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Food Preservatives Market

Food Preservatives Market

Food Preservatives Market Forecast, Trend Analysis & Competition Tracking - Global Review 2021 to 2031

Food Preservatives Market
FACT2250MR
  • Sep-2021
  • List of Tables : 112
  • List of Figures : 92
  • 170 Pages
  • Food & Beverage

Market Snapshot

Fact.MR’s recent study on the global food preservatives market estimates the global demand for food preservatives to grow at a steady clip of 3.9% CAGR, set to touch US$ 2.8 Bn in 2021. Sensing the opportunities, food preservative manufacturers are relying on new product development and strategic mergers. As per Fact.MR’s analysis, top 5 players account for nearly 40% share, with the U.S, Germany, Spain, France, and China projected to emerge as the top 5 markets.

Key Points Covered in the Food Preservatives Industry Survey

  • Market Estimates and Forecasts (2017-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • Assessment by Product Grade / Purity / Formulation Standards
  • Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
  • Certifications and Compliance Requirements
  • COVID-19 Impact on the Food Preservatives Industry and How to Navigate
  • Recommendation on Key Winning Strategies

food preservative market by FactMR

Know More Details About the Report

Consumption Analysis of Food Preservatives from 2016-2020 Vs Outlook for 2021-2031

As per Fact.MR – a market research and competitive intelligence provider, over the last 5 years, the global market for food preservatives expanded at 3.7% CAGR, registering an impressive valuation of nearly US$ 2.5 Bn by the end of 2020.

The market has witnessed multiple product launches and innovations during recent years. Companies such as BASF SE, Cargill, Incorporated, Celanese Corporation, and Chr. Hansen A/S have been at the forefront of these innovations. 

Companies are expanding their product portfolios to attract and retain a large number of consumers. In the view of aversion among consumers towards chemical-based food products, companies have been tackling performance issues with partial substitution of synthetic preservatives. Fact.MR report projects the global food preservatives market to grow at a steady clip of 3.9% CAGR, set to touch US$ 2.8 Bn in 2021, eventually surpassing US$ 4.1 Bn by 2031. 

How are Natural Variants expected to Shape Future Prospects?

Demand for food preservatives continues to gain a boost from their ability to extend shelf life and inhibit natural aging and discoloration of food products. With greater awareness about chemical and synthetic additives, health-conscious consumers are increasingly shifting towards natural and allergen-free food. The result is expected to lead to increased demand for natural food preservatives.

Natural food preservatives are highly preferred by manufacturers owing to various factors. For instance, they help in avoiding spoilage during transportation.  The global nature of food sourcing and increasing complexities in the food supply chain has resulted in increasing demand for products and techniques required to prolong the shelf-life of the food product, thus increasing the demand for natural variants of food preservatives.

In February 2020, Cargill announced its new private label plant-based patties and ground products. The new offerings are part of Cargill's inclusive approach to the future of protein – advancing both animal and alternative protein products to meet the expected 70% growth in global demand for protein over the next 30 years.

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Is Rising Consumption of Functional Beverages Boding Well for Market Growth?

Growing consciousness about the health benefits imparted by functional foods is prompting increased consumption of functional beverages. Beverage manufacturers are focusing on innovation for gaining a position in the market by inducing natural preservatives in their formulation process. 

Beverage giants such as PepsiCo and The Coca-Cola Company are investing heavily in the areas of production, enhancing their manufacturing capacity, and improving their product quality, all of which has led to increasing demand for preservatives. 

For instance, in March 2021, Corbion announced the launch of an initiative to increase its capacity for producing lactic acid and lactic acid derivatives. Manufacturers in multiple industries look to lactic acid and its derivatives as essential enablers of their business growth. Corbion’s purpose is to help preserve what matters- food and food production, human health, or the environment and natural resources. 

Country-Wise Analysis 

Why are Manufacturers Capitalizing on the North American Landscape? 

North America is projected to be the largest revenue contributor to the global market for food preservatives through 2031. North America is a mature market, accounting for one-third of the global market value. Demand for convenience and processed food is propelling the manufacturers to use food preservatives in order to enhance the shelf life of the food products and ensure a long-lasting experience. 

North America is a major exporter of fruits, thus increasing the demand for natural preservatives. According to USDA's Foreign Agricultural Service's (FAS) 2020 U.S. Agricultural Export Yearbook, 2020 was the second-highest year for US agriculture exports, totaling nearly US$ 146 billion, showing an increase of approximately 7%.

Moreover, owing to the increasing awareness related to several risks associated with chemical preservatives has driven the market for natural preservatives in the region. North America is introducing highly regulated policies related to food ingredients, leading to lucrative growth opportunities for manufacturers. Hence, demand for natural food preservatives is projected to grow 1.6x.

Why is the U.K Food Preservatives Industry Receiving Tailwinds?

Food preservative manufacturers in the U.K are likely to find significant growth opportunities, given the increasingly toughening regulations on food & beverage sales in recent years.  

