Global Food Preservatives market overview 2024, Forecast To 2033

The food preservatives market has maintained steady growth, growing from $2.81 billion in 2023 to $2.94 billion in 2024, reflecting a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period is attributed to increased consumer demand for processed and convenience foods, the need for food shelf-life extension and preservation, global growth in the food and beverage industry, concerns about food safety and spoilage prevention, regulatory approval, and the safe usage of food preservatives, as well as the demand for natural and clean label food preservation solutions. Anticipating steady growth in the next few years, the market size is projected to reach $3.58 billion in 2028, supported by a consistent CAGR of 5.0%. Growth in the forecast period is attributed to the adoption of plant-based and naturally derived preservatives, emphasis on eco-friendly and sustainable preservative ingredients, research and development in next-generation preservative technologies, demand for preservatives in organic and natural food products, the expansion of preservative applications in meat and poultry processing, and growing interest in combination preservative systems for enhanced efficacy. Major trends in the forecast period include natural antimicrobial extracts, antioxidant preservatives, plant-derived essential oils, combination preservative systems, and emerging technologies like pulsed electric fields (PEF), nanotechnology in food preservation.