The global food preservatives market is witnessing steady growth due to the increasing demand for processed and convenience foods, coupled with the rising awareness regarding food safety and shelf-life extension. Various factors, including urbanization, changing lifestyles, and the expansion of the food and beverage industry, were driving this growth.
Several types of food preservatives were prevalent in the market, including natural preservatives like salt, sugar, vinegar, and rosemary extract, as well as synthetic preservatives such as benzoates, sorbates, sulfites, and nitrites. Natural preservatives were gaining popularity due to the growing consumer preference for clean label products and concerns over the safety of synthetic additives.
The global food preservatives market size was valued at US$ 3.3 billion in 2022 and is poised to grow from US$ 3.4 billion in 2023 to US$ 3.9 billion by 2028, growing at a CAGR of 3.0% in the forecast period (2023-2028).
Food preservatives are compounds that are added to food products to help them last longer and prevent deterioration. They aid in the inhibition of bacteria, fungus, yeasts, and other microorganisms that can cause foodborne sickness or degradation. Preservatives are widely utilised in processed and packaged foods, as well as some homemade and professionally produced goods. The food preservatives industry is bound to rise with high demand for processed food, the rise in meat consumption, and rising demand for products with an extended shelf life. New innovations are taking place in the natural preservatives segment owing to the rise in demand for clean-labeled ingredients in the European and North American market. This is also fueling the overall growth of the industry.
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Market Drivers: Growing demand for food products with an extended shelf life
With the rise in urbanization and employment globally, consumer lifestyles and eating habits have changed drastically. Consumers are thus looking for food products that are easy to prepare, consume, and have a longer shelf life. Food preservatives play a huge role in extending the shelf-life of food apart from keeping it fresh. Thus, with the rise in demand for food with longer shelf-life, the demand for food preservatives has increased in the food and beverage industry. This is because preservatives offers food manufacturers advantages in terms of storage efficacy and competitive pricing. Moreover, post COVID-19 pandemic, health consciousness has rose, which is also positively stimulating the growth of natural preservatives such as citric acid and rosemary extracts, thereby driving the overall market.
By function, other functions which include chelating agents and enzyme inhibitors is projected to be the fastest growing segment in the food preservatives market.
Other functions is the fastest growing segment by function in the food preservatives market during the forecast period. Other functions include chelating agents and enzyme inhibitors. They prevent spoilage of food products by inhibiting enzymatic processed such as ripening after harvest. Consumer preferences for healthy and sustainable food choices are driving the market for biodegradable chelating agents, making them the fastest growing segment by function in the market.
Several trends shaping the food preservatives market:
- Clean Label: Consumers are increasingly demanding natural and clean label products, leading to a shift away from synthetic preservatives. This trend is driving the use of natural preservatives derived from herbs, spices, and other plant-based sources.
- Health and Wellness: Rising health consciousness among consumers is influencing their food choices. Manufacturers are responding by developing preservatives that meet clean label requirements while also offering health benefits, such as antioxidants and antimicrobial properties.
- Sustainable Preservation: Sustainability concerns are driving the development of eco-friendly preservatives and packaging solutions. This includes bio-based preservatives derived from renewable sources and packaging materials designed to minimize food waste and environmental impact.
- Technological Advancements: Ongoing research and development efforts are leading to the discovery of new preservation technologies, including advanced packaging systems, nanotechnology, and natural antimicrobials. These innovations aim to enhance food safety and extend shelf life without compromising quality.
- Regulatory Landscape: Stringent regulations regarding food safety and labeling requirements are shaping the market dynamics. Manufacturers must comply with regulatory standards while also addressing consumer preferences for natural and safe ingredients.
- Globalization of Food Supply Chains: With the globalization of food supply chains, there is an increasing need for effective preservation techniques to ensure the safety and quality of food products during storage and transportation across borders.
- Shift Towards Convenience Foods: The growing demand for convenience foods, including ready-to-eat meals and snacks, is driving the need for effective preservation methods to maintain product freshness and extend shelf life.
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