Global
Processed Food and Beverage Preservatives Market: Overview
Processed
food and beverage preservatives are added to food and beverages to
prevent the growth of microorganisms. These preservatives are either
natural or synthetic and are known to increase the shelf life of
products without impacting the taste, texture, form, and nutritional
value of the product. Additionally, they also prevent the product
from becoming toxic, thus making them edible for a longer period of
time. Owing to these reasons, the research report anticipates that
the global processed food and beverage preservatives market is
estimated to witness a steady growth. According to the research
report, the global processed
food and beverage preservative market is expected to reach a
valuation of US$2.5 bn by the end of 2024 as compared to US$1.7 bn in
2015. The global market is estimated to progress at a CAGR of 4.9%
between 2016 and 2024.
Urbanization
Offers Lucrative Opportunities to Global Market
The
rapid urbanization and the rise of the working class population are
the primary growth drivers for the global market. These reasons have
been pivotal to the lack of time available for the preparation of
elaborate meals. Thus, several consumers are opting for frozen foods
and beverages. The global market is also being driven by the impact
of global warming, which has caused climatic changes triggering
frequent spoilage of food items. With rising temperatures, it has
become crucial to preserve food in the right way to prevent it from
turning toxic. Analysts anticipate that the demand for processed food
and beverage preservatives is expected will also rise as several
consumers are opting for storing food for the sake of convenience.
Out
of the natural products used for preserving food and beverages, salt
held the lion’s share in the global market, which was closely
followed by sugar and vinegar. The research report estimates that
rosemary extract segment will be the fastest growing segment in the
coming few years. Amongst the synthetic preservatives, benzoate is
leading the global market. Sorbate closely follows the lead due to
its excessive usage in yogurt, wine, cheese, dried meats, apple
cider, and baked goods.
North
America to Continue to Grow over Forecast Period
On
the basis of geography, the global market is segmented into Europe,
Asia Pacific, the Middle East and Africa, North America, and Latin
America. Presently, North America has a leading share in the global
market due to an exceptionally high demand for packaged foods and
beverages by consumers across the region. Several consumers are
opting for packaged food items due to their sheer convenience.
Analysts anticipate that Asia Pacific will also be an emerging market
due to rapid urbanization and changing lifestyle of consumers.
Furthermore, the tropical climate of Asia Pacific, which makes food
and beverages susceptible to spoilage, will also augment the demand
for processed food and beverage preservatives in the region in the
coming few years.
Some
of the key players in the global processed food and beverage
preservatives market are Celanese Corporation, Koninklijke DSM N.V.,
E. I. du Pont de Nemours and Company, Kerry Group Plc, Shanghai
Ruidian Trading Development Co., Galactic SA, Hawkins Watts Limited,
Cargill, Incorporated, Innophos Holdings Inc, Kemin Industries, Inc.,
Akzo Nobel N.V., Albemarle Corporation, Naturalin Bio-Resources Co.,
Ltd, Shandong Kunda Biotechnology Co., Ltd., Ningbo Pangs Chem Int'l
Co., Ltd., Ecochem Group Co., Ltd., and Zhejiang Silver Elephant
Bioengineering Co., Ltd.
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