The rising demand for extended shelf life for products from consumers is expected to provide opportunities for the mold inhibitors market growth
The global mold inhibitors market size is projected to reach nearly USD 2.4 billion by 2028. Additionally, the market is forecasted to grow a CAGR of above 3.4% over the forecast period of 2020-2028. Rapid industrialization around the globe is projected to boost the demand along with the growing need of healthy food products in the global market. The high growth of the industrial sector across the rapidly growing economies, including China, Indonesia, South Korea and India, is expected to fuel demand in the industry. Mold inhibitors are additives which help to prevent mold contamination and proliferation in different products. They also tend to reduce the ill-health effects of mold-producing mycotoxins. The use of mold inhibitors increases the product's shelf-life and allows versatility in moisture preservation and food and feed products management.
The report also outlines the various characteristics of the global mold inhibitors industry by assessing the market from value chain analysis. Moreover, the mold inhibitors market report comprises various qualitative parts of the mold inhibitors industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
The mold inhibitors market has huge competition amongst the already well-known and new market players. Also, the mold inhibitors industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
The Asia-Pacific region is projected to accumulate the highest growth during the forecast years. The Asia Pacific market for mold inhibitors is expected to contribute significant market revenue shares, which can be attributed to increased adoption of new technologies and growing animal feed and food products demand in the regional sector. China is expected to lead the Asia-Pacific market by increasing infrastructure projects, widening the demand-supply gap in food, expanding manufacturing facilities nationwide, and increasing consumer product sectors among different applications. The country benefits from low cost and high efficiency of the mold inhibitors with improved use of resources boosting demand for products in Asia Pacific.
The major players of the global mold inhibitors market are Koninklijke DSM N.V., Archer Daniels BASF SE, Midland Company, Associated British Food plc and E. I. du Pont de Nemours and Company. Moreover, the market comprises several other prominent players in the mold inhibitors market as Niacet Corporation, Eastman Chemical Company, Handary SA, Kemin Industries Inc., Hawkins Watts Limited and Pacific Coast Chemicals. The mold inhibitors market comprises well established local as well as global players. However, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.
Segment Overview of Global Mold Inhibitors Market
Type Overview, 2018-2028 (USD Billion, Million Tons)
Application Overview, 2018-2028 (USD Billion, Million Tons)
- Animal Feed
- Cosmetics & Personal Care
Regional Overview, 2018-2028 (USD Billion, Million Tons)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America