Plant Based Preservatives Market Size, Share Global Analysis Report, 2024 – 2032

Industry Insights

[211+ Pages Report] According to Facts and Factors, the global plant based preservatives market size was valued at USD 1,098.67 million in 2023 and is predicted to surpass USD 2,062.73 million by the end of 2032. The plant based preservatives industry is expected to grow by a CAGR of 7.25% between 2024 and 2032.

Market Overview

Plant-based preservatives are plant-derived compounds used to extend the shelf life of products by inhibiting some microorganisms. These preservatives help prevent the degradation of food and personal care products. Plant-based preservatives that are largely used in the market include citrus extracts, essential oils, herbs & spices, vinegar, plant extract, and many others. These preservatives are eco-friendly and sustainable, thereby causing the least harm to the environment.

Key Insights

• As per the analysis shared by our research analyst, the global plant based preservatives market size is estimated to grow annually at a CAGR of around 7.25% over the forecast period (2024-2032).
• In terms of revenue, the global plant based preservatives market size was valued at around USD 1,098.67 million in 2023 and is projected to reach USD 2,062.73 million by 2032.
• High demand for natural products is driving the growth of the global plant based preservatives market.
• Based on the applications, the meat & poultry segment is growing at a high rate and is projected to dominate the global market.
• Based on the sources, the herbs & spices segment is projected to swipe the largest market share.
• Based on the functions, the antimicrobial segment is expected to dominate the global market.
• Based on region, North America is expected to dominate the global market during the forecast period.

Growth Drivers

• High demand for natural products is likely to drive the growth of the global market.

People globally are inclining more towards food products with natural ingredients like plant-based preservatives. People pose a high demand for clean-label food products, thereby focusing more on transparent ingredient lists. Additionally, the growing awareness among people regarding the health benefits of plant-based preservatives is also expected to influence the market positively.

Growing environmental awareness is also leading people to adopt eco-friendly and sustainable plant-based food products. Therefore, all these factors are expected to positively impact the growth trajectory of the global plant based preservatives market during the forecast period. For instance, Ajinomoto Bio-Pharma Services successfully took over 50% of ownership in Granules OmniChem Private Limited (GOC) in 2019.

Restraints

• High cost is expected to hamper the growth of the global market.

Plant-based preservatives are quite expensive as compared to traditional synthetic preservatives, which deter sensitive consumers. However, the lack of availability of raw materials, along with their cost, also impacts the production cost. Therefore, this cost factor is expected to hinder the growth of the global plant based preservatives market during the forecast period.

Opportunities

• Innovation and product development are expected to foster growth opportunities in the global market.

Companies are investing heavily in research and development activities to come up with unique plant-based preservatives with advanced preservation properties to swipe a larger area in the plant based preservatives industry. Furthermore, the development of processing techniques and innovation formulations is also likely to contribute heavily towards the growth of the industry.

However, the market is witnessing increasing collaborations with research institutions and companies to drive innovation in the market. For instance, San Fang Chemical Industry Co Ltd said to invest USD 300 million for the construction of a green preservative plant in Vietnam. The unit holds a production capacity of 2 million square meters, which is expected to be finished by the end of 2024.

Challenges

• Limited shelf life is a big challenge in the global market.

Some plant-based preservatives have shorter life spans than synthetic preservatives, which is a big challenge in the plant based preservatives industry. However, the supply chain disruption is also expected to negatively impact the growth of the industry.

Segmentation Analysis

The global plant based preservatives market can be segmented into applications, sources, functions, and regions.

On the basis of applications, the market can be segmented into fruits & vegetables, beverages, snacks, dairy products, bakery products, meat & poultry, seafood, and others. The meat & poultry segment accounts for the largest share of the plant based preservatives industry. The use of preservatives in meat and poultry products to extend the shelf life is very common all across the globe due to their perishable nature. Preservatives prevent the spoilage of these products for a long time.

However, the growing shift in consumer preferences towards the minimally processed and more clean ingredients is one of the major reasons propelling the growth of the segment. Preservatives prevent unnecessary bacterial growth on the food product and thereby inhibit oxidation to maintain the freshness of poultry products. These preservatives are largely used in the processed and packaged meat product industry.

