & cosmetic, cleaning industry, pharmaceutical, and others. Notably, the food & beverage segment emerged as the market leader in 2022 and is anticipated to maintain its dominant position through 2028. Furthermore, the personal care & cosmetic segment is forecasted to exhibit the second highest CAGR in terms of value during the forecast year 2023 and 2028. Plenty of factors, such as changing consumer preferences, sustainability imperatives, regulatory dynamics, and technological advancements as the market for natural, sustainable, and clean label products grows, have contributed to the food and beverage industry's leadership in the green preservatives market.
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