Future
Market Insights (FMI) delivers key insights on the global food
preservatives market in its latest report titled “Food
Preservatives Market: Global Industry Analysis and Opportunity
Assessment, 2014 - 2020”. The global
food preservatives market
is anticipated to expand at a CAGR of 3.5% in terms of value during
the forecast period due to various factors, regarding which FMI
offers fundamental insights in detail in this report.
On
the basis of application, the market has been categorized into
bakery, beverages, dairy and milk products, meat and poultry and sea
food, and others. The meat, poultry and sea food segment has
dominated the food preservatives market over the years, since these
food products are an integral part of human food habits.
Manufacturers use food preservatives in these products to: extend
shelf life, meet the continuous demand and increase production of
processed food. The meat, poultry and sea food segment is expected to
dominate the food preservatives market in the coming years, though
the market is expected to fall from share of 27.9% in 2013 to 27.3%
in 2020 in value terms. The food preservatives market used in other
products, such as oil and fat, jams and syrup among others, is
expected to expand at a CAGR of 4.1% in value terms from 2014 to
2020.
Growth
of the global food preservatives market is majorly driven by
increasing demand for food products with extended shelf life. In
addition, widening distribution channels and increasing demand for
natural and organic food are some of the other factors contributing
towards the market growth. High demand for processed foods and
increasing awareness about food safety is driving the global food
preservatives market currently. Synthetic is presently the fastest
growing segment of the global food preservatives market. Healthy
eating trends and preferences for quality food are fuelling the
demand for food preservatives globally.
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This
report covers drivers, restraints and opportunities that are driving
each segment and respective sub-segments of the market, and offers
analysis and insights about the potential of the food preservatives
market in specific regions. By region, the global food preservatives
market was dominated by North America, which held the largest value
share of 36.5% of the food preservatives market in 2013, and the
region is expected to maintain its dominance in the coming years as
well. Currently, manufacturers use preservatives during food
processing to prevent spoilage during transportation and to increase
the shelf life of foods. The market is witnessing growth due to
changing eating patterns and busy lifestyles. Asia Pacific is
currently the second largest market for food preservatives after
North America. Food preservatives are used for various purposes,
including chelating agents and anti-spoilage. In addition, food
preservatives are also used as shelf life enhancers, antioxidants and
antimicrobials, and enzyme attackers. Increasing demand and trade of
food products worldwide is fuelling the Asia Pacific food
preservatives market currently. Increasing demand for bakery
products, beverages, meat and dairy products is creating a positive
impact on the food preservatives market. Changing lifestyles and food
patterns are also driving the Asian food preservatives market
currently.
Key
competitors covered in the report are BASF SE, Cargill Incorporated,
Celanese Corporation, Chr. Hansen A/S, Corbion N.V., DuPont, JEY’S
F.I. Inc, Kerry Group, Koninklijke DSM N.V and The Archer Daniels
Midland Company. These companies are focusing on developing new
products and improving the quality of their existing products through
research and development activities. The manufacturers are also
focusing on geographical expansion in order to gain a competitive
advantage.
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