The global food preservatives market was valued at USD 2,000 million in 2013 and is estimated to reach USD 2,560 million by 2020 in terms of revenue. The market in terms of revenue is projected to grow at a CAGR of 3.5% from 2014 to 2020.
Albany, NY -- (SBWIRE) -- 03/15/2016 -- Food preservatives are ingredients which are added to the end food product to extend its shelf life and to prevent food spoilage due to microbial growth. Food preservation can be done with the help of natural food preservatives and synthetic food preservatives. Global food preservatives market is expected to witness a decent growth over the forecast period. The major factors contributing to the growth of this market are growing demand for processed and packaged food, which in turn helps the food preservatives market to grow, and is increasing demand for organic food items. In addition, the growing demand and increasing concerns towards food safety are also helping the global food preservatives market to grow.
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This report provides a strategic analysis of the global market for food preservatives and offers the growth forecast for the period, 2014 to 2020. The scope of the report includes a competitive analysis of the market segments based on the products from different regional markets. The report also strives to compile together a broad view of the characteristics of the food preservatives market by providing historical data from 2013 and forecast up to 2020 along with a detailed analysis of the revenues. The report also identifies various factors affecting growth, which includes market drivers, restraints and opportunities. These factors determine various market trends which impact growth. Inflation is not a part of pricing in this report. The global organic personal care products market size is provided in terms of revenue. Market revenues are defined in USD million. Market size and forecasts for each product type is provided in the context of global as well as regional markets.
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By product type the global food preservatives market has been segmented into two types; natural and synthetic. The market is segmented into three types in case of function segment including antimicrobial, antioxidants and others. By application the global food preservatives market is segmented into five types which are dairy and milk products, meat poultry and sea food products, bakery products, beverages products and others.
By geography, the market is segmented into four regions; North America, Europe, Asia Pacific and RoW. The North America is the largest market for food preservatives in 2013 and is expected to be the same by 2020. However, RoW is expected to be the fastest growing market for the food preservatives during the forecast period.
Preservatives are added to food products to prevent decomposition and unwanted bacterial growth. Currently, using preservatives in bakery and dairy products, beverages, meat and poultry has become the accepted method to resolve quality issues of the food industry worldwide. Food preservatives are used to keep food products safe for a long duration of time. Food preservatives can be categorized into two major segments - natural and synthetic. Preservatives included under synthetic food preservatives are benzoic acid, sorbic acid, lactic acid, and propionic acid among others. Busy lifestyles and increasing number of working people is fueling the demand for processed food. With the current market trend, manufacturers are using preservatives for maintaining the quality and standard of food for long durations. Rising concerns for health hazards is increasing the demand for food preservatives globally.
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Synthetic is the fastest growing segment of the global food preservatives market. Healthy eating trends and preferences for quality food are fueling the demand for food preservatives globally. Sensing consumer interest towards convenient and ready to eat products, manufacturers are using food preservatives to maintain the quality and taste of the food products. With high growth rates of the food industry, major manufacturers are using both synthetic and natural preservatives to avoid the health hazards caused by unwanted bacterial growth.
The key players dominating the market for the food preservatives are, BASF SE, Cargill Incorporated, Celanese Corporation, Chr Hansen A/S among others.
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