Market Trends of Australia Food Preservatives Industry
This section covers the major market trends shaping the Australia Food Preservatives Market according to our research experts:
Rising Demand for Functional Beverages
The booming beverage industry is majorly uplifting the consumption of ingredients including preservatives which is most likely to foster the market growth in Australia. The properties of drinks such as high water activity demand the irreplaceable use of preservatives in the beverage industry is to avoid the change in taste, the color, and bitter aftertaste. Moreover, with the rise in demand for functional beverages, the market for natural preservatives is gaining momentum. Manufacturers are embracing innovation for gaining a position in the market by incorporating the organically sourced preservatives in the product formulation. Key players such as Cargill, Incorporated offers a range of natural preservatives to cater to the growing demand for healthy drinks.
Increasing Demand for Clean-Label Products
Consumers demand clean labels on products to know what exactly they consume and at what levels. Their interest in identifying the ingredients present in products has triggered the clean label product market. Consumers, in the region, are highly concerned about the long-term effects of synthetic preservatives on health, and thus prefer natural preservatives in their foods. Asia-Pacific has the fastest growth rate for clean label products. According to the research conducted by the ingredient company Ingredion, Asia-Pacific registered the strongest demand for clean label products, as compared to any other region.
