Mold Inhibitors Market Size is anticipated to reach USD 2282.4 Million by 2030, registering a CAGR of 3.54% during 2022-2030.
Mold inhibitors market is expected to garner a revenue of USD 2282.4 million by 2030 and register a CAGR of 3.54% during the forecast period of 2022 to 2030. The rise in concern for eating healthy and hygienic food has increased the demand for preservatives. The preservatives help preserve food for a longer time and prevent it from harmful factors such as the growth of bacteria and fungus due to other physical factors like temperature, pressure, etc. The mold inhibitors are natural preservatives that help control the growth of mold and other microbes, and it prolongs the shelf life of the food product. Therefore, the mold inhibitors market is emerging due to its preservation quality. Mold inhibitors can be both synthetic and natural, and it is added in a small amount in food products.
The global concern about maintaining healthy food habits among every age group diversifies the market size. Different growth factors are accelerating the Mold inhibitors market Share at the global level. The increased demand for convenience food raises the market value. As food habits change day to day, different processed and preserved food items grow due to high consumption. Preservatives must be added to these food items to increase their life span. Most food products get spoiled due to a lack of proper preservation quality. The rise in demand for preservation products by the food industries worldwide is boosting the growth of the market growth. The baking and dairy industries mostly need these inhibitors to prolong the shelf life of bread, cake, and other baking products. These food items usually get prone to microbes such as fungus and bacteria in a very short period. People always prefer to purchase bakery products with a good shelf-life because these are widely used for breakfast and lunch. Therefore, preservation products are highly used in these food products. These factors are propelling the Mold inhibitors market Growth.
The scientific development of various preservation processes to meet food industries' demand is another emerging factor of the mold inhibitors market. In the future, the market will grow higher with its rising opportunities.
The Mold inhibitors market Analysis had a mixed impact on its growth rate during the pandemic. Due to the shutdown of operations and processing units of the food industry, the market faced financial loss. The production and delivery of products were even halted. These factors affected the food industry, which simultaneously showed the impact on the market.
But wide consumption of bakery and dairy products across various regions to restore the growth rate of the Mold inhibitors market. The awareness and concern to stay healthy and avoid contaminated food, especially during the virus outbreak, will help the market get back to its position and successfully achieve the estimated CAGR.
Chief Factors Existing in The Market
The chief drivers of the Mold inhibitors market are to accelerate its growth value at the global level. The bakery and dairy industries are considered the key drivers of the market because of mold inhibitors in bread, cake, cookies, and other baking items. The increase in demand for preservatives to overcome spoilage of food and its contamination enhances the use of mold inhibitors. The new development of scientific preservation techniques to prevent food from microbial growth is another chief driving factor.
The Mold inhibitors market faces challenging factors affecting the market’s growth rate. The increasing demand for healthy food and preservation by the growing population is challenging because it is impossible to meet the demand at once. But the player’s strategies will gradually help the market overcome this factor.
The Mold inhibitors market Analysis is getting worldwide attention due to its effective measures. The value-based benefits associated with the usage of mold inhibitors hugely support the sale of natural mold inhibitors—the global concern to avoid consuming contaminated food to prevent food-borne illness fuels the Mold inhibitors market.
The Mold inhibitors market is coming across restraining factors hampering the growth rate. The excessive use of preserving products in the food can be harmful to the human body, a major constraint of the market.
Cumulative Evaluation of The Market
The evaluated report states the chief existing factors and their role in the market. The drivers are withstanding to accelerate the market value. The market faced challenges due to the COVID-19 pandemic, which affected its economy, but further, the market is noticed to recover due to its huge growth opportunities. The growth limiting factors are even considered to stop its negative impact. Therefore, the Mold inhibitors market will successfully witness its CAGR during the review period.
The mold inhibitor's market size is segmented based on type, source, and application. These major segments are further sub-segmented into various categories.
The market type segment is divided into natural and synthetic. The synthetic segment holds the largest market share due to its wide range of applications and cost-effective factors.
The Mold inhibitors market consists of plants, animals, microbes, and others. Among all these, the animal segment is considered the dominating segment, but the plant segment grows steadily due to economic price.
The application segment of the mold inhibitors market is categorized into food & beverages, pharmaceuticals, animal feed, cosmetic and personal care, and others. The food and beverages segment is the dominating segment due to its widespread usage worldwide. This segment's bakery and confectionery products are emerging the mold inhibitors market Value.
The mold inhibitors market forecast shows its regional growth in major regions such as North America, Europe, Asia Pacific, and the rest of the world. Among the above major regions, the North American market is the dominant region due to increased awareness to promote the shelf life of the food products, especially in the US region. The higher growth of convenience food products is also driving the regional market of the region. The other factors propelling the North American Market are the growth of consumer awareness and the wide application of natural mold inhibitors in the region.
The Asia Pacific region is showing a good growth rate due to the huge demand for mold inhibitors in the banking industry. The bakery products are widely used in major countries such as India, China, and Japan, which is boosting the regional market of the Asia Pacific region.
Competitive Intensity within The Industry
The major players of the mold inhibitors market outlook are helping the market to propagate at the global level. The key strategies implemented by these players will help the market continue its growth consistency so that it can successfully achieve its expected CAGR. The presence of key players in major regions accelerates the regional markets. Following is the list of key players of the mold inhibitors market Analysis.
Recent Market Developments
The report of the mold inhibitors market displays the importance of mold inhibitors in various food industries. The growth factors boosting up the market growth were featured with their advantages. The key drivers and the growth opportunities are propelling the mold inhibitors market trends. The segmentation report stated the major segments and their sub-segments and their progress, and the geographical status shows the regions covered by the market.
Further, the market continues its significant growth due to its governing factors and opportunities. The presence of key players will enhance the mold inhibitors market Trends. In the future years, the market will succeed by reaching its CAGR value.
Key Industrial Segments
|Market Size||USD 2282.4 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, Source, Application, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Associated British Foods Plc (U.K), Kemin Industries, Inc. (U.S.), E. I. du Pont de Nemours and Company (U.S.), Niacet Corporation (U.S.), BASF SE (Germany), Eastman Chemical Company (U.S.), Koninklijke DSM N.V. (the Netherlands), Handary SA (Belgium), Archer-Daniels-Midland Company (U.S.), Hawkins Watts Limited (New Zealand)|
|Key Market Opportunities||The usage of mold inhibitors hugely support the sale of natural mold inhibitors|
|Key Market Drivers||Increase in demand for preservatives to overcome spoilage of food, New development of scientific preservation techniques to prevent food|
Mold inhibitors market is projected to grow at a 3.54% CAGR between 2022-2030.
Notable players profiled in the mold inhibitors market include Associated British Foods Plc (U.K), Kemin Industries, Inc. (U.S.), E. I. du Pont de Nemours and Company (U.S.), Niacet Corporation (U.S.), BASF SE (Germany), Eastman Chemical Company (U.S.), Koninklijke DSM N.V. (the Netherlands), Handary SA (Belgium), Archer-Daniels-Midland Company (U.S.), Hawkins Watts Limited (New Zealand).
Food and beverages will lead the mold inhibitors market.
Value-added benefits and demand for food preservatives are the key factors driving the mold inhibitors market growth.
North America is expected to dominate the mold inhibitors market.