To prevent microbial growth and undesirable changes in the physical and chemical properties of medications, meals, drinks, artworks, cosmetics, and wood, preservatives are substances or chemicals that are applied to the products. Preservatives come in two varieties: synthetic and natural, both of which are employed to raise the calibre of the final product. There are many natural preservatives in nature, and they typically come from plant sources. Examples include antioxidants, vitamin E, rosemary extracts, and seed extracts. Synthetic preservatives such as potassium sorbate, benzoic acid, sulphur dioxide, and sodium nitrite are processed into the final product and added. Natural preservatives are in greater demand as a result of rising health concerns among the world's population, which is fueling the market for preservatives' expansion. Growing food industries in China and India, two growing economies, are also boosting the need for preservatives worldwide.
According to their intended uses, antioxidants and antimicrobials make up the majority of the preservatives industry. Preservatives known as antimicrobial preservatives are applied to completed goods to prevent the growth of microorganisms. Some of the common antimicrobial preservatives include nitrate, nitrite, benzoic acid, propionic acid, lactic acid, and sulfites. Antioxidants are a form of preservative that is used to stop oxidation, especially in products made from preserved foods. Foods with a high fat content are more susceptible to oxidative damage. Antioxidants, which prevent oxidation and significantly increase the shelf life of packaged goods, are included in these foods. Some of the key antioxidants used as preservatives are vitamin C, vitamin E, carotenoids, lutein, selenium, and lycopene.
Celanese Corporation, Corbion N.V., E. I. du Pont de Nemours and Company, Cargill Incorporated, Archer Daniels Midland Company, Kerry Group, and BASF SE, Chr. Hansen A/S, are some of the major companies active in the worldwide preservatives industry.
Growing demand for processed foods as a result of busy lifestyles and an increase in the number of working women is predicted to boost the growth of the preservatives market (2016–2024). The popularity of processed foods among young people and the growing retail industry in developing countries are further factors driving up demand for processed food, which is projected to drive market growth. A Coherent Industry Insights report projects that the processed food market would reach US$ 88.2 billion by 2024. Preservatives are added to processed food to increase its overall quality, flavour, and shelf life.
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