Natural Antimicrobials Market to Touch USD 860 Million at 7.3% CAGR by 2024

The global natural antimicrobials market is set to grow with a steady CAGR during the forecast period (2017-2024), reveals Market Research Future (MRFR) in an extensive study. The study includes a detailed analysis of factors and segments that would provide the user with an in-depth analysis of the market. The chief among the many factors is convenience food. The consumer habit has changed considerably in the last few decades owing to fast-paced changes taking place in the urban lifestyle. This has dramatically boosted the market for ready-to-go food. However, this product retaining much of the nutrients with an increased shelf-life is of utmost importance. This can be obtained using natural antimicrobials. Increasing amount of disposable income is also one factor that is driving the market ahead by spurring the sale of its associated ready-to-go segment. Increasing consumption of frozen foods can be taken as another major market driver.

Segmentation:

The global natural antimicrobials market can be segmented by type and application.

By type, the market can be segmented into microorganisms, plants, and animals. Microorganisms are sub-segmented into nisin, natamycin, undefined microbial fermentates, and others. Plants can be further segmented into essential oil, phytoalexins, phenolics, citrus oil, and others. Plants segment is dominating the market and is expected to project a robust CAGR of 7.79% during the forecast period.

Application-wise segmentation includes bakery & confectionery, dairy & frozen desserts, beverages, snacks, meat products, oils & fats, and others. Dairy and frozen dessert segment is proving their superiority in the market and is anticipating a healthy CAGR of 7.27% during the review period.

Industry Trend:

Researchers from the Institute of Bioengineering and Nanotechnology have recently developed a method which could prevent antimicrobial resistance and protect the environment from over-use of antibacterial agents. A powerful solution, physical and green alternative to biochemically active antibacterial agents have been developed by them which is a coated substrate where the nano-dagger arrays kill the antibiotic-resistant bacteria Escherichia Coli, Staphylococcus Aureus, and the fungus Candida Albicans.

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A public-private partnership has been developed between the World Health Organization (WHO) and Drugs for Neglected Diseases initiative (DNDi), which is named Global Antibiotic Research and Development Partnership (GARDP), where the aim is to develop at least four new treatments by 2024 with the improvement of existing antibiotics.

Regional Analysis:

Geographical specifications segment the market into four separate zones namely North America, Europe, Asia Pacific (APAC), and the Rest-of-the-World (RoW).

Healthy economic growth and a hike in the ready-to-go foods have spurred the North American market which is the market bellwether as well. A valuation of USD 322.34 million seems easy to achieve.

On the other hand, the APAC is touted to be the fastest growing region with countries such as China, India, and Japan showing extensive growth. With a booming population and globalization taking control of the market, the region can achieve an astounding CAGR of 8.58% during the forecast period without any difficulty.

Competitive Analysis:

The global market is thriving based on certain strategic decisions implemented by companies. For instance, Aptimmune Biologics and Kemin Industries announced a partnership to develop better vaccines for healthcare. Chr. Hansen A/S and FMC Corporation are extending their partnership with their common goal to protect crops which can be considered exemplary.

Key players profiled in the global natural antimicrobials market are E. I. du Pont de Nemours and Company (U.S.), Royal DSM NV (the Netherlands), Univar Inc. (U.S.), Kemin Industries, Inc. (U.S.), Galactic S.A. (Belgium), Chr. Hansen A/S (Denmark), Brenntag AG (Germany), Siveele B.V. (the Netherlands), Cargill, Incorporated (U.S.), Handary SA (Belgium), BASF SE (Germany), Celanese Corp. (U.S.), and others.

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Note : Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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