28-Nov-2024 | Zion Market Research
According to a report from Zion Market Research, the global Mold Inhibitors Market was valued at USD 1379.04 Million in 2023 and is projected to hit USD 2345.73 Million by 2032, with a compound annual growth rate (CAGR) of 6.08% during the forecast period 2024-2032.
Mold can grow almost everywhere and cause spoilage of food and cosmetic products. It can be deadly to people with mold allergies. But mold isn't just in dangerous things like mushrooms, blue cheese and black pepper; mold is also found in some common foods. Although some mold spores are dangerous, most mold is actually harmless; some molds even make certain foods taste better. The problem arises when these mold spores spread through moist air or water into other food where they begin to grow and digest nutrients like starch or sugars. This process of consuming an ingredient while growing mold can change the mold spores into toxins or allergenic chemicals. When molded food is eaten it can even be deadly, so mold must be removed from foods before they are sent to market.
Global Mold Inhibitors Market: Growth Factors
The food processing industry has been evolving at an unprecedented pace since the mid-20th century. In the early decades, food processing was mainly done in homes and farms with a relatively small number of large-scale industrial production facilities that used days or weeks to produce a few product types. Today, however, innovative technologies have created a significant shift away from traditional practices towards more efficient and profitable methods. The most notable of these is "just in time" delivery - essentially waiting until you need something before going out to get it.
Also popular are the economies of scale fostered by mass production; large corporations can take advantage of their size to offer lower prices which benefit both producers (through increased sales) and consumers (by having access to a wider variety of foods at lower prices). And in no small part, the rising incomes and increased availability of refrigerators in homes across the country have contributed to giving billions access to an ever-growing spectrum of food options.
Global Mold Inhibitors Market: Segmentation
On the basis of application, the market is segmented into feed & food, pharmaceuticals, cosmetics & personal care, and others. The use of mold inhibitors in food and feed is a well-known practice because of the intrinsically high count of microorganisms, which could affect their safety and quality. In this regard, there are several types of chemicals that can be used as molded inhibitors. Additionally, some mold inhibitors are categorized in the U.S Food Additive list under "regulation by processing method" or GRAS notice which means they are generally recognized as safe.
For example, sodium benzoate is allowed with a maximum level of 0.1% for meat product, poultry products at 2%, milk 0.5%, fish with 3%, fruits canned with 4.5%, jam and jelly with 6% and fruit juices canned with 8%. One mold inhibitor that is allowed by the U.S Food Additive list under "regulation by processing method" is nisin, which can be used up to 200 ppm in cheese products such as mold-ripened cheese and processed cheese food. Thus, it is anticipated to grow Mold Inhibitors Market in near future over the forecast period.
Global Mold Inhibitors Market: Regional Analysis
North America region accounting majority share in global mold inhibitors market due to improving economic condition along with increasing pharmaceutical industry which creates optimal conditions for usage of cosmetic preservatives thereby driving the market demand. However, environmental concerns over usage of these chemicals may pose a threat towards growth in near future. North America is one of the most significant manufacturers and users of mold inhibitors across the globe. The North American market for mold inhibitors is expected to witness a steady growth due to increasing demand from end-use industry such as pharmaceuticals, cosmetics, personal care, and food industry. The growing number of M&A activities in manufacturing and service sectors will further bolster the demand for mold inhibitors during the forecast period.
APAC emerging markets are expected to witness high growth on account of rapid development and increase in consumer spending, especially in countries such as Thailand and China. With growing consumer awareness about hygiene, manufacturers are focusing towards research & development for producing biological inhibitors with low toxicity thereby reducing the harmful effect of chemicals on human body. Growing R&D expenditure by players is also anticipated to boost mold inhibitor market. The Asia pacific region accounts for more than one third of global consumption on paper and paperboard products;
however, this region lags behind the US and Europe in terms of product penetration and usage on a per capita basis. in addition, the region is holding the largest share of the global market on account different factors such as rapidly growing personal care and cosmetic industry, well-established pharmaceutical sectors, rapidly expanding construction sector wherein the product is used in paints to prevent the mold growth, and large population base responsible high demand for food. The region is anticipated to have the fastest growth during the forecast period.
Browse the full “Mold Inhibitors Market - By Type (Benzoates, Natamycin, Propionates, Sorbates, And Others), By Application (Animal Feed, Food Industry, Pharmaceuticals, Cosmetics & Personal Care, And Others), And By Region: Global Industry Perspective, Comprehensive Analysis And Forecast 2023 - 2032.” Report at https://www.zionmarketresearch.com/report/mold-inhibitors-market
Koninklijke DSM N.V, BASF SE, DuPont, Handary SA, Hawkins Watts Limited, Kemin Industries Inc., Niacet Corporation, Ravago chemicals, Eastman Chemical Company are the key players in the global Mold Inhibitors Market.
Global Mold Inhibitors Market: Regional Segment Analysis
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