Processed Food & Beverage Preservatives Market: Changing Lifestyles Lead Consumers to Opt for Processed Foods

The study provides a decisive view of the processed food & beverage preservatives market by segmenting it based on product type, form, function, application, and regional demand. Product type segmentation includes analysis on type of preservatives used in processed food & beverage and their future projections. Form segment includes analysis on solid and liquid preservatives and their current and future trends. Function segments have been analyzed based on current trends and future potential. The market has been estimated from 2016 to 2024 in terms of revenue (US$ Mn) and volume (kilo tons). Regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. These have been further sub-segmented into countries and regions with relevance to the market. The segmentation also includes demand for product type, form, function, and applications in all regions.

Changing lifestyles and rapid urbanization are the two primary growth drivers in the global processed food and beverage preservatives market. Lack of time to cook elaborate, nutritious meals due to hectic schedules is prompting several consumers to buy processed food items and beverages. Frozen food items, ready-to-eat products, and canned beverages are few of the popularly sold items that have increased the uptake of preservatives used for making them. A huge base of young population that with a considerable purchasing power is also fuelling the uptake of products that use preservatives such as energy drinks, soft drinks, and juices.

Meanwhile, the continuation of age-old practices of storing food items such as pickles has also increased the demand for salt, vinegar, and sugar amongst others. Furthermore, several consumers are opting for preserving home-cooked food items for a longer duration due to lack of time to prepare fresh food on daily basis. The ongoing efforts by fast food companies to prolong the shelf life of their products due to the possibility of food spoilage is also expected to augment the demand for synthetic preservatives in the coming few years.

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On the basis of geography, the global market is segmented into Europe, Asia Pacific, the Middle East and Africa, North America, and Latin America. Presently, North America has a leading share in the global market due to an exceptionally high demand for packaged foods and beverages by consumers across the region. Several consumers are opting for packaged food items due to their sheer convenience. Analysts anticipate that Asia Pacific will also be an emerging market due to rapid urbanization and changing lifestyle of consumers. Furthermore, the tropical climate of Asia Pacific, which makes food and beverages susceptible to spoilage, will also augment the demand for processed food and beverage preservatives in the region in the coming few years.

Some of the key players in the global processed food and beverage preservatives market are Celanese Corporation, Koninklijke DSM N.V., E. I. du Pont de Nemours and Company, Kerry Group Plc, Shanghai Ruidian Trading Development Co., Galactic SA, Hawkins Watts Limited, Cargill, Incorporated, Innophos Holdings Inc, Kemin Industries, Inc., Akzo Nobel N.V., Albemarle Corporation, Naturalin Bio-Resources Co., Ltd, Shandong Kunda Biotechnology Co., Ltd., Ningbo Pangs Chem Int’l Co., Ltd., Ecochem Group Co., Ltd., and Zhejiang Silver Elephant Bioengineering Co., Ltd.

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