Global Natamycin Market - Growth, Trends and Forecasts (2018 - 2023)
The global natamycin market is expected toregister an estimated CAGR of 3.5%, during the forecast period.
Most of the food products are infused with preservatives, in order to increase their shelf-life. Natamycin acts as a perfect preservative, due to its long-lasting effect, ability to preserve the taste, and, further, being completely natural. Most manufacturers prefer using natural preservative, as the consumers have evolved from low to high involvement buyers. Moreover, they are willing to spend more on products with higher natural contents.
Natamycin is applied as an antifungal material to the products in the food industry, as its application is considered to be the most effective and natural method for preservation. The increasing global demand for processed, dairy, and meat products is expected to boost the demand for natamycin. Most of these products are susceptible to contamination, due to the rapid growth of mould that affects the product quality and leads to its deterioration. Among most antifungal preservatives such as sorbic acid, potassium sorbate, and lactic acid, natamycin stands out due to its longer-lasting antifungal effect better than other compounds. In addition, it is completely natural that makes it a preferred additive in food industry, due to the increasing number of health-conscious consumers.
Based on source, the natamycin market can be categorized into glucose based, lactose based, NaCl based, and others. Each category has significant role in separate segments of an industry. For instance: glucose based natamycin are majorly used in fruit/vegetable juice industries to preserve and keep them fresh.
On the basis of application, the natamycin market can be segmented into food & beverages, pharmaceuticals, and others. The food & beverages sub-segment accounted for the highest market share, followed by others. The use of natamycin is high in dairy and meat products and is the most preferred substitute for traditional chemical preservatives. Moreover, it has applications in pharmaceutical industry as an antifungal preservative and in antifungal creams.
Asia-Pacific accounts for the largest market share of 33% and is expected to register the highest CAGR, during 2018-2023 (the forecast period). The natamycin market growth can be attributed to the increasing consumption of processed food and growing disposable income. Europe is one among the regions that has high potential for growth of natamycin market. North America is expected to witness comparatively slower growth than other regions, due to lower acceptance.Major PLAYERS: DANISCO, DSM, HANDARY, AMTECH BIOTECH, ZHEJIANG SILVER-ELEPHANT, LANZHOU WEIRI, LANGFANG MEIHUA, ZHENGZHOU NEW FREY, CHIHON BIOTECHNOLOGY, VGP PHARMACHEM, JIAOZUOJOINCARE, BEIJING ORIENTAL RADA, and PUCHENG LIFECOME, amongst others.
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