Food & Beverage Sterilizing Agent Market Introduction
The food and beverage sterilizing agent market refers to the industry that produces and supplies various chemicals, equipment, and processes used to sterilize and sanitize food and beverage products. Sterilizing agents are used to kill or eliminate harmful microorganisms such as bacteria, viruses, and fungi that can cause foodborne illnesses and spoilage. They are used in various stages of food and beverage production, including processing, packaging, and storage, to ensure the safety and quality of the final products.
The food and beverage sterilizing agent market includes various types of products, such as disinfectants, sanitizers, and antimicrobial agents. These products can be chemical-based, such as chlorine, hydrogen peroxide, and ozone, or physical-based, such as UV-C light and heat. They are used to disinfect and sanitize equipment, surfaces, and packaging materials, as well as to treat food and beverage products themselves.
The demand for food and beverage sterilizing agents is driven by the increasing awareness of food safety and the growing concern about foodborne illnesses. The food and beverage industry is heavily regulated, and the use of sterilizing agents is mandated by various regulatory agencies, including the FDA and USDA in the United States, to ensure the safety and quality of food products.
The food and beverage sterilizing agent market is expected to continue to grow as the food industry expands and new food products are developed. The market is also driven by the development of new sterilizing agents that are more effective and safer for use in food and beverage production. Additionally, the increasing demand for organic and natural food products has led to the development of new sterilizing agents that are derived from natural sources, such as plant extracts and essential oils.
Overall, the food and beverage sterilizing agent market plays a critical role in ensuring the safety and quality of food products and is expected to continue to grow in the coming years.
Food & Beverage Sterilizing Agent Market Industry Analysis
The food and beverage sterilizing agent market is a significant and growing industry that provides critical products and services to the food and beverage industry. The industry is driven by several factors, including the increasing concern for food safety and the growing demand for processed food and beverages.
The market is segmented by product type, application, and geography. Based on product type, the market can be divided into chemical-based sterilizing agents, physical-based sterilizing agents, and natural-based sterilizing agents. Chemical-based sterilizing agents, such as chlorine, hydrogen peroxide, and ozone, are the most commonly used sterilizing agents in the food and beverage industry due to their effectiveness and low cost. Physical-based sterilizing agents, such as UV-C light and heat, are also widely used, especially for the sterilization of equipment and surfaces. Natural-based sterilizing agents, such as plant extracts and essential oils, are gaining popularity due to their non-toxicity and sustainability.
The application of sterilizing agents in the food and beverage industry can be categorized into meat and poultry, dairy products, bakery and confectionery, fruits and vegetables, and beverages. Meat and poultry are the largest application segments due to the high risk of bacterial contamination. The dairy products segment is also significant, as dairy products are highly perishable and require strict sanitation standards to maintain their quality.
Geographically, the food and beverage sterilizing agent market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America and Europe are the largest markets due to the high awareness of food safety and the strict regulations in these regions. The Asia-Pacific region is expected to be the fastest-growing market due to the increasing demand for processed food and beverages and the growing awareness of food safety in this region.
The key players in the food and beverage sterilizing agent market include BASF SE, Ecolab Inc., Solvay SA, DowDuPont Inc., Evonik Industries AG, and The Chemours Company. These companies are investing heavily in research and development to develop new and improved sterilizing agents that are more effective, sustainable, and safe for use in food and beverage production.
Food & Beverage Sterilizing Agent Market Trends
The food and beverage sterilizing agent market is a dynamic industry that is constantly evolving to meet the changing needs of the food industry. Some of the current trends in the market include:
- Growing demand for natural-based sterilizing agents: Consumers are increasingly demanding natural and organic food products, which has led to the development of natural-based sterilizing agents derived from plant extracts and essential oils. These natural agents are perceived to be safer and more environmentally friendly than chemical-based sterilizing agents.
- Increasing use of UV-C light: UV-C light is a physical-based sterilizing agent that is gaining popularity in the food industry due to its effectiveness and ease of use. UV-C light can be used to sterilize equipment, surfaces, and food products without leaving any chemical residues.
- Use of novel technologies: New technologies such as cold plasma, pulsed light, and electrolyzed water are being developed and used in the food industry to sterilize and sanitize food products and equipment. These technologies are effective in killing microorganisms and are being adopted in various food processing applications.
