Market Overview:
Mold inhibitors are natural or synthetic compounds which are primarily added to food products in order to restrict fungal growth such as molds. They are used to preserve flavor, taste, and other food qualities. Also, mold inhibitors help in reducing the spoilage caused by fungi which increases the product shelf-life. Mold inhibitors naturally absorb the moisture or water content from the food matrix and restrict the fungal growth.
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Market Forecast:
The global Mold Inhibitors Market is growing due to increasing population coupled with increasing demand for food. In addition to the shifting eating pattern, the growing demand for foods, beverages, confectionery, and other food products is expected to drive the growth of Mold Inhibitors Market. Also, value-added benefits associated with the use of mold inhibitors is also supporting the sale of natural mold inhibitors globally.
Furthermore, increasing awareness regarding health benefits such as prevention from diseases such as food-borne illness is likely to boost the growth of global Mold Inhibitors Market. Moreover, increasing demand for food preservatives to overcome food spoilage is projected to drive the growth of the global Mold Inhibitors Market. The market players are responding to these new opportunities by expanding their product lines, which has boosted the share of the mold inhibitors in the global market. The global Mold Inhibitors Market is expected to grow at a CAGR of 3.3% during the forecast period, 2017-2023.
Downstream analysis:
The global Mold Inhibitors Market is segmented into type, source, and application.
Because of the type, it is segmented into natural, and synthetic. Among the both, synthetic type holds the major market share owing to its wide range of product applicability and low cost.
Based on the source, it is segmented into plant, animal, micro-organism, and others. The animal segment is dominating the market.
Based on the application, the Mold Inhibitors Market is segmented into foods & beverages, animal feed, pharmaceuticals, cosmetics & personal care, and others. Among all, foods & beverages segment is dominating.
Competitive analysis:
The major players in the Mold Inhibitors Market
• 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)
• Hawkins Watts Limited (New Zealand)
Regional Analysis:
The global Mold Inhibitors Market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The North American region is dominating the Mold Inhibitors Market followed by Asia Pacific owing to rising population followed by increasing consumption of food & beverages products in both the regions.
Moreover, high demand for mold inhibitors to restrict food spoilage, and also, providing lengthier shelf-life is majorly driving the market growth of Asia Pacific region and is further anticipated to uplift the growth of Mold Inhibitors Market during the forecast period.
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