Food additives are used to enhance the taste, texture, and color of food while maintaining its nutritional content. Food preservatives are a growing segment in the food additives market as they are used to prevent spoilage and decomposition, which takes place in food products due to microbial reactions. The food preservatives market is expected to reach USD 3.6 billion by 2023 at an estimated CAGR of 3.6%.
The Asia-Pacific food preservatives market is largely driven by the demand for convenience and packaged food by the burgeoning population and rising urbanization rates. However, the major constraint is the increased awareness of the ill effects of synthetic ingredients, and growing consumer demand for fresh and natural foods. Companies are seeing this as an opportunity to innovate and provide solutions in the form of natural and functional ingredients.
Asia-Pacific food preservatives market is classified as natural and chemical, with chemical preservatives currently accounting for a large market share. Preservatives are used in food such as oil & fat, bakery & confectionery, fruits and vegetables, dairy and frozen products, meat, poultry, and seafood, savory snacks, and beverages. Asia-Pacific is the second largest market and the fastest growing segment due to the growing preference for packaged and processed food.
As per the regulations, it is required to adhere to the good manufacturing practice (GMP) to make sure minimum amount is added to achieve the desired technological effect.
Food preservatives are classified as natural and chemical preservatives, with chemical preservatives currently accounting for a large market share. In India, sodium benzoate cost is driven by the pricing of its core components, sodium hydroxide, and benzoic acid. The global outbreak of natural disasters has had a significant impact on the supply and demand for sodium hydroxide, driving prices higher.
The strategy used by companies is increasing the expenditure on R&D to innovate products under the natural preservatives segment to meet growing consumer preferences.
- January 2018 - Agribusiness giants Archer Daniels Midland Company opened food innovation center in Singapore. It will develop flavors and specialty ingredients for food & beverage manufacturers in the region and beyond.
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- Analyzing outlook of the market with the recent trends and Porters five forces analysis
- Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis, including qualitative & quantitative research incorporating the impact of economic & non-economic aspects
- Regional and Country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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1.1 Research Methodology
1.2 Market Definition
1.3 Report Description
2. Key Findings
3. Market Overview and Dynamics
3.2.1 Supply Chain Complexities in the Food Industry
3.2.2 Expanding Processed Food Market
3.2.3 Penetration of Organized Retail Sector
3.2.4 Increasing Demand from Emerging Countries
3.3.1 Consumer Awareness on Ill Effects of Chemical Preservatives
3.3.2 High Cost of Natural Preservatives
3.3.3 Demand for Clean Label Solutions
3.4.1 Growing Innovations in Natural Preservatives Segment
3.4.2 Wider Acceptance of GSFA for Improved International Trade
3.5 Porters Five Forces Analysis
3.5.1 Bargaining Power of Suppliers
3.5.2 Bargaining Power of Buyers
3.5.3 Degree of Competition
3.5.4 Threat of Substitute Products and Services
3.5.5 Threat of New Entrants
4. Market Segmentation
4.1 By Type
4.1.1 Natural Food Preservatives
4.1.2 Chemical Food Preservatives
4.2 By Application
4.2.1 Dairy and Frozen Products
4.2.3 Meat, Poultry, and Seafood Products
4.2.6 Oils & Fats
4.3 By Geography
188.8.131.52 Rest of Asia-Pacific
5. Competitive Landscape Overview
5.1 Market Share Analysis
5.2 Strategies by Leading Players
5.3 New Product Developments and Other Innovations
6. Company Profiles
6.1 Akzo Nobel
6.2 Albemarle Corporation
6.3 Archer Daniel Midland
6.4 BASF SE
6.5 Brenntag Inc.
6.6 Cargill Inc.
6.7 Celanese Corp.
6.8 Chr. Hansen
6.11 JEYS F.I. Inc.
6.12 Jungbunzlauer AG
6.13 Kerry Group
6.14 Royal DSM