The North America Food Preservatives Market has been estimated at USD 1.11 Billion in 2021 and is projected to reach USD 1.25 Billion by 2026, at a CAGR of 2.51% during the forecast period from 2021 to 2026.
Preservatives are an important factor in the meat, poultry, & seafood industry. They are added to beef, meat, bacon and other products to destroy toxins and react with proteins. Preservatives reduce pathogen attack and provides a better shelf-life and taste.
Increasing consumption of processed food items, which are ready-to-use, and have a long shelf life are attracting the people across the states of U.S. and Canada. Thus, there is a great increase in the demand for food preservatives, with increasing demand for processed food, which is elevating the market growth. But, consumers are also becoming conscious about the ill effects of the chemical preservatives, which may constrain the market growth.
North America 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 North America food preservatives market. Beverage industry is the major consumer for preservatives, followed by meat industry.
Geographically the North America Food Preservatives Market is segmented into US, Canada and Rest of North America. North America is the biggest market in the world with a market share of 33%. U.S holds the largest share. The market in North America is mainly growing due to stable increase in the demand for minimally processed food items with long shelf life, thus, attracting the companies to expand the consumer base.
Key Players in the Market:
Major Key Players in the North America Food Preservatives Market are
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