Antimicrobial Preservative Market Report Overview
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The global antimicrobial preservative market size was USD 4.206 billion in 2022 and the market is expected to reach USD 5.952 billion in 2030, exhibiting a Compound annual growth rate (CAGR) of 4.4% during the forecast period.
The market's growth and demand returning to pre-pandemic levels when the pandemic is finished is what caused the abrupt increase in CAGR.
In the pharmaceutical industry, preservatives are manufactured or natural compounds that are utilized as additives. A preservative agent's primary use is to prolong the shelf life of medicinal products by preventing the growth of microorganisms that cause microbial breakdown. Some medicinal goods needed to be preserved because they contained microorganisms. Pharmaceutical preservatives are applied to products with increased water content to prevent microbial deterioration and change during storage.
The market for natural food preservatives is predicted to develop as a result of the trend toward natural preservatives, which has pushed the use of antibacterial substances derived from plant sources.
COVID-19 Impact: COVID 19 Pandemic Leads to a Significant Growth in The Market
Worldwide sales of retail and off-the-shelf items relating to travel restrictions have surged as a result of the COVID-19 epidemic. As a result, a significant section of the world's population started storing food and other food items for their homes. In the medium term, this eventually had a positive impact on industrial demand for food preservatives. During the epidemic, demand for bakery products, frozen meals, snacks, and other application areas increased. Additionally, there has been an increase in consumer demand for Ready-to-Eat (RTE) meals, which has recently presented makers of food preservatives with an equal opportunity. The baking industry experienced fast growth during the pandemic, and the shift in customer preferences toward ready-to-eat meals in supermarkets significantly increased the demand for food preservatives. In order to satisfy the innate needs and more recent demands of the baking business, manufacturers are currently concentrating on a number of releases of plant-based food preservatives.
Antimicrobial Preservative Market Latest Trends
"Clean Label Is a Noticeable Trend In All Food Markets Worldwide"
Consumers prefer natural and healthy preservatives and ingredients since they are continuously looking for organic products with naturally occurring fresh, wholesome, and balanced nutrients. Because people believe natural substances to be the safer and better option, natural preservatives are more likely to be approved than synthetic ones. The food and beverage industries are seeing a lot of new opportunities as a result of the growing trend for clean label products, which is gradually becoming required everywhere. Clean labeling of food goods, where the product information is provided on the packaging informs consumers that the product is healthy to ingest. Health-conscious consumers expect information on the components that are being used in the manufacture of the food products they purchase.
Therefore, the antioxidant market is anticipated to experience considerable increase throughout the projected period due to the rising consumption of processed foods, such as meats and snacks, coupled with different types of drinks. The demand for feed preservatives is anticipated to rise globally as cases of animal feed degradation caused by bacterial and fungal contamination rise.
Segmentation
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- By Type Analysis
According to type, the market can be segmented Sorbic Acid, Benzoic Acid, Propionic Acid, Sulfur Dioxide, Nitrates, and Antimicrobial Preservative. Sorbic Acid will be the leading segment during the forecast period.
- By Application Analysis
Based on application, the market can be divided into Pharmaceuticals, Food, Others. Pharmaceuticals are anticipated to have the dominant market share.
Driving Factors
"Growth Will Be Fueled By Need for Creative Solutions to Improve Food Supply Systems"
Due to the availability and rising consumer demand for a variety of food goods, food imports are rising globally. Numerous bacteria, viruses, and parasites are to blame for the majority of food-borne disorders. Therefore, preserving food safety is essential to lowering the chance of contracting illnesses and infections. By making the food supply chain more efficient, food safety and preservation can be improved during food distribution. Antimicrobial preservatives are being employed in FOOD AND BEVERAGE goods more frequently to accomplish this. Pharmaceutical firms can comply with the strict regulatory criteria relating to product safety and quality thanks to the usage of antimicrobial preservatives. This promotes the use of antimicrobial preservatives around the world.
"More Antimicrobial Packaging Being Used In Several Industries"
The goal of antimicrobial packaging is to prevent the growth of germs that contaminate items by incorporating antimicrobial chemicals into the packaging materials. The use of packaged foods, greater usage of new food-grade materials by vendors for packaging and growing consumer awareness of health-related issues are all factors driving the antimicrobial packaging market. For instance, one of the preservatives used in packing, bacterial cellulose, has excellent mechanical and water retention qualities. Additionally, it is employed to increase the shelf life of pharmaceutical and personal care goods. Thus, the sales of antimicrobial preservatives will rise throughout the forecast period as a result of the increased use of antimicrobial packaging in numerous sectors.
Restraining Factors
"Usage of Various Preservation Methods Restricting Market Expansion"
There are various preservation techniques, such as pasteurization, vacuum packaging, changed environment, irradiation, and pulsed electric field food processing, which reduce the need for or the usage of preservatives. The need for preservatives in milk is reduced by pasteurization. Food preservation has been made possible by packaging methods including vacuum packaging and modified environment packaging. The modified environment approach, which extends products' shelf lives and enables food producers and processors to use fewer preservatives in the food item, is one of the packaging methods expected to rise over the next five years. Such methods have the potential to hurt the market for food preservatives. Compared to synthetic food preservatives, natural food preservatives are more expensive.
Antimicrobial Preservative Market Regional Insights
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"Food Preservative Market Is Expected To Grow Most Rapidly In the Asia Pacific Region During The Forecast Period"
Due to the high consumption of packaged foods and the strong demand for high-end cosmetic goods with natural additives, North America accounted for the greatest revenue share of over 31.8% in 2020. Another significant aspect influencing product demand is the highly developed healthcare industry in North America. The biggest export markets for the food and beverage sector in Europe are the United States, China, Canada, Australia, Saudi Arabia, and Japan. Beverages including spirits and soft drinks, as well as meat, seafood, and dairy products, are the main exports. The EU has established a directive 2003/99/EC for assessing the microbiological risk associated with ready-to-eat (RTE) foods in order to assure food safety due to the increase in processed food imports and exports.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Albemarle Corporation (U.S.)
- AkzoNobel (Arnhem)
- Archer Daniels Midland Company (U.S.)
- BASF SE (Germany)
- Brenntag (Germany)
- Cargill (U.S.)
- Celanese Corporation (U.S.)
- Chr.Hansen A/S (Denmark)
- Corbion N.V (Netherlands)
- DowDuPont (U.S.)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 4.206 Billion in 2022 |
Market Size Value By |
US$ 5.952 Billion by 2030 |
Growth Rate |
CAGR of 4.4% from 2022 to 2030 |
Forecast Period |
2023-2030 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
By Type
|
|
By Application
|
Frequently Asked Questions
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What value is the global Antimicrobial Preservative Market expected to touch by 2030?
The global Antimicrobial Preservative Market is expected to touch USD 5.952 billion by 2030.
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What CAGR is the Antimicrobial Preservative market expected to exhibit during 2022-2030?
The Antimicrobial Preservative market is expected to exhibit a CAGR of 4.4% over 2022-2030.
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Which are the driving factors of the Antimicrobial Preservative market?
The main elements fostering the development of the antimicrobial preservatives market are there is a need for new approaches to improve food supply networks.
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Which are the top companies operating in the Antimicrobial Preservative market?
Albemarle Corporation, AkzoNobel, Archer Daniels Midland Company, BASF SE, Brenntag are the top companies operating in the Antimicrobial Preservative market.