07-Jan-2021 | Zion Market Research
According to the analysis by Zion Market Research, the valuation of the global food & beverage sterilizing agent market in 2018 was above USD 358 million and is anticipated to grow at a CAGR of 4.9% during the forecast period of 2019–2025. A few prominent players actively participating in the market include Steris, Solvay, Evonik Industries, Taekwang Industry Co, Ltd., Peroxy Chem, Hansol Chemical, Arkema, and OCI Company Ltd. Various approaches are been implemented by companies to boost their income and hold a major share of the market. To cite, Evonik in July 2017 had launched a disinfectant active Hyprox AS that contains hydrogen peroxide and has a range of applications such as sterilization and water treatment.
Thriving Food & Beverage Industry To Help Boost The Food & Beverage Sterilizing Agent Market Growth
The key reason for the growth of the food & beverage sterilizing agent market is the thriving food & beverage industry around the world. Further, the alerting customer lifestyle and purchasing behavior together with rising experience in retailing, and the increasing desire of the customer to enhance their standard of living are expected to propel the market growth. However, negative health effects of hydrogen peroxide and stringent government policies for the food industry are few factors that are anticipated to hamper the growth of the global food & beverage sterilizing agent market.
Hydrogen Peroxide Segment Is Anticipated To Hold The Highest Market Share
The food & beverage sterilizing agent market is segmented based on product type, application, and region. The product type segment of the market is categorized into peracetic acid, hydrogen peroxide, and others (moist heat, glutaraldehyde, etc). In 2018, the largest share of the global market was held by hydrogen peroxide. The product serves as an antimicrobial agent in a number of food products comprising nearly every dairy product and in aseptic food packaging & food processing applications. On the basis of application, the global food & beverage sterilizing agent market is classified into meat & poultry, cereals & pulses, dairy ingredients, dried fruits & vegetables, beverages, and others (tea blends, seafoods, and spices & herbs).
Increasing Consumption Of Ready-To-Eat Food Expected To Help North America Dominate The Market
The region dominating the global food & beverage sterilizing agent market is North America owing to its deep-rooted food industry. Further, increasing intake of ready-to-eat food because of busy lifestyles, hygiene & health concerns together with rising purchasing capacity of customers are other factors driving the market growth of this region. Europe accounts for the second-biggest market share followed by Asia Pacific. The existence of all types of food retail outlets such as supermarkets & hypermarkets, convenience stores, restaurants, hotels, and so on, has helped Europe grab this position.
Browse the full “Food & Beverage Sterilizing Agent Market- By Product Type (Peracetic Acid, Hydrogen Peroxide), By Application (Meat & Poultry, Dairy Ingredients, Cereals & Pulses, Dried Fruits & Vegetables, Beverages)- Global Industry Perspective Comprehensive Analysis And Forecast, 2020 - 2026.” Report at https://www.zionmarketresearch.com/report/food-beverage-sterilizing-agent-market
The global food & beverage sterilizing agent market is segmented as follows:
By Product type
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