Mold Inhibitors Industry In-Depth Assessment and Opportunity Analysis with Top Countries Data

Mold inhibitors are defined as the compounds which are added to various products (usually perishable items) in order to prevent them for rot and from getting spoiled due to fungal growth. Market Research Future (MRFR) has published a research report on the global mold inhibitors industry that anticipates rise for this market at 3.54% CAGR (Compound Annual Growth Rate) between 2020 and 2030.
The key factors responsible for the global mold inhibitors market growth include rising consumer awareness, changing lifestyle, increasing consumer interest in healthy eating pattern, and thus, increasing the demand for food preservatives. Other factors supportive of market growth are increasing demand for convenience food, value-added benefits, and longer shelf-life due to mold inhibitors.
Market Segmentation
The global Mold Inhibitors Industry has been segmented into application, source, type, and lastly, region. The application-based segmentation of this market covers animal feed, cosmetics & personal care, foods & beverages, pharmaceuticals, and others. Among these, foods & beverages segment is dominating the market because the use of mold inhibitors in bakery and confectionery products extends the shelf-life.
On the basis of sources, the market has been segmented into animal, plant, micro-organism, and others. Right now, the animal segment is dominating the market, and the status quo expects to remain the same during the forecast period. However, economical price and ease of handling have raised the demand for plant-derived mold inhibitors.
By type, the market has been segmented into natural and synthetic. Among these segments, the synthetic type holds the major mold inhibitors market share due to its wide range of product applicability and low cost. However, the increased awareness consumers with regards to the side-effects of synthetic mold inhibitors, the demand for natural mold inhibitors is expected to grow during the forecast period.
Regional Segmentation
The regional segmentation of the global mold inhibitors market segments the global market into regional markets namely the Asia Pacific, North America, Europe, and rest of the world (RoW). North America is the largest regional market, followed by the Asia Pacific region. In North America, USA has a higher consumption of mold inhibitors due to the increasing awareness about the benefits of using mold inhibitors that can extend the shelf-life of products. The increasing demand for convenience foods and food products with a longer shelf-life is the prime reason for the market growth in the USA. Another reason responsible for market growth in USA (and in North America in general) is the growing consumer awareness and inclination towards natural mold inhibitors that is raising the demand for such inhibitors. Other country-specific markets in this region are Canada and Mexico. Many key market players are based in North America, especially in the USA.
In the Asia Pacific region, the growing population is creating a market for food products in this region. Increasing demand for mold inhibitors in bakery & confectionery products in developing countries like China, India, and Japan can boost the growth of the mold inhibitors market during the forecast period.
Europe is the third significant regional market. In this region, high density of population, health-conscious lifestyle among consumers, government regulations regarding food quality standards can aid the market growth. In Europe, the primary country-specific markets are France, Germany, Italy, and the UK. Corbion has launched Verdad MP100, that is a combination of vinegar and natural flavor. It matches the mold-inhibiting functionality and flavor neutrality of calcium propionate.
Key Players
The key players in the global mold inhibitors market include Archer-Daniels-Midland Company (USA), Associated British Foods PLC (UK), BASF SE (Germany), Eastman Chemical Company (USA), E. I. du Pont de Nemours and Company (USA), Handary SA (Belgium), Hawkins Watts Limited (New Zealand), Kemin Industries Inc. (USA), Koninklijke DSM N.V. (the Netherlands), and Niacet Corporation (USA).
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