The market for food preservatives will see 2.5% CAGR (compound annual growth rate) over the next five years, becoming worth $2.5 billion by 2016, according to a new report.
The report, Food Preservatives Market by Types, Functions, & Applications, Trends & Global Forecasts (2011–2016) published by MarketsandMarkets, identifies the driving, and restraining, factors behind the global food preservative markets with analysis of key trends and challenges.
The report argues that the CAGR of 2.2% in Europe will be largely driven by natural preservatives. Growth in North America and APAC (Asia Pacific) is expected to be slightly higher.
North America is currently the largest market for food preservatives at $878.5 million, followed by APAC at $716.7 billion and Europe at $393.0 million.
The report analyses preservatives manufactured from natural sources (salt, sugar and honey) and from chemical-based preservatives (sorbates, benzoates and propionates), and segments the market by its functions such as antimicrobials; antioxidants (BHA, BHT); and others (chelating agents/enzyme attackers).
