Food Preservatives Market Analysis

Food Preservatives Market Analysis

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In 2022, The synthetic food preservatives market held a major valuation of around USD 1.2 billion due to their efficiency, stability, and relatively lower cost. A significant factor propelling their usage is the efficacy of preservatives in inhibiting microbial growth and inhibiting food spoilage. However, food manufacturers, particularly those producing large volumes of processed & packaged food products, find synthetic preservatives appealing owing to the low cost. Synthetic preservatives also offer consistent performance in various food products & processing conditions, thereby boosting segment growth during 2023-2032.

The antimicrobial agents segment held a dominant industry share of around 50% in 2022 and is expected to grow at a lucrative pace by 2032. Antimicrobial agents play a critical role in preventing spoilage and reducing foodborne illnesses. Consumer inclination for minimally processed & additive-free foods will fuel the demand for natural antimicrobial agents, in turn, expediting the industry statistics over the forecast period.
 

The bakery & confectionery sector held a major share of food preservatives market in 2022 and will observe 5.6% growth rate between 2023 and 2032. Food preservatives are important as they guarantee food safety, increase shelf life, meet regulatory requirements, and address consumer preferences. Advancements in research & development to improve product efficiency, offer a wide range of natural preservatives, and address emerging microbial challenges in the food sector will demonstrate the business development.
 

The U.S. dominated the North American industry revenue of USD 1.8 billion in 2022 and is projected to expand at a rapid pace through 2032. A high demand for convenience foods including ready-to-eat meals, snacks, and processed foods has been witnessed in North America during the recent years. However, foodborne illnesses & product recalls due to microbial contamination have raised the importance of food safety & quality, thus creating a demand for food preservatives. Growth in online food retailing and the need to maintain product quality & safety in the supply chain are also propelling the need for food preservatives, positively augmenting food preservative business progression in North America.