Market Research Report
North America Food Preservatives Market-Growth, Trends and Forecast (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||389504|
|Published||Content info||90 Pages
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|North America Food Preservatives Market-Growth, Trends and Forecast (2020 - 2025)|
|Published: June 1, 2020||Content info: 90 Pages||
North America Food Preservatives Market is projected to grow at a CAGR of 2.6% during the forecast period (2020-2025).
Increased Popularity of Clean-Label Ingredients
Clean label is a spectrum, and manufacturers seek to know where the shifts are happening. Transparency and clean label are not point-in-time fads anymore and have gone mainstream. This has resulted in competition for consumers seeking clarity, purity, and responsibility, and the trend is likely to continue to increase. Clean label demand is driving new product innovation in the country. Foods generally sold in the United States are, 'clean,' i.e., safe for consumption despite labeling not always being 100% 'truthful and not misleading'. Yet, a number of trends have emerged in conjunction with the clean label movement as opportunities for food makers to connect and resonate with their target audience. US consumers do not refrain from paying high prices for clean label ingredients, ingredients that are natural and healthy. Around 44% claim to pay 75% or more extra for ingredients they recognize and trust.
Increased Application in Beverage Industry
The booming beverage industry is majorly uplifting the consumption of ingredients including preservatives which is most likely to foster market growth. The use of preservatives in the beverage industry is to avoid the change in taste, the colour of the drinks, and bitter aftertaste. As soft drinks are high in the water activity and some of them are rich in vitamins and minerals, they are an attractive environment for microbes. The usually low pH of the soft drinks, carbonation, sugar content in some of them, and the addition of preservatives help to inhibit the growth of microbes and bacteria. The type of chemical preservatives that can be used in beverages depends on the chemical and physical properties of both the antimicrobial preservatives and the beverage type.
The North American food preservatives market is highly fragmented and dominated by several small players. The most active companies are Cargill, DuPont, Kerry Inc. and Koninklijke DSM N.V among others. These players have a strong position in the fast-growth natural preservatives and clean label categories, benefiting from greater usage of these preservatives in food and beverages generally. The strategy of developing new products and partnerships with local players helps to increase the company's footprint in the foreign country and release new products according to the consumers' changing preferences.