US FOOD PRESERVATIVES MARKET-GROWTH, TRENDS AND FORECAST (2015-2020)
Preservatives are a key part of most food products today, due to the time it takes for the product to reach from factory to consumer homes, thus traveling through a long chain of distributing agents and stockists. This drives the demand for food preservatives market to provide an increased shelf life for products. North America held the largest market share in 2013 and is expected to remain as the market leader in 2020. North America recorded largest market size of USD 781 million in 2015 and is expected to reach USD 920 million by 2020. High demand for packaged and processed foods is driving the market of preservatives in North America. For major fruit producers North America has an export share of 32%, thereby increasing the demand for preservatives. However, there is growing consumer preference for natural preservatives due to the risks associated with chemical preservatives. Another restrain comes in the form of complex US regulatory process, which makes it difficult for producers to register new innovative preservatives in the market. The market is segmented as natural and chemical preservatives, with the natural preservatives seeing a growing trend due to antioxidants and microbial preservatives. The major players in the market are Brenntag, PuracBiochem, Cargill and Kerry group. 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 US 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 US 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.