The rising working population coupled with the change in lifestyle and dietary habits across the globe is intensifying the need for processed and packaged food which is contributing to the demand for the food preservatives market across the globe. Moreover, the rising health awareness among the consumers and the rise in the number of natural preservatives manufacturer is contributing to the growth of the market.
Moreover, the decline in vegetable production in regions such as Europe and the Americas is generating the need for processed, packaged and frozen vegetables. According to the Food and Agriculture Organization of the united nations, vegetable production in Europe declined from 1,09,87,392 tonnes in 2014 to 1,03,19,660 tonnes in 2018. The same way the vegetable production in the Americas declined from 76,96,069 tonnes in 2014 to 76,32,509 tonnes in 2018. The decline in vegetable production would generate the need for the packaged & processed food products, thereby contributing to the growth of the preservatives.
According to the MarkNtel Advisors’ research report, “Global Food Preservatives Market Analysis, 2020”, the global food preservatives market is set to grow at a CAGR of around 2.75% from 2021-25. In 2019, North America grabbed the major market on account of a wide consumer base and the increasing consumption of ready to eat products due to busy and hectic lifestyles. Moreover, the introduction of organic and halal products is contributing to the growth of the preservatives market.
In 2019, synthetic preservatives dominated over the natural preservatives owing to the benefits such as longer shelf life, easily available, wide application areas and more economical. However, the demand for natural preservatives are expected to dominate in the forthcoming years on account of the rising health awareness among consumers and the increasing disposable income
By function, an antimicrobial segment dominated the market in 2019 on account of the benefits associated with it such as the chemical compound calcium propionate and sorbic acid helps in the prevention of food spoilage. Moreover, the application of anti-microbial in areas such as snacks, frozen foods, and bakery products is helping the growth of the market.
Promulgating demand for the Nutrients in Daily Diet to Cater the demand for Meat & Poultry
According to MarkNtel Advisors, the hectic lifestyle and the long working hours are generating the need for more nutrients and minerals in the diet, therefore, the consumption of meat and meat products across the globe is increasing on a continuous basis.
According to The Organization for Economic Co-operation and Development (OCED), the poultry meat consumption across the globe increased from 13.85 kilograms per capita in 2015 to 14.16 kilogram per capita in 2018 also the pork meat consumption increased from 6.33 kilogram per capita in 2015 to 86.40 kilogram per capita in 2018. So, the demand for the preservatives is increasing from the meat and poultry sector.
Emerging Natural Preservative manufacturer to Make Competition Higher
According to MarkNtel Advisors, the key players with considerable shares in the industry are Cargill, Inc., Kemin Industries, Inc., Archer Daniels Midland Company, Tate & Lyle Plc, BASF SE, etc. Moreover, the rise in health awareness among end-users are driving the need for natural preservatives. The companies which offer the natural preservatives are Akzo Nobel N.V, BASF SE, Celanese Corporation, etc. Also, the new players in the industry which offer the natural preservatives are creating stiff competition in the market. A few of the incidences of the natural preservatives launched by the new players are: In 2019, Canada based company Chinova Bio works launched the natural food preservative which is made-up of the mushroom which would be helpful for the sauces and dairy products. Moreover, new entrants such as Galactic S.A., Kemin Industries, Inc, etc., are announced to launch natural preservatives such as rosemary extracts and vinegar.
“Global Food Preservatives Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for food preservatives providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go To Market Strategies and identifying the blue ocean for their offerings.
1. By Type (Synthetic, Natural)
2. By Function (Anti-microbial, Anti-oxidant, Others)
3. By Application (Meat & poultry, Bakery, Dairy, Beverages, Snacks, Others)
4. By Region (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
5. By Competitors (Cargill, Inc., Kemin Industries, Inc., Archer Daniels Midland Company, Tate & Lyle Plc, BASF SE, etc.)
Key questions answered in the study:
1. What are the current and future trends of the global food preservative market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the global food preservatives industry?
6. What are the customer orientation, purchase behavior, and expectations from the global food preservatives providers across various regions?