Global Food Preservatives Market Is Estimated To Witness High Growth Owing To Increasing Demand Overview

Food Preservatives Market

Preservatives also help prevent a reduction in the nutritional value of foods by slowing the deterioration of vitamins and other nutrients. Applications of food preservatives are incredibly varied. They protect packaged foods from spoiling or deteriorating by slowing the processes that cause them to do so. These include microbial, fungus and yeast growth; changes in color, texture and taste; and rancidity. Preservatives are used in everything from alcoholic beverages to canned vegetables and frozen desserts. Many of these substances are naturally-occurring, as they can also be created in the lab using a variety of chemical compounds. While the names of these compounds may sound more like they belong in a chemistry experiment than on a food label, many of them have been extensively studied and proven safe for human consumption. Preservatives can also make food more accessible to people in rural or remote areas where fresh foods are not as readily available.

Market Dynamics:

Rising product launches are estimated to augment growth of the global food preservatives market during the forecast period. For instance, DelvoGuardcultures was launched by DSM in March 2022. They will be offering solutions for extending shelf life of dairy products like fresh cheese, sour cream, and yogurt. Moreover, growing demand for organic foods and limited resources are anticipated to restrain growth of the global food preservatives market during the forecast period.

Impact of COVID-19:

COVID-19 was first identified in 2019 in China. Later on it was transmitted to other nations. The pandemic affected the growth of several businesses globally. Trade activities were hampered das there was a shortage of raw materials in many regions. This was also caused due to disruptions in supply chains. The pandemic also led to shutting down of production activities in many sectors including the food sector. Consuming were opting for more organic products over processed food items. Thus, the pandemic had a negative impact on the demand of food preservatives globally. This hindered the growth of the global food preservatives market.

Key Takeaways:

The global Food Preservatives Market is expected to witness high growth, exhibiting CAGR of 4.50 % over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Due to increasing business expansion by key players. For instance, Tate & Lyle PLC declared the construction of a new biomass in November 2021, in Santa Rosa, Brazil.

North America is anticipated to witness significant growth in the global food preservatives market during the forecast period, due to growing demand for preservatives and rising demand for processed foods.

Key players operating in the global Food Preservatives Market are Jungbunzlauer Suisse AG, Hawkins Watts Limited, Prinova Group LLC, DSM, AJINOMOTO CO.,INC., Cargill, Celanese Corporation; Kilo Ltd, Kemin Industries, Inc., Corbion, Univar Inc., and Tate & Lyle.