— Allied Market Research
WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, July 4, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Nisin Market by Type, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global nisin market size was valued at $317.9 million in 2020, and is projected to reach $638.1 million by 2030, growing at a CAGR of 7.3% from 2021 to 2030. North America is one of the prominent regions in the market that accounted for approximately half of the total nisin market share in 2020.
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Factors that drive the nisin market growth are change in lifestyle of people and varied consumer trends toward the use of ready-to-eat food products. The food & beverages processing industry has influenced the nisin market to a large extent. In addition, growth in bakery, confectionery, meat, and poultry applications is expected to fuel the demand for nisin in future. However, stringent regulations pertaining to the use of chemical preservatives in many regions and rise in awareness among consumers toward the use of these additives are expected to hamper the growth of the market.
Continuous research activities by the players in the market have led to the development of nisin in powdered and liquid form, which adds value to its usability in the food & beverages industry. Though easy to blend, liquid nisin has a shorter shelf life as compared to powdered nisin, which offers better sales chances compared to the latter. Nearly 95% of the total nisin sales closed in 2020 were the ones in powdered form; however, the liquid nisin segment is expected to grow exponentially through to 2030.
Increasing consumer awareness regarding the health benefits of products containing natural ingredients and strong support from multinational ingredient manufacturing companies for the development of such products are the key nisin market trends. Therefore, the need for natural food preservatives that aid in the extension of the shelf-life of products, such as nisin, is also growing.
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According to the nisin market analysis, the market is segmented on the basis of type, application, and region. By type, it is divided into powder and liquid. On the basis of application, the market is split into food & beverages, pharmaceuticals, and cosmetics and personal care. The food & beverages segment is sub-segmented into meat and poultry products, dairy products, beverages, canned products, and others. The market is analyzed across four regions such as North America, Europe, Asia-Pacific, and LAMEA.
Based on type, the powder form of nisin held the major share in the market. This is attributed to its cost-effectiveness and wide availability. Moreover, the wide incorporation of powder form on nisin in pharma and cosmetics products as a preservative has spurred the market growth.
Based on application, the food & beverages segment gain a major traction in the market in 2020. Meat and poultry products segment in food & beverages held the major share in the market. The growth of the sea food, meat, & poultry market is driven by rise in consumption of meat products across the world. A number of food preservatives is used to enhance the shelf life of packaged meat. As the consumption of packaged meat is growing substantially, the growth of the nisin market is positively impacted.
Regionally, North America accounted for approximately half of the total nisin market in 2020, and is expected to remain dominant during the nisin market forecast period. Asia-Pacific is expected to be a prominent market with major growth expected in China, India, and other developing countries.
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The key players profiled in the report include Cayman Chemical Company, Chihon Biotechnology Co., Ltd., Duke Thomson’s India Pvt. Ltd., DuPont de Nemours, Inc., Galactic, Mayasan Biotech, Merck Group, Royal DSM, Santa Cruz Biotechnology, Inc., and Siveele B.V.
Key findings of the study
• By type, the powder segment held the highest share, accounting for 94.4% of the global nisin market.
• Based on application, food and beverages segment held the major share of 75.3% of the nisin industry.
• Based on region, Asia-Pacific witnessed a major annual growth rate of 7.9%.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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