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(Health-NewsWire.Net, October 26, 2020 ) The food & beverage disinfection market is estimated at USD 148.9 million in 2018, and is projected to reach a value of USD 178.2 million by 2023, growing at a CAGR of 3.7%. The key players profiled have a strong presence in the global food & beverage disinfection market; they include Trojan Technologies (Canada), Halma (UK), Evoqua Water Technologies (US), Evonik (Germany), Solvay (Belgium), and Stepan Company (US).
The key market players adopted various growth strategies such as expansion, new product launch, acquisition, agreement, and establishing a joint venture, in order to cater to the increasing demand for food & beverage disinfectant chemicals and disinfection equipment. The companies in this market focus on increasing their product portfolios through strategic acquisitions and on expanding their manufacturing capacities.
Expansion of the operations of the company and acquisition of companies to expand their geographical reach were also the key strategies adopted by the players in the food & beverage disinfection market. The companies mainly focused on acquisitions to sustain and grow in the market, new product launches and expansions were the second-most adopted strategy. These strategies helped the players diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios. For instance, in 2016, the companies adopted various strategies such as new product launches, expansions, and acquisitions to retain the market share and meet the consumer demand, globally.
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Evoqua Water Technologies has a robust product offering in the food & beverage disinfection market and offers UV disinfection systems for the food & beverage industry through their broad product portfolio of disinfection systems. The company offers UV disinfection systems for the food & beverage industry through their broad product portfolio of disinfection systems. The company focuses on strengthening its product portfolio has been consistent in strengthening its position in the food & beverage disinfection market by engaging in strategic acquisition of food disinfection equipment manufacturers. For instance, in March 2018, Evoqua Water Technologies strengthened its product portfolio of disinfection systems through the acquisition of Pacific Ozone Technology, Inc., a manufacturer of ozone disinfection systems and testing products.
Evonik is one of the well-established manufacturers of a wide range of specialty chemicals, which operates through business segments such as nutrition & care, performance materials, resource efficiency, services (technology and infrastructure), and corporate. The resource efficiency segment offers a variety of peracetic acid disinfectants through its brand, PERACLEAN, particularly for food packaging materials and food processing equipment. The company focuses on strengthening its product portfolio through new product launches. For instance, in March 2017, Evonik expanded its product portfolio of disinfectants by introducing PERACLEAN 22 CW after it was approved by the USDA and FDA. The product finds application in the meat and poultry processing industry.
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MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
newsletter@marketsandmarkets.com
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