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Natural Food Preservatives Market Overview
Natural Food Preservatives Market size is estimated to reach $1.4 billion by 2027, growing at a CAGR of 3.4% during the forecast period 2022-2027. Food preservatives can be demarcated as food additive substances that are used to increase the overall life of food by avoiding decomposition, the development of microorganisms like yeast, and decelerating the oxidation process. Food additives are directly accompanied by a person’s health because without them several contaminations such as bacteria can affect health and may lead to foodborne illnesses which are also known as food poisoning. Therefore, as the snacks and packaged food market is evolving the demand for food preservatives is rising precipitously. Lactic acid and derivatives of organic compounds like Isothiazolinone are common preservatives as they hold antimicrobial properties. Growing e-commerce platforms ascending the demand for convenience foods such as snacks, and ultimately fueling the preservatives market are factors set to drive the growth of the Natural Food Preservatives Industry for the period 2022-2027.
Natural Food Preservatives Market Segment Analysis-By Type
The Natural Food Preservatives Market based on the Type can be further segmented into Natural and Synthetic. The Synthetic segment held the largest share in 2021, and the growth is owing effectiveness of chemicals in averting the degeneration of packaged foods and increasing the overall life of food by slowing down the oxidation, color change, and preventing texture, lowering cost as compared to using to natural preservatives.
However, the natural segment is estimated to be the fastest-growing with a CAGR of 3.9% over the forecast period 2022-2027. This growth is owing to proliferating alertness among people regarding innumerable health complications of chemical preservatives, and health benefits associated with natural preservatives. For example, castor oil, a type of natural food preservative is a stimulant laxative, thereby helping the overall bowel movements and constipation. Moreover, in the US, about 16 out of 100 adults have constipation-related issues, hence, the overall health benefits of such preservatives can be segment drivers.
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Natural Food Preservatives Market Segment Analysis-By Application
The Natural Food Preservatives Market based on the application can be further segmented into meat & poultry, seafood, snacks, bakery and dairy products, fruit, vegetables, various beverages, and many more. The meat & poultry segment held the largest share in 2021. The growth is owing to colossal consumption as a massive chunk of the global population is non-vegetarian. As globalization is prevailing and trades are expanding among countries the disposable income or purchasing power of people is accruing, and as a result, consumers buying behavior is altering, and more people can afford to make such purchases. On another hand, the shelf life of meat is really low which makes it compulsory to use preservatives.
However, the snacks segment is estimated to be the fastest-growing with a CAGR of 3.8% over the forecast period 2022-2027. This growth is owing to the growing vegan population and soaring trends of convenient foods. For example, in the year 2020, the term “veganism” saw a 580% increase in the google search, additionally terms such as “cruelty-free food” took the second spot. Owing to such trends, the application of the preservative under natural foods would grow at a steadfast pace.
Natural Food Preservatives Market Segment Analysis-By Geography
The Natural Food Preservatives Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 33% of the overall market in 2021. The growth in this segment is owing to the factors such as the majority of the population is non-vegetarian. The US secured the first rank in 2020 in the list of countries with beef consumption. Out of total beef consumption which was 130 billion, US accounted for 21% of consumption. Moreover, due to the affluent economies of North American nations such as Canada and the US, the demand for convenient food is quite high.
However, Asia-Pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to the growing western influence in Asian countries like India, Indonesia, China, etc. In addition to that growing population and busy lifestyles of people are fueling the demand.
Natural Food Preservatives Market Drivers
Intensifying cognizance among people is anticipated to Boost Product Demand.
The demand for natural food preservatives has been majorly driven by literacy rates. People are gaining cognizance of how they can successfully maintain the taste and find the right balance for their health. Artificial food preservatives led to problems such as increased cases of cardiovascular diseases and a heightened LDL ratio. Consumers now tend to adopt natural food preservatives as they benefit their overall health, and a world literacy rate of 86.3% has only helped the market and has driven it multifold.
Soaring purchasing power in hands of people and busy lifestyles are expected to Boost Product Demand.
Globalization is the biggest factor behind connecting countries with each other through trade. Similarly, it is the prime reason behind the affluent GDPs of developed nations. Similarly, as developing countries like China, India, Brazil, Indonesia, South Africa, etc. are increasing their exports the purchasing power in the hands of the general public residing in these nations is augmenting. For example, India has observed an annual growth rate of 4.39% in the PPP ratio, which is allowing for better consumption. As a result, people can afford to buy convenience foods, meat. On other hand, eventful lifestyles of people are also gravitating toward ready-made convenient foods. Therefore, with a surge in demand for convenient food, the demand for its elongated life is also mounting which is driving the overall preservative industry.
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Natural Food Preservatives Market Challenges
Innumerable health Side effects linked to preservatives are Anticipated to Hamper Market Growth.
To keep the freshness, taste, and expand the life of food preservatives have become an important part of inventories of manufacturing companies. Although surging demand for convenient or ready-made foods is driving the preservatives market. But, several health hazards accompanying such foods are anticipated to strangle the overall progress. Synthetic preservatives like sodium propionate, potassium, and calcium propionate may lead to several heart hitches, breathing complications, abnormalities accompanied by the immune system, and cancer. Moreover, the cancer numbers have only been growing worldwide. For example, in Canada, out of every 5 people, 2 would be diagnosed with Cancer in their entire lifetime.
Natural Food Preservatives Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in this market. Natural Food Preservatives top 10 companies include
Kerry Group
Foodchem International
Kemin industries
BASF SE
Cargill
Jungbunzlauer Suisse AG
Galactic
Tate & Lyle
IFF Nutrition and Biosciences
ADM
Partnerships/Product Launches:
On November 17, 2021, Israel-based biotechnology company “Synergio” has successfully launched a preservative named “BioEco 94” which the company claims is as decent as synthetics because preservatives help in preventing the positive microbiomes which benefits the body and deteriorating bad ones. Additionally, the company presented that the preservative was able to target harmful microorganisms, however, leave the positive bacterial untouched.
On November 6, 2021, Singapore Food Agency was ordered to recall a dark soy sauce named “Feng He Garden” from the market due to non-disclosure of added preservatives on the packaging which was a violation of food laws and regulations, moreover, all three sub-categories were being called back. Additionally, the agency said that consumers should not consume such products, and should immediately contact the PoC for the said purchase
On August 25, 2021, Conagen expanded its offering of natural preservatives, which are made from the fermentation process. The fermentation of P: Coumaric Acid or PCA has been used. The product comes at a time when clean-label products are on rising. Furthermore, PCA expands the toolbox for product developers for a scalable -low-cost -use, natural solution for increasing the terms shelf life. PCA is a natural antioxidant and antimicrobial compound found in all plants, but predominantly in peanuts, tomatoes, carrots, basil, and garlic.
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Key Takeaways
Geographically, the North America Natural Food Preservatives Market accounted for the highest revenue share in 2021 owing to the presence of a population highly dependent on pre-cooked food, and the associated high-disposable income. However, Asia-pacific is poised to dominate the market over the period 2022-2027 owing to the rising trends of adopting western food and life followed by rapid urbanization.
Augmenting the use of ready-made and convenient food is said to be a preeminent driver that is steering the growth of the Natural Food Preservatives Market. Moreover, several health issues associated with synthetic food preservatives are said to reduce the market growth.
Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Natural Food Preservatives Market report.
Relevant Links:
Lactic Acid Market – Forecast (2022 – 2027)
https://www.industryarc.com/Report/15126/lactic-acid-market.html
Food and Beverage Additives Market – Forecast (2022 – 2027)
https://www.industryarc.com/Report/18810/food-and-beverage-additives-market
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