A rise in disposable income, a rising number of working couples, and the growing number of food service outlets and restaurant, etc. is one of the prominent reasons driving the food preservatives Market.  Furthermore, the growing demand for junk and processed food among millenniums is also a key reason which is contributing to the growth of the market. For Instance: In 2020, the number of pizza restaurants established was 78,092 in the United States alone. Even after the year-on-year fluctuations, the number of pizza restaurants increased by roughly 6,000 units over the past 9 years. Thus, there has been intense competition among the independent chains of pizza and restaurants as they offer the same products.

The Food Preservatives Market is expected to grow at a steady rate of around 5% owing to the growth in disposable income, the rising number of working women, and the rise in the tourism industry. Also, a rise in the millennial working population with changing preferences for ready-to-eat foods and changes in taste preferences coupled with the growing need for customized and newer food options has fueled the growth of the food preservatives market.

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 According to UnivDatos Market Insights (UMI)’ research report “Global Food Preservatives Market”, the market is expected to witness robust growth during the forecast period (2022-2028).  A growing number of food service outlets across countries is contributing to the growth of the market. As per the U.S department of agriculture, the food service and food retailing industries supplied about USD 1.8 trillion worth of food in 2019. In 2020, the food service and food retailing industries supplied about USD 1.7 trillion worth of food.

Based on type, the market is segmented into natural and synthetic.  The synthetic segment grabbed the major market share and dominated the market in 2020.  The synthetic type is widely used as it is economical and easy to formulate. They can be formulated depending on the application requirements. Based on type, the market is classified into natural and synthetic types. However, with the growing awareness about the health benefits associated with the natural preservative, the demand for natural preservatives is increasing.

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Based on the application, the market is categorized as Meat & Poultry Products, Bakery Products, Dairy Products, Beverages, and Others. Among these, Meat & Poultry segment grabbed the major market share and dominated the market in 2020. The processed meat, poultry, and seafood industry are expanding at a significant rate globally, which is expected to drive the demand during the forecast period. Food preservatives are used in a wide variety of applications including bakery, meat and poultry, seafood, beverages, confectionery, oils and fats, and dairy and frozen products.

North America to witness extensive growth

For a better understanding of the market adoption of the Food Preservatives industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period owing to the growing number of food and beverage manufacturing establishments. However, the Asia Pacific region would witness considerable growth during the forthcoming years.

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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Food Preservatives market are Cargill Inc., Kemin Industries Inc., ADM, Tate & Lyle, Koninklijke DSM N.V., BASF SE, Celanese Corporation, Corbion N.V., Galactic S.A., and Kerry Group PLC.

“Global Food Preservatives Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.        

Market Segmentation:

1. By Type (Natural, Synthetic)
2. By Function (Anti-microbial, Anti-oxidant, Others)
3. By Application (Meat & Poultry Products, Bakery Products, Dairy Products, Beverages, and Others)
4. By Region (North America, Europe, Asia-Pacific, Rest of the World)
5. By Company (Cargill Inc., Kemin Industries Inc., ADM, Tate & Lyle, Koninklijke DSM N.V., BASF SE, Celanese Corporation, Corbion N.V., Galactic S.A., Kerry Group PLC)

Key questions answered in the study:

1. What are the current and future trends of the global food preservatives industry?
2. How the industry has been evolving in terms of type, drive type, and application?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global food preservatives industry?
5. What is the customer orientation, purchase behavior, and expectations from the global Food Preservatives suppliers across various region and countries?