ALBANY, New York, May 24, 2018 /PRNewswire/ --
Transparency Market Research (TMR), in its recent outlook titled, "Nisin Market: Global Industry Analysis and Opportunity Assessment 2018-2026," projects that in terms of value, global nisin market revenue will expand at a CAGR of 4.2% during the forecast period. In terms of revenue, the global nisin market accounted for around US$ 309.6 Mn in 2017 and is anticipated to increase roughly to about US$ 445.6 Mn by 2026.
Apart from nisin being a heat-resistive preservative, it also acts as a broad spectrum preservative, effective against many gram-positive organisms such as lactic acid bacteria, listeria monocytogenes, staphylococcus aureus, bacillus cereus, and clostridium botulinum, among others, which is expected to drive the growth of the nisin market over the forecast period. Growing consumer preference for processed and ready-to-eat food products, coupled with an increasing consumer population shifting to products containing vegetables and meat as a prime ingredient, is identified to boost the demand for bio-preservatives such as nisin.
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By form, the nisin market is segmented into powder and liquid. The powder segment is likely to be the most attractive segment in the forecast. The powder segment is estimated to account for a significant revenue share of 97.9% in 2018 and is expected to reach 97.7% by 2026. On the basis of end use, the nisin market can be segmented into food & beverages, pharmaceutical, animal feed & pet food and others. The food & beverages segment is further sub segmented into beverages, bakery, confectionary, meat, poultry & seafood, dairy products, ready meals, soups & noodles, snacks and others. The food & beverages segment is estimated to account for a significant revenue share of 90.2% in 2018 and is expected to register moderate growth rate during the forecast period.
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The report covers trends driving each segment and offers analysis and insights regarding the potential of the nisin market in specific regions. In terms of value, Europe is likely to account for approximately a share of 32.2% by the end of 2026. Also, Europe is expected to dominate the market through 2026 in terms of demand, followed by the U.S. In North America, millennial population forms a major chunk of consumers of ready-to-eat and processed food products. Consumers aged between 35 and 49 are also developing a taste for convenience foods, which is further expected to drive the growth of the nisin market during the forecast period.
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The nisin market in Asia Pacific is likely to face a challenge to growth during the forecast period, prominently owing to the price restraint compared to that of conventional chemical preservatives. Highly-refined chemical preservatives are available in the market at a very low price, as they are mass-produced in chemicals. The cost for nisin production is high, as producers have lower production per unit of input and increased labor cost, while margins are getting squeezed due to the increasing competition.
Moreover, there is no proper alignment between supply and demand, as the information system and statistics available for producers is not as reliable and detailed as that of the food industry and general agriculture in the countries with well-developed markets. If, by chance, there is any imbalance in the lactate concentration beyond a standard level and a decrease in the pH level, it can drastically affect the final end product, which is expected to be a significant restraining factor for the growth of nisin market over the forecast period.
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Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the nisin space. Nisin producer includes Koninklijke DSM NV, E. I. du Pont de Nemours and Company (Danisco A/S), Merck KGaA, Siveele B.V., Santa Cruz Biotechnology, Inc., Galactic S.A., Handary S.A. , Shandong Freda Biotechnology Co., Ltd, MAYASAN Food Industries A.S., Cayman Chemical Company, Inc., and Chihon Biotechnology Co., Ltd. among others.
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