The food preservatives are the industry that produces and sells various substances used to prevent or slow down food spoilage caused by bacteria, fungi, or other microorganisms. Preservatives extend the shelf life of food products and maintain their freshness, taste, and nutritional value.
In 2021, the food preservatives market was worth USD 3 billion, and by 2030 it will be worth USD 4.65 billion, growing at a 5% CAGR during the forecast period.
The market for food preservatives is driven by the growing need for convenience foods, increasing consumer awareness about food safety and quality, and the need to reduce food waste. Some commonly used preservatives in the food industry include antioxidants, antimicrobials, and acidulants.
Market Dynamics
Drivers
- Increasing demand for processed foods: As consumers become more reliant on convenience foods and ready-to-eat meals, the demand for food preservatives increases. Preservatives help to extend the shelf life of processed foods and prevent spoilage, making them a preferred choice for many consumers.
- Growing population: With a growing global population, there is an increasing demand for food production and preservation. Food preservatives are critical in preserving food quality and safety, allowing for greater food security and availability.
- Food safety regulations: The increasing regulatory standards and guidelines for food safety and quality have led to adopting food preservatives.
- Technological advancements: The development of new and advanced food preservation technologies has led to the growth of the food preservatives market.
Restraints
Due to the high demand for organic and natural foods and the restricted supply of these products, the market for food preservatives is struggling to expand. The use of dangerous chemicals in stabilizing meals is subject to stringent restrictions and regulations adopted by the government, which makes it difficult for manufacturers to add diversity to their products. Another problem impeding the industry’s growth is the daily rise in the price of natural foods.
Opportunity
Increased shelf life, less decomposition, and immobilization of anti-natural components, measured for healthy substances for consumers, are a few advantages of food preservation for the customer. Food preservation encourages locals to be thrifty and allows perishable commodities to be transported across great distances quickly. It may also prevent food surpluses without needing a refrigerator, offering new growth opportunities.
Market Segmentation
By Type
The synthetic type was the largest market contributor in 2021, with a revenue share of nearly 80%. It is in demand since it is reasonably priced and simple to manufacture. Due to their extensive use in meat, poultry, and dairy products, sorbates represented the biggest value share of all chemical kinds. Common synthetic versions include propionates, benzoates, nitrites, and propionates. Because of their greater limit and larger range of uses, propionates are more widely accepted. These include bakery items, snacks, other confectionaries, and preservation at higher pH.
Natural preservatives are in higher demand because regulatory bodies have accepted them, and consumers are becoming more health concerned.
By Application
The snacks segment will expand significantly throughout the forecast period. Snacks and other quick items have a larger surface area susceptible to bacterial contamination. As a result, the necessity for preservatives in snacks is more important. Convenience food consumption will increase dramatically worldwide, particularly in Asian, Middle Eastern, African, and South American markets, according to current surveys and research.
Regional Analysis
North America was the largest market contributor in 2021, with a revenue share of 30%. The regional market is driven by an increase in the product’s different uses in the United States, Canada, and Mexico. The development is anticipated to be aided by existing bakeries and increased processed meat consumption.
The food and beverage sector is the primary driver of European market expansion. The United States, China, Canada, Australia, Saudi Arabia, and Japan are the leading export destinations for Europe’s food and beverage sector. Meat, fish, dairy, and beverages such as alcoholic beverages, soft drinks, and dairy products make up the bulk of the items exported. Thus, increased food export from Europe would increase. The need for food preservatives necessary to preserve shelf life during transit activities.
Key Players
- Kerry
- Cargill, Inc.
- Galactic S.A.
- Kemin Industries, Inc.
- Corbion N.V.
- ADM
- Celanese Corporation
- Tate & Lyle
- BASF SE
In 2021, the food preservatives market was worth USD 3 billion. And by 2030 it will be worth USD 4.65 billion, growing at a 5% CAGR during the forecast period. Key reasons stimulating the need for food preservatives include the rising desire for convenient processed foods. Increasing global demand for meat, and growing demand for food with longer shelf life.
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