Worldwide market for food preservatives is expected to grow at the compounded annual growth rate of 2.5% in next five years and reach the market value of $2.55 billion. This growth is mainly driven by increasing demand for natural food preservatives in developed markets and continued demand for processed food in emerging markets. The growing trend of using natural preservatives originated with the need for European countries to market clean label food products that are free from additives. Changing lifestyle and flourishing food and beverage industry are giving boost to the demand for natural preservatives.
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Preservation techniques for preventing food spoilage have been practiced since ages. Globalization and increase in trade of food products resulted in the need for better food preservation techniques, resulting in the emergence of global food preservative market. Consumer today, is well educated and aware of the health benefits of natural and fresh food. Increasing population and growing concerns for food safety and quality are driving the current market for food processing. Most market players are engaged in research for finding natural preservation alternates which prevents food spoilage as well as extends the shelf life.
Changing lifestyle has resulted in the upsurge for demand of convenience food which has directly impacted the preservation segment of food processing industry. In order to prolong the shelf life of the food products, natural preservatives are replaced by chemical preservatives. There is a tremendous growth potential that this market has in store for future. Looking at the current rate of growth the industry is expected to witness shift in methods and variants of food preservation. Penetration of organic food products in global market will also drive the market growth in developed as well as developing nations.
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