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Insight

Is Food Preservatives Vital in Packaged Food?

5 October 2021 by Mordor Intelligence

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Impact of COVID Turmoil in Silver-lining the Demand of the Market

–  The COVID-19 pandemic has led to a spike in sales of retail and long-shelf products across the global food preservatives market. This instance spurred people to stockpile groceries and packaged food products for their households, which positively impacted the industrial demand for food preservatives.

–  Bakery, frozen foods, and snacks are the major application segments vouched for an elongated demand during the pandemic.

Which are those Enabling Factors for the Global Food Preservatives Market?

–  Increasing demand for clean label solutions, rising consumption of processed and packaged food, and the complexity of the supply chain in the food industry.

–  Rising penetration in the organized retail sector, especially in the emerging markets.

–  In recent years, an inrush observed in the consumer demand for Ready-to-Eat (RTE) meals created equal opportunities for food preservative manufacturers.

Functional Preservatives are Rolling the Trend

–  The rise in demand for functional beverages amplified the growth of natural preservatives market.

–  Manufacturers are embracing innovation to gain a market position by incorporating organically sourced preservatives in the product formulation.

Competitor’s Outlook

–  The companies, as a part of their strategy, are spending significant amounts in developing techniques to produce preservatives using more natural ingredients rather than synthetic inputs.

–  The strategy of developing new products and partnerships with local players helps increase the company’s footprint in the foreign country and release new products according to the consumers’ changing preferences.

This insight was contributed by knowledge partner:

 

 

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