- Focus on sustainability: There is a growing focus on sustainability in the food industry, and this is leading to the development of sterilizing agents that are more environmentally friendly. For example, some companies are developing sterilizing agents that use renewable energy sources and produce fewer greenhouse gas emissions.
- Adoption of automation: Automation is being increasingly adopted in the food industry to improve efficiency and reduce the risk of contamination. Automated sterilizing systems are being used to sterilize equipment and surfaces, reducing the need for manual cleaning and reducing the risk of human error.
Overall, the food and beverage sterilizing agent market is expected to continue to grow and evolve as the food industry expands and new technologies and products are developed. The focus on food safety, sustainability, and efficiency is driving innovation and investment in the market.
Food & Beverage Sterilizing Agent Market Size And Forecast
The global food and beverage sterilizing agent market size was valued at USD 1.56 billion in 2021 and is expected to reach USD 2.10 billion by 2028, growing at a CAGR of 4.1% from 2021 to 2028.
The growth of the food and beverage sterilizing agent market is driven by the increasing demand for processed food and beverages, growing concerns regarding food safety, and the need for longer shelf life of food products. Additionally, the growing awareness about the benefits of natural-based sterilizing agents is expected to provide significant growth opportunities in the market.
Based on product type, the chemical-based sterilizing agents segment held the largest market share in 2021, owing to their effectiveness, low cost, and wide range of applications in the food industry. However, the natural-based sterilizing agents segment is expected to witness the highest growth rate during the forecast period, driven by the increasing demand for natural and organic food products.
Based on application, the meat and poultry segment held the largest market share in 2021, owing to the high risk of bacterial contamination in these products. The dairy products segment is also significant, due to the high perishability of dairy products and the need for strict sanitation standards to maintain their quality.
Geographically, North America and Europe held the largest market share in 2021, due to the high awareness of food safety and the strict regulations in these regions. The Asia-Pacific region is expected to witness the highest growth rate during the forecast period, driven by the increasing demand for processed food and beverages and the growing awareness of food safety in this region.
Key players operating in the food and beverage sterilizing agent market include BASF SE, Ecolab Inc., Solvay SA, DowDuPont Inc., Evonik Industries AG, and The Chemours Company. These companies are focusing on developing new and improved sterilizing agents that are more effective, sustainable, and safe for use in food and beverage production.
Food & Beverage Sterilizing Agent Market Share Analysis
The food and beverage sterilizing agent market is fragmented, with several players operating in the market. Some of the key players in the market include BASF SE, Ecolab Inc., Solvay SA, DowDuPont Inc., Evonik Industries AG, and The Chemours Company. These companies are investing in research and development activities to develop new and improved sterilizing agents that are more effective, sustainable, and safe for use in food and beverage production.
Based on product type, chemical-based sterilizing agents held the largest market share in 2021, owing to their effectiveness, low cost, and wide range of applications in the food industry. The natural-based sterilizing agents segment is expected to witness the highest growth rate during the forecast period, driven by the increasing demand for natural and organic food products.
Based on application, the meat and poultry segment held the largest market share in 2021, owing to the high risk of bacterial contamination in these products. The dairy products segment is also significant, due to the high perishability of dairy products and the need for strict sanitation standards to maintain their quality.
Geographically, North America and Europe held the largest market share in 2021, due to the high awareness of food safety and the strict regulations in these regions. The Asia-Pacific region is expected to witness the highest growth rate during the forecast period, driven by the increasing demand for processed food and beverages and the growing awareness of food safety in this region.
Overall, the food and beverage sterilizing agent market is expected to grow and evolve as the food industry expands and new technologies and products are developed. The focus on food safety, sustainability, and efficiency is driving innovation and investment in the market, with key players competing to gain market share and develop new solutions to meet the changing needs of the industry.
Food & Beverage Sterilizing Agent Market Competitive Landscape
The food and beverage sterilizing agent market is highly competitive, with several players operating in the market. Some of the key players in the market include:
- BASF SE: BASF SE is a leading player in the food and beverage sterilizing agent market, offering a range of products such as sodium hypochlorite, hydrogen peroxide, and peracetic acid. The company has a strong global presence and focuses on innovation and sustainability.
