Food preservatives are substances or chemicals, which are added to food or food products, to prevent inherent decomposition, which could be caused either by microbial growth or by gradual chemical changes. Increase in global food demand, and the world trade of food products, food preservatives have gradually evolved, in accordance with consumer eating habits and consumption tendencies. Consumers today are highly informed, and remain aware of the effects of different food preservatives in products. Hence, the demand for food products that have minimal chemical ingredients are on the rise. Growing population, coupled with concerns on food safety and quality, have further driven the food processing industry to invest in the research of preservative alternatives, which not only prevent spoilage and help extend food shelf life, but are also perceived as being a natural and healthier option.
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The global food preservatives market was estimated at USD 2.72 billion in 2017. It is projected to reach USD 3.07 billion by 2023, at a CAGR of 2.5% from 2018 to 2023. Factors such as increasing consumer inclination towards the consumption of convenience and RTE meals, and various technological advancements in food preservation, are expected to drive the demand for food preservatives, globally. The trend of significant inclination toward convenience food and away from traditional food products stems from an innate need for expediency and comfort. There has been an increase in the working population, with most countries having average yearly working hours of about 1,700 to 2,000, which has made it extremely difficult for consumers to spend hours preparing complete meals. Additionally, the advent of the demographic range of the population, falling between the age group of 21 to 30, as the major earning sector, provides greater opportunities to manufacturers of convenience food products, due to the demography being lesser inclined towards spending hours preparing traditional home-cooked meals. This has led to the demand for better and less harmful preservatives for food products.
The two types of food preservatives are natural and synthetic, of which, it is the natural type of food preservatives that is expected to be growing at a faster rate during the forecast period. Even though chemical preservatives are known to be efficient in the function of food preservation, studies, and recent consumer trends have always suggested opting for natural alternatives. This is majorly because, the use of natural preservatives are not expected to alter the inherent flavor and nutritional value of the food product, while preserving it. Amongst the many preservation additives used, natural preservatives constitute the class of ingredients which, under most cases, also form part of the food product formulation process. These products thus perform a dual function by also acting as the preservative, to inhibit unwanted microbial growth.
An important market trend that is expected positively affect market growth, is the combined application of different food preservatives. For example, sorbates are most commonly used with benzoates in a variety of applications, particularly in freshly prepared salads and other related food products, in which both these ingredients, provide a longer shelf life. However, today nitrites are being used in combination with starter cultures in some of the European countries, in products, like, salamis. The use of starter cultures and nitrites together allowed the control of the proliferation of certain bacteria. Such combined usage of adequate preservatives and starter cultures allows the production of safer products with improved features.
Dow DuPont, Purac Biochem BV, Royal DSM, Akzo Nobel, Cargill, Kerry Group, and Albermarle Corporation, are a few major players of the food preservatives market. Growing innovations in the convenience food space, and improving regulatory standards in the market for food preservatives is further expected to propel the demand for high quality preservatives, thereby, demanding better technological advancement from market players.
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