Nisin Market is Estimated To Witness High Growth Owing To High Demand From Food Industry
The Nisin Market is estimated to be valued at US$ 176.72 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Nisin is a polypeptide antibiotic used as a natural preservative in food industry. It helps in inhibiting the growth of pathogenic and spoilage bacteria. Nisin finds wide application in dairy products, meat, beverages and other food products to increase their shelf life without refrigeration. Its usage helps manufacturers reduce food wastage and ensure safety of consumers from food borne illnesses.
Market key trends:
One of the key factors boosting demand for nisin is the rising demand from food industry. Nisin is widely used as a natural preservative in dairy, meat and other food products. According to the Food and Agriculture Organization, approximately one-third of the world’s food production gets wasted each year. Nisin helps extend the shelf life of perishable food products without refrigeration, thereby reducing food wastage. Its usage allows small food manufacturers in developing nations to produce and distribute food products over long distances without refrigeration. This increases the supply of nutritious food, benefiting both manufacturers and consumers. The growth in demand for all-natural and clean label ingredients is also expected to drive market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The nisin market size presents high barrier of entry due to need of stringent research and development process and high capital investments required for production facilities.
Bargaining power of buyers: Buyers have moderate bargaining power as there exist many established manufacturers supplying nisin globally. However, this power is expected to increase over the forecast period.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and suppliers operating at a global level. However, any consolidation among suppliers may increase their power.
Threat of new substitutes: Threat from new substitutes is low as nisin holds an important position as a natural preservative in food industry with proven benefits over its substitutes.
Competitive rivalry: Intense due to presence of many established players globally.
SWOT Analysis
Strength: Nisin is bio-based and labeled as GRAS (Generally Recognized As Safe) which makes it a natural and safe ingredient for food preservative. It has proven antimicrobial activity against wide variety of microbes.
Weakness: High production costs and limited supply due to complex fermentation process for production. Nisin also exhibits reduced activity at higher temperatures above 37°C.
Opportunity: Growing demand from packaged/processed food industry and increase in consumption of ready-to-eat meals offer growth opportunities. Expanding applications in pharmaceuticals and animal feed also present opportunities over the forecast period.
Threats: Stringent regulations pertaining to use of bio-based preservatives in various countries and availability of substitute ingredients hamper market growth to some extent.
Key Takeaways
The global nisin market is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing consumption of processed food items globally, especially in developing nations.
Regional analysis: Asia Pacific region is the fastest growing as well as dominating regional market for nisin globally. This is attributed to rapidly growing population, rising disposable incomes and changing food consumption patterns in countries like China and India. Significant growth in organized retail sector and increasing demand for packaged/processed foods also support the market growth in the region.
Key players operating in the nisin market are DSM,Galactic,Shandong Freda Biotechnology,Siveele B.V.,DuPont,Handary S.A.,Cayman Chemical,Chihon Biotechnology,Amtech Biotech,Zhejiang Silver-Elephant Bioengineering,Mayasan Biotech.
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