The global Food Preservatives market was valued at 2.80 billion in 2019 and is projected to reach USD3.32 billion by 2027, growing at a CAGR of 2.3% from 2020 to 2027.
The rising demand for convenience foods is boosting the demand for food preservatives. The ability of food preservatives to improve the shelf life of final product along with maintaining the quality is boosting the demand for food preservatives. However, stringent regulations against synthetic preservatives is expected to slow down market growth.
1. Market Drivers
1.1 Growth in demand for convenience foods
1.2 Increase in use of natural preservatives on meat and poultry in Europe and North America
2. Market Restraints
2.1 Demand for organic food products
2.2 Use of preservation techniques
The global Food Preservatives market is segmented on the type, function, application, and region.
1. By Type:
1.1 Natural Preservatives
1.1.4 Edible Oil
1.1.7 Rosemary Extracts
2. By Function:
3. By Application:
3.2 Fats and Oils
3.6 Seafood, Meat and Poultry
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
1. Danisco A/S
2. AkzoNobel NV
3. Univar Inc.
4. Kemin Industries Inc.
6. Hawkins Watts Limited
8. Koninklijke DSM NV
9. Tate and Lyle PLC
10. Brenntag Solutions Group Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Food Preservatives market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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