Albany, NY, March 9, 2015 (GLOBE NEWSWIRE) -- According to the report, the global food preservatives market was valued at USD 2,000 million in 2013 and is estimated to reach USD 2,560 million by 2020, growing at a CAGR of 3.5% from 2014 to 2020. Among different regions, the RoW market is expected to grow at a CAGR of 4.0% over the forecast period. In terms of revenue, North America held the largest market size of USD 729.8 million in 2013 and is expected to reach USD 921.6 million by 2020.
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Food preservatives are used as a food ingredient to prevent spoilage and decomposition which takes place due to different chemical reactions and microbial growth in food products. Preservation is done in two basic modes namely physical and chemical. Physical preservation includes drying and refrigeration. In case of chemical preservation, different chemical compounds are added to the food product as preservatives. Usage of food preservatives varies depending on different geographical locations. In different developing countries that do not have strong government regulations face higher level of preservatives in foods.
The major factors driving the growth of the food preservatives market are increasing demand for processed foods, increasing health concerns among consumers and increasing demand for organic food items globally. Among different regions including North America, Europe, Asia Pacific and RoW, North America held the largest market share in 2013 and is expected to remain as the market leader in 2020, followed by Asia Pacific.
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In present, the Global Food Preservatives Markethas their presence globally with many countries currently adopting the food preservation techniques to prevent spoilage by certain chemical reactions or undesirable microbial growth. North America dominated the food preservatives market followed by Asia Pacific. With growing awareness for food quality and safety is fueling the demand for food preservatives in China, Australia, and South Korea among other countries.
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Major players such as BASF SE, Cargill Incorporated, Celanese Corporation, Chr Hansen A/S among others are expected to capture the attention of consumers due to their cost effectiveness vis-à-vis branded products.
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The Food Preservatives Market has been segmented as follows:
Global Food Preservatives Market by Product Type
Product types covered under this research study are:
- Natural Preservatives
- Synthetic Preservatives
Global Food Preservatives Market by Function :
Functional types covered under this research study are
- Antimicrobial
- Antioxidants
Global Food Preservatives Market by Application
- Dairy and milk products
- Meat, poultry and sea food products
- Bakery products
- Beverages products
- Other products
Global Food Preservatives Market by Geography
- North America
- Europe
- Asia Pacific
- RoW
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