May 21, 2024
Nisin Market

The Global Nisin Market Is Driven By Rising Demand For Natural Preservatives

Nisin is a bacteriocin which is commonly used as a natural preservative in food products to prevent the growth of pathogenic and spoilage microorganisms. It is produced through the fermentation of Lactococcus lactis. Nisin finds wide application in processed dairy products, canned foods, pharmaceutical products and other food applications. It acts as an alternative to chemical preservatives and provides food manufacturers opportunities to market their products as “natural” or “clean label.” The use of natural preservatives over chemical ones has been on the rise owing to growing consumer demand for clean label and organic food products.

The global Nisin market is estimated to be valued at US$ 176.72 Billion in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends gaining momentum in the nisin market is the increasing adoption of natural preservatives over synthetic ones. With growing health consciousness, consumers are increasingly demanding food products with clean labels and natural ingredients. This has prompted food manufacturers to replace chemical preservatives with natural alternatives like nisin. Also, rising vegan and flexitarian population has augmented the demand for plant-based and organic food products where nisin serves as an effective natural preservative. Its application allows food brands to market food as “organic” or “natural” boosting their sales. This increasing shift toward green products is expected to drive the demand for nisin in the upcoming years.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is low in the Nisin Market as it requires high R&D investments and regulatory approvals to enter the market.
Bargaining power of buyers: The bargaining power of buyers is high as Nisin is a commodity and buyers can easily switch between brands based on pricing.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are few suppliers that dominate the market however switching costs for buyers are low.
Threat of new substitutes: The threat of new substitutes is moderate as there are currently limited substitutes for Nisin however new plant-based preservatives pose a threat.
Competitive rivalry: Competition in the Nisin Market is high among the key global players.

Key Takeaways

The global Nisin Market Growth is expected to witness high growth over the forecast period. The global Nisin market is estimated to be valued at US$ 176.72 Billion in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030.

Regional analysis:

The Asia Pacific region dominates the Nisin Market currently due to rapid growth of the food and beverages industry in countries such as China and India. The Europe region is expected to grow at a significant rate during the forecast period owing to increasing health awareness among consumers. Key players operating in the Nisin Market are focusing on new product launches and expansions to gain market share.

Key players operating in the Nisin Market are Chevron Phillips Chemical Company LLC, BASF SE, Eastman Chemical Company, and Sonneborn LLC. Chevron Phillips Chemical Company LLC is one of the leading suppliers of nisin globally.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it