The food preservatives market is expected to grow at a substantially low compounded annual growth rate in the coming five years.
London, UK -- (SBWIRE) -- 03/10/2015 -- Food preservatives are ingredients added to food to prevent decomposition by reducing microbial growth. Preservatives in food help maintain its freshness and shelf life. Food preservatives are classified into two categories, viz. Class 1 preservatives or natural preservatives and Class 2 preservatives or chemical preservatives. Natural preservatives include salt, vinegar, spices, honey and syrup. Chemical preservatives include sorbates, nitrates of potassium, glycerides and benzoates. Both natural and chemical preservatives are divided into three types - antimicrobials, antioxidants and anti-enzymatic preservatives.
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The major advantage of food preservatives is that it helps to store food for a long time. Food with preservatives can be consumed over a long period of time and help reduce wastage of food. Increase in business of food products has led to the need to adopt food spoilage prevention and reduction techniques which resulted in the development of food preservatives market.
The food preservatives market is expected to grow at a substantially low compounded annual growth rate in the coming five years. The market for food preservatives is expected to increase and achieve a market value of US $ 2.55 billion globally by 2020. There is an increase in demand of natural food preservatives in established markets and a persistent demand for preservative-treated food in developing markets. Other growth drivers include varying lifestyles of the people and a booming food & beverage industry. Growing population and rising awareness about safety of food and its quality are the growth factors for food preservatives market. Change in lifestyle has considerably increased the demand for convenience foods which further enhance the demand for food preservatives. Globalization, world trade, converging consumer choices are key success factors of this market. In order to further increase the life of food products, natural preservatives are replaced by chemical preservatives.
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Based on type of food, the food preservatives market is segmented into natural food preservatives and chemical food preservatives. The market can be segmented on the basis of applications into bakery and confectionery, dairy products, meat products, beverages, packaged foods, frozen foods, fresh produce and others. Based on geographies, the food preservatives market is segmented into Western Europe, North America, Asia-Pacific and RoW (Rest of the World).
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