Bizizz Market Research has recently published a research report, “Food Preservatives Market By Type (Synthetic (Benzoates, Sorbates, Propionates and Others), Natural (Vinegar, Edible Oil, Natamycin, Rosemary Extracts and Others)), function (Anti-oxidant, Anti-microbial and Others), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Food Preservatives Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 3.5 Bn by 2027, witnessing a CAGR of 4 % during the forecast period. Key drivers of the market are increased demand for packaged food and development of new food manufacturing establishments.
The global food preservatives market has attained traction by various advantages offered by these products. Food preservative enhances the food shelf life period at normal temperature while having increased nutritional quality. The food a preservative reduces food from ripening, increase in acidity, and growth of microorganisms which are being highly demanded from a large consumer base. It improves shelf life leading to decrease food wastage being a vital benefit in use of preservatives. Moreover, the increased use of food preservatives could lead to allergen or carcinogen risks that would reduce its market growth.
The Food Preservatives market is anticipated to register a CAGR of over 4% during the forecast period.
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By Product, synthetic segment held a prominent share in Global Food Preservatives Market in 2018.
The synthetic segment is being increasingly utilized by huge consumer base. It is widely being applied by mainly for its easy formulation and cost-effectiveness offered by these preservatives. Synthetic preservatives constitute of benzoates, sorbates, and propionates among which sorbates are estimated to increase its market demand. The sorbates are being highly preferred by various applications including poultry, meat, and dairy products.
North America is Anticipated to Dominate the Global Food Preservatives Market during the Forecast Period.
The Asia Pacific region is accounted in leading food preservatives market demand. Its growth in this region is propelled by the increasing food & beverage industry, surging population, and considerable economic growth. India and China are the important contributors to the food preservatives market growth in the Asia Pacific region.
Global Food Preservatives market was moderately consolidated with key players accounting for significant share in 2018. The consumption of food preservatives is being high in the food and beverages industries that are innovative and are of natural plant based in origin is creating competency in the global market.
Prominent players operating in the Global Food Preservatives Market are: Cargill, Incorporated, Galactic, Akzo Nobel N.V., Danisco A/S, Kemin Industries, Inc., Tate & Lyle, Univar Inc., Brenntag Solutions Group, Inc., Koninklijke DSM N.V., and Hawkins Watts Limited, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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