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Organized retailers stocking ready-to-eat eco-friendly products

Although natural feed preservatives such as salt have been used for centuries, the chemical feed preservatives market came into its own with increasing urbanization in emerging economies, coupled with a preference for ready-to-eat products. Chemical feed preservatives go a long way in prolonging the shelf life of food. Food preservatives find ready application in dairy products, seafood, meat, snacks, and even beverages. Furthermore, the complexity of the global supply chain has increased manifold and there is a notable preference for eco-friendly, clean label products across customer demographics. The decisive shift towards organized retail underway in emerging economies is also anticipated to accelerate demand for chemical feed preservatives.

Less harmful or less costly – must choice always remain a Morton’s fork?

Two key constraints pose long-term challenges to the growth of the feed preservatives market – cost and health concerns. Natural feed preservatives are less harmful, but customers must be prepared to shell out more. Inversely, synthetic feed preservatives cost less, but are notably more harmful when consumed. Saccharin leads to toxic reactions directly impacting the heart and gastrointestinal tract, while side-effects of Benzoates are diarrhea and nausea. Butylated hydroxytoluene and Butylated hydroxyanisole have even been reported as causing hyperactivity, cancer, and neurological damage, giving customers cause for concern in the feed preservatives market. A few commonly used synthetic feed preservatives comprise propionates, benzoates, and nitrites. They are often used in a combination to improve efficiency with propionates gaining gradual acceptance on account of their higher permissible limit. Nonetheless, some concerns linger for customers and it will take some time for them to be fully dispelled – if they can be.

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Beverage industry drowns the competition

Feed preservatives can be subdivided into non-toxic and moderately toxic preservatives with the latter under strict supervision by regulatory authorities such as the FDA and European Food Safety Authority (EFSA). On the basis of function, the feed preservative market primarily consists of antioxidants and antimicrobials. Feed preservatives are especially used in the beverage, sweet & confectionary, oil & fat, dairy, poultry, and seafood industries. The beverage industry is the one to look out for as beverages demand extensive use of feed preservatives to prevent undesired changes in taste or color. Manufacturers are catering to the demand for functional beverages by incorporating organically sourced feed preservatives. 

Global Feed Preservative Market Players are: Kemin Industries Inc. (U.S.), Nutreco N.V. (Netherlands), Impextraco NV (Belgium), Biomin Holding GmbH (Austria), Perstorp Holding AB (Sweden)

North America currently the most exciting region – can APAC steal its crown?

As a continent at the vanguard of rapid industrialization, North America holds a significant share of the global feed preservatives market. In addition, the US and Canada are large exporters of fresh fruit, fueling the demand for feed preservatives. There is also a heightened awareness about the pitfalls of chemical feed preservatives amongst consumers there, resulting in a booming market for natural alternatives. Last but not the least, North America has extremely stringent regulations with respect to food ingredients, compelling feed preservative manufacturers to adopt an ‘innovate or die’ approach. In the long run, the APAC feed preservative market could steal the limelight as China and India become urbanized nations with populations that rely heavily on ready-to-eat foodstuffs, similar to their counterparts in developed markets.

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Small fish swim in a big pond – room for all in the feed preservative market

Intense competition means that no single player dominates the global feed preservative market. The biggest fish in the large ocean are DuPont, Cargill, BASF, and Corbion and they are especially strong in the natural feed and clean label categories. The fragmented nature of the feed preservatives market allows newer and smaller rivals such as Galactic S.A. and Kemin Industries Inc. to introduce new products and challenge the big boys. These upstarts have differentiated themselves by using rosemary extracts and vinegar options to entice customers looking for a healthier option. There have also been numerous collaborations and mergers between companies in the feed preservatives market to consolidate their presence and bolster market share.

No COVID-19 concern in the global feed preservative market

In a recent statement, the International Food Additives Council (IFAC) stated that the quality and safety of the global food supply chain remains strong, COVID-19 outbreak notwithstanding. They also made clear that preservatives will continue to play a vital role in ensuring the quality of food. Although there have been isolated reports of food shortages, these are attributed to restocking and logistical issues, along with panic buying that was witnessed early on in the pandemic. Both the EFSA and FDA have not found evidence of COVID-19 transmission through food packaging. Thus, it is safe to assume that the feed preservative market is highly unlikely to be impacted by COVID-19 and the future growth prospects only point in an upward direction.

KEY QUESTIONS ANSWERED IN THE REPORT

  • What is the market size and growth rate of the global and regional markets by various segments?
  • What is the market size and growth rate of the market for selective countries?
  • Which region or sub-segment is expected to drive the market during the forecast period?
  • What factors are anticipated to impact demand and supply trends in the market during the forecast period? 
  • What factors are likely to drive market revenue growth during the forecast period?
  • What are the key technology and other trends shaping the market?
  • What are the key opportunities in the market?
  • What are some of the strategies implemented by key companies operating in the market?
  • What is the COVID-19 impact on the market?

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