Food & Beverage

Global Food Preservatives Market

December 23, 2021
ID: SR/FB-05
Format:Pdf
Pages:220

Global Food Preservatives Market, By Type (Natural, and Synthetic), Function (Anti-microbials, Antioxidants, Enzyme, and Chelating), By Application (Dairy & Frozen Foods, Beverages, Poultry and Seafood, Bakery, Meat, Confectionery, Oil & Fats, and Other), and By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)-Global Forecast to 2027.

Description

The global food preservatives market was valued at USD 2.9 billion in 2020 and is projected to reach USD 3.76 billion with a CAGR of 3.8% during the forecast period, 2021-2027. The increasing use of synthetic food preservatives to protect against botulism, prevent bacterial growth in food products, and increase the shelf life of those products are the major factors restoring the growth of the global food preservative market. Furthermore, the growing demand for antimicrobial agents is due to their ability to prevent the growth of microorganisms and inhibit or delay food spoilage, which is among the key factors expected over the forecast period to drive the global market’s growth for food preservatives.

What are Food Preservatives?

Food preservation is treating food with preservatives to prevent or delay spoilage by microorganisms such as bacteria and fungi and extend food’s shelf life. A food preservative is a chemical added to food, beverages, pharmaceutical drugs, paints, biological samples and several other products to prevent decomposition by unwanted chemical substances. Food preservatives are widely used among dairy & frozen foods, beverages, poultry and seafood, bakery, meat, confectionery applications due to various advantages, as there is longer shelf life. Preservatives play an important role in several products, such as medicines, food, and personal care products.

Growth Driver

Growing demand for food with an extended shelf life

Increased work hours have significantly changed consumer lifestyles and, as a result, their eating habits. These changes require food products that are easy to consume and have a longer shelf life. Therefore, the role of food preservatives in the food and beverage industry is becoming increasingly important. The rapid growth of foods with a longer shelf life has significantly impacted the food processing industry. Overall, preservatives’ well-proven storage efficacy has improved food delivery methods and competitive pricing for food products.

Opportunities

Growing markets for Food Preservatives

Emerging economies and industrialization strongly influence the food and beverage sector in the Asia-Pacific region. Growing demand for high-quality products has made raw material suppliers increasingly optimistic about the growth of the food and beverage industries. These preferences have driven the need for new food additives, despite increasing awareness of the health risk associated with synthetic food additives. Furthermore, growing lifestyles and changing food consumption patterns have increased the demand for processed, ready-to-cook, ready-to-eat food and increased competitive demand from homes and workplaces, leading to a preference for convenience. The growth in urbanization and globalization has led to a growth in literacy and exposure to developed countries.

Restraints

Availability of natural preservatives.

The demand for natural over synthetic preservatives is a challenge for consumers of preservatives in the food and beverage industry. Growing demand for natural foods and limited availability of natural preservatives Consumer awareness that natural food is healthier than food with synthetic preservatives. The health risks related to these food preservatives will likely restrain the market’s growth.

Pre Covid-19 impact on the global Food Preservatives market

The global food preservative market grew well before COVID-19 due to the increasing popularity and the rising disposable income of convenience foods. The main growth drivers of the food and beverage industry before the COVID-19 pandemic included an increase in the number of consumers on the move and the increased use of ready-to-eat foods. Furthermore, steadily increasing population and per capita income and changing lifestyle were other growth-enhancing factors of the food & beverages industry. They also witnessed a boom in the market for various food preservative products.

Covid-19 impact on the global Food preservatives market

During the pandemic, many food industry workers do not have the opportunity to work from home and must continue to work in their usual workplace. Prolonging the health and safety of all workers in the food production and supply chain is crucial in the current epidemic prevention and control. Maintaining the circulation of food in the food supply chain is an essential function for which all stakeholders in the supply chain must contribute. Thus, it also requires maintaining consumer trust and confidence in food safety and availability, and this is because consumers are preparing more food at home, growing interest in storing non-perishable food at home, and increasing demand for frozen foods, whether they are looking for frozen foods as part of their inventory or the rise of home cooking.

Post Covid-19 impact on the global Food Preservatives market

The global food preservative market is likely to witness a consumer shift towards prepared meals-to-go in groceries, which has substantially contributed to the demand for food preservatives due to the rapid expansion of bakery industries, which is likely to witness a continuously rising global food preservative market year by year. Advances in technology have helped significantly extend the shelf life of food. The requirement to commercialize food preservatives to the smallest food and beverage manufacturers will aid in market expansion. Therefore, with the outbreak of COVID-19, the food preservative market will grow significantly, which has positively impacted the food preservative market value in 2021 and subsequent years.

Type Segmental Analysis

The global food preservative market is categorized into natural and synthetic by type. The synthetic segment holds the largest market share, 2020, and is expected to grow significantly during the forecast period, 2021–2027. The segment’s growth is attributed to the increasing use of synthetic food preservatives to protect against botulism, prevent bacterial growth in the food products, and increase the shelf life of the food products. The synthetic segment comprises sorbates, benzoates, propionates, and others. Sorbates are divided into sorbic acid or potassium sorbate, benzoates are bifurcated into benzoic acid and sodium benzoate, and propionates are also classified as propionic acid, calcium propionate and sodium propionate. They are often used in combination to improve the efficiency of food products.

