North America Holds Major Market Share in Global Food Preservatives Industry
2021 - 2028 Global Food Preservatives Market
The Global Food Preservatives Market is accounted for $3.07 billion in 2021 and is expected to reach $4.32 billion by 2028 growing at a CAGR of 5.0% during the forecast period. Food preservatives are defined as the specialised chemical ingredients or extracts which are added to the food products during their production processing to restrict the growth of bacteria, microorganisms, and other harmful effects such as oxidisation. The addition of these substances helps in improving the shelf life of the products and retains the freshness making them consumable for a longer period of time. Antimicrobial segment is expected to be the largest during the forecast period, as antimicrobials are currently employed as preservatives within the food industry to extend product shelf life, improve product safety, maintain product quality, reduce processing costs, and increase the ability to distribute products globally in complex supply chains. North America is projected to hold the highest market share, due to advanced technological growth in the field of food processing, longer shelf life, and readily available. Asia Pacific is projected to have the highest CAGR, owing to growth in the population, development in food & beverage industry, and stable economic growth.
Some of the key players profiled in the xx Market include BASF SE, C.H. Guenther & Son, Cargill Inc., Celanese Technology, Chr. Hansen Holding A/S, Corbion N.V, Danisco, DuPont, Hawkins Watts Limited , JEYS F.I Inc., Jungbunzlauer Suisse AG, Basel, Kerry Group Plc., Koninklijke DSM N.V, Kraft Food Ingredients, and The Archer Daniels Midland Company (ADM).
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