The global food ingredient sterilization market is expected to reach US$452,046.9 by the end of 2024, after successfully expanding at a CAGR of 4.2% within a forecast period from 2016 to 2024.
Albany, NY -- (SBWIRE) -- 03/01/2017 -- Global Food Ingredient Sterilization Market: Snapshot
One of the key factors driving the global food ingredient sterilization market over the coming years, is the increasing rate of product recalls across the globe. Food product manufacturers are looking for ways to improve and assure food safety and modern sterilization equipment are able to fulfill that role perfectly. The market is also being driven by the lowered risk of foodborne pathogens due to food sterilization, as well as the improvement of overall shelf life of food products. However, the global food ingredient sterilization market is currently being held back by factors including the overall lack of awareness among consumers regarding the benefits of food sterilization, which is hampering the overall expected growth in sales and revenue for users. There is also the list of issues associated to sterilization equipment that are creating multiple complications in a manufacturer's production rate.
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The global food ingredient sterilization market is expected to reach US$452,046.9 by the end of 2024, after successfully expanding at a CAGR of 4.2% within a forecast period from 2016 to 2024. The market was calculated to reach US$326,069 at the end of 2016.
Heat Sterilization in High Demand Globally
On the basis of methods, the global food ingredient sterilization market can be segmented primarily into heat, moisture, and radiation. The heat based sterilization is expected to witness a leading rate of revenue increment, followed by the radiation sterilization segment. Heat sterilization of food ingredients and products can help reduces the chances of contamination while extending shelf life. Food ingredients sterilization methods may also be commonly formed under ethylene oxide, steam sterilization, heat sterilization, and gamma irradiation, among a few others.
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Packaged food manufacturers are, for instance, using innovative methods such as microwave-assisted thermal sterilization technology for packaged food products, which inactivates the production of toxins inside the container. Companies in the global food ingredient sterilization market are currently focusing on expanding production capacity in North America, Europe, and Asia Pacific. The production capacity will supplement sterilized food ingredients production and enable the manufacturers to serve customers in these regions. In addition, various research initiatives are focused on exploring, developing, and introducing new and efficient food ingredient sterilization techniques and methods. The growing demand for ready-to-eat food products and packaged food products in developed as well as developing countries is also creating lucrative opportunities for players in the global food ingredients sterilization market.
North America Tops Demand for Food Ingredient Sterilization
The global food ingredient sterilization market can be segmented on the basis of key regions, into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America, Europe, and Asia Pacific are expected to record high growth rates between 2016 and 2024. Among them, North America was calculated to account for the leading share in terms of value in 2016, followed respectively by Europe and Asia Pacific. The North American food ingredient sterilization market is expected to remain the dominant one in the world over the above forecast period, owing to an intensely growing demand for ready-to-eat foods and a growing unrest regarding the maintenance of high safety and quality standards. Europe is another key market for food ingredients sterilization manufacturers for similar reasons. In Asia Pacific, the growing consumer demand for sterilized food ingredients and products are the leading factors driving the food ingredients sterilization demand over the forecast period.
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Key players in the global food ingredients sterilization market so far, have included Balchem Inc., Wenda Ingredients, Safe Spice, Sterigenics International LLC, Croll Reynolds, Napasol, Cosmed Group, and Namah Steam Sterilization.
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