However, the growing demand for plant-based preservatives in the meat industry is highly influenced by various factors like regulatory considerations and people's demand for sustainable products.

On the basis of sources, the market can be segmented into fruit juices and herbs & spices. The herbs & spices segment is likely to dominate the global plant based preservatives market. Herbs and spices hold natural antimicrobial properties that lead to the growth of microorganisms in the products.

Therefore, it helps in extending the shelf life of the products by preventing oxidation. The emerging trend of clean-label food products with natural ingredients is expected to foster the growth of the segment in the forthcoming years. Additionally, herbs and spices also enhance the flavor of food products. Also, the potential health benefits of some herbs and spices are also likely to expedite the growth of the segment.

On the basis of functions, the market can be segmented into antioxidants, plant-based preservatives, antimicrobial plant-based preservatives, and others. The antimicrobial plant-based preservative is the fastest-growing segment in the plant based preservatives industry during the anticipated period. Consumers are becoming more health conscious and therefore driving more demand for antimicrobial plant compounds in the market.

Also, the growing demand for clean-label, minimally processed food products is also supporting the growth of the segment. Antimicrobial plant-based preservatives are free from artificial additives and largely aligned with this emerging trend. Moreover, the regulatory framework for food and safety also emphasizes using fewer synthetic preservatives, which is also a big reason for the high growth rate of the segment.

Report Scope

Regional Analysis

• North America to dominate the global market

North America is expected to see developments in the global plant based preservatives market in the forthcoming years. Growing consumer demand for natural products in the region is one of the primary reasons for the high growth rate of the market. People are more inclined towards natural and clean products, which is driving high demand for vegan alternatives to synthetic preservatives.

Moreover, the growing consciousness regarding the health and wellness benefits of plant-based preservatives as compared to synthetic ones is also encouraging people to look forward to natural and healthier alternatives. Clean-label products are gaining more traction because of their transparent ingredient lists.

The region is witnessing high demand for minimally processed food products, which include plant-based preservatives. Also, brands are investing heavily in their research and development activities to come up with unique and advanced plant-based preservative formulations.

However, the emerging concerns regarding environmental sustainability are a big factor expected to influence consumer choices in the future. As a result, plant-based preservatives are expected to witness high demand because of their eco-friendly and sustainable nature. All these factors are together expected to foster huge developments in the regional market in the coming years.

Asia Pacific is also likely to see many developments in the plant based preservatives industry during the anticipated period. The region has traditional cuisines that incorporate a wide range of herbs and spices for various purposes, such as preservation. This cultural background is expected to positively impact the growth trajectory of the regional market in the coming years.

However, the rising awareness regarding the side effects of synthetic additives is also driving the demand for natural preservatives in the food and beverages sector. Additionally, the regulatory frameworks regarding the preservatives and food additives in the region are also expected to support the growth of the regional market.

Urbanization and fast economic growth of the regional market are other major reasons expected to positively influence the market in Asia Pacific countries. Moreover, the local ingredient availability in the region is a primary reason for the high growth rate of the market.

Such a landscape is likely to positively influence the plant based preservatives industry during the anticipated period. For instance, IFF entered into the agreement for the merger of Dupont’s nutrition & biosciences business in February 2021 to continue its work under the IFF brand name.

Competitive Analysis

The key players in the global plant based preservatives market include:

• Tate & Lyle
• Ajinomoto Omnichem
• Cargill Incorporated
• Kemin Industries Inc.
• Archers Daniels Midland Company
• Univar Inc.
• Dupont Nutrition & Health
• Hawkins Watt Limited

For instance, Nissha Co. and Kuraray Co. partnered with each other to come up with a new product for sale named CLARINO in 2022. Companies decided to innovate Material Insert Technology with the help of green preservatives.

The global plant based preservatives market is segmented as follows:

By Applications Segment Analysis

• Fruits & Vegetables
• Beverages
• Snacks
• Dairy Products
• Bakery Products
• Meat & Poultry
• Seafood
• Others

By Sources Segment Analysis

• Fruit Juices
• Herbs & Spices

By Functions Segment Analysis

• Antioxidants
• Plant-Based Preservatives
• Antimicrobial Plant-Based Preservatives
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America