Feb 08, 2021, 06:05 EST
Shibuya-ku, Tokyo, Japan, Japan, Feb 08, 2021, 06:05 /Comserve / -- The report analyzes the international markets including development trends, competitive landscape analysis, investment plan, business strategy, opportunity, and key regions development status.
Russia's food preservatives market is projected to grow, witnessing a CAGR of 2.98% during the forecast period (2020-2025).
- Russia is one of the fastest-growing emerging markets and in order to address the supply chain complexities, food preservation additives are used to meet food safety and security. Health consciousness is growing among the population, thus driving the market for natural food preservatives in Russia.
- The import ban on foreign foods from European Union and the United States manufacturers presents a major opportunity for the domestic manufacturers base, and Russian canned and preserved food producers have been benefitting, as items such as fresh fruits and vegetables become too costly for many.
- Russian production of food preservatives is represented by manufacturing acetic acid, sodium nitrite, and sodium pyrosulfite. Moreover, stringent government regulations act as a restraint to the market as Russian government prohibits the use of any form of food additives if safety testing is incomplete.
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Key Market Trends
Natural Preservatives Poised to Achieve Significant Growth Rate
The natural food preservatives market is driven by changing consumer preferences toward food and beverages in Russia. An increase in demand for convenience products has led to an increase in the demand for foods with longer shelf life, thus increasing the natural food preservatives demand. Companies are seeing this as an opportunity to innovate and provide solutions in the form of natural and clean label food preservatives such as salt, sugar, oil, honey, citric acid, vinegar, and others. Therefore, the growth of consumer interest in high-quality, natural, and environment-friendly ingredients is leading Russian manufacturers to gradually switch to using organic raw materials and more “natural” food preservatives in the Russian market.
Rising Production Levels Of Processed Food and Beverages In Russia
The food processing sector has garnered special attention by the Russian Government in recent years which implements special supporting programs to improve the efficiency of enterprises, provides diversification of production, and improves the competitiveness of manufactured products. The output of processed foods has increased steadily which includes vegetable oil, meat products, poultry and offals, butter, pasta, sugar, cheese, and cottage cheese, vegetables, etc. Within the processed food and beverage segment, canned food items such as vegetables and mushroom preserves, semi-finished meat products, and ready-to-cook food items are propelling the demand for food preservatives in the country. Furthermore, Russia has witnessed significant growth in the retail sales of canned meat and poultry items over the last few years which has driven the food preservatives market in the country.
A few of the leading players in the South Africa food preservatives market include Corbion N.V., Kerry Group, Koninklijke DSM N.V., Biesterfeld AG, Chr. Hansen Holding A/S, Globar, BASF, etc. The key strategies used by companies include an increase in research and development expenditure to innovate products under the natural preservatives segment to meet the growing consumer preference.
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1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.2 By Application
5.2.2 Dairy & Frozen Product
5.2.4 Meat, Poultry & Seafood
5.2.6 Sauces and Salad Mixes
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 Corbion N.V.
6.3.2 Kerry Group
6.3.3 Koninklijke DSM N.V.
6.3.4 Biesterfeld AG
6.3.5 Chr. Hansen Holding A/S
6.3.6 BASF SE
6.3.7 Jungbunzlauer Ag
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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