LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global nisin market to grow at a CAGR of around 7% during the period 2018-2022, according to their latest report.
This market research report segments the global nisin market into the following applications (meat, dairy products, beverages, bakery products, and other applications) and key regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the growing preference for natural food preservatives among consumers as a key factor contributing to the growth of the global nisin market:
Growing preference for natural food preservative among consumers
One of the growth drivers of global nisin market is the shift in consumer preference from synthetic to natural food additives. It has been observed that the market for natural shelf-life stabilizers witnessed a relatively higher growth than the global synthetic additives market. Consumers perceive natural food additives to be safer and healthier than synthetic food additives.
Even though the cost of manufacturing natural food additives is higher than artificial food additives, the growing global health awareness is positively influencing their adoption rate among consumers. The increasing consumer demand for drinks with less or no sugar is forcing manufacturers to introduce healthier alternatives. Thus, the growing preference for natural food additives among consumers will have a positive influence on production and consumption of food preservatives such as nisin during the forecast period.
According to a senior analyst at Technavio for food research, “Changes in food regulations in the US are creating a significantly higher demand for food additives such as natural sweeteners and natural colorants. Also, the growing consumer demand for clean-label assertions has increased the need for versatile natural colorants such as tomato-based colorants.”
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Global nisin market segmentation
Of the four major applications, the meat segment held the largest market share in 2017, accounting for over 32%, followed by dairy products, beverages, and bakery product segments respectively. However, the market share for all these applications is expected to witness a dip which will be absorbed by the segment. The others segment is expected to witness an increase of 1.52% in its market share by 2022.
The Americas was the leading region for the global nisin market in 2017, accounting for a market share of over 43%, followed by EMEA. Although APAC accounted for the smallest market share in 2017, it is expected to witness the highest growth over the forecast period and increase its market share by 1.3% by 2022.
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