The Green Preservatives Market Size was valued at USD 1.25 Bn in 2023 and is predicted to reach USD 2.06 Bn by 2031 at a 6.68% CAGR during the forecast period for 2024-2031.
Green preservatives are produced using plants, essential oils, minerals, and other natural elements. Hence, the adoption of green preservatives is expected to increase in the near future as concerns grow over eco-consciousness, perceived safety, and association with consumer preferences for natural, ecological products. Increasing adoption of eco-friendly alternatives to synthetic preservatives safe, organic, and clean label products is expected to drive the growth of the global green preservatives market. Manufacturers use green preservatives to fulfil consumer demands with more natural ingredients, boosting their adoption in various industries such as personal care, food & beverages, pharmaceuticals, and food packaging. These are other factors expected to augment the target market growth. The increasing adoption of organic and clean-label products globally will boost market expansion in the coming years.
However, the high cost of green preservatives and availability of synthetic Preservatives, coupled with the COVID-19 outbreak, may limit the target market's growth during the forecast period. Furthermore, increasing R&D activities, government initiatives to use sustainable components for production, and investments by prominent players are expected to create lucrative growth opportunities in revenue for players operating in the global green preservatives market over the forecast period.
Competitive Landscape
Some of the Major Key Players in the Green Preservatives Market are
- Kerry Group plc.
- Kemin Industries, Inc.
- Corbion
- LANXESS
- Ashland
- International Flavors & Fragrances Inc.
- Dow
- dsm-firmenich
- Symrise
- Givaudan
- CLARIANT
- BASF SE
- Croda International Plc
- Evonik Industries AG
- Lonza
- Others
Market Segmentation:
The green preservatives market is segmented by application and type. Based on application, the market is segmented into food and beverages, pharmaceuticals, cosmetics, the cleaning industry, and others. By type, the market is segmented into natural preservatives, essential oil, organic acid, synthetic, and others.
Based on Application, the Food and Beverages Segment is Accounted as a Major Contributor in the Green Preservatives Market
The food and beverages segment is expected to hold a major share of the global green preservatives market in 2023. This is attributed to the growing usage of natural and organic products, mostly in the food and beverage market, and the rising awareness of people about their health, which is anticipated to increase market growth. Additionally, the rising use of preservatives in food and beverage products is often influenced by the changing standards and regulatory environment within the sector.
Natural Preservatives Segment Witnessed Growth at a Rapid Rate
The natural preservative segment is projected to increase in the global green preservatives market owing to growing concerns about synthetic preservatives' harmful effects on health. Hence, the growing popularity of natural preservatives is highly influenced by their effectiveness in preserving product quality and product safety, and also there is an increase in demand for green preservatives in the packaging industry, especially in countries such as the US, Germany, UK, China, and India.
In the Region, the North America Green Preservatives Market Holds a Significant Revenue Share.
The North American green preservatives market is expected to register the highest market share in terms of revenue in the near future. This can be attributed to the strong focus on the environment in the region, with the increasing adoption of green preservatives in different industries, including food & beverages, personal care, packaging, and others. In addition, the region's chemical industry is focusing on producing green preservatives to develop sustainable and environmentally friendly solutions. Growing demand for green products across sectors and widespread adoption of green preservatives in the production of intermediate Preservatives in the region are factors increasing the growth of the target market in the region. In addition, Asia Pacific is projected to grow rapidly in the global green preservatives market due to growing environmental concerns, rapid health consciousness, government initiatives, and increasing funding in various industries.
Recent Developments:
- In July 2023, a Texas-based organization called BioVeritas created a clean-label mold inhibitor by using a patented fermentation and up-cycling method. It has been demonstrated that the inhibitor, which is made from recycled biomass, is just as successful at maintaining the taste and texture of baked goods as conventional additives based on petro Preservatives. With an eye toward the North American baked products market, the company intends to open its first commercial plant in 2026 and is currently pursuing GRAS status. Additionally, BioVertitas is working with international ingredient and food producers and is investing in uses for its ingredients in processed meat and food.
Green Preservatives Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 1.25 Bn |
|
Revenue Forecast In 2031 |
USD 2.06 Bn |
|
Growth Rate CAGR |
CAGR of 6.68% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Type, By Application and By Region |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Kerry Group plc., Kemin Industries, Inc., Corbion, LANXESS, Ashland, International Flavors & Fragrances Inc., Dow, dsm-firmenich, Symrise, Givaudan, CLARIANT, BASF SE, Croda International Plc, Evonik Industries AG, Lonza, and Others |
|
Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
