Food Preservatives Market Trends by Rising Concerns over Food Safety

The food preservatives market consists of additives used to prevent spoilage of food products by inhibiting the growth of microorganisms like bacteria, molds, fungi, or yeasts and reducing the activity of enzymes that contributes to food spoilage. These preservatives help extend the shelf-life of food products and retain their freshness, taste, and nutritional value for longer. They are commonly used in a variety of products like bakery and dairy goods, fats and oils, beverages, confectionary, and others. The growing demand for ready-to-eat foods and increase in food processing have boosted the consumption of food preservatives.

Global food preservatives market is estimated to be valued at USD 3.47 Bn in 2024 and is expected to reach USD 4.72 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.

Key players operating in the food preservatives market are BASF SE, Kerry Group Plc, Kemin Industries, Inc., DuPont Nutrition and Biosciences, ADM, Foodchem International Corporation, Corbion, Celanese Corporation, Jungbunzlauer Suisse AG, Cargill, Inc.

Key Takeaways

Key players: Key players operating in the food preservatives market are BASF SE, Kerry Group Plc, Kemin Industries, Inc., DuPont Nutrition and Biosciences, ADM, Foodchem International Corporation, Corbion, Celanese Corporation, Jungbunzlauer Suisse AG, Cargill, Inc.

Growing demand: The rising working population coupled with busy lifestyles has led to increased Food Preservatives Market Trends for convenience and ready-to-eat food products. This has propelled the consumption of food preservatives to enhance the shelf-life of such products.

Global expansion: Leading manufacturers are expanding their production facilities across developing regions to cater to the rising demand. They are also focusing on emerging economies in Asia Pacific and Latin America for global expansion opportunities.

Market Key Trends

One of the key trends in the Food Preservatives Market is the growing demand for natural alternatives. Consumer perception about artificial preservatives has changed significantly over the past few years. They prefer food products containing clean label ingredients. This has pushed companies to develop natural solutions derived from plant and fruit extracts to attract health-conscious consumers. For instance, grapefruit seed extract and rosemary extracts are some of the widely used natural food preservatives.

Porter’s Analysis

Threat of new entrants: The food preservatives market is a mature market with established players. However, small regional companies can enter market with niche products.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and competition among existing players.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to proprietary technologies and formulations required for production.

Threat of new substitutes: Threat of substitution is low as food preservatives have well-established applications and no direct replacements.

Competitive rivalry: The market is dominated by global players. Competition is high based on pricing, product differentiation and marketing.

Geographical Regions

North America accounts for the largest share of the global food preservatives market, both in terms of value and volume. This is attributed to growing demand for convenience and packaged food in the region.

Asia Pacific is expected to be the fastest growing regional market due to rising incomes, growth of food processing industry and changing lifestyles in countries such as China and India. Increasing demand for packaged food and meat products is driving growth of food preservatives market in Asia Pacific.

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.