Food Preservatives Market size was valued at USD 2,942.7 million in 2021 growing at a CAGR of 4.9% from 2022 to 2028. The global market provides a detailed overview of the global food preservatives market, and that can be segmented by function, by type, by source, and by application. By function, the global food preservatives market has been segmented into Antimicrobials, Anti-oxidants, and Chelating agents. The Antimicrobials segment is likely to be the largest and fastest-growing segment in terms of function in 2021 and is expected to maintain the growth in the forecasted years. It is attributed to their widespread application in meat, poultry, and dairy products. There are various other applications in various industry across the globe. Based on type, the global food preservatives market is segmented into Benzoates, Sorbates, Nitrates, Sulphites, Vitamin E&C, Polyphosphates, Disodium EDTA. Among these, the Sorbates segment is expected to have the fastest-growing market during the forecast period 2022-2028 due to its wide applications in meat, poultry and dairy products. Based on source, the global food preservatives market is segmented into Chemicals, Microorganisms, Plants. The Chemicals segment accounts for the largest share in 2021. Microorganisms segment is the second-largest share during the forecast period 2022-2028. Based on application, the global food preservatives market is segmented into Bakery, Beverages, Oils and fats, Dairy products, Seafood, poultry and meat industry, Snacks, Confectionery, and Others. The poultry and meat industry segment accounts for the largest share in 2021 and is anticipated to maintain the trend in the forecasted years. Food Preservatives is one of the oldest technologies to prevent food from deterioration. There are several ways to preserve food such as boiling, pasteurizing, freezing, pickling and dehydrating. In conventional methods, sugar, salt and mineral salts are used as preservatives to preserve food. Preservatives play a vital role in the seafood, poultry and meat industries.
In Oct 2022, Licious, the meat start-up entered the alternative protein sector with the launch of a direct-to-consumer (D2C) plant-based meat brand.
In Jan 2022, Florida Food Products (FFP), a creator of vegetable and fruit-based clean label ingredient solutions, unveiled its latest ingredient offering available for private label use.