Demand for North America Food Preservatives Market to Grow 1.6X by 2030

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In the wake of COVID-19 pandemic and a series of its domino effect, panic buying and stockpiling tendencies has led to a spike in the sales of ready-to-eat food products during the 2^nd quarter of 2020. High sales of these products have resulted in depletion of distributor level inventories. In addition, factory closures and supply chain disruptions have triggered challenges in raw material procurement and sales of food preservatives.

Key Trends of Food Preservatives Market Study

• North America accounts for nearly 1/3^rd of the global food preservatives market value, and is expected to grow 1.6X during the forecast period.
• Synthetic food preservatives continue to account for major share of the market revenue, while demand for natural food preservatives is expected to grow at a significant rate over the forecast period.
• Antimicrobial food preservatives remain highly preferred and their sales are expected to grow 1.7X during the forecast period.
• Bakery and processed food remain key application areas of food preservatives, while growing adoption in beverage is likely to result in increased market share.

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Key takeaways from the presented Food Preservatives Market analysis:

• In-depth understanding of the innovations in the market space
• Region-wise assessment of the different factors expected to influence market growth in each region
• Influence of technological advances on the market
• A thorough assessment of growth opportunities for market players in different regions
• Analysis of the supply-demand ratio in different end-use industries

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Top Market Players to Prioritize Innovative Product Offerings

The food preservatives market has witnessed multiple product launches and innovations during the recent years. Companies such as BASF SE, Cargill, Incorporated, Celanese Corporation, and Chr. Hansen A/S have been on the forefront of these innovations. A majority of companies operating in the food preservatives market have been expanding their product portfolio to attract and retain a large number of consumers.

In the view of aversion among consumers towards chemical-based food products, companies have been tackling performance issues with partial substitution of synthetic preservatives. Moreover, manufacturers of synthetic or artificial food preservatives are struggling to switch and fulfill newer demands.

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