Food Preservatives Market - The Revenue is expected to rise Further to $3,134.8 million
The Food Preservatives Market is expected to grow at a CAGR of 3.4% during the forecast period 2017–2023 owing to demand from emerging economies, increasing awareness regarding health and increasing consumption of packaged foods. The market is fragmented and has many players. The market is dominated by some major key vendors. The market has been analyzed on the basis of type – Natural and Synthetic. The report has also been categorized on the basis of application – Meat & Poultry, Beverage, Bakery, Confectionery, Snacks, Dairy, Oils & Fats and Others.
Increasing consumption of packaged foods have led to more usage of food preservatives. The food preservatives have the property to prevent product deterioration from enzymes, microorganisms, and exposure to oxygen. Synthetic Preservative is one of the leading food preservatives in the market and is also expected to grow at a CAGR of 3.2%.
Meat and poultry have majorly contributed towards the food preservatives market with the highest market share. Food preservatives are heavily consumed by this industry in various beverages, confectionery items, chocolate, candies, chewing gums, ice creams and others. As, the market for these products rises it perpetually helps the food preservative market to grow along. The market for convenient packaged food is growing and thus, helping the food preservative market. As, food preservatives prevent the spoilage process and also, improves the shelf life of the products.
Another major factor helping towards the growth of food preservatives is increasing demand for ready to eat products. The lifestyle changes have led the consumers towards consumption of packaged foods and beverages. The convenient packaged foods or ready to eat foods have long shelf life and that’s the major reason for its high consumption. The rise in the demand for them, will propel the food preservatives market.
The study conducted by Infoholic Research provides drivers, restraints, opportunities with current and emerging market trends. Further, it covers an in-depth analysis of each product and end-user application along with forecasting and trends analysis in the global food preservatives market. Major companies covered in the study include big multinational players such Cargill, Koninklijke DSM N.V., Dow Chemicals, Danisco, and Galactic, which are offering different food preservative products.
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– Vasundhara Singh,