The Latin America, Middle East and Africa Food Preservatives Market would witness market growth of 7.0% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 20,956.0 Kilo Tonnes, showcasing a growth of 8.2% (2023-2030).
One of the primary applications of food preservatives is extending the shelf life of perishable products. Preservatives act as guardians against microbial contamination, oxidative processes, and enzymatic reactions contributing to spoilage. In dairy products, meats, and bakery items, preservatives play a pivotal role in maintaining the freshness and edibility of these goods throughout their journey from production to consumption.
Furthermore, the delicate flavors and textures of many dairy items can deteriorate over time. Preservatives help maintain the intended taste and consistency of products, ensuring that consumers experience the freshness and quality intended by the manufacturer. Dairy products often have a limited shelf life, and preservatives contribute to extending this period. This is crucial for minimizing waste and ensuring that consumers can access fresh and safe dairy items for an extended duration.
The rich cultural diversity in LAMEA countries contributes to a vibrant and diverse food scene. The food service sector often capitalizes on this diversity, offering various cuisines. Preservatives help ensure the safety and quality of products as they are transported over longer distances and encounter varied environmental conditions. As per the data from the Government of South Africa, measured in real terms (constant 2019 prices), total income generated by the food and beverages industry increased by 7.1% in June 2023 compared with June 2022. Thus, growing food and beverage processing and food service sectors in LAMEA will help in the growth of the regional market.
The Brazil market dominated the LAMEA Food Preservatives Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $102.4 million by 2030. The Argentina market is showcasing a CAGR of 7.6% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 6.7% during (2023 - 2030).
Based on Function, the market is segmented into Anti-microbial, Anti-oxidant, and Others. Based on Type, the market is segmented into Natural (Edible Oil, Rosemary Extracts, Natamycin, Vinegar, Others), and Synthetic (Sorbates, Benzoates, Propionates, Others). Based on Application, the market is segmented into Meat & Poultry Product, Bakery Products, Dairy Product, Beverages, Snacks, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Food Preservatives Market is Projected to reach USD 4.1 Billion by 2030, at a CAGR of 5.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Archer Daniels Midland Company, Cargill, Incorporated, Kerry Group, Plc., Akzo Nobel N.V., Kemin Industries, Inc., Univar Solutions, Inc., Koninklijke DSM N.V., Tate & Lyle Plc., BASF SE, Celanese Corporation.
By Function (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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