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
Industry 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 Industry. 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 Industry.
Moreover, increasing demand for food preservatives to overcome food spoilage is
projected to drive the growth of the global Mold Inhibitors Industry. 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 Industry is expected to grow at a CAGR of 3.3%
during the forecast period, 2017-2023.
Downstream analysis:
The global Mold Inhibitors
Industry 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 Industry
- 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
Industry is segmented into North America, Europe, Asia Pacific, and rest of the
world (RoW). The North American region is dominating the Mold Inhibitors
Industry 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 Industry during the
forecast period.
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