The global food preservatives market is estimated to have a value of USD 2,965.62 Mn in the year 2023 and is expected to have a steep growth to reach USD 5,725.70 Mn with a CAGR (compounded annual growth rate) of 6.8%.
With changing lifestyles and dynamic routines, consumers prefer convenient food like ready to eat or ready to cook which has increased shelf life. Since preservatives are extensively used in most food products to increase shelf life, it is expected to have robust growth.
Although synthetic is considered more efficient for preservation, consumers are following the trend for natural products, which has boosted the growth of natural food preservatives like rosemary extract that have antioxidant properties. The trend for consuming organic preservative and chemical-free food can cause an obstacle to the growth of the segment. Hence industries are focusing more on natural preservatives to align with the customer’s interest and maintain demand for the preservatives. Increasing health awareness and growing demand for processed food is likely to boost the global food preservatives market.
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Consumers are more interested in where their food comes from and how it is prepared than ever before. With the rise of social media, people are taking to the internet to share photos of their meals and recipes. This has led to a resurgence in home cooking and an increased demand for fresh, unprocessed foods.
Food manufacturers are responding to this trend by launching new products that do not require preservatives. These products include refrigerated doughs, sauces, and dressings. They are made with simple ingredients that can be used to create quick and easy meals.
Many of these products are also organic and gluten-free. This makes them popular with health-conscious consumers who are looking for ways to reduce their exposure to artificial chemicals and additives.
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The global market for Food Preservatives is witnessed H1 2021 growth at magnitude of 6.7%. However, this growth is not evenly spread across all regions, with the developing markets recording higher growth rates of 6.8% (H1 2022 Expected). Thus, leaving the gap of +74.8 BPS points between expected and projected growth during H1 2022.
The use of food preservatives has been a trend in the food industry for many years. Preservatives are used to maintain the quality and freshness of food products. The most common types of preservatives are salt, sugar, vinegar, and oil. These preservatives are effective in preventing the growth of bacteria and mold. They also help to extend the shelf life of food products.
Preservatives are not only used in food products, but also in cosmetics and pharmaceuticals. In fact, preservatives are one of the most commonly used ingredients in personal care products. There are a variety of different types of preservatives that can be used, including parabens, sulfates, and phthalates.
While there is some controversy over the use of preservatives, they remain an important ingredient in many consumer products.
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