LONDON, Dec. 29, 2015 /PRNewswire/ -- The market for food preservatives is projected to reach a value of USD 2.8 billion by 2020, growing at a CAGR of 2.4% from 2015
The global food preservatives market is dominated by North America. The market in the Asia-Pacific region is projected to grow at a CAGR of 2.6% from 2015 to 2020. The developments in industries such as beverages, confectionery, snacks, processed food & beverages and the growing demand for convenience food products in the Asia-Pacific region drive the food preservatives market. The industrial applications and technology of food preservatives is changing rapidly in the Asia-Pacific countries, especially the subcontinent.
A key trend in the food preservatives market is the increasing use of natural preservatives derived from plants and animal sources. Earlier, synthetic preservatives were preferred as they were effective in blocking the growth of microorganisms in food. Recently, consumers have switched to foods that are preservative-free, natural, or organic food products. This is making the food industry to develop preservatives that are as good as natural ones. The shift to other methods such as irradiation, aseptic packaging, and sterilization and natural foods could have an impact on the usage of preservatives, forcing food manufacturers to look for substitutes for synthetic preservatives. An increasing interest in the use of ingredients such as enzymes and live cultures to preserve food products is observed.
With emerging economies, growing industrialization, increasing demand for processed foods, and a greater preference on the part of consumers for quality products, ingredient suppliers are becoming increasingly optimistic about the future.
The high demand for convenience foods has implications on the additive categories required to maintain freshness in products and also other artificial ingredients and fat replacers. The current boom in the functional food sector has led to the development of an entirely novel ingredients sector including probiotic and prebiotic components. The international food additives market, which was earlier dominated by major western countries, is now witnessing emergence of Asian markets and RoW.
To meet the demanding technological needs of today, the properties of preservatives are improved by a variety of methods. The methods are aimed at correcting some of the shortcomings. This, in turn, enhances the preservatives properties and satisfies the consumer demand.
The food preservatives market was dominated by Brenntag AG (Germany), DSM food specialties B.V. (The Netherlands), Kemin Industries (U.S.), Univar Inc. (USA), and Danisco A/S (U.S.) with respect to their developments in the past few years. These companies accounted for a cumulative share of about 56% in the market. Other players include companies such as Galactic S.A. (Belgium), Akzonobel N.V. (The Netherlands), Cargill Incorporated (U.S.), and Tate & Lyle PLC (U.K.).
The following customization options are available for the report:
- Product matrix, which gives a detailed comparison of the product portfolio of each company
- Further breakdown of the Rest of Europe food preservatives market into Sweden, Poland, Norway, and Greece
- Further breakdown of the Rest of Asia-Pacific food preservatives market into South Korea, North Korea, New Zealand, and Sri Lanka
- Global and regional analysis of spices, colors & flavors
- Detailed analysis and profiling of additional market players (Up to 5)Regulations
- Detailed analysis legislations of Europe and U.S pertaining to food preservatives
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