PORTLAND, Oregon, Sept. 11, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Natural Food Preservatives Market by Product Type (Salt, Sugar, Oil, Honey, Citric Acid, Vinegar, and Others), Function (Antimicrobial, Antioxidants, and Others), and Application (Sea Food, Meat & Poultry, Bakery Products, Dairy Products, Snacks, Beverages, Fruits & Vegetables, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global natural food preservatives industry generated $796.1 million in 2018, and is expected to reach $1.06 billion by 2026, portraying a CAGR of 3.7% from 2019 to 2026.
Chief reasons for market fluctuations
Changes in consumer preferences regarding food & beverages and rise in demand for convenience products leading to surge in the demand for foods with longer shelf life drive the growth in the global natural food preservatives market. However, surge in demand for organic food products that contain no preservatives hinders the market growth. On the other hand, rise in ready-to-eat food product consumption creates enormous opportunities in the industry.
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Salt segment to maintain lead position during the forecast period
Based on type, the salt segment contributed for the largest market share in the global natural food preservatives market in 2018, contributing for nearly one-fourth of the total share in terms of revenue, and is estimated to maintain its lead position during the forecast period. This is attributed to its ability to preserve food by dehydration and prevention of bacterial growth, kill microbes with osmolarity, and surge in household and commercial applications. On the other hand, the citric acid segment is expected to register the fastest rate with a CAGR of 4.8% from 2019 to 2026, owing to increase in its usage to enhance shelf life.
Antimicrobial segment to present lucrative opportunities
Based on function, the antimicrobial segment held nearly three-fifths of the total share of the global natural food preservatives market in 2018, and will continue to dominate during the forecast period. Moreover, this segment is estimated to register the fastest CAGR of 4.1% from 2019 to 2026. This is due to increased consumption of packaged food as they contain antimicrobial preservative to enhance shelf life. The research also analyzes antioxidants and others.
North America to continue its dominance throughout the forecast period
North America held the dominant share, accounting for nearly one-third of the total market share of the global natural food preservatives market in 2018, and will continue its dominance throughout the forecast period. This is due to rise in demand for natural food products and surge in incidence of diseases caused by synthetic ingredients in food that led to adoption for natural ingredients. On the other hand, Europe is expected to grow at the highest growth rate, with a CAGR of 4.1% from 2019 to 2026, owing to changes in lifestyle preferences and rise in adoption of clean label ingredients in food products.
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Leading market players
- Koninklijke DSM N.V.
- Cargill, Inc.
- Kemin Industries, Inc.
- Archer Daniels Midland Company
- Tate & Lyle PLC.
- BASF SE
- Corbion NV
- Galactic SA
- Biosecur Lab (Foodguard)
- ITA 3 S.r.l.
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SOURCE Allied Market Research