Scienza e Tecnologia
Preservatives Market Size Worth $8.12 Billion By 2028 | CAGR 5.1%: Grand View Research, Inc.
Thus, with the increasing consumption of processed foods, such as meats and snacks, along with various types of beverages, the antioxidants market is expected to witness significant growth during the forecast period. Increasing incidences of animal feed damages owing to fungal and bacterial contamination are expected to drive the demand for feed preservatives globally. In addition, according to the International Feed Industry Federation, feed prepared without the addition of preservatives has shown harmful effects on all classes of animals owing to the production of mycotoxins. This has benefitted the demand for preservatives for application in the feed industry.
The regional governments in countries of Asia Pacific , including China and India , are providing incentives, flexible Foreign Direct Investment (FDI) policy measures, and budgetary support to boost the growth of the food processing industry. As such, the market in the Asia Pacific region for food applications is expected to progress at a considerable growth rate from 2020 to 2028. North America led the global market in 2020 due to the strong foothold of key players operating in the food, pharmaceutical, cosmetics, and feed industries. In addition, high growth in the processed meat industry and a rise in the sales of bakery products, such as cakes and pastries, are expected to boost the market growth over the forecast period.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco , the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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