Mold Inhibitors Market Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2023

Market Scenario:

Mold inhibitors are compounds which are added to products such as food, beverages, pharmaceutical drugs, cosmetics, and other products to restrict their spoilage from fungal growth. These preservatives are natural or synthetic in nature and used to increase the shelf-life of food products. It is added to the food product in small quantity as a preservative.

The global mold inhibitors market is growing due to rising consumer awareness and their increasing interest in healthy eating pattern, thus, increasing the demand for food preservatives. In addition to increasing demand for convenience food, foods & beverages, bakery & confectionery, meat & meat products, and other food products are expected to drive the growth of the mold inhibitors market. Additionally, value-added benefits such as prevention of food spoilage and lengthier shelf-life associated with the use of mold inhibitors are also supporting the sale of mold inhibitors globally.

Furthermore, the global mold inhibitors market is increasing due to high demand for food preservatives in the bakery & confectionery industry. Additionally, the development of new product coupled with scientific advancements is considered to be one of the major reasons for the increasing growth of the mold inhibitors market during the review period.

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Key Players:

Some of the key players profiled in the global mold inhibitors market: E. I. du Pont de Nemours and Company (U.S.), Associated British Foods Plc (U.K), Kemin Industries, Inc. (U.S.), Niacet Corporation (U.S.), Archer-Daniels-Midland Company (U.S.), BASF SE (Germany), Eastman Chemical Company (U.S.), Handary SA (Belgium), Koninklijke DSM N.V. (the Netherlands), and Hawkins Watts Limited (New Zealand)

Key Findings:

Asia Pacific region is found to be an emerging market for mold inhibitors

Natural mold inhibitors have a significant opportunity in the foods and beverages industry

Aug 2017, Corbion has launched the meat industry's first clean-label antimicrobial product that rivals potassium sorbate for mold inhibition, even in applications most vulnerable to mold.

Segments:

The global mold inhibitors market is segmented into type, source, and application.

On the basis of the type, it is segmented into natural, and synthetic. Among the both, the synthetic type holds the major market share owing to its wide range product applicability and low cost. However, the increased awareness on the side-effects of synthetic mold inhibitors, a high demand for natural mold inhibitors is observed over the forecast period.

On the basis of the source, it is segmented into plant, animal, micro-organism, and others. The animal segment is dominating the market. Economical price and ease of handling have uplifted the demand for plant-derived mold inhibitors.

On the basis of the application, the mold inhibitors market is segmented into foods & beverages, animal feed, pharmaceuticals, cosmetics & personal care, and others. Among all, the foods & beverages segment is dominating owing to the high use of mold inhibitors in bakery and confectionery products for extending the shelf-life.

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Regional Analysis:

The global mold inhibitors market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is dominating the mold inhibitors market followed by Asia Pacific. The U.S. registered for a higher consumption of mold inhibitors owing to increasing awareness about the benefits of using mold inhibitors to extend the products shelf-life. Additionally, increasing demand for convenience foods and food products with a longer shelf-life is majorly driving the market growth in this region.

Also, growing consumer awareness and inclination towards natural mold inhibitors are experiencing a huge demand in the North American market. Furthermore, increasing demand for mold inhibitors in bakery & confectionery products in developing countries such as India, China, and Japan are likely to boost the growth of the mold inhibitors market during the forecast period.