Food Preservatives Market – India Industry Analysis, Growth, Trends, and Forecast
The India food preservatives market size is estimated to expand at a robust CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the changing customer lifestyle and rising import and export of spices and seasonings.
Food preservatives are additives that keep the food safe and fresh for longer periods of time. During the manufacturing and packing of drinks, dairy goods, snacks, meat, and seafood, food preservatives are employed to avoid bacterial impacts. Natural and artificial food preservatives are the two types of preservatives available. Food preservatives also serve a variety of purposes, such as antimicrobials, antioxidants, chelating agents, and enzyme assailants.
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Natural preservatives such as salt, sugar, alcohol, and vinegar are used in the production of jams, juices, and pickles. Artificial preservatives such as sulphites, nitrates, and benzoates are widely used in the food industry. Nitrites are used to protect meat products, including sausages and hams against the bacteria that causes botulism. Molds and bacteria are more susceptible to benzoic acid than yeasts. It is utilized in low-sugar jams, jellies, and sauces as an antifungal and antibacterial agent.
Market Trends, Drivers, Restraints, and Opportunities
- Rising demand for convenience and packaged food products by the increasing population and rising urbanization rates are anticipated to boost the market growth.
- Increasing awareness about the ill effects of synthetic ingredients and growing consumer demand for fresh and natural foods are expected to spur the growth of the market.
- Rising consumer willingness to pay a premium price for natural food products is projected to drive the market growth.
- Growing processed food consumption is propelling the market growth.
- Increasing awareness about artificial preservatives and avoiding age-old additives is expected to fuel the market expansion during the forecast period.
- Rising geriatric population and increasing inclination of calorie-conscious consumers toward healthy alternatives are driving the market growth during the forecast period.
- Health hazards associated with food preservatives are expected to restrict the market expansion.
- Increasing R&D investment on development of preservatives, flavour enhancers, natural colour additives, and protein-based fat replacers, which enhance the organic food quality, is estimated to create immense opportunities for the market growth.
Market Segment Insights
Synthetic segment is projected to account for a major market share
On the basis of types, the market is bifurcate into natural and synthetic. The synthetic segment is expected to account for a key market share during the forecast period owing to their low cost, diverse functionalities, and abundance. Synthetic type is widely used as it is economical and easy to formulate. They can be formulated depending on the application requirements. Extension of product shelf life and augment in demand for ready-to-eat food products are anticipated to drive the market segment growth. Expanding use in meat, poultry, and dairy products are fostering the market segment. To increase the efficiency, sorbates, benzoates, and propionates are frequently used together. Higher permitted limit and its uses in baked products and snacks are fostering the segment growth.
Meat industry segment is anticipated to expand at a substantial CAGR
In terms of applications, the market is segmented int beverages, dairy & frozen products, bakery, meat industry, confectionery, and others. The key preservative added to cured meats, bacon, and ground beef is sodium nitrite. Sodium nitrite, when added to meat and fish, destroys toxins and reacts with proteins in the meat. Solutions used by meat processors to improve shelf-life and taste can also help to reduce pathogens. Preservatives for meat are required on a large-scale due to increasing consumption of the same in the country.
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Key players competing in the India food preservative market include Cargill Inc, Kerry Group, Corbion Purac, Royal DSM, and BASF SE.
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