Market Research Report
Canada Food Preservatives Market Growth, Trends and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||389506|
|Published||Content info||70 Pages
Delivery time: 2-3 business days
|Canada Food Preservatives Market Growth, Trends and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 70 Pages||
The Canada Food Preservatives market is projected to witness a CAGR of 4.32% during the forecast period (2020 - 2025).
Strategic Investment Towards Specility Ingredients
In Canada, the shift in the needs and wants of the consumers is challenging the food ingredient ability to measure the market conditions, innovation, and development of new products. However, consumers of the country highly trust Canadian specialty ingredients such as preservatives. In May 2019, According to the Canadian Food Inspection Agency, consumers use labels on food products seeking to buy foods sourced from Canada, including the Canadian ingredients in a product and if it was manufactured in Canada.
The Canadian specialty food ingredient market has a stronghold in the global market. Improvements in the economy and favorable shifts in consumer preferences have boosted the specialty food ingredients market revenue over the last five years, thus pushing the preservative market forward too. Canada will witness growth in demand for specialty preservatives as the Canadian government introduced several new labeling measures in December 2016 and is considering front-of-package labeling requirements for foods high in sodium, sugars, and saturated fats.
Increasing Processed Food and Beverage Market
The food and beverage processing industry is the second largest manufacturing industry in Canada in terms of the value of production with shipments worth USD 105.5 billion in 2014; it accounts for 17% of total manufacturing shipments and for 2% of the national Gross Domestic Product (GDP), ads per the data provided by the Government of Canada. Moreover, from the last few and also during the forecast period, a lot of expat population has and will settle in the country, thus increasing the application ingredients like preservatives in the country.
Changing demands from health-conscious consumers has led to the resurgence of artisanal, unpackaged, and fresh items in the bakery industry, which is expected to increase the application of preservatives in these processed bakery products manufactured in the country. Wider product ranges have also been developed with specialty foods such as gluten-free options, flatbread, whole grain, added fiber, and ethnically diverse offerings, thus driving the demands of these food products further.
Some of the major players operating in the Canada food preservatives market are Celanese Corporation, Corbion NV, Kerry Inc., and Koninklijke DSM N.V. Most of the preservatives and other ingredients needs in the country are fulfilled and sold by the renowned distributers such as Quadra Chemicals and Caldic B.V.