Nisin Market size to exceed USD 550 million by 2024
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Food & beverage industry growth may favor canned vegetables demand and is likely to have a significant growth up to 2024. Canned vegetables use nisin, which helps in preserving and extending product shelf life. It is also used to protect food products from spoilage without affecting product color and taste.
Global seafood market size may surpass 150 million tons by 2024. Increasing sustainable and ecofriendly production of fish, mollusks and crustaceans may drive seafood application demand and hence favor industry growth. Rising consumer inclination towards various seafood dishes and protein based products may favor aquaculture industry growth and favor nisin market size growth.
The U.S. seafood market may generate over USD 20 billion up to 2024. Growing omega 3 (EPA/DHA ingredients) demand may rise due to increasing consumer awareness regarding its health benefits may drive aquaculture market. Global EPA/DHA ingredients market size was over 90 kilo tons in 2015 may grow at over 5% during the forecast timeframe. According to industry study, global aquaculture market is set to surpass USD 200 billion by 2024, with significant gains at over 5% CAGR. China aquaculture production accounted for over 65% of total market share in 2015.
Bakery application accounted for over 21% of total market revenue in 2015. Rising consumer preference towards appearance and texture of bakery goods may drive nisin market size. Canada exports bakery products to the U.S. which include biscuits, pastries, cakes, dough mixes, breads, cookies, pies, cereals and waffles. Shift in focus towards consumer preference for pastries and breads mainly in breakfast and afternoon meals along with less preparation time particularly in Thailand may fuel industry growth.
Increasing convenience and ready-to-eat food products may drive the U.S. nisin market size. Rising packaged food demand and preservatives usage for extended product shelf life should support industry growth.
APAC, with dairy products growth in India and China, may witness significant gains at over 6% CAGR. Increasing consumer preference for natural preservative coupled with rising health concerns may fuel industry growth. Increasing meat consumption and processed dairy products may favor China nisin market. Rising population coupled with increase in disposable may drive regional demand.
Global dairy product may surpass over 14 million tons of annual demand. Increasing consumer preference towards cheese, yoghurt and ice cream owing to growth in functional dairy products expansion in LATAM and APAC may drive nisin market. In addition, vitamin enriched, organic and convenient foods may propel dairy products industry growth.
Increase in lactate concentration and decrease in pH may affect end product formulation. It is safe to use as a preservative and prevent tooth decay. High manufacturing costs may affect industry growth and put pressure on nisin market price trend.
Key players operating in global nisin market share include DSM, Danisco, Galactic, UAB Baltvita and Sivelee. These players are raw material producer and manufacturer. Other industry participants include Shandong Freda Biotechnology, Zhejiang Silver-Elephant Bio-engineering, Cayman Chemical, Duke Thomson, Handary and Chihon Biotechnology. DSM enhance its market presence in global food ingredients industry and develop food preservatives solutions.