Food Ingredients Market to Rise at 4.20% CAGR between 2016 and 2024

According to a research report by Transparency Market Research (TMR), a leading market intelligence firm, the global food ingredients market sterilization is anticipated to witness a high growth rate in the coming years. The market demonstrates a relatively consolidated business landscape, with a only a few players, such as Croll Reynolds, Sterigenics International LLC, Safe Spice, Balchem Inc., and Wenda Ingredients, leading it. Some of these companies are also a vendor of specialty products in the healthcare and the food and beverages industries

The leading players in the food ingredients sterilization market have been relying on introducing innovative products to remain stable in the competition. Over the coming years, they are likely to shift their focus towards technological advancements of their available products. They are also expected to increase their investments in this market in a bid to capture more shares, states the research report for food ingredients sterilization market.

The research report by TMR further states that the worldwide food ingredients sterilization market will register a steady growth at a CAGR of 4.20% over the period from 2016 to 2024. Spices, herbs and seasonings, tea blends, cereals and pulses, seafood, meat and poultry, dairy ingredients, nuts, and dried fruits and vegetables are the main ingredients that require sterilization in the food ingredients sterilization market. Among the methods of food ingredients sterilization, heat sterilization has gained significant impetus over others and the trend is anticipated to remain same over the forecast period.

In terms of the geography, Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America are the main markets for food ingredients sterilization. North America and Europe have surfaced as the key regional markets for food ingredients sterilization among others. With high awareness regarding food hygiene among consumers, these markets are likely to remain on the top over the next few years. Asia Pacific, among other regional markets, is expected to report a high-paced growth in the near future, notes the market study.

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“The global food ingredients sterilization market is gaining significantly from the increasing number of reports of health issues caused by contamination of food products,” says a research analyst at TMR. The number of food poisoning cases have risen drastically over the last few years. Not just the consumer is suffering, but the food producer is also facing issues due to this, which is why they have turned to food ingredient sterilization, impacting the global market positively.

Apart from this, the ability of sterilized food to supplant preservatives and several other processing agents is also supporting the growth of the food ingredients sterilization market. In comparison to conventional methods of adding preservatives to food products, sterilization is less harmful. Since sterilized foods have no food-borne pathogens, it can reduce food poisoning instances significantly.

Although the global food ingredients sterilization market is witnessing a decent rise, the less awareness about food ingredient sterilization among masses may act as a hindrance in the otherwise smooth growth trajectory of this market. In addition to this, the dearth of trained professionals to perform sterilization procedure properly and increasing reports of equipment malfunction will reflect negatively on the market’s growth in the coming years.

Nonetheless, the market is projected to rise significantly over the next few years, thanks to constant product development. New growth opportunities are likely to come up with the continuous launch of more sophisticated food ingredient sterilization equipment across the world, states the research report.

The review is based on a report by Transparency Market Research, titled “Food Ingredients Sterilization Market (Ingredient – Spices, Herbs and Seasonings, Cereals and Pulses, Seafood, Tea Blends, Nuts, Meat and Poultry, Dried Fruits and Vegetables, and Dairy; Method – Heat, Radiation, and Moisture) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”