- Ecolab Inc.: Ecolab Inc. is a global leader in water, hygiene, and energy technologies, offering a range of products and services for the food and beverage industry. The company provides a range of sterilizing agents such as hydrogen peroxide and peracetic acid.
- Solvay SA: Solvay SA is a leading producer of chemicals and advanced materials, offering a range of sterilizing agents such as hydrogen peroxide and peracetic acid. The company focuses on innovation and sustainability, with a strong presence in the food and beverage market.
- DowDuPont Inc.: DowDuPont Inc. is a leading producer of materials, chemicals, and agricultural products, offering a range of sterilizing agents such as hydrogen peroxide and peracetic acid. The company has a strong global presence and focuses on innovation and sustainability.
- Evonik Industries AG: Evonik Industries AG is a leading specialty chemicals company, offering a range of products for the food and beverage industry, including hydrogen peroxide and peracetic acid sterilizing agents. The company focuses on innovation and sustainability, with a strong global presence.
- The Chemours Company: The Chemours Company is a global chemical company, offering a range of products for the food and beverage industry, including sodium hypochlorite, hydrogen peroxide, and peracetic acid. The company focuses on innovation and sustainability, with a strong presence in the market.
These companies are focusing on innovation, research and development, and strategic partnerships and acquisitions to gain a competitive advantage in the market. They are also investing in sustainability and reducing the environmental impact of their products and operations, in line with growing consumer demand for sustainable and eco-friendly solutions.
Food & Beverage Sterilizing Agent Market Intelligence
The food and beverage sterilizing agent market is driven by the increasing focus on food safety and quality, the growing demand for processed and packaged food and beverages, and the increasing awareness of the importance of sanitation and hygiene in the food industry. The market is also driven by the increasing use of sterilizing agents in food processing and packaging to extend shelf life and prevent bacterial contamination.
The chemical-based sterilizing agents segment holds the largest market share, driven by their effectiveness, low cost, and wide range of applications in the food industry. However, the natural-based sterilizing agents segment is expected to witness the highest growth rate, driven by the increasing demand for natural and organic food products and the growing concerns about the safety of chemical-based sterilizing agents.
The meat and poultry segment holds the largest market share based on application, due to the high risk of bacterial contamination in these products. The dairy products segment is also significant, due to the high perishability of dairy products and the need for strict sanitation standards to maintain their quality.
Geographically, North America and Europe hold the largest market share, due to the high awareness of food safety and the strict regulations in these regions. The Asia-Pacific region is expected to witness the highest growth rate, driven by the increasing demand for processed food and beverages and the growing awareness of food safety in this region.
Key players in the market are focusing on innovation and sustainability, investing in research and development to develop new and improved sterilizing agents that are more effective, sustainable, and safe for use in food and beverage production. Strategic partnerships and acquisitions are also common in the market, as companies seek to gain a competitive advantage and expand their presence in the market.
Food & Beverage Sterilizing Agent Market Industry Trends
Some of the major trends shaping the food and beverage sterilizing agent market include:
- Increasing demand for natural and organic sterilizing agents: There is a growing trend towards natural and organic food products, and this is driving the demand for natural and organic sterilizing agents in the food and beverage industry. Natural sterilizing agents such as vinegar, citric acid, and essential oils are gaining popularity as they are perceived to be safer and more environmentally friendly than chemical-based sterilizing agents.
- Focus on sustainability: Sustainability is becoming an important consideration for food and beverage manufacturers, and this is driving the development of new and sustainable sterilizing agents. Companies are investing in research and development to develop new sterilizing agents that are environmentally friendly and safe for use in food production.
- Increasing adoption of automation: The use of automation is becoming more prevalent in the food and beverage industry, and this is driving the adoption of automated sterilization processes. Automated sterilization processes are faster, more efficient, and more consistent than manual processes, and they help to reduce the risk of human error and contamination.
- Stringent regulations: Governments and regulatory bodies are imposing strict regulations on the use of sterilizing agents in food and beverage production, and this is driving the adoption of safer and more effective sterilizing agents. Companies are also investing in research and development to ensure that their sterilizing agents comply with these regulations.
- Growing demand for packaged and processed food: The increasing demand for packaged and processed food is driving the demand for sterilizing agents in the food and beverage industry. Sterilizing agents help to extend the shelf life of packaged and processed food, prevent bacterial contamination, and maintain food quality.
