- Rising preference for natural food preservatives in emerged markets are fueling the market.
- Due to an increase in the need for organic food preservatives, this sector has seen new entrants.
- Rigorous government direction will prove to be one of the prominent challenges for food preservatives market.
Safeguarding methods for anticipating food spoilage have been honed since ages. Changing standard of living and expanding trade of food products all over the world have prompted the rising demand for food preservatives. Different government bodies and private sector keep proper control to keep up the high standards of food quality containing additives. Rising customer awareness and changing food consumption propensity alongside growing populace is driving the requirement of different categories of food and beverage sector, which thusly, is fueling the food preservative market. This expansion is additionally determined by rising preference for natural food preservatives in emerged markets and preceded by the demand for processed food in developing markets. Detecting the rising reference of customers in the direction of the natural food products, certain worldwide organizations have begun supplanting artificial food preservatives with the natural additives in their food items. They are moreover utilizing this to extend their product as all-natural food product along these lines drawing in bigger customer preference. Personal care products and convenience food products have additionally boosted the application territory for the food preservatives.
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Currently, a great many people favor ready-to-eat food accessible in the market as opposed to preparing it up at home. These food contain different added preservatives and additives to keep up the quality and to lessen the spoilage by different microorganisms, which is considered to flood the requirement for food preservatives in the approaching years. The health hazards related to these food preservatives are anticipated to limit the market development. Benzoates cause diarrhea and nausea, while saccharin is considered to prompt toxic responses that influence the heart and gastrointestinal tract. Likewise, sodium chloride prompts hypertension, stroke, heart attack, and kidney failure.
Rigorous government direction will prove to be one of the prominent challenges for food preservatives market. For example, on June 20, 2016, the GOI (Government of India’s) FSSAI (Food Safety and Standards Authority of India), bans the utilization of cyclamates and potassium bromate in food. Additionally, on July 01, 2008, the Government of the Hong Kong Special Administrative Region, acquainted new directions to control the utilization of antioxidants and preservatives in food. Likewise, the National Health and Family Planning Committee of China, on December 24, 2014, introduced the National Food Safety Standard for Food Additive Use that was implemented on May 24, 2015.
Major market players have adopted product launches, agreements, mergers and expansions to uphold the strong competition in this market. A few of the top global makers are Ajinomoto Co. Inc, ABF Ingredients Ltd., Archer Daniels Midland Company, Brenntag Inc., Albemarle Corporation, Cargill, Incorporated, Edlong Flavors, Celanese Corporation, Jungbunzlauer Ag, Purac Biochem B.V, Kerry Group, Dupont De Nemours & Company, and Royal Dsm N.V.
The market was previously fragmented by the existence of a huge number of preservatives makers. However, due to an increase in the need for organic food preservatives, this sector has foreseen new entrants building their presence realized. The requirement for natural manufacture is steadily increasing due to increasing customer awareness regarding health and rise in consumer affordability and willingness to recompense for premium products. Consequently, a huge number of natural product makers have embarked their presence in the market, further escalating competition. Worldwide food preservative producers include Galactic S.A., Royal DSM N.V. as well as Kemin Industries, Inc.
New entrants, for instance, Galactic and Kemin Industries are contending by launching new products developed from several natural sources, for instance, vinegar got from rosemary extracts and wood vinegar extract. Mergers and collaborations are a fraction of expansion strategies which makers deploy to gain a bigger market share as well as to increase their geographical presence and product portfolio. Recently, BASF SE has collaborated with SINOPEC a China’s state-owned company to increase production aptitude and cater to China’s strict safety regulations.