Fort Collins, Colorado, April 30, 2024 (GLOBE NEWSWIRE) --
Increasing preservatives to enhance food quality primarily fuels market growth.
The consistent surge in demand for poultry products is primarily fueled by a shift in consumer preferences toward chicken over beef. This transition is driven by growing environmental concerns associated with beef manufacturing. According to the U.S. Department of Agriculture, poultry has remained the most consumed food over the past two years and is projected to become significant imported livestock in the coming decade. To meet the demand for poultry products, preservatives are commonly injected into poultry animals to enhance shelf life and ensure the meat remains suitable for consumption during exportation, increasing demand for preservatives.
Additionally, there is a noticeable upward trend in meat consumption, driven by its role as a primary source of protein and its perceived benefits for muscle building among fitness enthusiasts. Annual meat consumption is anticipated to reach around 350 million tonnes and could surge to 460 to 570 million tonnes by 2050. Given the high rate of microbial contamination in meat, preservatives like sodium nitrite or potassium nitrite are utilized to extend shelf life without compromising quality, further contributing to the demand for preservatives in the meat industry.
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Segmentation Overview:
The food preservatives market has been segmented into function, type, application, and region.
Synthetic food preservatives registered a significant growth in 2023
- The market is segmented by type as synthetic and natural. Synthetic food preservatives hold a substantial share in the type segment. They are prepared from chemicals and are usually sprayed on food from outside or used while preparing it.
Meat, poultry & seafood are the leading segments and continue to dominate in the forecast years.
- Based on application, the market is segmented as meat, poultry & seafood, beverages, confectionery, bakery, snacks, dairy and frozen products, and others. Meat, poultry & seafood products are major in the application segment. According to the European Food Information Council, meat and seafood products have a high potential for growing microorganisms, and to prevent this, preservatives are added to restrict their growth and increase their shelf life.
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Food Preservatives Market Report Highlights:
- The food preservatives market growth is anticipated at a CAGR of 4.9% by 2032.
- In recent years, there has been a rise in the demand for convenience food such as dairy and packed food products. This is mainly due to people's changing lifestyles, where most individuals prefer to work and hence require ready-to-cook or ready-to-eat meals. To maintain the freshness of these products, many additives, flavors, and preservatives are added to meet the increasing demand.
- North America holds a significant share of the food preservatives market, with the United States having a substantial share in this region.
- Some prominent players in the food preservatives market report include Kerry Group, ADM, DSM, BASF SE, Kemin Industries, Corbion, Jungbunzlauer, Chr. Hansen Holding A/S, Tate & Lyle Plc., and Novozymes A/S.
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