With reference to the latest market forecast report published by Transparency Market Research, on the global nisin market for the assessment period of 2019-2028, revenue generated from the global nisin market has been estimated to be valued at ~ US$ 310 Mn in 2019, which is projected to increase at a CAGR of ~ 5%, to reach a valuation of ~ US$ 490 Mn by 2028.
The prevention of food spoilage has always been an important manufacturing factor for the food industry, and the growing use of processed food has brought preservatives such as nisin into the spotlight. Bio preservatives such as nisin are used to inhibit the growth of harmful microbes in a wide variety of food and beverage products. The preferred use of nisin in these applications is due to their heat-resistant property, since thermal processing is extensively used in food processing. Even at high-temperatures, nisin inhibits the growth of spores and saves the food product from any kind of spoilage.
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Apart from nisin being a heat-resistive preservative, it also acts as a broad spectrum preservative, effective against many gram-positive organisms such as lactic acid bacteria, listeria monocytogenes, staphylococcus aureus, bacillus cereus, and clostridium botulinum, among others, which is expected to drive the growth of the nisin market over the forecast period.
With increasing urbanization, time-starved consumers are spending more on prepared, processed, and ready-to-eat food. Increasing expenditure on ready-to-eat meals is also driving the growth of the global nisin market, and this trend is expected to continue over the forecast period too. Consumer awareness regarding the health hazards related to synthetic preservatives has grown over time, and hence, manufacturers are now focusing on incorporating natural food preservatives such as nisin.
In North America, the millennial demo graph constitutes a large share in the consumption of ready-to-eat and processed food products. The consumption of take-away food has also risen considerably due to the convenience factor which is further expected to drive the growth of the nisin market during the forecast period.