Preservatives Market - Industry Trends, Outlook, Regulatory Bodies & Regulations and Key Market Play

Preservatives are substances or chemicals added to drugs, food, beverages, paints, cosmetics, and wood, in order to prevent microbial growth and undesirable changes in terms of both, physical and chemical properties. Preservatives are of two kinds, namely natural and synthetic, both of which are used to enhance the quality of the end product. Natural preservatives such as antioxidants, vitamin E, rosemary extracts, and seed extracts are readily available in nature and often obtained from plant sources. Synthetic preservatives such as benzoic acid, sodium nitrite, sulfur dioxide, and potassium sorbate, are chemical components processed and added to the end product. Growing health concerns among the global populace has caused an increasing demand for natural preservatives, in turn projecting immense growth for the preservatives market, over the forecast period. Positive growth outlook of the food industry in highly populous and emerging economies of India and China, further contribute to growth of the global preservative market.

Preservatives Market Taxonomy

On the basis of source, the global market is classified into:

Natural

Synthetic

On the basis of function, the global market is classified into:

Antimicrobials

Antioxidants

On the basis of end user, the global market is classified into:

Food and beverages

Cosmetics

Pharmaceuticals

Construction

Others

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Preservatives Market Challenges – Stringent Government Rules and Regulations

Stringent regulatory scenario regarding the use of preservatives considering its negative health impact is a challenge for growth of the global preservatives market. Various authorities across the globe regulate usage of preservatives. Despite its usage in various end-use industries such as food and pharmaceutical drugs, preservatives are associated with a number of health issues such as cancer, hyperactivity, and heart issues. The U.S. Food & Drug Administration (FDA) implemented certain guidelines for usage of preservatives in food and medicines. According to the FDA, 'a chemical preservative should comply with purity specifications in regulations in 21 CFR 172, or in the Food Chemicals Codex'. Also, countries such as Finland, Norway, Austria, U.K., and France have banned synthetic food colorings, while the U.K. and Canada have banned usage of Olestra (a fat substitute preservative). Such regulations imposed on the usage of preservatives, inhibits growth of the preservatives industry to a certain extent.

Asia Pacific is expected to be the fastest growing market for preservatives over the forecast period, owing to increasing demand for ready-to-consume food items and growing retail industry. North America is the largest market for preservatives, followed by Europe. These regions are expected to retain their dominance over the forecast period, attributing to the availability of retail outlets, busy lifestyle of consumers resulting in an increasing inclination towards ready-to-eat food products. Large untapped markets in countries such as India, Bangladesh, South Africa, China, Malaysia, and Mexico are projected to provide lucrative growth opportunities for the preservative manufacturers, in the near future.

Key players in the global preservatives market include Corbion N.V., Cargill Incorporated, Kerry Group, BASF SE, Chr. Hansen A/S, Archer Daniels Midland Company, E. I. du Pont de Nemours and Company, and Celanese Corporation.

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