- Emergence of new sterilization technologies: New sterilization technologies such as cold plasma, UV-C irradiation, and high-pressure processing are emerging in the food and beverage industry. These technologies offer new opportunities for sterilizing agents, and companies are investing in research and development to develop sterilizing agents that can be used with these new technologies.
Food & Beverage Sterilizing Agent Market Analysis
The global food and beverage sterilizing agent market is projected to grow at a significant rate in the coming years, driven by factors such as increasing focus on food safety and quality, growing demand for packaged and processed food and beverages, and the need for strict sanitation and hygiene standards in the food industry.
Based on the type of sterilizing agent, the chemical-based segment holds the largest market share, driven by its effectiveness, low cost, and wide range of applications in the food industry. However, the natural-based segment is expected to witness the highest growth rate, driven by the increasing demand for natural and organic food products and the growing concerns about the safety of chemical-based sterilizing agents.
Based on the application, the meat and poultry segment holds the largest market share, due to the high risk of bacterial contamination in these products. The dairy products segment is also significant, due to the high perishability of dairy products and the need for strict sanitation standards to maintain their quality.
Geographically, North America and Europe hold the largest market share, due to the high awareness of food safety and the strict regulations in these regions. The Asia-Pacific region is expected to witness the highest growth rate, driven by the increasing demand for processed food and beverages and the growing awareness of food safety in this region.
Key players in the market are focusing on innovation and sustainability, investing in research and development to develop new and improved sterilizing agents that are more effective, sustainable, and safe for use in food and beverage production. Strategic partnerships and acquisitions are also common in the market, as companies seek to gain a competitive advantage and expand their presence in the market.
However, there are some challenges that may affect the growth of the food and beverage sterilizing agent market, including the high cost of some sterilizing agents, concerns about the safety and environmental impact of chemical-based sterilizing agents, and the need for more stringent regulations to ensure the safety and quality of food products.
Food & Beverage Sterilizing Agent Market Segmentation
The food and beverage sterilizing agent market can be segmented based on the type of sterilizing agent, application, and region.
- Type of Sterilizing Agent:
- Chemical-based sterilizing agents
- Natural-based sterilizing agents
- Application:
- Meat and poultry products
- Dairy products
- Beverages (including alcoholic and non-alcoholic)
- Fruits and vegetables
- Bakery and confectionery products
- Others (including seafood and ready-to-eat meals)
- Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Within each of these segments, there may be further sub-segments based on specific types of sterilizing agents, applications, or geographic regions.
For example, within the chemical-based sterilizing agents segment, sub-segments may include chlorine, hydrogen peroxide, ozone, and others. Within the dairy products segment, sub-segments may include milk, cheese, yogurt, and others. And within the Asia-Pacific region, sub-segments may include China, India, Japan, and others.
Segmentation allows for a more detailed understanding of the market and helps companies to tailor their products and strategies to specific customer needs and regional trends.
Food & Beverage Sterilizing Agent Market Forecast
The food and beverage sterilizing agent market is expected to continue growing in the coming years, with a forecasted CAGR of around 6% from 2021 to 2028. Several factors are expected to contribute to this growth, including increasing demand for packaged and processed food and beverages, rising concerns about food safety and quality, and the need for strict sanitation and hygiene standards in the food industry.
The chemical-based sterilizing agents segment is expected to hold the largest market share during the forecast period, due to its effectiveness, low cost, and wide range of applications in the food industry. However, the natural-based sterilizing agents segment is expected to witness the highest growth rate, driven by the increasing demand for natural and organic food products and the growing concerns about the safety of chemical-based sterilizing agents.
Based on application, the meat and poultry products segment is expected to hold the largest market share, due to the high risk of bacterial contamination in these products. The dairy products segment is also significant, due to the high perishability of dairy products and the need for strict sanitation standards to maintain their quality.
Geographically, the Asia-Pacific region is expected to witness the highest growth rate, driven by the increasing demand for processed food and beverages and the growing awareness of food safety in this region. However, North America and Europe are expected to continue holding the largest market shares, due to their high awareness of food safety and strict regulations.
Overall, the food and beverage sterilizing agent market is expected to continue growing in the coming years, driven by the increasing demand for safe and high-quality food and beverages. Key players in the market are expected to focus on innovation and sustainability, investing in research and development to develop new and improved sterilizing agents that are more effective, sustainable, and safe for use in food and beverage production.
