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Preservatives Market report categorizes global market by source, function, end-user, and geography - Industry Trends, Outlook, Regulatory Bodies & Regulations and Key Market Players
Preservatives Market - Industry Trends, Outlook,
Regulatory Bodies & Regulations and Key Market Players
Preservatives are substances or chemicals added to drugs, food, beverages,
paints, cosmetics, and wood, in order to prevent microbial growth and
undesirable changes in terms of both, physical and chemical properties.
Preservatives are of two kinds, namely natural and synthetic, both of which are
used to enhance the quality of the end product. Natural preservatives such as
antioxidants, vitamin E, rosemary extracts, and seed extracts are readily
available in nature and often obtained from plant sources. Synthetic
preservatives such as benzoic acid, sodium nitrite, sulfur dioxide, and potassium
sorbate, are chemical components processed and added to the end product.
Growing health concerns among the global populace has caused an increasing
demand for natural preservatives, in turn projecting immense growth for the
preservatives market, over the forecast period. Positive growth outlook of the
food industry in highly populous and emerging economies of India and China,
further contribute to growth of the global preservative market.
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Preservatives Market Challenges – Stringent Government Rules and
Regulations
Stringent regulatory scenario regarding the use of preservatives considering its
negative health impact is a challenge for growth of the global preservatives
market. Various authorities across the globe regulate usage of preservatives.
Despite its usage in various end-use industries such as food and pharmaceutical
drugs, preservatives are associated with a number of health issues such as
cancer, hyperactivity, and heart issues. The U.S. Food & Drug Administration
(FDA) implemented certain guidelines for usage of preservatives in food and
medicines. According to the FDA, 'a chemical preservative should comply with
purity specifications in regulations in 21 CFR 172, or in the Food Chemicals
Codex'. Also, countries such as Finland, Norway, Austria, U.K., and France
have banned synthetic food colorings, while the U.K. and Canada have banned
usage of Olestra (a fat substitute preservative). Such regulations imposed on the
usage of preservatives, inhibits growth of the preservatives industry to a certain
extent.
Asia Pacific is expected to be the fastest growing market for preservatives over
the forecast period, owing to increasing demand for ready-to-consume food
items and growing retail industry. North America is the largest market for
preservatives, followed by Europe. These regions are expected to retain their
dominance over the forecast period, attributing to the availability of retail
outlets, busy lifestyle of consumers resulting in an increasing inclination
towards ready-to-eat food products. Large untapped markets in countries such
as India, Bangladesh, South Africa, China, Malaysia, and Mexico are projected
to provide lucrative growth opportunities for the preservative manufacturers, in
the near future.
Key players in the global preservatives market include Corbion N.V., Cargill
Incorporated, Kerry Group, BASF SE, Chr. Hansen A/S, Archer Daniels
Midland Company, E. I. du Pont de Nemours and Company, and Celanese
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pallavi.reddy
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