According to the latest market research study by Technavio, the global food preservatives market is expected to grow at a CAGR of close to 3% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global food preservatives market regarding revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the application
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The top three revenue contributing application segments are discussed below:
Global food preservatives market for beverages: The increasing demand for alcoholic beverages, primarily wine and beer, globally is driving growth in the food preservatives market. Despite alcohol being a natural preservative, most wines have preservatives added to them to protect them from oxidation and bacterial spoilage.
“The major preservatives used in wine are sulfur dioxide, potassium metabisulfite, and ascorbic acid, such as white wine. Most beers contain preservatives and chemicals for enhancing the foam, converting starches, and preserving the final product. The commonly used preservatives in beer are calcium disodium EDTA and sodium benzoate. Hence, the growing demand for alcoholic beverages gives immense scope for a rise in demand for preservatives,” says Manjunath Reddy, a lead analyst at Technavio for research on food.
Global food preservatives market for bakery segment: The bakery segment is mainly driven by the increase in demand for bakery products like bread, cakes, pastries, and others. The rise in demand for bakery products is due to the increase in urbanization, which has resulted in the rise in demand for ready-to-eat products. However, bakery products are quickly exposed to spoilage risks such as mold spoilage, which is a serious and costly problem for bakeries. The commonly used preservatives in bread are calcium propanoate, sodium benzoate, potassium sorbate, and propionic acid. Rosemary preservative is also used for extending the shelf life of baked goods.
Global food preservatives market for canned and preserved food: The canned and preserved food segment is expected to experience steady growth during the forecast period. The growth is due to the demand for canned food products, primarily in emerging markets. The commonly used preservatives for canned foods include butylated hydroxyanisole (BHA) and butylated hydroxytoluene (BHT).
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The top vendors operating in the global food preservatives market are:
- AkzoNobe
- Celanese Corporation (Celanese)
- DuPont
- Koninklijke DSM (DSM)
- Univar
The other prominent vendors in the market include ABF Ingredients, Archer Daniels Midland, C.H. Guenther & Son, Edlong Dairy Technologies, Ingredion, Kerry Group, Kraft Food Ingredients, Novozymes, and Tate & Lyle.
A more detailed analysis is available in the Technavio report titled, ‘Global Food Preservatives Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Spices and Seasonings Market 2017-2021
- Global Fresh Food Market 2017-2021
- Global Gluten-Free Food Market 2017-2021
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