Growing Green: Preservatives Market Projected at $1.5 Billion by 2028
The report "Green Preservatives Market by Type (Natural preservative, Organic Acid, Essential Oil), End-use Industry (Food & beverage, Personal Care & Cosmetic, Industrial Cleaning, Household Cleaning, Pharmaceutical), and Region - Global Forecast to 2028", size was USD 1.1 billion in 2023 to USD 1.5 billion by 2028, at a CAGR of 7.1% from 2023 to 2028.
Green Preservatives, commonly referred to as natural preservatives, are made mostly of natural sources that are used to prolong product shelf life while reducing the need for art ificial or chemical preservatives. They are better for the environment and safer. Green preservatives are in high demand due to customer preferences shifting towards natural and clean-label products as well as rising knowledge of the possible health and environmental dangers linked to synthetic preservatives. Green preservatives are used in various industries such as food & beverage, personal care & cosmetic, cleaning industry (household cleaning & industrial cleaning), pharmaceutical, and others (agriculture, horticulture, water treatment, and textiles).
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“Natural preservative segment is estimated to be the fastest-growing type for green preservatives market during the forecast period 2023 to 2028.
The green preservatives market is projected to be experiencing significant growth in the forecasted period. The natural preservative segment is estimated to be the fastest-growing segment in the green preservatives market due to the emergence of novel natural preservatives and advances in green technology. The effectiveness and durability of natural preservatives have increased due to continued research and technical developments, increasing their suitability for a wider range of applications. As sustainability becomes a key component of both consumer preferences and business goals, the natural preservative segment is anticipated to maintain its growth trajectory. As continued research and development, it is expected that this industry will become even more cutting-edge, providing a greater range of superior, eco-friendly substitutes for conventional synthetic preservatives.
“Food & beverage segment is estimated to be the largest application in green preservatives market in 2022, in terms of value.”
The food & beverage segment is estimated to be the largest application in green preservatives market in the forecasted year due to several factors. The dominance of the food & beverage segment in the green preservatives market is driven by a combination of increased consumer demand, environmental sustainability, and other factors. Green preservatives are being used more often in the food and beverage industry to preserve product quality and freshness without compromising the safety. These green preservatives prolong the shelf life of food and beverage goods by inhibiting oxidation, microbiological growth, and spoilage of food. The green preservatives market in the food & beverage segment is projected to rise in the forecast year.
“North America was the largest region for the green preservatives market in 2022, in terms of value.”
The North America region's prominence as the largest market for green preservatives can be attributed to a convergence of economic, industrial, and cultural factors. The market dominance of North America in the green preservatives market can be attributed to the existence of key players who have made a solid regional footprint. These players, with their vast R&D departments, strong distribution networks, and strategic collaborations, have been essential in propelling the adoption of green preservatives. This combination of economic growth, industrial competence, and consumer preferences has firmly established North America as the largest market for green preservatives.
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Key Players
The key market players identified in the report are Kerry Group (Ireland), Kemin Industries, Inc. (US), Corbion N.V. (Netherlands), LANXESS AG (Germany), BASF SE (Germany), International Flavors & Fragrances Inc. (US), Dow Inc. (US), DSM-Firmenich AG (Netherlands), Symrise AG (Germany), Givaudan SA (Switzerland), and Clariant AG (Switzerland) and others.
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