The Food Preservatives Market is Expected to Witness a CAGR of 3.4% to Reach $3,134.8 Million by 2023
Bangalore, India, September 05, 2018: With its recently published study “Food Preservatives Market - Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023”, Infoholic Research forecasts the global market for food preservatives will continue to grow. The growing disposable income among developing countries, increasing awareness about health factors, and increased shelf life is driving the market growth. Furthermore, the increased demand for packaged food is positively impacting the market during the forecast period. The food preservatives market revenue will increase to $3,134.8 million by 2023, growing at a CAGR of 3.4%.
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Food preservatives are used as an additive in food & beverages, to prevent the product deterioration from enzymes, microorganisms, and exposure to oxygen. Increasing buying power, rising consumer awareness, regulatory reforms along with technological advancement is empowering the food preservative industry across the globe. The overall booming industry of packaged, ready to eat food & beverages has contributed majorly towards the food preservatives market. The customers are inclining towards usage of natural preservatives to increase the products shelf life and retain the products taste and texture.
“The food preservatives are not new to anyone. These are used in various day to day foods & beverages. Many options are available in the market since more than a century. The property to prevent deterioration of the food preservatives has rejuvenated the market in light with the increasing demand for ready to eat packaged foods across geographies. Further, Asia Pacific shall witness the highest growth in the coming years becoming the largest market.” – Vasundhara Singh, Research Associate, Infoholic Research.
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The key insights of the report are as follows:
- The global food preservatives have been categorized on the basis of types:
- The study has been analyzed on basis of application:
- Meat & Poultry
- Oils & Fats
- The report covers mentioned geographies:
- Asia Pacific
- North America
- Rest of the World