The food preservatives market is expected to register a moderate CAGR of 4% during the forecast period (2020-2030). Gains remain primarily driven by increased demand for food products with longer shelf life. The rise of on-the-go culture along with sprung in the number of working population has been significantly contributing to the market growth.

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In the wake of COVID-19 pandemic and a series of its domino effect, panic buying and stockpiling tendencies has led to a spike in the sales of ready-to-eat food products during the 2nd quarter of 2020. High sales of these products have resulted in depletion of distributor level inventories. In addition, factory closures and supply chain disruptions have triggered challenges in raw material procurement and sales of food preservatives.

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The reopening of food production facilities is expected to significantly accelerate the demand for food preservatives. With consumer inclination towards food that provides comfort and familiarity, the food preservatives market is expected to experience gradual growth after the COVID-19 crisis.

Key Takeaways of Food Preservatives Market Study

• North America accounts for nearly 1/3rd of the global food preservatives market value, and is expected to grow 1.6X during the forecast period.
• Synthetic food preservatives continue to account for major share of the market revenue, while demand for natural food preservatives is expected to grow at a significant rate over the forecast period.
• Antimicrobial food preservatives remain highly preferred and their sales are expected to grow 1.7X during the forecast period.
• Bakery and processed food remain key application areas of food preservatives, while growing adoption in beverage is likely to result in increased market share.

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Key Segments Covered

• Product

  • Natural Food Preservatives
  • Synthetic Food Preservatives
    • Benzoic Acid
    • Sorbic Acid
    • Lactic Acid
    • Propionic Acid
    • Others

• Function

  • Antimicrobial Food Preservatives
  • Antioxidant Food Preservatives
  • Other Food Preservatives

• Application

  • Bakery and Processed Food Preservatives
  • Beverage Preservatives
  • Dairy and Milk Products Food Preservatives
  • Meat, Poultry and Seafood Preservatives
  • Food Preservatives for Other Applications

Crucial insights in the Food Preservatives Market research:

• Underlying macro- and microeconomic factors impacting the growth of the Food Preservatives Market Basic overview of the Food Preservatives Market including market definition, classification, and applications.
• Scrutinization of each Food Preservatives Market player based on mergers & acquisitions, R&D projects, and product launches.
• Adoption trend of Food Preservatives Market across various industries.
• Important regions and countries offering lucrative opportunities to Food Preservatives Market stakeholders.

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