The
competitive landscape of global processed food & beverage
preservatives market is prognosticated to be fragmented due to
presence of various small and medium players. Koninklijke DSM N.V.,
Celanese Corporation, E. I. du Pont de Nemours and Company, Shanghai
Ruidian Trading Development Co., Kerry Group Plc, Galactic SA,
Cargill, Hawkins Watts Limited, Innophos Holdings Inc, Akzo Nobel
N.V., Kemin Industries, Inc., Albemarle Corporation, Shandong Kunda
Biotechnology Co., Ltd., Naturalin Bio-Resources Co., Ltd, Ningbo
Pangs Chem Int'l Co., Ltd., Zhejiang Silver Elephant Bioengineering
Co., Ltd, and Ecochem Group Co., Ltd. are some of the key players
dominating the global processed food & beverage preservatives
market. These firms are working on delivering consistently high
quality products, in order to maintain the international standards
and to improve their overall market shares in coming years. The firms
are also considering the merger and acquisition activities in order
to gain an edge over their competitors in the market.
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According
to Transparency Market Research, the global processed food &
beverage preservatives market is estimated to grow at a CAGR of 4.9%
within the forecast period from 2016 to 2024. The market was valued
around US$1.7 bn in 2015, which is anticipated to reach around US$2.5
bn by the end of year 2024. On the basis of product type, the
synthetic segment is likely to lead the global market, with
significant market share and valuation of worth US$947.2 mn by the
end of 2024. Geographically, North America region is estimated to
dominate the other regions as far as revenue is concerned, with a
CAGR of 4.8%.
In
past few years the change in eating habits have propelled the
adoption of processed foods and beverages by the consumers. Along
with this, the rise in urbanization is a major factor fueling the
demand for global processed
food & beverage preservatives, globally. Due to hectic
daily routine, and lack of spare time, people are finding it
difficult to cook nutritious and elaborated food at home. This
encourages various consumers to go for processed foods and beverages.
Many people nowadays are purchasing ready-to-eat foods, canned
beverages, and frozen food items, which has surged the consumption of
synthetic preservatives, strengthening the processed food and
beverage preservatives market.
Rise
in number of people are choosing natural ways for preserving
home-cooked food items, which can then be used for longer duration.
The trend is mainly driven by the need to save some preparation time
daily. Moreover, the various food manufacturers are working in order
to come up with increased shelf life of their products. This has led
them to use a variety of inorganic additives.
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