Global Shelf Life Extension Ingredients Market: Overview
The shelf life of any food or beverage is the amount of time it takes to degrade to a non-palatable state. Food has various components that make it prone to biodegradation by microbes in the air or even by oxidation. This makes a food item unfit to eat given the health risks this can have, besides the offensive smell and taste.
Shelf life extension ingredients slow down this process of food degradation and enable longer storage of food items. They are both chemical and organic in origin. Food packaging has picked up pace in recent times to cater to the tastes of an increasingly affluent population, which is also living a hectic and super-occupied life. These ingredients thus help keep food logistics decongested and improve consumer confidence over the stability of food items, as per Transparency Market Research. It further notes that from the year 2020 to 2030, growth opportunities for players would emerge in the shelf life extension ingredients market.
Global Shelf Life Extension Ingredients Market: Notable Developments
The players operating in the global shelf life extension ingredients market are looking to expand operations by acquiring smaller production facilities and investing in innovations to ensure availability of varied additives to add to food items. Some notable developments in this regard are:
In January 2019, Kemin, a global nutritional ingredient company launched NaturCEASE™ Dry, which is a combination of natural plant extracts and vinegar to preserve processed meat products. This is leading to higher competition and to a consolidated market position for Kemin.
In the same year, researchers from US based Penn State University studied a class of compounds called Alkylresorcinils in grain plants such as barley, rye and wheat. These compounds are antioxidant and antimicrobial in nature, preventing bacterial and mold growth on food.
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Global Shelf Life Extension Ingredients Market: Key Trends and Drivers
- The food packaging industry grew steadily over the last few years. An increased demand for this service comes from a fast paced population that needs food on the go. As more and more people are employed in the industrial workforce, it has become challenging to cook and cater for oneself. This is creating demand for foods with a notable shelf-life.
- Frozen foods are quickly reheated and ingested to save on precious time. These foods are built to last long and gain instant freshness on cooking by adding shelf life extension ingredients. The global frozen food market is projected to grow at a notable rate over the next few years. A major part of this market is the frozen fruits segment, which enables tropical countries to export exotic fruits to developed nations. This has been made possible by the use of shelf life increasing agents that enable long term shipping around the globe.
- A hindrance to the growth of this market could be the increasing legislation against adding chemical substances to food by various governments, an example being a 2019 publication by the European Court of Auditors to ensure food safety by limiting chemical additives. This restraint could be overcome by the advent of natural ingredients that expand shelf life.
Global Shelf Life Extension Ingredients Market: Regional Analysis
North America and Europe are estimated to be global leaders in the shelf life extension ingredients market in the future. An increasingly affluent population which likes to taste new food items will lead to this growth.
The Asia Pacific region (APAC) is expected to register the fastest growth rate in this market owing to a robust food packaging and export industry. As stated, exotic foods are finding demand in developed regions of the world. This is set to give impetus to regional players here to use additives to increase longevity of food items for transport.
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4. Which regions might see the demand maturing in certain segments in near future?
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