Antimicrobial Preservatives Market to Surpass USD 1175.26 Million by 2031, Fueled by Increasing Demand For Packaged Food Products

The growth of the antimicrobial preservatives market is fueled by increasing consumer demand for packaged food products worldwide, coupled with rising awareness regarding food safety and hygiene standards. Additionally, technological advancements in preservation techniques and the development of natural and organic preservatives further drive market expansion.

As per SNS Insider, the Antimicrobial Preservatives Market was valued at USD 780.25 million in 2023. It is projected to reach USD 1175.26 million by 2031, growing at a CAGR of 5.2% during the forecast period of 2024-2031.

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Some of the Key Players Included are:

• Albemarle Corp.
• BASF SE
• Celanese Corporation
• Archer Daniels Midland Company
• The Dow Chemical Co.
• Brenntag, and other

Market Report Scope

The global antimicrobial preservatives market is expected to show significant growth due to various factors. With the increasing global population, there’s a heightened demand for food and medicines, especially in urbanized areas. The growing urbanization boosted the demand for ready-to-eat and packaged foods, consequently driving the need for antimicrobial preservatives to extend shelf life. These techniques eliminate the necessity for chemical additives, providing consumers with safer products. As more industries adopt these preservation methods, the demand for antimicrobial preservatives may decrease, impacting market growth.

Market Analysis

The market for antimicrobial preservatives is driven by the increasing global demand for packaged food products, coupled with rising urbanization and disposable incomes. Additionally, the rising awareness among consumers regarding hygiene and food safety further propels market growth. Furthermore, advancements in preservation technologies and the development of natural and organic preservatives present lucrative opportunities for market expansion. However, challenges such as regulatory restrictions and the emergence of alternative preservation techniques pose threats to market growth.

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Segment Analysis

By Type, Sorbic Acid held a significant revenue share in 2023 and is expected to grow predominantly during the forecast period due to its effectiveness as a preservative in various food and beverage products. By Application, Food & Beverages dominated the market with the highest revenue share in 2023 due to the increasing demand for packaged and processed food products globally, necessitating the use of antimicrobial preservatives to ensure product safety and shelf life.

By Type

• Benzoic Acid
• Sorbic Acid
• Sulfur Dioxide
• Propionic Acid
• Nitrates
• Others

By Application

• Food & Beverages
• Pharmaceuticals
• Others

Impact of Russia-Ukraine War

The Russia-Ukraine conflict has disrupted global supply chains, leading to uncertainties in raw material procurement and price fluctuations. This has adversely affected the antimicrobial preservatives market, causing delays in production and distribution. Additionally, geopolitical tensions have heightened market volatility, impacting investor confidence and market stability.

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Impact of Economic Slowdown

The economic slowdown has resulted in reduced consumer spending and disrupted industrial activities, impacting the demand for antimicrobial preservatives. Uncertainties in global markets have led to cautious spending patterns among consumers, affecting the sales of packaged food and beverage products. Furthermore, supply chain disruptions and logistical challenges have added to the market’s woes, hindering growth prospects.

Key Regional Developments:

The North America region held the largest market share in 2023 due to factors such as increasing consumer awareness regarding food safety, technological advancements in preservation techniques, and the presence of key market players. Asia Pacific is poised to exhibit the highest CAGR during the forecast period, driven by rapid urbanization, changing dietary preferences, and growing demand for convenience foods. Additionally, increasing investments in food processing technologies and infrastructure development contribute to market growth.

Key Takeaways for the Antimicrobial Preservatives Market:

• Increasing demand for packaged food products drives market growth.
• Advancements in preservation technologies present growth opportunities.
• Regulatory restrictions and the emergence of alternative techniques pose challenges.
• North America led the antimicrobial preservatives market, while Asia Pacific exhibits significant growth potential.

Recent Developments:

• In June 2022, BASF introduced VerdessenceTM RiceTouch, a new biopolymer offering a smooth and powdery light skin feel, suitable for various personal care products.
• In August 2022, Brenntagexpanded its distribution agreement with ISCA and focuses on preservatives for the cosmetics industry, to several European markets.

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About Us:

SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company’s aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.