Preservatives Industry Overview
The global preservatives market size was valued at USD 5.43 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% from 2020 to 2028.
Increasing demand for long-lasting food products coupled with concerns about quality and safety in pharmaceutical and cosmetic products have contributed to the demand for preservatives. Rapid urbanization and an increasing number of working individualsacross the globe are driving the demand for convenience foods. This demand has triggered the food processing companies to add preservatives to their products to extend the shelf life without compromising on the quality, thereby augmenting the market growth.
Gather more insights about the market drivers, restrains and growth of the Global Preservatives Market
Rising demand for cosmetics coupled with the growing aging population is primary factors contributing to the product demand. With cosmetic manufacturers increasingly using preservatives to maintain the authenticity of cosmetic products, its demand is expected to increase. The U.S. dominated the market in North America in 2020 owing to the strong foothold of key manufacturers in the country coupled with well-established application industries. The busy lifestyle of people has increased the dependency on packaged food products, which is a major factor contributing to the high market share.
The prevalence of various livestock diseases has raised apprehension among consumers regarding meat quality. Thus, animal feed manufacturers are making efforts to develop feed with natural ingredients to offer high-quality meat to consumers. This is expected to surge the incorporation of natural preservatives, thereby driving the marketgrowth. The panic purchasing and hoarding of packaged food products during the initial phase of the COVID-19 pandemic turned out to be beneficial for the food preservative manufacturers.
The pandemic placed increased importance on packaged food that is deemed uncontaminated, benefitting the food preservatives market. In anticipation of potential shortages, farmers panic-bought animal feed as part of the stay-at-home order implemented by the government. This move spiked the demand for animal feed additives, such as preservatives, during the initial phase of the pandemic.
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Preservatives Market Segmentation
Grand View Research has segmented the global preservatives market on the basis of type, function, application, and region:
Preservatives Type Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
Preservatives Function Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
Preservatives Application Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
Preservatives Regional Outlook (Volume, Tons; Revenue, USD Million, 2017 - 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Key Companies profiled:
Some prominent players in the global preservatives market include:
- Zhejiang Bossen Technology Co., Ltd.
- APAC Chemical Corp.
- Nantong Acetic Acid Chemical Co., Ltd.
- Jinneng Science and Technology Company Ltd.
- Guangzhou ZIO Chemical Co., Ltd.
- Nanjing Jiayi Sunway Chemical Co., Ltd.
- CFS Wanglong Flavors Co., Ltd.
- Tianjin Haitong Chemical Industrial Co., Ltd.
- Wanglong Tech Co., Ltd.
- Celanese Corp.
- FBC Industries
- Veckridge Chemical
- Shandong Hongda Group
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