Global Food Preservatives Market: Overview
The food and beverage processing industry has been primarily shaped by consumer preference for safe and hygienic foods. The need for preservatives, natural as well as synthetic, is fuelling the demand for food additives and ingredients that inhibit the growth of bacteria, fungi, and micro-organisms. In the process, they help prolong shelf life and enhance color, flavor, and texture of foods hence, preserve the natural characteristics of the foods. The food preservatives market is rapidly evolving and has witnessed a variety of interesting trends and competitive dynamics in major region such as North America, Europe, and Asia Pacific.
The increasing demand for natural food preservatives and the rising consumption of organic foods are crucial growth drivers in the food preservatives market along the forecast period. The global food preservatives market was valued at US$2 bn in 2013 and is anticipated to reach US$2.5 bn by 2020 expanding at a CAGR of 3.5% during the forecast period 2014 – 2020.
Natural Food Preservatives to Witness Significant Demand
The global food preservatives market is segmented on the basis of applications, product type, and regions. In terms of product type, the global market was dominated by synthetic food preservatives in 2013. However, heightened health concerns of people worldwide have led manufacturers to address food safety issues.
The natural food preservatives segment is expected to witness impressive growth over the forecast period. The marked growth is attributed to the rising preference for natural foods over synthetic preservatives and continuous initiatives by manufacturers to produce foods that use natural preservatives. This is expected to create vast growth opportunities for the players in the food preservatives market. More research and development activities related to natural preservatives will open exciting opportunities for the market players.
The global food preservatives market is majorly driven by the increasing consumption of convenience foods and the soaring demand for organic food products. The rising availability of convenience products, such as frozen foods and ready-to-eat dry products, worldwide adds momentum to the growth of the market. Coupled with this, the growing need for enhancing the shelf life of various perishable foods and making them safe and hygienic for combustion are expected to propel the demand for food preservatives.
Food preservatives are used in different processed and convenience food products such as snacks, processed meat, confectionery and cakes to prevent any spoilage due to bacteria and microbe. However, stringent government regulations related to food additives used as preservatives and an increasing number of chemicals compounds discouraged for their cariogenic effects are likely to hinder the market growth to some extent.
Asia Pacific to Exhibit Impressive Growth; However, Scales tilting in favour of RoW
Geographically, the report segments the market into North America, Europe, Asia Pacific, and Rest of the World (RoW). Amongst these, currently North America leads the global food preservatives market and the growth is driven by increasing demand for hygienic foods, especially organic foods. The regional market is forecast to rise to US$921.6 mn by 2020 and is anticipated to reach US$921.6 mn before the end of 2020.
Asia Pacific is expected to witness a robust growth over the next five years driven by soaring demand for food products, especially convenience foods in countries such as Australia, China, and South Korea. However, RoW is expected to exhibit most significant growth along the forecast period.
The report provides detailed profile of key market players and the strategies adopted by them to strengthen their market presence across various regions.
Major players operating in the global food preservatives market include Koninklijke DSM N.V., Corbion N.V., Du Pont, Cargill Incorporated, Kerry Group, Celanese Corporation, JEY'S F.I. INC., Archer Daniels Midland Company, Chr. Hansen A/S, and BASF SE.
Food preservatives, both natural and synthetic, are added to end products to prevent food spoilage owing to microbial growth and extend their overall shelf life. Given the significance of food preservatives in a booming packaged and processed foods industry, this market is estimated to witness modest growth during the forecast period.
The research report studies the global food preservatives market by segmenting it on the basis of several parameters: product type, function, application, and geography. By product type, the food preservatives market is bifurcated into synthetic preservatives and natural preservatives. By function, the market is divided into antioxidants and antimicrobial. By application, the food preservatives market is segmented into meat, poultry, and sea foods, beverages, dairy and milk products, bakery products, and others. By geography, the global food preservatives market is fragmented into Asia Pacific, North America, Europe, and Rest of the World.
This research study is designed with the help of accurate, objective, and latest data and is supported by necessary market figures as well as inputs from industry experts. It serves as an idea tool for direction and decision-making in a developing global market.
Overview of the Food Preservatives Market
According to the report, the global food preservatives market is estimated to expand at a modest CAGR of 3.50% from 2014 to 2020, growing from a value of US$2,000 mn in 2013 to US$2,560 mn by 2020. This growth can be attributed to factors such as surging demand for convenience foods, rising demand for organic food products, growing concern for food safety, and increasing incidence of disease outbreaks. The rising demand for natural food preservatives and mixing a variety of preservatives to bring down overall cost is anticipated to support the market over the next five years. However, difficulties working with natural preservatives, stringent government regulations, and interventions threaten to impede the growth of the food preservatives market.
The demand for synthetic food preservatives currently surpasses that of natural preservatives. However, this is expected to change in the coming years with large number of manufacturers focusing on developing natural ingredients. North America presently dominates the global food preservatives market, with the value of this regional segment to rise from US$729.8 mn in 2013 to US$921.6 mn in 2020. Driven by escalating demand for food, Asia Pacific is anticipated to witness a strong growth over the next five years. However, the Rest of the World region will emerge as the most rapidly developing segment by the end of the forecast period, registering a CAGR of 4.0% from 2014 to 2020.
Companies Mentioned in the Report
The leading players competing in the global food preservatives market are Koninklijke DSM N.V., Cargill Incorporated, Corbion N.V., Celanese Corporation, JEY\'S F.I. INC., The Archer Daniels Midland Company, Kerry Group, Chr. Hansen A/s, BASF SE, and Du Pont.
Global Food Preservatives Market by Product Type
- Natural Preservatives
- Synthetic Preservatives
Global Food Preservatives Market by Function
Global Food Preservatives Market by Application
- Dairy and milk products
- Meat, poultry and sea food products
- Bakery products
- Beverages products
- Other products
Global Food Preservatives Market by Geography
- North America
- Asia Pacific
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments