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The global food preservatives market is estimated to be worth US$2.957 billion with a sales volume of 1.284 million tonnes in 2023, according to the latest report by Frost & Sullivan.
Despite the negative association of preservatives with health, this sector is an essential component of the food industry with a projected CAGR growth of 4.8% from now till 2030. Food preservatives is important as manufacturers use them to extend shelf life of food products or to produce convenience food. In addition, the bakery and meat products categories show strong demand for preservatives, owing to high susceptibility to contamination.
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