Mold Inhibitors Market by Nature (Organic Cultured Wheat, Conventional Cultured wheat), by Application (Cultured Wheat for Baked Products, Cultured Wheat for Cheeses, Cultured Wheat for Meats, Cultured Wheat for Salad Dressings, Cultured Wheat for Condiments, Cultured Wheat for Dips and Spreads) and Region Global Forecast 2022 to 2032

Mold is an omnipresent type of fungus that typically grows on food products and can be harmful to human health if found in significant amounts. Molds are typically grown with high water content over the material, and aflatoxin is created by temperature. Mold inhibitors are the substance which inhibits or restrains mold formation.

Mold inhibitors include a wide family of propionates, sorbates, natamycin, benzoates, sulfites, acetates, and nitrites. Inhibitors of molds are used in various industrial end markets such as fruit, pharmaceuticals, animal feed, cosmetics & personal care, paper, paints, wood, and clothing.

Increasing customer appetite for longer food shelf-life fuels the need for mold inhibitors. However, rising concern for the health consequences caused by molds drives business development. Furthermore, the need for animal feed is rising increasingly due to the increasing demand for beef, which is stirring up the need for the consumers. Rising demand for drinks and baked snacks contributes highly to the development for mold inhibitors. However, effect on human health from some of the inhibitors is likely to hamper the market growth. Nevertheless, increased visibility and strong demand from the developing economies are projected to deliver sufficient opportunities for the mould inhibitors market.

Type Segment

Based on the type, the market is segmented into propionates, benzoates, sorbates, natamycin, and others. The natamycin type leads the market growth in 2019 and it is anticipated to hold its CAGR during the forecast years. Natamycin types of mold inhibitors are gaining traction in the food industry and is expected to continue the trend over the coming years. Moreover, the product is also widely in demand from the pharmaceuticals and the animal feed industry and is forecasted to provide a high growth rate in the global mold inhibitors industry.

Application Segment

In terms of the application segment, the market is segmented into food, animal feed, paints, pharmaceuticals, cosmetics & personal care, and others. In 2019, the animal feed segment accumulated the major share and is expected to continue the trend over the forecast years. In the food industry the global mould inhibitor market is expected to expand rapidly over the forecast period. It is being fueled internationally by the increasing popularity of drinks and baked goods. The key growth factors for the mould inhibitors market have been rising health issues from contact with moulds as well as increasing demand for food preservatives in the global industry.

The North America region dominated the overall market share with a CAGR of more than 3.2% in 2019 and it is projected to keep its position during the forecast years 2018-2028. The factors such as demographic growth and increasing urbanization throughout the country are expected to boost market development over the coming years. Asia Pacific region is projected to demonstrate a high rate of growth due to growing energy demand in emerging economies like China, India, Thailand, Japan, Indonesia, and Vietnam. Asia Pacific has one some of the fastest growing economies in the world as China and India. China and India, with a large number of manufacturing sectors is expected to have a fastest growth for the mold inhibitors in the Asia Pacific market.

Rising understanding of the health effects of mold-producing mycotoxins and increasing intake of comfort or packaged food goods in the region also propel the industry. Moreover, growing prospects are projected to increase the market size of mold inhibitors over the forecast period in emerging markets such as India, China and Brazil. The increase in demand for food preservatives and the mold-related health problems are some of the reasons responsible for the growth in market. Consequently, customers rely primarily on goods that have a longer shelf-life, without the risk of molding. However, the growing advertisements and regulations in the developed and developing economies for the use of mold inhibitors has increased the sales growth over the coming years.

The major players of the global mold inhibitors market are BASF SE, Koninklijke DSM N.V., Archer Daniels Midland Company, E. I. du Pont de Nemours and Company, and Associated British Food plc. Moreover, the market comprises several other prominent players in the mold inhibitors market as Handary SA, Niacet Corporation, Eastman Chemical Company, Kemin Industries Inc., Pacific Coast Chemicals, Hawkins Watts Limited. The mold inhibitors market consists of well-established global as well as local players. Additionally, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.