Chemical Research Report Preservatives-Market | Page 2

emerging economies of India and China, further contribute to growth of the global preservative
market.
On the basis of function, the preservatives market is categorized into antimicrobial and
antioxidants. Preservatives that are added to end products to arrest growth of microorganisms
are called antimicrobial preservatives. Some of the common antimicrobial agents that are used
as preservatives are benzoic acid, lactic acid, nitrate, nitrite, propionic acid and sulfites.
Preservatives that are used to inhibit oxidation process, especially in stored food items are
called antioxidants. Food items with high fat content tend to get damaged during oxidation
process, antioxidants are used in such food items to counteract the oxidation process and
significantly increase shelf life of packaged food items. Some of the major antioxidants that are
used as preservatives are Vitamin C, Vitamin E, carotenoids, lutein, selenium, and lycopene.
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In the construction industry, preservatives are widely used over wood, steel and glass materials
to enhance its quality and increase its shelf life. In the pharmaceuticals industry and cosmetics
industry preservatives are majorly used to increase the shelf life and enhance stability of
products. Rapid deterioration in quality and effectiveness of cosmetic products are experienced
due to the presence of microbes or water in the final product. Cosmetics preservatives are used
as antioxidants, stabilizers, and antimicrobials in the formulation of face masks, sunscreens,
scrubs, and lotions. Cosmetics preservatives are available as wet wipes, rinse off, and leave-on.
Preservatives Market Outlook – Growing Demand for Processed Food Is Fueling Market
Growth
Rising demand for processed food due to busy lifestyle and increasing number of women in the
workforce is projected to drive growth of the preservatives market, over the forecast period
(2016–2024). In addition growing retail industry in emerging economies and popularity of
processed food among the younger generation is also boosting growth of the market for
processed food, which in turn is projected to drive market growth. According to a study
conducted by Coherent Market Insights, the market for processed food is projected to reach
US$ 88.2 billion by 2024. The rampant growth of the market for processed food, is expected to
fuel growth of the preservatives market, owing to the application of preservatives in processed
food to enhance its overall quality, taste and shelf life.
Preservatives Market Challenges – Stringent Government Rules and Regulations
Stringent regulatory scenario regarding the use of preservatives considering its negative health
impact is a challenge for growth of the global preservatives market. Various authorities across