Food Preservatives Market is expected to reach USD 2,560 million by 2020, growing at a CAGR of 3.5% from 2014 to 2020

2024-11-04 09:09:34 Lifestyle

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The global food preservatives market was valued at US$2 bn in 2013. Exhibiting a CAGR of 3.50% within a forecast period of 2014 to 2020, this market is expected to reach US$2.5 bn by the end of 2020. This data is elaborated upon within a research report released by Transparency Market Research. The report, titled ?Food Preservatives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2014 - 2020,? showcases the key factors that can influence this market in the near future.

According to the report, the global food preservatives market is primarily driven by an increase in demand for two core segments of the food and beverages industry. The first is an increasing demand for convenience foods, which is driven by changing lifestyles. Another driver for the global food preservatives market is the rapidly increasing demand for organic food products, which require a different set of preservatives.

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The global food preservatives market is also bolstered by the growing need for increasing the shelf life of perishable foods as well as preventing an outbreak of diseases. Preservatives act by inhibiting the growth of bacteria and other microorganisms in food, thereby helping prevent the spread of harmful bacteria.

However, the global food preservatives market could be hampered by the increasing pressure of adhering to stringent government regulations. An increasing list of chemicals and compounds are being controlled for their tendency to disturb a consumer?s physical well-being.

The report divides the global food preservatives market is terms of applications, product type, and regions.In terms of product types, the global food preservatives market was led by synthetic food preservatives in 2013. However, due to high demand for natural preservatives and a growing aversion to synthetic ones, companies are putting more research and development efforts towards the former. Although the segment of natural food preservatives is growing, it faces the problems of maintaining a shorter shelf life along with having a lower rate of effectiveness on foods.

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Geographically, the global food preservatives market was led by North America in 2013, owing to a high consumption of food products. The North America food preservatives market is expected to reach US$921.6 mn before the end of 2020.North America is very closely followed by Asia Pacific in the global food preservatives market, owing to a rapid increase in demand for food in the nations of Australia, South Korea, and China.

The common types of preservatives currently in use are lactic acid, propionic acid, benzoic acid, and sorbic acid.The key players in the global food preservatives market are The Archer Daniels Midland Company, Koninklijke DSM N.V., Kerry Group, JEY'S F.I. INC., DuPont, Corbion N.V., Chr. Hansen A/S, Celanese Corporation, Cargill, Inc., and BASF SE.

Key segments of the Global Food Preservatives Market

Global Food Preservatives Market by Product Type
Natural Preservatives
Synthetic Preservatives

Global Food Preservatives Market by Function
Antimicrobial
Antioxidants

Global Food Preservatives Market by Application
Dairy and milk products
Meat, poultry and sea food products
Bakery products
Beverages products
Other products

Global Food Preservatives Market by Geography
North America
Europe
Asia Pacific
RoW