Global Preservatives market recent developments, emerging technologies and industry forecast to 2027

Market Overview


Preservatives are substances or chemicals added to drugs, food products, beverages, paints, cosmetics, and wood, in order to prevent microbial growth and undesirable changes in terms of both, physical and chemical properties. Preservatives are of two kinds, namely natural and synthetic, both of which are used to enhance the quality of the end product. Natural preservatives such as antioxidants, vitamin E, rosemary extracts, and seed extracts are readily available in nature and often obtained from plant sources. Synthetic preservatives such as benzoic acid, sodium nitrite, sulfur dioxide, and potassium sorbate are chemical components processed and added to the end product. Growing health concerns among the global populace has caused an increasing demand for natural preservatives, which is boosting growth for the preservatives market. Growing food industry in emerging economies of India and China is further contributing to growth of the global preservatives market.

On the basis of function, the preservatives market is categorized into antimicrobial and antioxidants. Preservatives that are added to end products to arrest growth of microorganisms are called antimicrobial preservatives.

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Market Dynamics

Increasing demand for processed food due to busy lifestyle and increasing number of women in the workforce is projected to drive growth of the preservatives market over the forecast period (2016–2024). In addition, growing retail industry in emerging economies and popularity of processed food among the younger generation is also boosting demand for processed food, which in turn is projected to drive the market growth. According to a study conducted by Coherent Market Insights, the market for processed food is projected to reach US$ 88.2 billion by 2024. Preservatives are used in processed food to enhance its overall quality, taste, and shelf life.


Preservatives Market Taxonomy

On the basis of source, the global market is classified into:

Natural

Synthetic

On the basis of function, the global market is classified into:

Antimicrobials

Antioxidants

On the basis of end user, the global market is classified into:

Food and beverages

Cosmetics

Pharmaceuticals

Construction

Others

Key players operating in the global preservatives market include, Corbion N.V., Cargill Incorporated, Kerry Group, BASF SE, Chr. Hansen A/S, Archer Daniels Midland Company, E. I. du Pont de Nemours and Company, and Celanese Corporation.

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