Nisin Market generated $317.9 million in 2020, and is estimated to generate $638.1 million by 2030, registering a CAGR of 7.3% from 2021 to 2030. The report provides an extensive analysis of changing market dynamics, key segments, value chain, top investment pockets, regional scenario, and competitive landscape.
People’s changing lifestyle, varied consumer trends towards ready-to-use food products, and growth in bakery, confectionery, meat, and poultry applications drive the growth of the global nisin market. However, stringent regulations pertaining to the use of chemical preservatives in certain regions and surge in awareness regarding the utilization of additives hamper the market growth. On the other hand, continuous research activities by the players and strong support from multinational ingredient manufacturing companies for the development of such products are expected to create new opportunities in the coming years.
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The report provides detailed segmentation of the global nisin market based on type, application, and region.
Based on type, the powder segment accounted for the highest market share, holding 94% of the total share in 2020 and is expected to continue its leadership status during the forecast period. However, the liquid segment is estimated to witness the highest CAGR of 11.7% from 2021 to 2030.
Based on applications, the food and beverages segment contributed to the largest share in 2020, accounting for around three-fourths of the global nisin market, and is projected to continue its lead position during the forecast period. However, the cosmetics and personal care segment is expected to grow at the highest CAGR of 8.3% from 2021 to 2030.
Based on region, North America held the largest market share in 2020, contributing to more than half of the total share, and is expected to maintain its dominance in terms of revenue by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 7.9% during the forecast period. The report also studies the region including LAMEA and Europe.
Covid-19 Scenario:
The outbreak of covid-19 pandemic led to disrupted manufacturing and supply management of nisin. This in turn resulted in the shortage nisin. In addition, the prices were also increased during the initial phase of covid-19, owing to the shortage of material and its higher demand. However, as the situations are revitalizing, and the market is expected to recoup soon.
Leading players of the global nisin market analyzed in the research include DuPont de Nemours, Inc., Galactic, Mayasan Biotech, Merck Group, Royal DSM, Santa Cruz Biotechnology, Inc., Cayman Chemical Company, Chihon Biotechnology Co., Ltd., Duke Thomson’s India Pvt. Ltd., and Siveele B.V.
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