China Food Preservatives Market is projected to witness a CAGR of 4.76% in the forecast period (2020-2025).
Key Highlights
- 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 be the fastest in China, mainly attributed to China accounting for a major share in the food processing industry.
- Preservatives are used in foods such as oil & fat, bakery & Confectionary, Fruits and Vegetables, dairy & frozen products, meat, poultry & seafood, savory snacks, and beverages. The Asia Pacific is the second-largest market and the fastest-growing segment due to growing preference for packaged and processed foods.
Key Market Trends
Growing Demand for Processed Food
A quickly rising population and more noteworthy levels of urbanization, in China, have helped the interest for handled nourishment items along these lines, thus, driving the interest for sustenance fixings. Due to industrialization, a number of US firms established their subsidiaries, thus, increasing the global processed food consumption in developed markets. Asia-Pacific and other developing markets with changing lifestyles are driving the food processing industry. India and China are among the largest food processing countries in the world and their rising population is driving the need for food security, which is a major factor for processed & packaged food, and in turn, for the food preservatives players.
Growing Demand for Organic Food
A growing number of consumers are increasingly becoming aware of artificial preservatives, and are avoiding age-old additives, like BHA and BHT, sorbates, benzoates, and other preservatives. The rising ageing population and calorie-conscious consumers are looking for healthy alternatives in the form of ‘organic food, thus, driving innovations. R&D is being undertaken, with new formulations coming up in categories, like preservatives, flavour enhancers, natural colour additives, and protein-based fat replacers, which enhance the organic food quality.
Competitive Landscape
The strategies used by companies is the increase in Research and Development expenditure to innovate products under the natural preservatives segment to meet the growing consumer preference. Some of the major key players in the china food preservatives market includes Cargill Inc, Kerry Group, Corbion Purac, Jungbunzlauer Ag, BASF SE, Archer Daniel Midland among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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