(Entertainment-NewsWire.com, February 08, 2018 ) The Asia-Pacific Food Preservatives market has been estimated at USD 0.72 Billion in 2016 and is projected to reach USD 0.92 Billion by 2021, at a CAGR of 4.98% during the forecast period from 2016 to 2021. Food preservatives is an aid which has enabled to increase the shelf-life of food products and has helped in obtaining functional properties suitable for a wider range of industrial applications in food industries. They are added to the food item to prevent microbial growth. Also, they extend the shelf-life and enhance the taste.
Growth of demand for food preservatives in Asia-Pacific region is mainly due to changing lifestyle of people which is increasing the consumption of processed foods, which require food preservatives for long shelf life. The market is also driving due to increased demand for organic foods which require different kind of preservatives. But, the market growth is constrained due to stringent regulations by government over the pricing and also due to consumer awareness about the ill-effects of synthetic preservatives.
Asia-Pacific market for food preservatives are segmented into Type, Function and Application. Each of these segments are further sub segmented as follows Type: Natural and Synthetic; Function: Antimicrobials, Antioxidants, Chelating and enzyme inhibitors; Application: Beverages, Oils & fats, Bakery, Dairy & frozen products, Snacks, Meat, poultry, & seafood products, Confectionery, Other applications. Benzoic acid and Sodium benzoate are the most preferred preservatives, followed by sorbates. Sea food products, processed meat and poultry consume the major share of Asia-Pacific food preservatives market. Beverage industry is the major consumer for preservatives, followed by meat industry.
Geographically, Asia-Pacific market for food preservatives is segmented into China, India, Japan, South Korea and Australia. The Asia-Pacific market is growing extremely with higher growth rate during the forecast period. With India being the worlds second largest food producer after China, there is a great potential for emerging markets in this regions, with global companies entering into the markets.
Major companies are partnering with diverse set of suppliers to boost their markets. BASF SE, Cargill Incorporated, Celanese Corporation are the major players in the Asia-Pacific market. Other important companies include Chr. Hansen A/S, Kerry Group, Koninklijke DSM N.V, The Archer Daniels Midland Company, Corbion N.V., DuPont and JEYS F.I. Inc.
Market Segmentation 1) By Type Natural Synthetic
2) By Function Antimicrobials Antioxidants Chelating and enzyme inhibitors
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