North America is the largest market for food & beverage preservatives market and is expected to hold its position during the forecast period. The region has been the front runner in the field of research and development, and technological advancement. Nowadays, the region is well recognized for the presence of well-established manufacturers and growing consumers for processed and packaged foods and beverages.
The U.S. food & beverage preservatives market is one of the biggest in the world. Changing costumer’s lifestyle raises the preference for healthy and fresh food coupled with rising demand for meat and poultry. Earlier, the manufacturers in U.S. tremendously used chemical preservatives such as nitrites, benzoates, and others. However, owing to growing concern over harmful effects of synthetic preservatives key market players have shifted in manufacturing from synthetic preservatives to natural preservatives such as Corbion N.V., a leading manufacturer use, vinegar along with jasmine extract as anti-oxidant preservative to prevent food from moisture spoilage. All these factors present a favourable environment for the growth of the food & beverage preservatives market.
The key players in the global food & beverage preservatives market are Akzo Nobel N.V., Brenntag Solutions Group, Inc., Cargill Incorporated, Danisco A/S, Galactic, Hawkins Watts Limited, Kemin Industries, Inc., Koninklijke DSM N.V, Tate & Lyle, Univar Inc.
Impact of COVID-19
The recent pandemic outbreak of COVID-19 across the globe pose to have significant distress and loss in almost every country. The pandemic has affected the global economy by directly affecting production and demand, disrupting supply chain and market, and by its impact on financial markets & firms. The unprecedented outbreak of COVID-19 has a positive impact on the food & beverage preservatives market owing to panic purchasing behaviour of consumers coupled with rising demand for processed and packaged food due to longer shelf life and easy storage during the COVID-19 pandemic has promoted the market growth.
“The anti-microbial preservatives segment is expected for the largest share of the food& beverage preservatives market in 2023”
Based on function, the food & beverage preservatives market is categorized into anti-microbial and anti-oxidant preservatives. In 2023, the anti-microbial preservatives segment was expected to account for the largest share of the food & beverage preservatives market. The segment mainly comprises of sorbates, benzoates, propionates, and other chemicals which are categorized as generally recognized as safe. Edible oils and rosemary extracts are natural anti-microbial preservatives. The large share of this segment can primarily be attributed to the growing health consciousness among urban population. In addition, high demand of chemical as well as natural preservatives in brewing industries, and the rising acceptance in processing of foods by various regulatory agencies have further stimulated the adoption of beverage carton packaging machinery in the non-alcoholic beverages sector
