ITALY 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 global Food preservatives market is expected to reach US $ 2.9 billion by 2020 with an estimated CAGR of 3.5%. With the region coming out from the euro zone crisis, the food industry is growing at a positive growth rate and this is expected to boost the demand for processed foods and there in the preservatives market. Europe is the third largest market for food preservatives after North America and Asia pacific. 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. The regulation of preservatives in the European community requires the labeling laws to declare the presence of preservatives. Safety evaluation is carried out by the Scientific Committee for Food; and the technological effectiveness is assessed by governments of Member States.In the European Union (EU) all food additives are identified by an E number.Italy is the only producer in the world that can market a semi-dried pear that meets the sulphite preservative’s residue level. 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. The region of Germany requires preserved foodstuffs sold in packages to be labeled as ‘chemically preserved’. The major players in the market are Celanese, DuPont Nutrition & Health, PURAC Biochem B.V., Kerry Group, and Royal DSM in the European food & beverage preservative market.The strategies used by companies are 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 Italy 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 Italy 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.