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INDIA FOOD PRESERVATIVES MARKET-GROWTH, TRENDS AND FORECAST (2015-2020)

Food additives are used to enhance the taste, texture, color while maintain the nutritional content in foods. Food preservatives are a growing segment in the food additives market as they are used to prevent spoilage and decomposition which takes place in food products due to microbial reactions. The Food preservatives market is expected to reach US $ 2.9 billion by 2020 with an estimated CAGR of 3.5%. After China, India holds a major share in the Asia pacific food processing industry and is a major exporter to Europe, the Middle East, Japan, Singapore, Thailand, Malaysia and Korea. The preservatives market is largely driven by demand for convenience and packaged foods by the burgeoning population and rising urbanization rates. However, the major constraint is the increased awareness on the ill effects of synthetic ingredients and growing consumer demand for fresh and natural foods. Companies are seeing this as an opportunity to innovate and provide solutions in the in the form of natural and functional ingredients. Food preservatives are classified as natural and chemical preservatives, with chemical preservatives currently accounting for a large market share. Preservatives are used in foods such as oil & fat, bakery & Confectionary, Fruits and Vegetables, dairy & frozen products, meat, poultry & seafood, savory snacks, and beverages. Asia pacific is the second largest market and the fastest growing segment due to growing preference for packaged and processed foods. In India, Sodium Benzoate pricing is driven by pricing of its core components: sodium hydroxide andbenzoic acid. The outbreak of global natural disasters has had a significantimpact on supply and demand for sodium hydroxide, driving prices to higher levels. The major players in the market are Brenntag, PuracBiochem, Cargill and Kerry group. The strategies used by companies is the increase in Research and Development expenditure to innovate products under the natural preservatives segment to meet the growing consumer preference. Key Deliverables in the Study • Market analysis for the Report title India food preservative market, with region specific assessments and competition analysis on global and regional scales. • Market definition along with the identification of key drivers and restraints. • Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale. • Extensively researched competitive landscape section with profiles of major companies along with their market shares. • Identification and analysis of the macro and micro factors that affect the Report title India food preservative market on both global and regional scales. • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. • A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market. • Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.

Published By: Mordor Intelligence
Published Date: Q1 2016

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