The global mold inhibitors market revenue is projected to reach close to USD 2.4 billion by 2028. This can be attributed to increases in growth for the food preservatives industry to prevent the contamination from the molds in different types of molded products. Moreover, the product also helps to enhance the shelf life of the end products are some of the other factors to anticipate the increasing demand in the global market.
Mold inhibitors also helps to avoid health issues such as skin inflammation, complications with the lungs and dysfunction of the gut flora. Moreover, mold inhibitors perform different roles and have a number of uses in the food & non-food sectors. Mold inhibitors are primarily used for food and milk industry. Other sectors such as paint, and cosmetics and pharmaceuticals are also forecasted to provide a high growth rate over the coming years. The global food and non-food sectors are increasingly adopting the use of mold inhibitors in light of their various advantages. Mold inhibitors are chemicals used to mitigate mold penetration and avoid mold growth in products for a number of industries, including food , feed, paint, wood and many more
Key Segments of the Global Mold Inhibitors Market
Type Overview, 2018-2028 (USD Billion, Million Tons)
- Propionates
- Benzoates
- Sorbates
- Natamycin
- Others
Application Overview, 2018-2028 (USD Billion, Million Tons)
- Food
- Animal Feed
- Paints
- Pharmaceuticals
- Cosmetics & Personal Care
- Others
Regional Overview, 2018-2028 (USD Billion, Million Tons)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global mold inhibitors market.
- Mold inhibitors is widely used for various end uses in food & animal feed sectors owing to their excellent properties and the market is expected to gain traction over the coming years
- With the growing cosmetics & personal care industry, there is a rise in the demand for mold inhibitors which is further expected to have a positive impact on the overall market growth
What does the report include?
- The study on the global mold inhibitors market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the mold inhibitors industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on type and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global mold inhibitors market. The report will benefit: Every stakeholder involved in the mold inhibitors market.
- Managers within the mold inhibitors industry looking to publish recent and forecasted statistics about the global mold inhibitors market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global mold inhibitors market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
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.