Preservatives Market: Anti-Microbial Function Of Preservatives Accounted For The Maximum Volume Share

 Preservatives Industry Overview

The global preservatives market size is expected to reach USD 8.12 billion by 2028, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.1% over the forecast period. The increased product demand has positively contributed to the market growth. The synthetic type of food preservatives dominated the global market owing to their cost competitiveness. However, natural preservatives are replacing synthetic ones in developed economies owing to the high customer awareness regarding the adverse effects of chemicals, thus positively impacting the market growth. Food manufacturers utilize antioxidants for the neutralization of free radicals and to balance the adverse effects of additives in processed foods.

Thus, with the increasing consumption of processed foods, such as meats and snacks, along with various types of beverages, the antioxidants market is expected to witness significant growth during the forecast period. Increasing incidences of animal feed damages owing to fungal and bacterial contamination are expected to drive the demand for feed preservatives globally. In addition, according to the International Feed Industry Federation, feed prepared without the addition of preservatives has shown harmful effects on all classes of animals owing to the production of mycotoxins. This has benefitted the demand for preservatives for application in the feed industry.

The regional governments in countries of Asia Pacific, including China and India, are providing incentives, flexible Foreign Direct Investment (FDI) policy measures, and budgetary support to boost the growth of the food processing industry. As such, the market in the Asia Pacific region for food applications is expected to progress at a considerable growth rate from 2020 to 2028. North America led the global market in 2020 due to the strong foothold of key players operating in the food, pharmaceutical, cosmetics, and feed industries. In addition, high growth in the processed meat industry and a rise in the sales of bakery products, such as cakes and pastries, are expected to boost the market growth over the forecast period.

Preservatives Market Segmentation

Grand View Research has segmented the global preservatives market on the basis of type, function, application, and region:

Based on the Type, the market is segmented into Natural and Synthetic.

• The synthetic type segment dominated the market in 2020 with a revenue share of 84.0%. The effectiveness of synthetic preservatives in inhibiting the growth of mold and yeast coupled with its cost-effectiveness is the primary factor contributing to the segment growth. The use of propionates is expected to increase globally as they are increasingly replacing several toxic synthetic preservatives.
• Food manufacturers are increasingly using natural bioactive to obtain functional foods, which is becoming a rapidly growing market worldwide. Vegetable oilis the fastest-growing segment in the commercial segment of functional foods as the natural alternatives are seen as potential health-promoting compounds, thereby benefitting market growth.

 

Based on the Function, the market is segmented into Antimicrobial, Antioxidant, and Others.

• Antimicrobial function emerged as the dominant segment with a revenue share of more than 78% in 2020. As disease outbreak and adulteration cases are rising globally, foodborne diseases have become a major concern, which has increased concern about food safety, leading to the high market share of antimicrobial preservatives. Antimicrobial properties against pathogens and microbes can be found in herbal plants and edible oils.
• The consumption of processed foods, such as meats and snacks, along with various types of beverages has increased to larger volumes, which is expected to bolster the demand for antioxidants. In addition, manufacturers are utilizing antioxidants for the neutralization of free radicals in the body, which is further expected to contribute to the segment growth during the forecast period.

 

Based on the Application, the market is segmented into Food, and Feed.

• The food application segment accounted for the maximum revenue share of more than 48% in 2020. The growth of the processed meat industries in Asia Pacific and North America is largely responsible for the demand for food preservatives. In addition, the high demand for processed foods, such as bakery, dairy, and beverages, contributed to the segment growth in 2020.
• Preservatives amplify the shelf life of drugs and medicines by lowering or decreasing the oxidation level of active ingredients in them by reducing microbial production. Thus, increasing demand for pharmaceutical products globally is expected to bolster the demand for preservatives that do not affect the therapeutic action of active ingredients. The global cosmetics industry has experienced significant growth in the past few years owing to increasing consumer consciousness about their appearance.

 

Key Companies & Market Share Insights

The market has been characterized by the presence of a large number of manufacturers of synthetic food preservatives. The increasing demand for natural preservatives has fueledthecompetition with new players entering the market. Public companies in the industry are proactive in initiating strategies to push the adoption of their products in the global market. Manufacturers compete on the basis of innovations and new launches with different formulations to improve the shelf life of various products without compromising their texture and flavor. The demand for natural preservatives is gradually increasing worldwide owing to rising health consciousness among consumers and willingness to pay more for premium products.

Thus, manufacturers, such as DSM N.V. and BASF SE, are capitalizing on their widespread distribution networks to expand their product range of natural preservatives. New entrants, such as Kemin Industries, Inc. and Galactic S.A., compete in the market by introducing new products that are formulated from various natural sources, such as vinegar. In addition, these players are expanding their geographical footprint by opening new sales offices and strengthening their distribution networks. Some prominent players in the global preservatives market include:

• Zhejiang Bossen Technology Co., Ltd.
• APAC Chemical Corp.
• Nantong Acetic Acid Chemical Co., Ltd.
• Jinneng Science and Technology Company Ltd.
• Guangzhou ZIO Chemical Co., Ltd.
• Nanjing Jiayi Sunway Chemical Co., Ltd.
• CFS Wanglong Flavors Co., Ltd.
• Tianjin Haitong Chemical Industrial Co., Ltd.
• Wanglong Tech Co., Ltd.
• Celanese Corp.
• FBC Industries
• Veckridge Chemical
• Shandong Hongda Group
• REIPU (QINGDAO) International Trade Co., Ltd.
• Jiangsu Mupro IFT Corp.
• Daicel Corp.

 

Order a free sample PDF of the Preservatives Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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