Food preservative manufacturers are turning their focus clean label food trends to combat growing consumer hesitation towards foods with conventional preservative formulations.
ROCKVILLE, MD / ACCESSWIRE / August 27, 2020 / The global food preservatives market is expected to hit a US$ 2.5 billion valuation between the assessment years from 2020 to 2030. The coronavirus pandemic is expected to have a marginal impact on the food preservatives market. Growing consumer health consciousness has reduced demand for commercial foods with synthetic preservatives. However, growth in consumption of convenience foods is likely to generate growth opportunities particularly for natural alternatives.
"Consumers are increasingly preferring ready-to-eat foods instead of home preparations owing to hectic lifestyles. Such foods comprise various preservatives to boost quality and minimize waste from microbial activity, which will contribute to demand for food preservatives in the years ahead," says the FACT.MR analyst.
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Food Preservatives Market- Key Takeaways
- Sodium propionate anti-microbial food preservatives contribute significantly to revenues with high demand for bakery and confectionary applications.
- Natural and organic food preservative formulations are reflecting fast growth, supported by regulatory acceptance and clean label trends.
- Asia Pacific is displaying rapid growth in food preservative adoption supported by demand for ready-to-eat foods, and the expansion of working populations.
Food Preservatives Market- Driving Factors
- Growing international food trade is a key factor contributing to the use of food preservatives.
- Safety and hygiene regulations governing the food industry contribute to preservative sales.
Food Preservatives Market- Major Restraints
- Growing consumer bias against synthetic food preservatives, owing to potential health risks hurts sales.
- Preservative free food processing methods are gradually gaining traction and holding back market demand.
COVID-19 Impact on Food Preservatives Market
The coronavirus pandemic has had a marginal impact on the food preservatives industry. The growth in health consciousness among consumers is a major factor hindering the adoption of synthetic food preservatives during this period. On the other hand, demand for processed convenience food has remained strong during the crisis, which provides opportunities for preservative manufacturers to capitalize on. Natural and organic preservatives are expected to make major inroads, and demand is likely to remain strong even after the end of the pandemic.
Explore the global food preservatives market with 170 figures, 92 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/report/2250/food-preservative-market
Competitive Landscape
BASF SE, Chr. Hansen Holding A/S, Corbion N.V., and Cargill Inc. are some of the leading food preservative manufacturers in the global market.
Food preservatives manufacturers are primarily invested in product innovations and portfolio expansion incorporating natural and clean label trends to meet evolving needs of the food & beverage industry.
For instance, Lycored has unveiled tomato-based colors which can be used in milk products for not only aesthetics, but also to increase product stability in varying retail environments. Niacet has introduced Provian Plus a dry vinegar-based food preservative aimed towards plat-based meat alternatives. Corbion has announced a new strategy for investments into lactic acid and natural food preservation through 2025.
About the Report
This study offers readers a comprehensive market forecast of the food preservatives market. Global, regional and country-level analysis of the top industry trends impacting the food preservatives market is covered in this FACT.MR study. The report offers insights on the food preservatives market on the basis of product (natural and synthetic), function (antimicrobial, antioxidant, and others), and application (bakery & processed food, beverages, dairy & milk products, meat, poultry & seafood), across six regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
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Expert analysis, actionable insights, and strategic recommendations of the veteran research team at FACT.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over a thousand reports and 1 million+ data points, the team has scrutinized the food and beverages sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
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SOURCE: Fact.MR