Mold Inhibitors Market Revenues Projected, Trends, Key Companies & Growth 2027
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.
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.
On the basis 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.
On the basis of the source, it is
segmented into plant, animal, micro-organism, and others. The animal segment is
dominating the market.
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, foods
& beverages segment is dominating.
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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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