Transparency
Market Research has observed Celanese Corporation, Koninklijke DSM
N.V., E. I. du Pont de Nemours and Company, Kerry Group Plc, and
GalacticSA as the leading players in the global processed food and
beverage preservatives market. These players are have been persistent
in delivering quality products that match international standards.
The overall market will be moderately competitive between 2016 and
2024 due to the presence of several small and large players. In the
coming years, companies will have to ensure consistent product
launches, strategic mergers and acquisitions, and meaningful
acquisitions to gain a competitive advantage.
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exclusive Global strategic Business report:
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According
to the research report, the global processed food and beverage
preservative market is expected to be worth US$2.5 bn by the end of
2024 as compared to US$1.7 bn in 2015. Analysts predict that market
will rise at a CAGR of 4.9% between 2016 and 2024.
Synthetic
Preservatives to Show Progress despite Tilt toward Natural Variants
In
terms of geography, the global processed food and beverage
preservative market is segmented into North America, Asia Pacific,
Europe, the Middle East and Africa, and Latin America. Of these,
North America is expected to dominate the global market due to a high
demand for processed food items. During the forecast years of 2016
and 2024, the North America processed food and beverage preservative
market is estimated to surge at a CAGR of 4.8% in terms of revenue.
Amongst
the two types of products in the global market, the synthetic
preservatives are projected to hold a significant market share due to
their excellent properties of increasing the shelf life of food items
and their affordability. Analysts anticipate that though the
synthetic preservatives segment will witness a slight slump, it will
be worth US$947.2 mn by the end of the forecast period. The natural
preservatives are expected to exhibit a good growth rate as consumers
are opting for natural food products over processed ones.
Lack
of Time to Prepare Elaborate Meals Serves Global Market Profit on a
Platter
Changing
lifestyles and rapid urbanization are the two primary growth drivers
in the global
processed food and beverage preservatives market. Lack of time to
cook elaborate, nutritious meals due to hectic schedules is prompting
several consumers to buy processed food items and beverages. Frozen
food items, ready-to-eat products, and canned beverages are few of
the popularly sold items that have increased the uptake of
preservatives used for making them. A huge base of young population
that with a considerable purchasing power is also fuelling the uptake
of products that use preservatives such as energy drinks, soft
drinks, and juices.
Meanwhile,
the continuation of age-old practices of storing food items such as
pickles has also increased the demand for salt, vinegar, and sugar
amongst others. Furthermore, several consumers are opting for
preserving home-cooked food items for a longer duration due to lack
of time to prepare fresh food on daily basis. The ongoing efforts by
fast food companies to prolong the shelf life of their products due
to the possibility of food spoilage is also expected to augment the
demand for synthetic preservatives in the coming few years.
Negative
Impact of Preservatives on Health Deters Many
The
headstrong market drivers aiding the growth of the global processed
food and beverage preservatives market does face some tough
challenges. The toughest challenge for the global market is the
changing perception of consumers about consuming preserved food items
and beverages as they are known to be unhealthy. Continuous
consumption of preserved food items is known to cause conditions such
as high blood pressure, diabetes, and high cholesterol. Owing to
these reasons, the demand for preserved food and beverages is
projected to experience a drop in the coming few years.
This review is based on Transparency Market Research’s report, titled “Processed Food & Beverage Preservatives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”
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