by The global 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 polycyclic antibacterial peptide produced by some strains of the lactic acid bacterium Lactococcus lactis. It is used as a natural food preservative to prevent the growth of pathogenic and spoilage microorganisms in various food products. Some key advantages of nisin include strong antibacterial properties against gram-positive bacteria, retained activity even after cooking and processing, and acceptance as a natural preservative by regulatory bodies and consumers. Due to these advantages, nisin is widely used as a preservative in various processed food products such as meat, dairy, canned foods, beverages, and baked goods.
Market key trends:
One of the key trends in the nisin market size is growing demand for convenient packaged and ready-to-eat foods. With changing lifestyles and busy schedules, consumers increasingly prefer food products that offer convenience and ease of cooking or consumption. This growing demand for processed and convenience foods is driving the use of various preservatives including nisin, to extend the shelf-life of products and prevent microbial spoilage. Nisin effectively controls the growth of gram-positive pathogens and spoilage organisms that are commonly found in processed meat and dairy products. Furthermore, approvals for new applications of nisin by regulatory bodies are also supporting the expansion of the nisin market.
Porter’s Analysis
Threat of new entrants: The global nisin market is consolidated in nature with high capital requirements for production infrastructure and regulatory approvals, which poses high entry barriers for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitute preservatives and commoditized nature of nisin.
Bargaining power of suppliers: Suppliers have moderate to high bargaining power because of limited number of suppliers and requirement of specialized expertise in fermentation process for nisin production.
Threat of new substitutes: Threat of substitution is moderate as nisin faces competition from other chemical and bio-based preservatives though it has established its application especially in food industry.
Competitive rivalry: The nisin market has strong competitive rivalry among the top players due to their global presence and focus on technological developments.
Key Takeaways
The global nisin market is expected to witness high growth, exhibiting CAGR of 7.3% over the forecast period, due to increasing demand from food industry to prevent bacterial spore growth as an alternative to chemical preservatives.
Regional analysis: Asia Pacific dominates the global nisin market and is expected to grow at the fastest rate during the forecast period. This is attributed to rise in food production and consumption in developing countries like India and China where nisin is increasingly being used as a food preservative. Europe also captures significant share owing to stringent regulatory norms prohibiting use of chemical preservatives in food products in the region.
Key players analysis: 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, and Mayasan Biotech. These players are focusing on new product launches and expansion of production facilities to cater to growing demand for nisin globally.
