Market Research Report
Argentina Food Preservatives Market - Growth, Trends and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||389521|
|Published||Content info||80 Pages
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|Argentina Food Preservatives Market - Growth, Trends and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 80 Pages||
Argentina Food Preservatives market is projected to witness a CAGR of 4.20% during the forecast period (2020 - 2025).
Increasing Processed Food and Beverage Market
The food processing industry in Argentina is dynamic and growing, with new capital investments being made and growth expected, moreover, preservatives are being used to increase the shelf life of food and to maintain the quality for a longer time, which is expected to increase the share of preservatives in the country.
In order to aid sales of packaged food, at the beginning of 2019, the government launched a new national program titled Precios Esenciales, which translated to "essential prices". Initiatives like these are expected to increase the demand for food processing ingredients such as preservatives.
Increasing Indulgence Towards Speciality Ingredients
Argentina is a potential market for the specialty ingredients thus supporting the natural preservatives market in the country, greatly due to the economic growth and the shift of the preferences of the consumers toward healthy and value-added food. Better production technology, and access to distribution channels, are expected to be key factors in the near future to drive the market growth in Argentina. Expansion of the United States and other foreign players in the Argentine food processing sector may favor the applications of specialty food ingredients.
Moreover, tighter food safety regulations, adoption of ISO and Hazard Analysis and Critical Control Point ( HACCP) practices and new nutrition standards by the industry in the country, increase in certification and standardization of products, and expansion of organic production in the country are expected to increase the market for natural preservatives in the country.
Some of the major companies producing and importing food preservatives in Argentina are Celanese Corporation, Corbion NV, and Kerry Group plc. Some of the firms produce locally additives, preservatives, and/or flavorings. Importers bring from foreign countries products that are not manufactured locally or supplementary ingredients. In some cases, low-cost or bulk ingredients are imported when the domestic supply insufficient or the local price is too high, this is expected to increase the competition between the players operating in the Argentina Food Preservatives market. Most imports of the ingredients in the country are carried out by the producer, but there are also some direct importers in the market.