The country has made significant strides with regard to incorporating natural food preservatives. Back in 2002, the U.K Asthma & Allergy Research Centre, working on behalf of the Food Standards Agency (FSA) discovered that major changes were noticed in hyperactivity amongst children by removing artificial coloring and food additives from their diet.

Hence, food manufacturers are making efforts to include natural food preservatives across all their product offerings. According to Fact.MR, the market for food preservatives in the U.K will surge at a CAGR of 4% from 2021 to 2031.

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Category-Wise Insights

Why is Bakery & Processed Food Segment Taking the Lead? 

Application of food preservatives in bakery and processed food accounts for nearly 50% of the total market value. The rapid expansion of the bakery industry and consumers’ shift towards prepared meals-to-go in grocery and C-store chains are significantly contributing to strong demand for food preservatives. 

Manufacturers are currently focusing on multiple launches of plant-based food preservatives to fulfill the newer demand and innate needs of the bakery industry. They are rolling out better-for-you offerings, gaining greater acceptance with today’s consumers. 

How are Antimicrobial Food Preservatives Attracting Attention?

Food preservatives for imparting antimicrobial properties are likely to gain major traction. As per Fact.MR’s projections, the segment accounted for over 3/4th revenue share as of 2020. These are extensively used in bakery and milk products.

Agents such as sodium propionate and calcium propionate are used as mold inhibitors in cheese, cakes, breads and other baked products. Furthermore, naturally sourced agents, from the likes of rosemary extracts, are also gaining significant attention.

Competitive Landscape 

Competition in the global food preservatives market is expected to rise, with players focusing on gaining a competitive advantage and increasing their market foothold. They are increasingly focusing on investing in research and developments to cater to the requirements of end-use industries.

  • 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. 

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Report Scope 

Attribute

Details

Market size value in 2021

USD 2.8 Billion

Market forecast value in 2031

USD 4.1 Billion

Growth Rate

CAGR of 3.9% from 2021 to 2031

Forecast Period

2021-2031

Market Analysis

US$ Mn for Value & Tons for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • Italy
  • France
  • U.K
  • Spain
  • Russia
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • GCC
  • Turkey

Key Market Segments Covered

  • Product
  • Function
  • Application
  • Region

Key Companies Profiled

  • BASF SE
  • Cargill Inc.
  • Celanese Technology
  • Chr. Hansen Holding A/S
  • Corbion N.V
  • DuPont de Nemours Inc.
  • JEYS F.I Inc.
  • Kerry Group Plc.
  • Koninklijke DSM N.V
  • The Archer Daniels Midland Company (ADM)

Pricing

Available upon Request

Key Segments Covered

  • Product

    • Natural Food Preservatives
    • Synthetic Food Preservatives
      • Benzoic Acid
      • Sorbic Acid
      • Lactic Acid
      • Propionic Acid
      • Others
  • Function

    • Antimicrobial Food Preservatives
    • Antioxidant Food Preservatives
    • Other Food Preservatives
  • Application

    • Bakery and Processed Food Preservatives
    • Beverage Preservatives
    • Dairy and Milk Products Food Preservatives
    • Meat, Poultry and Seafood Preservatives
    • Food Preservatives for Other Applications

Food Preservatives Market- Scope of Report

A recent study by Fact.MR on the food preservatives market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering food preservatives.

The study also provides the dynamics responsible for influencing the future status of the food preservatives market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the food preservatives market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of food preservatives across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of food preservatives during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

  • Which are the most lucrative food preservatives markets?
  • Which factors will impact the growth of food preservatives?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the food preservatives industry?
  • What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (Tons) and value (US$ Mn).

Estimates at global and regional levels for food preservatives are available in terms of “US$ Mn” for value and in “Tons” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report.

Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global food preservatives market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the food preservatives market during the forecast period.

Country-specific valuation on demand for food preservatives has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of food preservatives, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering food preservatives has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player.  Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the food preservatives domain. 

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the food preservatives industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.

- FAQs -

As of 2021, global food preservatives sales are expected to be valued at US$ 2.8 Bn

From 2016 to 2020, food preservatives growth expanded at a CAGR of 3.7%

The global food preservatives market is envisaged to account for over US$ US$ 4.1 Bn by 2031

As per Fact.MR analysis, top 5 players account for nearly 40% share. 

U.S, Germany, Spain, France, and China are projected to stand as the top 5 markets for food preservatives

Rising popularity of natural food preservatives is anticipated to generate new growth frontiers for key manufacturers

Fact.MR expects North America to expand 1.6x across the 2021-2031 assessment period

The food preservatives industry in the U.K is likely to surge at a CAGR of 4% until 2031

Application across bakery & processed foods will reign supreme, contributing 50% of global revenue

Food preservatives for imparting antimicrobial properties will be the primary function, accounting for 3/4th of total demand

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.