Argentina Food Preservatives market is projected to witness a CAGR of 4.20% during the forecast period (2020 - 2025).
- Nowadays mostly all food products being produced in the country have food preservatives. The purpose is generally to preserve the natural characteristics of food and to increase the shelf life of food, and inhibit natural aging and discoloration that can occur during food preparation. Therefore, this factor is driving the market forward in the country.
- But there are certain harmful effects of using chemicals for preservation such as; Sulfites are common preservatives used in various fruits, may have side effects in form of headaches, palpitations, allergies, and even cancer, which can restraint the market during the forecast period, as in 2017, the country reported a total of 44,548 patients diagnosed with cancer, up from 1,081 patients diagnosed in 2012 (as per the report published by Ministerio de Salud, Argentina.
Key Market Trends
Increasing Processed Food and Beverage Market
The food processing industry in Argentina is dynamic and growing, with new capital investments being made and growth expected, moreover, preservatives are being used to increase the shelf life of food and to maintain the quality for a longer time, which is expected to increase the share of preservatives in the country.
In order to aid sales of packaged food, at the beginning of 2019, the government launched a new national program titled Precios Esenciales, which translated to “essential prices”. Initiatives like these are expected to increase the demand for food processing ingredients such as preservatives.
Increasing Indulgence Towards Speciality Ingredients
Argentina is a potential market for the specialty ingredients thus supporting the natural preservatives market in the country, greatly due to the economic growth and the shift of the preferences of the consumers toward healthy and value-added food. ?Better production technology, and access to distribution channels, are expected to be key factors in the near future to drive the market growth in Argentina. Expansion of the United States and other foreign players in the Argentine food processing sector may favor the applications of specialty food ingredients. ?
Moreover, tighter food safety regulations, adoption of ISO and Hazard Analysis and Critical Control Point ( HACCP) practices and new nutrition standards by the industry in the country, increase in certification and standardization of products, and expansion of organic production in the country are expected to increase the market for natural preservatives in the country.
Some of the major companies producing and importing food preservatives in Argentina are Celanese Corporation, Corbion NV, and Kerry Group plc. Some of the firms produce locally additives, preservatives, and/or flavorings. Importers bring from foreign countries products that are not manufactured locally or supplementary ingredients. In some cases, low-cost or bulk ingredients are imported when the domestic supply insufficient or the local price is too high, this is expected to increase the competition between the players operating in the Argentina Food Preservatives market. Most imports of the ingredients in the country are carried out by the producer, but there are also some direct importers in the market.
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1.1 Study Deliverables & 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
5.2.3 Bakery Products
5.2.4 Meat, Poultry & Seafood
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Positioning of the Players
6.3 Company Profiles
6.3.1 Celanese Corporation
6.3.2 Aadhunik Industries
6.3.3 DuPont de Nemours, Inc
6.3.4 Kerry Group plc
6.3.5 Cargill, Incorporated
6.3.6 Corbion NV
6.3.7 BASF SE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.