The preservation of food is one of the oldest technologies known to man. Preservatives have successfully augmented and made food available for extended periods. Sugar and salt have been used from time immemorial to preserve food products. They are classical examples of natural food preservatives. Preservatives have, nowadays, become an indispensable part of the almost every processed food consumed, worldwide. They are the class of food additives (natural or chemical compounds) that are added to food products to restrict the growth of spoilage-causing microbes and to prevent any undesirable Food trading alterations in the organoleptic profile of foods. They, thereby, lengthen the keeping quality and shelf-life of food products. Food trade is getting increasingly globalized with consumers demanding all-round availability of seasonal and perishable foods. The global market for food preservatives is driven by the increasing demand for convenient foods and high standards of food safety and quality. The Global Food Preservative Market is expected reach USD 3001.4 million by 2023, at an estimated CAGR of 2.7% during the next five years (2018-2023), according to the Hyderabad-based market intelligence firm.
Expansion of Processed Food industry:
With the advent of refrigeration technology, food transportation became a viable trade, thereby providing the much-needed fillip to the growth of the processed food industry. Processed foods are increasingly perceived as the preferred choice of consumers in the backdrop of rapidly evolving marketplace. Modern consumers are devoid of enough time, owing to their hectic lifestyles, which is an outcome of dynamic economic development. Consumers are, thus, opting for processed food products that are safe, affordable and convenient. They are indispensably incorporated in processed food products to cater to the increasing demand for safety, higher quality, and sustainability.