Global Food Preservative Ingredients Market 2024

January 2023 | 86 pages | ID: G99AA084C684EN
Gen Consulting Company

Abstracts

The use of food preservatives to extend the shelf-life of processed food products is widespread in the current market. A notable trend in this industry is the growing utilization of natural preservatives derived from plant and animal sources. While synthetic preservatives were previously favored for their effectiveness, consumer preferences have shifted towards preservative-free, natural, and organic food products. This shift has prompted the food industry to develop preservatives that match the quality of natural alternatives. Consequently, there is a mounting interest in the application of ingredients such as enzymes and live cultures to preserve food products, leading to the development of the natural preservatives market.

By type, the Acidulants segment held the largest market share in 2023, with an estimated value of USD 3.0 billion. It is anticipated to reach USD 4.4 billion by 2029, demonstrating the highest compound annual growth rate (CAGR) of 5.7% during the forecast period. Major acidulants considered in this market include citric acid, phosphoric acid, lactic acid, ascorbic acid, and others. Food-grade phosphoric acid, known for its neutral profile, strength, and flavor retention, is particularly desirable for low-pH foods and beverages. Furthermore, high beverage consumption has been a key driver of this market during the forecast period.

In terms of application, the confectionery segment held the second largest market share in 2023, valued at USD 1.4 billion and expected to reach USD 2.0 billion by 2029, with a CAGR of 5.0%. Natural preservatives, particularly plant extracts, have been used for centuries in baking, and the demand for natural products continues to grow as consumers seek to avoid artificial additives and preservatives. The ready meals segment is projected to experience the highest CAGR during the forecast period (2024-2029).

Regionally, the North America Food Preservative Ingredients segment dominated the market in 2023, with an estimated value of USD 2.7 billion. It is anticipated to reach USD 3.7 billion by 2029, registering a CAGR of 4.8% during the forecast period. Antioxidants and antimicrobials are used in preserving snacks, confectioneries, bakery products, dairy, meat, and poultry products, and the demand for these products in the United States is on the rise due to factors such as changes in customer lifestyles, increased import and export activities, a growing preference for fresh products, and an increasing willingness among consumers to pay premium prices. The Middle East & Africa segment is projected to witness the highest growth during the forecast period from 2024 to 2029.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the product type, end user, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

The global baby bottle market has been extensively analyzed by categorizing it according to various sub-segments in order to provide accurate forecasts of industry size and assess trends within specific areas.

The global market for food preservative ingredients can be segmented by product type: antioxidants, antimicrobials, acidulant, others. Acidulant was the largest revenue contributor to the global food preservative ingredients market, representing 40.5% of the market in 2023. During the forecast period, the acidulant segment is projected to witness the highest growth rate.

Food preservative ingredients market is further segmented by end user: confectionery, meat products, ready meals, sweet and savory snacks, sauces and dressings, edible oils, others. Confectionery was the highest contributor to the global food preservative ingredients market, with 19.7% share in 2023. Going forward, the sweet and savory snacks segment is projected to witness the highest CAGR during the forecast period.

Based on region, the food preservative ingredients market is segmented into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. North America was the highest contributor to the global food preservative ingredients market, with 36.7% share in 2023. Going forward, MEA (Middle East and Africa) is projected to witness the highest CAGR during the forecast period.

The report has also analyzed the competitive landscape of the global food preservative ingredients market with some of the key players being BASF SE, Corbion NV, Eastman Chemical Company, Geneham Pharmaceutical Co., Ltd., Givaudan SA, Hawkins Watt Limited, International Flavours & Fragrances Inc., Kemin Industries Inc., Mane Kancor Ingredients Pvt. Ltd., Synthite Industries Ltd., Tate & Lyle plc, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Why Choose This Report

Gain a reliable outlook of the global food preservative ingredients market forecasts from 2024 to 2030 across scenarios.

Identify growth segments for investment.

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The market estimate for ease of analysis across scenarios in Excel format.

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Market Segments Covered in Global Food Preservative Ingredients Industry Analysis:

i.) Product type

• Antioxidants
• Antimicrobials
• Acidulant
• Others

ii.) End user

• Confectionery
• Meat products
• Ready meals
• Sweet and savory snacks
• Sauces and dressings
• Edible oils
• Others

iii.) Region

• North America
• Europe
• Asia-Pacific
• MEA (Middle East and Africa)
• Latin America

Contents

PART 1. INTRODUCTION

1.1 Description
1.2 Objectives of The Study
1.3 Market Segment
1.4 Years Considered for The Report
1.5 Currency
1.6 Key Target Audience

PART 2. RESEARCH METHODOLOGY

2.1 Primary Research
2.2 Secondary Research

PART 3. EXECUTIVE SUMMARY

PART 4. MARKET OVERVIEW

4.1 Introduction
4.2 Drivers
4.3 Restraints

PART 5. GLOBAL FOOD PRESERVATIVE INGREDIENTS MARKET BY PRODUCT TYPE

5.1 Antioxidants
5.2 Antimicrobials
5.3 Acidulant
5.4 Others

PART 6. GLOBAL FOOD PRESERVATIVE INGREDIENTS MARKET BY END USER

6.1 Confectionery
6.2 Meat products
6.3 Ready meals
6.4 Sweet and savory snacks
6.5 Sauces and dressings
6.6 Edible oils
6.7 Others

PART 7. GLOBAL FOOD PRESERVATIVE INGREDIENTS MARKET BY REGION

7.1 North America
7.2 Europe
7.3 Asia-Pacific
7.4 MEA (Middle East and Africa)
7.5 Latin America

PART 8. COMPANY PROFILES

8.1 BASF SE
8.2 Corbion NV
8.3 Eastman Chemical Company
8.4 Geneham Pharmaceutical Co., Ltd.
8.5 Givaudan SA
8.6 Hawkins Watt Limited
8.7 International Flavours & Fragrances Inc.
8.8 Kemin Industries Inc.
8.9 Mane Kancor Ingredients Pvt. Ltd.
8.10 Synthite Industries Ltd.
8.11 Tate & Lyle plc
DISCLAIMER