Food Preservatives Market to Witness Unprecedented Growth in Coming Years

According to the report “Food Preservatives Market by Type (Natural, Synthetic), Application (Meat & Poultry & Seafood, Bakery, Confectionery, Snacks, Dairy & Frozen Products, Beverages, Fats & Oils), Functions, and by Region – Global Trends and Forecast to 2026″, published by MarketsandMarkets™, the global Food Preservatives Market is expected to grow from USD 3.3 billion in 2021 to USD 4.0 billion by 2026, at a CAGR of 4.1% from 2021 to 2026.

The demand for food preservatives is high across the globe; this is due to large amounts of retail chains and changing consumer lifestyles, which have fueled the market for processed and convenience foods. Also, the growing awareness and consciousness among consumers mean that food safety and quality are of paramount importance. The drive to extend the shelf life of products and sustain their desirable characteristics for a longer duration of time have transpired into growing business for food preservation additives and methods. Sustaining nutritive qualities and freshness of the product, along with inhibiting microbial and other undesirable chemical reactions within the food product, has contributed to the enhancement of product shelf life.

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The food preservatives market is highly fragmented; hence, there are numerous players in the market offering a wide range of products; the major food preservatives manufacturers include BASF SE (Germany), Kerry Group Plc (Ireland), Koninklijke DSM N.V. (Netherlands), Cargill, Incorporated (US), Kemin Industries, Inc. (US), IFF Nutrition & Biosciences (US), ADM (US). Tate & Lyle (UK), Lallemand Inc. (Canada), ITA 3 S.r.l (Italy), Foodchem International Corporation (China), Galactic (Belgium), Corbion (Netherlands), Celanese Corporation (US), and Jungbunzlauer Suisse AG (Switzerland). These players have focused on acquisitions to gain a larger market share in the food preservatives market.

Cargill, Incorporated is a privately-owned company involved in the manufacture and marketing of food, agricultural, financial, and industrial products & services. The company’s key business segments include specialty food ingredients & applications and bulk ingredients. It offers food ingredients through the food & beverage ingredients business segment. The company offers a wide variety of acidulants that are used as preservatives in the food and beverage industry.

Cargill has subsidiaries in 65 countries and has marked its presence in more than 125 countries across the globe. The company has a strong focus on research and development and also on its growth strategies. For instance, in 2019, it opened a food innovation center in Singapore to address the nutrition and food safety needs. The company’s research & development centers are located in Europe and North America; and it provides services in Africa, Europe, Asia, Latin America, North America, and the Middle East. This enables it to have a significant global presence.

Koninklijke DSM N.V. is a Dutch multinational corporation engaged in the production of nutritional and pharmaceutical ingredients and industrial chemicals. It operates through four major segments: nutrition, material, innovation center, and corporate activities. The nutrition segment of the company comprises DSM Nutritional Products and DSM Food Specialties. DSM Food Specialties operates as a subsidiary and is a producer of a wide variety of preservatives that find applications in bakery, dairy, meat, and beverage products.

The company has a strong focus on R&D activities and has developed the Dairy Safe solution, which delivers acidification, flavor, and assured bioprotection against late blowing and spoilage to guarantee high-quality cheese, including organic varieties. The company has a presence in over 50 countries, including the Netherlands, the UK, the US, Germany, Switzerland, France, Belgium, and Luxembourg. The European region accounts for approximately 60% of the total annual revenue of the company. It operates globally through its subsidiaries, such as DSM Nutritional Products Ag (Switzerland), DSM Nutritional Products Asia Pacific (Singapore), DSM Nutritional Products Australia Pty Limited (Australia), DSM Nutritional Products Canada Inc. (Canada), DSM Nutritional Products France (France), and DSM Nutritional Products GmbH (Germany).

BASF SE is a German multinational company that operates through six broad business segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions. The company provides propionic acid pure for food preservation and other products for feed preservation.

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Ever since its inception, BASF has given increased focus and attention to innovations and has many innovation campuses across the world. The BASF Group comprises subsidiaries and joint ventures in more than 100 countries and operates six integrated production sites and 390 other production sites in Europe, Asia, Australia, the Americas, and Africa.