Food preservatives are chemicals that are added to or sprayed on food to prevent fungi, bacteria, and other hazardous microbes from growing. Natural and synthetic preservatives are the two types of food preservatives. According to statistics supplied by Coherent Industry Insights in 2016, natural food preservatives dominate the market. Preservatives are used in food to extend shelf life and preserve optimal quality, therefore the market is predicted to develop as the population grows and the prevalence of foodborne diseases rises. Food and beverages are preserved after food preservatives have been added to limit the risk of bacterial contamination. Furthermore, throughout the projected period, the increased frequency of different foodborne diseases and disorders such as stomach discomfort, vomiting, and diarrhea are expected to drive demand for food preservatives.
In 2016, the worldwide Food Preservatives Market was dominated by the meat, poultry, and seafood segment, and this trend is likely to continue over the forecast period. The worldwide food preservatives market is predicted to be driven by the need for protein foods and organized retail. Furthermore, the global food preservatives market is likely to be fueled by changing demography and an increase in disposable income, particularly in Latin America and the Asia Pacific, as well as innovation in meat processing technologies.
Government regulations are one of the primary issues facing the global food preservatives market. The Food Safety and Standards Authority of India (FSSAI) of the Indian government, for example, banned the use of potassium bromate and cyclamates in food in June 2016. In addition, in July 2008, the Government of the Hong Kong Special Administrative Region issued new regulations governing the use of preservatives and antioxidants in food. The National Food Safety Standard for Food Additive Use (GB2760-2014) was also introduced by China's National Health and Family Planning Committee in December 2014, and it went into effect in May 2015.
Regional Perspectives
In terms of revenue, Europe led the global food preservatives market in 2016, followed by North America and the Asia Pacific, and this trend is expected to continue over the forecast period. In terms of value, Europe had the greatest share of the worldwide food preservatives market in 2016, with 28.1 percent. The global food preservatives market is predicted to rise due to the rising demand for confectionary foods in the Asia Pacific as a result of rising population, greater urbanization, and a growing retail and hospitality sector over the forecast period.
With the help of geographical expansion, multinational firms need to tap into the potential addressable market in emerging regions.
The important market trends that are predicted to shape the sector in the near future are product portfolio growth and geographic expansion.
Regional Perspectives
In terms of revenue, Europe led the global food preservatives market in 2016, followed by North America and the Asia Pacific, and this trend is expected to continue over the forecast period. In terms of value, Europe had the greatest share of the worldwide food preservatives market in 2016, with 28.1 percent. The global food preservatives market is predicted to rise due to the rising demand for confectionary foods in the Asia Pacific as a result of rising population, greater urbanization, and a growing retail and hospitality sector over the forecast period.
With the help of geographical expansion, multinational firms need to tap into the potential addressable market in emerging regions.
The important market trends that are predicted to shape the sector in the near future are product portfolio growth and geographic expansion.
Univar Inc., Hawkins Watts Limited, Cargill Inc., DSM N.V., Galactic, Danisco A/S, Tate & Lyle PLC, Brenntag AG, Kemin Industries Inc., and AkzoNobel N.V. are among the major companies in the worldwide food preservatives industry.
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