The South America food preservatives market size was valued at USD 0.43 Billion in 2021 and is projected to expand at a substantial CAGR during the forecast period. Growth of the market is attributed to rising demand for packaged foods.
South America is a developing market with enormous potential and rapid growth rates. ?Growth of the market is primarily driven by diet and flavor convergence, rising per capita income in emerging economies, increasing urbanization, and rising consumer preference for processed foods. Global demand for these products is increasing due to a variety of factors such as changing customer lifestyle, increasing imports and exports, changing consumer preference for fresh products, and increasing consumer willingness to pay a premium price.
The COVID-19 pandemic affected the demand and supply of South America food preservatives market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Changing people’s life style is projected to drive the market.
- Increasing demand for processed food has in turned fueled the market.
- Strict government rules are estimated to hinder the market growth.
- Development of natural food preservatives is anticipated to create immense opportunities for the market players.
Scope of the Report
The report on the South America food preservatives market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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South America Food Preservatives Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2021
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Historic Data
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2019–2020
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Forecast Period
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2021–2028
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Segmentation
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Types (Natural and Synthetic), Applications (Beverage, Dairy & Frozen Product, Bakery, Meat, Poultry & Seafood, Confectionery, Sauces & Salad Mixes, and Others)
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Regional Scope
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Brazil, Columbia, and Rest of South America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Kerry Inc.; DSM; DuPont; and BASF SE
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Market Segment Insights
The synthetic segment holds a major market share
Based on types, the South America food preservatives market is segregated into natural and synthetic. The synthetic segment is projected to expand at a substantial CAGR during forecast period. Depending on the target food-spoiling agent, all natural and chemical/synthetic preservation additives can be broadly classified as antimicrobials, antioxidants, and chelators.
Chemical preservatives are expected to account for a major share of the market due to their low cost, diverse functionalities, and abundance; however, growing consumer resistance and effects on human health are among the major reasons driving natural preservatives segment.
The meat segment is anticipated to expand during the forecast period
On the basis of applications, the South America food preservatives market is segregated into beverage, dairy & frozen product, bakery, meat, poultry & seafood, confectionery, sauces & salad mixes, and others. The meat segment held the major market share of 32.6 percent in 2016. Globally, the processed meat, poultry, and seafood industries are expanding at a rapid pace, which is expected to drive demand during the forecast period.
The market in Brazil is projected to hold a major market share
In terms of geography, the South America food preservatives market is classified as Brazil, Columbia, and Rest of South America. Brazil is anticipated to dominate the market. Furthermore, high employment rates and the increasing presence of women in the workplace encouraged Brazilians to consume more processed foods on a daily basis. Major manufacturers are expected to respond by developing more targeted fortified/functional products with safe preservatives. This has a knock-on effect on the country's market.
Segments
Segments Covered in the Report
The South America food preservatives market is segmented on the basis of
Types
End-users
- Beverage
- Dairy & Frozen Product
- Bakery
- Meat
- Poultry & Seafood
- Confectionery
- Sauces and Salad Mixes
- Others
Regions
- Brazil
- Columbia
- Rest of South America
Key Players
Competitive Landscape
Major players competing in the South America food preservatives market include Kerry Inc., DSM, DuPont, and BASF SE.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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