FOOD PRESERVATIVES MARKET ANALYSIS

Food Preservatives Market Size and Trends

Global food preservatives market is estimated to be valued at USD 3.47 Bn in 2024 and is expected to reach USD 4.72 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.

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Concerns around food safety and increasing demand for processed and packaged food items are expected to drive the market growth. The market is expected to witness significant growth over the forecast period. Factors such as increasing demand for frozen and processed food products due to changing lifestyles and busier routines will support the increased use of food preservatives. Growing food industries and improving standards of food safety and quality are expected to drive the food preservatives market growth during the forecast period.

Increasing demand for processed and packaged food

With rapid urbanization and busier lifestyles, consumers are increasingly opting for packaged and processed foods that offer convenience without compromising on taste. For instance, according to the data published by Food and Agriculture Organization in 2021, the demand for convenient, pre-prepared foods has increased dramatically as working professionals and nuclear families hardly find time to prepare fresh meals on a daily basis. Food processing aids in enhancing the shelf life of foods without requiring refrigeration during storage or transportation. This allows foods to retain their quality and prevent spoilage for long periods. With the ability to store and consume at one's convenience, processed foods have become quite popular. However, processed foods also need specific preservatives to prevent microbial growth and nutritional deterioration throughout their shelf life. High temperatures used during processing can kill microbes but may not guarantee safety throughout distribution and storage at ambient temperatures. This is where food preservatives play a critical role through their antimicrobial and antioxidant properties. By inhibiting bacteria, molds, yeasts and oxidation reactions, preservatives ensure processed foods remain safe and fresh for the promised shelf life. Their usage also helps food companies adhere to stringent quality and safety regulations. As packaged food consumption continues to rise with urban lifestyles, demand for necessary preservatives is also increasing at a strong pace. 

Growing international food trade and inter-regional movements

In the current globalized environment, international food trade has intensified significantly. Many countries import and export a wide variety of food products to meet local demands and expand business overseas. However, long-distance transportation and uncertain supply chains increase vulnerability to quality issues arising from microbial or oxidative deterioration.