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Food Preservatives Global Market Report 2021: COVID-19 Growth And Change

Food Preservatives Global Market Report 2021: COVID-19 Growth And Change

  • November 2021
  • 175 pages
  • ID: 6187355
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the food preservatives market are Kerry Group, Dupont De Nemours Inc, BASF SE, Cargill Incorporated, Celanese Corporation, Corbion N.V, Archer Daniels Midland Company, Galactic S.A., Kemin Industries Inc., Koninklijke DSM N.V., Tate & Lyle PLC., Brenntag Solutions Group Inc., Albemarle Corporation, Akzo Nobel N.V., Univar Inc., Danisco A/S, Hawkin Watts Limited, ABF Ingredients Ltd., Ajinomoto Co. Inc, Jungbunzlauer Suisse AG, Grupo Bimbo, and Hansen Holding A/S.

The main types of food preservatives are synthetic and natural.Synthetic preservatives are chemical substances that get added to food during the manufacturing process and are used in food and wine to preserve their nutrients, taste, and appearances.

The different functional types include anti-microbial, anti-oxidant, chelating agents, enzyme attackers and are used in beverages, oils and fats, bakery, dairy and frozen products, snacks, meat, poultry, confectionery, others.

The global food preservatives market is expected to grow from $2.36 billion in 2020 to $2.55 billion in 2021 at a compound annual growth rate (CAGR) of 8.1%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.00 billion in 2025 at a CAGR of 4.1%.

The food preservatives market consists of sales of food preservative products by entities (organization, partnership, sole traders) that are used to preserve food from any kind of spoilage and bacterial impact.Food preservatives are chemicals or natural ingredients including salt, vinegar, sugar, sorbates, nitrites, and others that are added to the food to prevent decomposition of microbial growth.

Food preservatives can be toxic and non-toxic depending on the degree of toxicity they exert on food and are used in different food processing levels.

North America was the largest region in the food preservatives market in 2020.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The increasing consumption of ready-to-eat food owing to busy lifestyles is expected to propel the growth of the food preservatives market in the coming years.Ready-to-eat food uses various kinds of natural and artificial preservatives to minimize the chances of spoilage due to microbial reactions and boost food quality.

The higher demand for processed or ready-to-eat food is due to the increasing working population that prefers to consume convenient food rather than cooking it at home.For instance, according to an Assocham (Associated Chamber of Commerce and Industry of India) survey conducted in 2020, roughly 79% of Indian households prefer instant food due to lack of time.

Therefore, the high consumption of ready-to-eat food drives the growth of the food preservatives market.

The growing use of natural preservatives is an emerging trend in the food preservatives market.Consumers are increasingly becoming concerned about the negative impact of preservatives and preferring natural alternatives including organic acids, salt, sugar, and others.

Major companies operating in the food preservatives sector are shifting their focus towards natural preservatives solutions to offer a range of clean label preservation to strengthen their position.For instance, in 2021, Kerry Group, an Ireland-based food company expanded its range of clean label preservative solutions to replace traditional sodium nitrite salts to provide safer consumer-friendly preservatives for beverages.

The rising development of clean label preservatives is vital to food and drink solutions and determines the success of such products in the market going forward.

In June 2021, Kerry Group, an Ireland-based food company acquired Niacet for $1 billion.The acquisition is expected to complement the clean label focus of Kerry Group by expanding their product portfolio to conventional organic acids, vinegar-based preservation technologies, and drying and granulation processes and enhance their leadership position in the food preservation market.

Niacet is a US-based company that produces food preservatives.

The countries covered in the food preservatives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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