Global food & beverage sterilizing agents market is expected to rise to an estimated value of USD 548.12 million by 2026, registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the growing levels of consumption of ready-to-eat food products along with increased demand from dairy applications. Few of the major competitors currently working in the global food & beverage sterilizing agents market are STERIS Corporation, Solvay, Evonik Industries AG, MITSUBISHI GAS CHEMICAL COMPANY, INC., OCI COMPANY Ltd., HANSOLCHEMICAL, Arkema, LANXESS, TAEKWANG INDUSTRIAL CO., LTD., PeroxyChem, Nouryon, Aditya Birla Chemicals, National Peroxide Ltd, Lenntech B.V., FINKTEC GmbH, Trojan Technologies and STERIFAST among others.
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Segmentation:-
Global Food and Beverage Sterilizing Agents Market By Product (Hydrogen Peroxide, Peracetic Acid, Others), Applications (Cereals & Pulses, Meat & Poultry, Dried Fruits & Vegetables, Dairy Ingredients, Beverages, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Competitive Analysis:
Global food & beverage sterilizing agents market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of food & beverage sterilizing agents market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Market Definition:
Food & beverage sterilizing agents are specially designed chemicals for the sterilization and disinfectant processes in food & beverages applications. These chemicals are utilized for the removal of any harmful microorganisms, infection causing germs or other harmful components which might be prevalent in food & beverage products, manufacturing equipment in the industry or even packaging products. These chemicals are specially designed to remove the chances of infection transferring and promote better removal of infections.
Market Drivers:
- Increasing focus on ensuring safety of food & beverages from various authorities in the different regions, this factor is expected to drive the growth of the market
- Rapid rise in the development and size of food & beverages industry across the globe requiring better quality of systems and products, this factor is expected to boost the growth of the market
- Significant rise in the availability of online channels for food & beverages consumption is also expected to augment growth of the market
- Increasing focus on better living standards and changes in the lifestyles of consumers is also expected to boost the growth of the market
Market Restraints:
- Presence of strict regulations and compliances regarding the usage of chemicals and associated components in the industry, this factor is expected to restrict the growth of the market
- Concerns regarding the negative impact of certain chemicals on health of individuals is also expected to restrict the growth of the market
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Segmentation:
By Product
- Hydrogen Peroxide
- Peracetic Acid
- Others
By Applications
- Cereals & Pulses
- Meat & Poultry
- Dried Fruits & Vegetables
- Dairy Ingredients
- Beverages
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
Key Developments in the Market:
- In January 2019, LANXESS announced that they had expanded their portfolio with the introduction of a beverage stabilizer under the brand name of “Nagardo”. It is a natural preservative and is designed to meet the growing demand from consumers as well as beverage manufacturers. This innovative launch will provide better opportunities to grow for LANXESS as they look to establish themselves as a major player in the beverages industry
- In November 2018, Evonik Industries AG announced that they had agreed to acquire PeroxyChem for USD 625 million. This acquisition will improve the production and commercialization capabilities of Evonik Industries for supplying hydrogen peroxide and peracetic acid for various specialty applications. These products are generally associated with having high profit margins and will have a positive impact on the overall revenues of the company
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure
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