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Food Preservatives Market Trends

Report ID: GMI6101
Published Date: Jun 2023
Report Format: PDF

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Food Preservatives Market Trends

Synthetic preservatives are gradually being replaced by natural preservatives, which are derived from plant extracts, herbs, spices, and essential oils. Owing to their rising popularity, manufacturers are focusing on developing effective natural preservatives that meet consumer expectations. Moreover, advancements in preservation technologies, such as High-pressure Processing (HPP), Pulsed Electric Field (PEF), and cold plasma, are positively impacting the market development. In addition, with the diversification of the food industry and the demand for unique product formulations, there is an increasing focus on customized preservatives, which will foster the industry progression.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of food preservatives was worth USD 3.3 billion in 2023 and is projected to witness 4.5% CAGR during 2024 to 2032, driven by the growing consumer awareness about food safety and the importance of reducing food wastage worldwide.

Synthetic food preservatives industry generated USD 1.2 billion in revenue in 2022 and is set to witness huge demand through 2032 owing to their efficiency, stability, and relatively lower cost.

U.S. food preservative industry amassed USD 1.8 billion in revenue in 2022 and is poised to expand at a rapid pace from 2023 – 2032 attributed to the rising consumer demand for convenience foods, including ready-to-eat meals and snacks.

Kerry Group Plc, Cargill Incorporated, Corbion N.V, DuPont de Nemours, Inc., Archer Daniels Midland Company, BASF SE, Kemin Industries, Inc., Koninklijke DSM, and Galactic S.A are some of the leading firms in the industry’s competitive landscape.