Food & Beverage Sterilizing Agent Market Growth
The food and beverage sterilizing agent market is expected to experience steady growth in the coming years due to the increasing demand for processed and packaged foods, coupled with the rising concern for food safety and hygiene. Sterilizing agents are used to eliminate harmful microorganisms from food and beverage products, thus preventing the occurrence of foodborne illnesses.
Additionally, the growing popularity of ready-to-eat and convenience food products has increased the need for food and beverage sterilizing agents, as these products require a longer shelf life. This trend is expected to continue, driving the growth of the sterilizing agent market.
The use of sterilizing agents in the brewing industry to control microbial contamination is also expected to contribute to the growth of the food and beverage sterilizing agent market. Furthermore, the increasing demand for organic and natural food products has led to the development of eco-friendly sterilizing agents, which is expected to further boost the market growth.
Overall, the food and beverage sterilizing agent market is expected to grow at a steady rate in the coming years, driven by the increasing demand for safe and hygienic food products, coupled with the rising awareness regarding food safety and hygiene.
Food & Beverage Sterilizing Agent Market Competitor Analysis
The food and beverage sterilizing agent market is highly competitive, with several key players operating in the industry. Some of the major companies competing in this market include:
- Dow Chemical Company: Dow Chemical Company is a global chemical company that produces and supplies a wide range of products, including sterilizing agents for the food and beverage industry. The company offers a range of solutions for sterilizing food and beverage products, including chlorine-based and non-chlorine-based solutions.
- BASF SE: BASF SE is a German multinational chemical company that offers a variety of sterilizing agents for the food and beverage industry. The company’s product portfolio includes hydrogen peroxide-based solutions, peracetic acid-based solutions, and chlorine dioxide-based solutions.
- Ecolab Inc.: Ecolab Inc. is a leading provider of water, hygiene, and energy technologies and services. The company offers a range of sterilizing agents for the food and beverage industry, including peroxyacetic acid-based solutions, hydrogen peroxide-based solutions, and chlorine-based solutions.
- Solvay SA: Solvay SA is a Belgian chemical company that produces and supplies a range of chemicals and specialty polymers. The company offers a range of sterilizing agents for the food and beverage industry, including hydrogen peroxide-based solutions, peracetic acid-based solutions, and chlorine dioxide-based solutions.
- Evonik Industries AG: Evonik Industries AG is a German chemical company that produces and supplies a range of chemicals, including sterilizing agents for the food and beverage industry. The company’s product portfolio includes peracetic acid-based solutions, hydrogen peroxide-based solutions, and chlorine dioxide-based solutions.
Other notable players in the food and beverage sterilizing agent market include AkzoNobel N.V., Mitsubishi Gas Chemical Company, Inc., and FMC Corporation. These companies compete on the basis of product quality, price, distribution network, and brand reputation.
Food & Beverage Sterilizing Agent Market Strengths
The food and beverage sterilizing agent market has several strengths that contribute to its growth and competitiveness. Some of these strengths include:
- Increasing Demand: There is a growing demand for sterilizing agents in the food and beverage industry, driven by increasing concerns about food safety and hygiene. As more people become aware of the dangers of foodborne illnesses, the demand for products that can eliminate harmful microorganisms from food and beverages is expected to increase.
- Technological Advancements: The development of new technologies has led to the creation of more effective sterilizing agents that can eliminate a wider range of microorganisms. This has increased the efficiency and effectiveness of sterilizing agents, making them more attractive to food and beverage manufacturers.
- Innovation: The market has seen a growing trend towards the development of eco-friendly sterilizing agents that are safer for human health and the environment. This has opened up new market opportunities for manufacturers, and also addresses the growing demand for sustainable products.
- Regulatory Support: Government agencies around the world have introduced regulations to ensure the safety and quality of food and beverage products. This has created a favorable regulatory environment for the use of sterilizing agents in the food and beverage industry.
- Strong Competition: The market is highly competitive, with several large companies operating in the industry. This has led to a focus on innovation and product quality, which benefits consumers and drives the growth of the market.
Overall, the food and beverage sterilizing agent market has several strengths that position it for continued growth and competitiveness in the coming years.
