Increasing Health Concerns Among Consumers To Propel The Growth Of The Food Preservative Industry

(MENAFN- Straits Research) Introduction

Nowadays, preservatives have become a necessity in many food products to extend the longevity of packaged and processed food products and protect them from bacteria. Food preservatives are additives that come in chemical and natural forms; they are primarily adopted to inhibit the growth of microorganisms, thereby preventing the oxidation of fats which can cause rancidity. Increasing opportunities for the food industry in developing economies have motivated companies to increase the production of food preservatives which is supporting market growth. Moreover, the growing demand for processed & packaged food and changing lifestyles of individuals are expected to influence the food preservative market growth positively.

Market Segmentation

The global food preservative market is mainly segmented based on type, function, and application.

Based on type, the market is segmented into natural preservatives and synthetic preservatives. Synthetic preservatives are expected to hold a major market share owing to their widespread adoption across the globe and ease of formulation in food products. Nitrites, propionates, and other types of synthetic preservatives have gained popularity in applications where a higher pH is required such as in baked goods, snacks, and others. However, the demand for natural preservatives has increased in recent years, owing to specific regulations in food processing and the increasing health concerns among consumers.

On the basis of function, the market is segmented into antimicrobials and antioxidants. Antimicrobials are estimated to hold the largest share during the forecast period. Preservatives such as benzoates and sorbates are antimicrobial preservatives that are considered as safe in the U.S. by the Food and Drug Administration. Additionally, the increasing demand for processed food and the use of natural antioxidants as a substitute for synthetic antioxidants by food manufacturers are paving way for organic alternatives.

Based on application, the market is segmented into meat and poultry products, beverages, dairy products, snacks, and others. Among these, meat and poultry products are estimated to hold a major market share, which in turn is expected to drive the growth of the food preservative market .

Regional Overview

The global food preservative market is broadly analysed across North America, Europe, Asia Pacific, and Latin America and the Middle East and Africa (LAMEA).

Asia-Pacific is expected to emerge as the fastest-growing region, owing to the rising disposable income in the region, which has led to the adoption of packaged and frozen food products. Growing foreign investment in India's food processing sector has boosted food and beverage offerings by multinational as well as domestic companies. Additionally, the tendency of using packaged food during special occasions and celebrations is also fuelling market growth.

The Europe food preservative market is expected to grow at a fast rate, owing to rising health concerns and certain regulations boosting the adoption of natural preservatives. Promotion of clean label food products free from harmful synthetic additives has also boosted the demand for natural preservative during the forecast period.

North America is expected to dominate the market, owing to the presence of major food and beverage companies with increased consumption of packed foods. Additionally, the increased consumption of processed food and ready-to-eat products is attracting customers in Canada and the U.S.

The LAMEA region is expected to witness considerable growth in the food preservative market during the forecast period, 2016–2026. This is attributed to westernization and changing lifestyle, owing to the increasing consumption of processed food in these regions.