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Food Preservatives Market

Naturally Sourced Food Preservatives to Acquire High Revenue Share through 2031: Fact.MR Study

Published : 09 Sep 2021 Industry: Food & Beverage

According to Fact.MR’s recent study, the global food preservatives market is projected to grow at nearly 3.9% CAGR between 2021 and 2031, surpassing US$ 4.1 Bn by the end of 2031. In the short-run, by 2021, the market is expected to reach US$ 2.8 Bn, mainly spurred by emphasis on naturally sourced preservatives.

From 2016 to 2020, food preservative sales surged at a CAGR of 3.7%, reaching US$ 2.5 Bn by the end of the said historical period. Widening health concerns regarding synthetic preservatives consumption and their potential to weaken immunity led to an expansion of natural food preservatives sales throughout the course of the COVID-19 pandemic.

With consumer inclination towards food that provides comfort and familiarity, the food preservatives market is expected to experience gradual growth through 2031. In the wake of toughening regulations, manufacturers are introducing safe and naturally sourced food preservatives. For instance, in January 2018, Arjuna Natural Extracts Ltd introduced X-tend- a complete, natural, formulation specific preservative designed to enhance shelf-life of chilled meat products and ensure food safety.

Key Takeaways from the Market Study

  • North America to account for nearly 1/3rd of the global food preservatives market, expected to grow 1.6x
  • U.K food preservatives market to expand at a CAGR of 4% until 2031
  • Synthetic food preservatives to account for more than 4 out of 5 sales through 2031 
  • Natural food preservatives expected to acquire a significant share during the forecast period.
  • Sales for antimicrobial food preservatives to yield over 75% of global revenue
  • Bakery and processed foods to account for half of all food preservatives sales

“Market players primarily focused on natural or plant-based sources of food preservatives will largely benefit from consumer optimism about natural or chemical-free products. These players can also gain advantage from clean label certifications for food preservatives,” says the Fact.MR analyst.

Competitive Landscape

Companies such as BASF SE, Cargill, Incorporated, Celanese Corporation, and Chr. Hansen A/S have been at the forefront of these innovations. A majority of companies operating in the food preservatives market have been expanding their product portfolio to attract and retain a large number of consumers.

  • For instance, in May 2021, Cargill Incorporated announced EpiCor® postbiotic, which is a dried yeast fermentate providing immune system support. The postbiotic is used in popular supplements and enables food and beverage manufacturers to incorporate EpiCor® into a variety of foods and beverages. 
  • Consumers are seeking food and beverages that offer better ways to support their health and Cargill’s solutions like EpiCor® postbiotic that support digestive and immune health at all stages of life. 

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the global food preservatives market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. 

The study divulges compelling insights on the food preservatives market on the basis of product (natural and synthetic {benzoic acid, sorbic acid, lactic acid, propionic acid, and others}), function (antimicrobial, antioxidants, and others), and applications (bakery & processed food, beverages, dairy & milk products, meat, poultry & seafood, and others) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).

Fact.MR’s Domain Knowledge in Food & Beverages

Our food and beverages consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the food and beverages sector. Our expertise in recognizing the challenges and trends impacting the global food and beverages industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For more information, refer to our market research report or contact the PR author.

Santosh Kumar

Fact.MR

Sr. Consultant – Food and Beverages

E-mail: santosh@factmr.com

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Food Preservatives Market

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Food Preservatives Market Analysis, By Product (Natural Food Preservatives, Synthetic Food Preservatives (Benzoic Acid, Sorbic Acid, Lactic Acid, Propionic Acid) ), By Function (Antimicrobial Food Preservatives, Antioxidant Food Preservatives) - Global Review 2021 to 2031