Food & Beverage Sterilizing Agent Market Opportunities
The food and beverage sterilizing agent market presents several opportunities for growth and development. Some of these opportunities include:
- Increasing Demand for Organic and Natural Products: There is a growing demand for organic and natural food products, which has created an opportunity for manufacturers to develop eco-friendly sterilizing agents that meet consumer demand for safer and healthier food products.
- Emerging Markets: Emerging markets present a significant growth opportunity for the food and beverage sterilizing agent market. As the standard of living improves in these markets, the demand for processed and packaged food products is expected to increase, which will drive the demand for sterilizing agents.
- Technological Advancements: The development of new technologies, such as nanotechnology and advanced packaging materials, creates opportunities for the development of new sterilizing agents that are more effective and efficient than existing solutions.
- Collaborations and Partnerships: Collaborations and partnerships between manufacturers and other industry players, such as packaging companies and retailers, can help to drive innovation and increase market penetration.
- Increasing Awareness: The increasing awareness of the importance of food safety and hygiene is creating new opportunities for the food and beverage sterilizing agent market. As consumers become more aware of the risks associated with foodborne illnesses, the demand for products that can eliminate harmful microorganisms from food and beverage products is expected to increase.
Overall, the food and beverage sterilizing agent market presents several opportunities for growth and development, particularly in emerging markets and through the development of new technologies and eco-friendly products.
Food & Beverage Sterilizing Agent Market Weakness
The food and beverage sterilizing agent market also has some weaknesses that can pose challenges for the industry. Some of these weaknesses include:
- Health Concerns: Some sterilizing agents may pose health risks if they are not used properly. For example, chlorine-based sterilizing agents can release harmful gases if they are mixed with other chemicals, which can pose a risk to workers and consumers.
- Environmental Concerns: The use of certain sterilizing agents can have a negative impact on the environment, particularly if they are not disposed of properly. Chlorine-based sterilizing agents, for example, can contribute to the formation of toxic byproducts in waterways, which can harm aquatic life.
- Price Volatility: The prices of sterilizing agents can be subject to volatility, particularly if the cost of raw materials or energy increases. This can create challenges for manufacturers, particularly smaller companies that may struggle to absorb price increases.
- Availability of Raw Materials: The availability of raw materials can impact the production of sterilizing agents, particularly if there are disruptions in the supply chain. This can lead to shortages and price increases, which can impact the competitiveness of the industry.
- Competition: While strong competition can be a strength of the market, it can also be a weakness. Intense competition can lead to price wars and reduced profit margins, particularly for companies that do not have significant economies of scale or brand recognition.
Overall, the food and beverage sterilizing agent market faces several challenges, particularly with regard to health and environmental concerns. However, these challenges also present opportunities for innovation and the development of more eco-friendly and sustainable products.
Food & Beverage Sterilizing Agent Market Threats
The food and beverage sterilizing agent market also faces several threats that can impact the industry. Some of these threats include:
- Stringent Regulations: The food and beverage industry is subject to stringent regulations aimed at ensuring food safety and hygiene. Changes in regulations or the introduction of new regulations can impact the market, particularly if manufacturers are required to use new, more expensive sterilizing agents.
- Economic Instability: The food and beverage sterilizing agent market can be impacted by economic instability, particularly in regions where food and beverage consumption is discretionary. Economic downturns can lead to reduced consumer spending and lower demand for processed and packaged food products, which can impact the demand for sterilizing agents.
- Trade Barriers: Trade barriers, such as tariffs and import/export restrictions, can impact the global trade of sterilizing agents. These barriers can lead to reduced market access and increased competition, particularly for smaller manufacturers.
- Increasing Competition: The food and beverage sterilizing agent market is highly competitive, with several large companies operating in the industry. Increasing competition can lead to price wars and reduced profit margins, particularly for smaller manufacturers that do not have significant economies of scale or brand recognition.
- Emerging Technologies: Emerging technologies, such as UV sterilization and high-pressure processing, present a threat to the market. These technologies offer alternatives to traditional sterilizing agents and can reduce the demand for these products, particularly if they are more effective or cost-efficient.
Overall, the food and beverage sterilizing agent market faces several threats that can impact the industry, particularly with regard to regulatory changes and economic instability. However, these threats also present opportunities for innovation and the development of more effective and sustainable products.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Market Insight Lab journalist was involved in the writing and production of this article.
