(Food-Beverage-News.Com, February 10, 2020 ) The global non-thermal pasteurization market is estimated at nearly USD 1.1 billion in 2018 and is projected to reach nearly USD 2.7 billion by 2023, growing at a CAGR of 19.8%. The key drivers of the market are growing consumption of convenience foods and rising acceptance of non-thermal pasteurization among food product manufacturers to extend the shelf life of products.
On the basis of technique, the market segmentation includes HPP, PEF, MVH, irradiation, ultrasonic, and others. The HPP segment is estimated to account for the largest share in the non-thermal pasteurization market in 2018, and the same trend is projected to continue during the forecast period. Among all the other technologies, HPP is a widely used technology in non-thermal pasteurization of food. It preserves the freshness of food products as well as aids in extending their shelf life. HPP ensures efficient processes for microbial inactivation and food preservation. This helps to extend the shelf life of food products. Hence, rising acceptance among food product manufacturers and high market penetration have enabled HPP to have the largest market share.
Based on application, the market segmentation includes food, beverages, and pharmaceutical & cosmetics. The food segment is estimated to account for the largest share in the non-thermal pasteurization market in 2018. The food industry is further sub-segmented into fruits and vegetables, meat products, ready meals, and dairy. The food industry widely uses non-thermal pasteurization for the preservation of meat, seafood, fruits, and vegetable products; as well as other packaged food products. Thus, increasing usage of non-thermal pasteurization by food product manufacturers to extend the shelf life of products is expected to increase the export business, which, in turn, is expected to propel the market growth.
The global non-thermal pasteurization market, on the basis of food form, is segmented into solid and liquid.
The liquid segment is expected to be a faster-growing segment during the forecast period. This is due to the rising consumption of juices and carbonated drinks globally. The rising health concerns are also increasing the consumption of health drinks. This increased consumption is, in turn, accelerating the growth of the non-thermal pasteurization market.
The non-thermal pasteurization market in North America is projected to witness the fastest growth between 2018 and 2023. North America is projected to be the fastest-growing market due to the rising disposable income, changing busy lifestyle of consumers, and increasing health awareness. Non-thermal pasteurization is increasing its market share more rapidly in North America due to the demand for extended, safe, refrigerated shelf life; and favorable food preservation legislation.
The market for non-thermally pasteurized food & beverage products in North America is also being driven by the demand for health and wellness products. Among all the countries in the region, the US is projected to account for the largest market share during the forecast period due to its rising investments among key players.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