Function Segmental Analysis

Based on the Function, the global food preservatives market is categorized into Anti-microbials, Antioxidants, Enzyme, and Chelating. The antimicrobial food preservative segment accounted for the highest market in 2020 is likely to generate a sizeable revenue during the forecast period, 2021-2027. The segment’s growth is attributed to the rise in demand for products that prevent the growth of microorganisms and thus inhibit or delay food spoilage. Antimicrobial agents also include compounds such as sodium propionate and calcium propionate, used in baked goods, cheese, salad dressings, cakes, margarine, and confectionery products.

Application Segmental Analysis

Based on the Application, the global food preservatives market is segregated into dairy & frozen foods, beverages, poultry and seafood, bakery, meat, confectionery, oil & fats, and others. The dairy & frozen foods segment captured the largest market share in 2020 and will likely generate maximum profit during the forecast period, 2021-2027. It is attributed to the utilization of food preservatives due to an increase in demand for synthetic preservatives used in combination. As product shelf life is extended and demand for ready-to-eat food products rises, the market is expected to expand.

Region Segmental Analysis

The global food preservatives market is characterized by North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America has the largest market share in 2020 and is estimated to grow significantly during the forecast period, 2021-2027. The expansion is expected to be helped by well-established bakery stores and increased processed meat consumption. Because of the food processing industry, growing healthcare prevalence, and rising obesity among the population, the Asia-Pacific region is expected to grow, with countries like India, China, and Japan encouraging key market participants to increase their profit margins and rising disposable income driving the regional market.

Competitor Analysis

Companies include Archer Daniels Midland Company, Akzo Nobel N.V., BASF SE, Corbion N.V., Celanese Corporation, Cargill Incorporated, Hawkins Watts Ltd., Kerry Group, Kemin Industries Inc., Koninklijke DSM N.V., TATE & Lyle Plc are the key players in the global food preservatives market.

Key Stakeholders

Market research and consulting firms
Industry associations
Global food preservative manufacturing firm
Organization, association, and alliances related to food preservatives
Regulatory bodies
Suppliers
Retailers

Recent Developments

In October 2021, Kerry Group developed and released a leading-edge plant-based dairy alternative toolkit with emerging brands racing to innovate in beverages, frozen desserts, and vegan slices.
In July 2021, DSM announced that it would choose a new phage full culture rotation to expand its organic preservation portfolio of dairy-safe cheeses. The new culture allows cheesemakers to benefit from a more robust culture rotation system that ensures reliable and consistent cheese production and optimal phage management.
In January 2019, The Kerry Group launched GMO-Free yeast as a natural solution to acrylamide reduction.

Scope of the Report

Report Attribute	Details
Market Size Value in 2020	USD 2.9 Billion
The revenue forecast in 2027	USD 3.76 Billion
Growth Rate	CAGR of 3.8% from 2020 to 2027.
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Archer Daniels Midland Company, Akzo Nobel N.V., BASF SE, Corbion N.V., Celanese Corporation, Cargill Incorporated, Hawkins Watts Ltd., Kerry Group, Kemin Industries Inc., Koninklijke DSM N.V., TATE & Lyle Plc

Market Modelling

By Type

Natural
Synthetic

By Function

Anti-microbials
Antioxidants
Enzyme
Chelating

By Application

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What are food preservatives?

Food preservation is the procedure of treating food with preservatives to prevent or delay spoilage by microorganisms such as bacteria and fungi and extend food’s shelf life.

What is the growth rate of the Food Preservatives market?

The global food preservatives market is expected to grow with a CAGR of 3.8%, in value terms, over the forecast period 2020-2027, and expected to reach USD 3.76 Billion by 2027.

What are the driving factors for the global Food Preservatives market?

With the increasing use of food preservatives, the role of food preservatives in the food and beverage industry is becoming increasingly important. The rapid growth of foods with a longer shelf life has had a significant impact on the food processing industry is the major factor restoring the growth of the global food preservatives market.

What are the impacts of the COVID-19 pandemic on the global Food Preservatives market?

This was due largely to elevated demand for frozen foods as consumers prepared more meals at home, increased their interest in having a stock of non-perishable foods at home, and sought frozen foods as part of that stockpiling or increased home cooking.

What are the key innovations in the Food Preservatives market?

In October 2021, Kerry Group developed and released a leading-edge plant-based dairy alternative toolkit with emerging brands racing to innovate in beverages, frozen desserts, and vegan slices.

Which region is expected to have the largest share in global food Preservatives?

North America has the largest market share in 2020 and is estimated to grow significantly during the forecast period, 2021-2027.

Who are the major players in the global Food Preservatives?

Companies include Archer Daniels Midland Company, Akzo Nobel N.V., BASF SE, Corbion N.V., Celanese Corporation, DSM, Cargill Incorporated, Hawkins Watts Ltd., Kerry Group, Kemin Industries Inc., Koninklijke DSM N.V., TATE & Lyle Plc are the key players in the Food Preservatives market.

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