Natamycin Market size is $68.5M in 2019, growing at a CAGR of 3.3% during the forecast period 2020-2025. Natamycin also known as Pimaricin is a FDA approved drug used as an antifungal medication for conjunctiva tissue (eye), oral and skin infections. It is permitted to protect food preservatives such as cheese, fermented meat, yogurt, beverages, baked goods and others against yeasts and molds. It is used as a preservative for the food products to enhance the quality and increase the product self-life. It is an anti-fungal agent produced during aerobic fermentation by the Streptomyces natalensis, a bacterium in soil. It is odorless and colorless liquid to prevent fungal infections of the cell membrane from the food without affecting the products flavor. It is used as chemical preservatives owing towards its neutral taste or flavor impact and less pH dependence for efficacy.
- Increase in demand for processed and advanced packaged foods and the increasing food safety regulations are set to propel the growth of the market.
- Stringent food safety regulation by governments on food and beverage products worldwide drives the market’s growth.
- The rising consumption of ready-to-eat meals and increased use in antifungal pharmaceutical products is driving the growth of market.
- Europe region is estimated to record the fastest growth rate during the forecast period 2020-2025.
By Application – Segment Analysis
In 2019, Food & Beverage Industry segment dominated the Natamycin Market in terms of revenue is estimated to grow at a CAGR of 2.9%. Natamycin is used as a preservative in baked goods, meat, fruit juice, wine, margarine, yogurt, dairy, vegetables, and fruits products. It binds to ergosterol a building block in the cell walls or membrane of yeasts and molds, for the preservation of food products. It requires prevention from fungal infections and the contamination of minerals and vitamins in the food & beverage products and health-conscious people can consume these for the same nutritional benefits aiding towards the market’s growth.
Geography – Segment Analysis
In 2019, the Asia-Pacific region dominated Natamycin Market in terms of revenue with a market share of 38% owing towards the increase in the food and beverage industries. This growth can be attributed to increasing growth of population and increased demand for dairy and meat products. China, Japan and India have technological advancements and increasing adoption of connected devices to promote the antifungal food preservations for the safety of goods products. Government has taken initiatives to promote technological advancements in this region are key factors in the growth of the Natamycin market. Europe is estimated to record the fastest growth rate during the forecast period 2020-2025.
Drivers – Natamycin Market
- Increase in The Product Safety and Self-Life
Increase of safety regulations by the Government for food industries drive the Natamycin Market owing towards the demand for organic, fresh, and exotic products with better quality. Consumers demand for high quality products with no changes in nutritional, mineral and calcium properties. Increasing deployment of food and packaging industries across the globe is other major factor driving growth of the Natamycin market. Presence of retail and e-commerce channels has also driven the market for goods product owing to their ease of availability and lower cost.
Challenges – Natamycin Market
- Stringent Government Regulation
The lack of proficient organization for Natamycin system and growing stringent government policy and regulation in the North America region of this drug for food preservation towards market growth is restraining growth of the market. Voriconazole is an alternative for Natamycin and is mostly preferred by healthcare sector as it gives clear vision.
Natamycin Industry Outlook
Product Launches was the key strategy of the players in the Natamycin Industry. Natamycin top 10 companies include Royal DSM N.V., Handary Amtech Biotech, Zhejiang Silver-Elephant Co. Ltd., Lanzhou Weiri, Langfang Meihua Bio-Technology KK Co. Ltd., Qingdao FTZ United International Inc., Chihon Biotechnology, VGP Pharmachem, JiaozuoJoincare and Beijing Oriental Rada Co., Ltd.
- In December 2019, Royal DSM N.V, a global science-based company in Nutrition, Health and Sustainable Living acquired Royal CSK. This acquisition helped in strengthening DSM’s ability to serve the needs of dairy industries worldwide.