Global food preservatives market will be worth $2.5 billion by 2016
DALLAS — The report "Global Food Preservatives Market by Type, Functions, Applications, and Geography: Trends and Forecasts (2011-2016)," from MarketsandMarkets, defines and segments the global food preservatives market with analysis and forecasting of the global revenue for the sector.
The report estimates the global food preservatives market to be at $2.5 billion by 2016, growing at a CAGR of 2.5 percent, essentially boosted by the fast growth amongst natural preservatives. North America stands as the leader, followed by Asia-Pacific, which shows promising growth and a considerable market share. North America and Asia-Pacific together contribute close to 70 percent in the global food preservatives market. The emerging markets within Asia-Pacific, such as China and India drive the high growth rate. Natural preservatives, the latest development in the sector, is the key driver of the growth of 2.2 percent in Europe. The high growth within Europe is in Germany, France, UK and Italy.
Globalization, world trade, merging consumer tendencies and choices, growing concerns regarding food safety and quality are some of the key factors driving the food preservatives market. Food processing industries have been driven to invest in research of preservation alternatives which are also perceived as being natural and healthy, in addition to their primary function of enhancing the shelf life of the product of concern.
MarketsandMarkets is a global market research and consulting company based in the U.S.