The global food preservatives market is projected to exhibit a significant growth, at a CAGR of around 3.4%, during the forecast period. Shifting trend towards fast lifestyle is imposing the need of food items which can be prepared instantly. A prevalent factor for the rising demand for convenience food are relative food prices, time constraints, and changing demographic trends. Convenience food products generally includes frozen pizza, packaged chips, and canned vegetables, among others. Convenience food is preferred mainly by adult population across the globe. Declining prices for processed food are generating the rise in demand for convenience food among adults. With these factors, the demand for convenience food is continuously growing, which in turn, is offering growth to the food preservatives market.
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Food is the daily requirement of the human which creates the constant demand for better consumable products. This demand is encouraging the industry players to come up with new food products. The demand has increased substantially for convenience food due to changing lifestyle and dearth of time among the people. Growing per capita income is also supporting the new product launches in the food and beverages industry. Modernization of the product flow channels in the food and beverage industry is changing the consuming patterns. For instance, easy availability of new products at supermarkets and in the e-commerce, platforms have increased the product consumption and demand for new product launch.
Advertisement is also one of the propelling forces behind the convenience food growth. Meal and snacks service providers are changing their service pattern by adopting advertisement services to generate additional source of income. The market demand for convenience food is being supported by amalgamation of fast internet in the form of online delivery services for the consumers. In the US, sit down services at the restaurants are declining with the emergence of online delivery of meals including convenience food. With rapid growth in world population the demand for convenience food is estimated to add up to the convenience food industry, and in turn, in the food preservatives market.
Moreover, the demand for convenience food is mounting the need for the development of convenience stores for food. According the National Association of Convenience Store, there are around one million convenience stores across the globe. The US has 152,720 stores which marks the revenue of about $650 billion in total sales. Convenience food is partially, or fully prepared food catered by food providers rather than home. Convenience food impose the demand on food preparing companies include ingredients that can extend the shelf-life if the product, which in turn, enhances the growth of the global food preservatives market.
Global Food Preservatives Market-Segmentation
By Type
By Application
Global Food Preservatives Market– Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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