Food Preservatives Market to Record Steady Growth by 2021

The report "Food Preservative Market by Type (Natural & Chemical), Function (Antimicrobial, Antioxidant), Application (Oil & Fat, Bakery, Dairy & frozen, Snack, Meat, Poultry & Seafood, Confectionery, Beverage), & Geography - Global Trend & Forecast to 2021" The food preservatives market is projected to reach USD 2.9 billion by 2021, from USD 2.6 billion in 2016, at a CAGR of 3% during the forecast period. The market is driven by factors such as the demand for food products with extended shelf life and higher standards for safety and quality.

Changes in consumer lifestyles and demand for longer shelf life in processed food products support the growth of the food preservatives market

The demand for food preservatives is high across the globe; this is due to large number of retail chains and changes in consumer lifestyles, which have fueled the market for processed and convenience foods. Also, the growth in 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 has transpired into a 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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By type, synthetic formulations dominated the food preservatives market in 2015

Chemical preservatives have been used for decades-as antioxidants as well as antimicrobials. Natural preservatives will slowly but gradually replace their chemical counterparts. However, till then, chemical preservatives will always have a major share within the food preservatives industry. Benzoates, sorbates, and propionates are among the most commonly used chemical preservatives and are broad-spectrum agents with applications across various food product categories. Known to either inhibit or kill the target microorganisms, these ingredients are designed to prevent the loss of essential amino acids and vitamins, which may occur due to undesirable chemical or enzymatic reactions within the product. A wide range of chemical preservatives have been used and applied to food products, some of which include benzoates, sulfates, sorbates, nitrites, and propionates.

North America is projected to dominate the food preservatives market by 2021

Consumers in the North American market are on the lookout for minimally processed convenience foods, with long storage lives. This has heightened the need for the appropriate food safety measures and has also meant that the role of preservatives to extend shelf life has become increasingly important. The burgeoning demand for such convenience food products is expected to have a high impact on the food preservatives market in North America. The popular perception that natural additives make a healthier option is driving the trend in the food preservatives market in North America.

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This report includes a study of the development strategies, along with the product portfolios of leading companies. It also includes the profiles of leading companies such as Akzo Nobel N.V. (Netherlands), Danisco A/S (Denmark), Cargill, Incorporated (US), Univar Inc. (US), Koninklijke DSM N.V (Netherlands), Brenntag Solutions Group, Inc. (Germany), Tate & Lyle (UK), Kemin Industries, Inc. (US), Galactic (Belgium), and Hawkins Watts Limited (New Zealand).

Marker Research Report Insights & Consulting.