Food Preservatives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The global food preservatives market is forecasted to grow with a CAGR of 3.7% during the forecast period (2020 - 2025).

• The market is driven by the increasing demand for clean label solutions, rising consumption of processed and packaged food, and complexity in the supply chain in the food industry. The increasing penetration in the organized retail sector is likely to drive the food preservative market, particularly in emerging markets.
• The major restraints for the market include the higher cost of natural preservatives (which are in higher demand) and consumer awareness of the side effects of synthetic preservatives.

IMPACT OF COVID-19 ON THE MARKET

• The COVID-19 outbreak has led to elevated sales of retail and long-shelf products across the global market pertaining to restrictions on going out. Hence, major population across the world engaged into stock piling of groceries, and packaged food products for their households. This eventually had a positive impact on the industrial demand of food preservatives for a mid-term. The major application segments which witnessed elongated demand during pandemic period were bakery, frozen foods, snacks, and others. Also, an influx was witnessed in the consumer demand for Ready-to-Eat (RTE) meals which created equal opportunities for food preservative manufacturers in the recent term.

Scope of the Report

The global food preservatives market offers a variety of preservatives including natural and synthetic type applicable to beverage, dairy & frozen product, bakery, meat, poultry & seafood, confectionery, sauces & salad mixes, and other industries. The study also covers a global level analysis for the major regions namely, North America, Europe, Asia-Pacific, South America, and the Middle East and Africa

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Key Market Trends

Rising Demand for Functional Beverages

The booming beverage industry is majorly uplifting the consumption of ingredients including preservatives which is most likely to foster market growth. The properties of drinks such as high water activity demand the irreplaceable use of preservatives in the beverage industry is to avoid the change in taste, color, and bitter aftertaste. Moreover, with the rise in demand for functional beverages, the market for natural preservatives is gaining momentum. Manufacturers are embracing innovation for gaining a position in the market by incorporating organically sourced preservatives in the product formulation. Key players such as Cargill, Incorporated offers a range of natural preservatives to cater to the growing demand.

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