A report published by Persistence Market Research, titled Protective Cultures Market: Global Industry Analysis 2013–2017 and Forecast 2018–2028', the protective cultures market was valued at US$ 136.1 Mn at the end of 2018 in terms of value, and is forecast to reach US$ 922.4 Mn by the end of 2028. The global protective cultures market is expected to grow at a CAGR of 21.1% in terms of value from the estimated year (2018) to the forecast year (2028).
Increasing Demand for Natural Preservatives from Food Manufacturers to Escalate Demand for Protective Cultures
In the overall global protective cultures market, increased competition and high fragmentation is seen. The growing awareness among people about ill-effects of consumption of chemicals and food preservatives, growing demand for natural food additives, as well as increasing popularity and adoption of clean label products are some of the prime drivers for the growth of the protective cultures market. Moreover, the increasing demand for preservatives with longer shelf life, as well as highly transparent products, favors the growth of the global protective cultures market.
The presence of various organized players in the protective cultures market is driving the competition. This is also one of the major factors that help to boost the development of various innovative products in the protective cultures market. This is a major factor that aids the growth of the protective cultures market in terms of both market volume and market value throughout the forecast period (2018 – 2028).
Dairy Products Registered a Market Share of over 50% in 2018, in the Overall Protective Cultures Market
By end use, the dairy products segment is expected to hold a prominent share in the overall protective cultures market. This segment is expected to account for a high market share of 50.5% in terms of market value by the end of the estimate year 2018 in the protective cultures market. This segment’s value share is expected to reach 54.3% by the end of the forecast year 2028 in the protective cultures market.
The dairy products segment is expected to exhibit high growth in terms of value in the protective cultures market. The seafood segment is expected to hold a market share of 14.0% during the estimate year (2018) and is expected to rise to 15.2% during the forecast year (2028) in the protective cultures market. This segment is expected to exhibit good growth in terms of value in the overall protective cultures market.
Europe Holds the Largest Market Share of over 40% in Terms of Market Value in the Protective Cultures Market
The European region is expected to account for a high market share when compared to other regions such as Latin America, Asia Pacific, Middle East and Africa, and North America. The demand for protective cultures is expected to show prominent growth in terms of both, market value and volume throughout the forecast period (2018 – 2028). This can be attributed to increased demand for clean label products, as well as stringent laws and regulations about the use of chemicals and antibiotics in food products, in the European region.
The Protective cultures market in Asia Pacific region is expected to exhibit growth at rapid pace over the forecast period, owing to increasing number of key players, demand for dairy products and most importantly growing demand for natural and clean label products, owing rising awareness among people especially from developing countries like China, India, etc.
Key Producers of Protective Cultures
Some of the key players included in the protective cultures market report are DowDuPont Inc, Chr. Hansen Holding A/S, Koninklijke DSM N.V., Kerry Group PLC, Sacco Srl, CSK Food Enrichment B.V., Soyuzsnab Group of Companies, Dalton Biotechnologies S.R.L, Meat Cracks Technologie GmbH, BIOPROX INGREDIENTS, Aristomenis D. Phikas & Co SA., THT s.a., and Biochem s.r.l. among others. The key market players are focusing on strategic developments in terms of expansions and investments, new product launches, joint ventures, patnerships, & collaboations for business growth & development.