Market Overview:
Mold inhibitors are compounds which are added to products such as food, beverages, pharmaceutical drugs, cosmetics, and other products to restrict their spoilage from fungal growth. These preservatives are natural or synthetic in nature and used to increase the shelf-life of food products. It is added to the food product in small quantity as a preservative.
Transforming urban capes and lifestyle have increased the intake of food preservatives to support the changed eating patterns and ensure nutritional benefits. Mold inhibitors are the right component that can meet the requirements. An unprecedented surge can be witnessed in the global mold inhibitors market generated by sectors such as foods & beverages, bakery & confectionery, meat & meat products, and other food products in the lookout for an increased shelf-life. Fish industry is also experiencing a spurring growth as people have started consuming fish more for its nutritional value. This can result in aquaculture triggering a sizeable demand for the product. Apart from these industries, mold inhibitors enjoy significant demands from paints, cosmetics, pharmaceuticals, paper, wood, and leather industries which would inevitably boost the global market during the forecast period (2017-2023), explains Market Research Future (MRFR) in a detailed analysis.
However, a few market deterrents such as the fluctuating price of the raw materials and mold inhibitors’ mal-effect on the human body can restrain the market for a considerable time span. But with advanced technologies, the sector can expect some results that would definitely go in its favor.
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Top Key Players Analysis:
The market is witnessing huge potential in mergers and acquisitions, and key players have already started making their move. For instance, to expand the regional range, Kemin has acquired Agri-Marketing Corp and set up a base in Quebec, Canada. Archer-Daniels-Midland Company is also having a business discussion with French company Neovia and can acquire the latter to ensure strong portfolio.
Some of the key of the Global Mold Inhibitors Market are Niacet Corporation (U.S.), E. I. du Pont de Nemours and Company (U.S.), Associated British Foods Plc (U.K), Kemin Industries, Inc. (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), and Hawkins Watts Limited (New Zealand) and others.
Industry Trend:
Corbion has recently launched an organic vinegar product that utilizes clean-label buffer along with natural powder products branded as cultured sugar and vinegar. These products contain less sodium and enhance shelf-life protection. These ingredients also save products from pathogens.
Perstorp has recently launched Perfect Mixx, an organic acid-based additive which can help to gain better results in mold inhibition. The product uses esterified organic acids which enhances reliability.
Segmentation:
The global mold market inhibitor can be segmented by type, source, and application.
Type-wise segmentation includes natural, and synthetic. Synthetic is widely available and cost-effective, features that have helped it gain the premium position. However, ecological concerns have pushed the demand for natural molding inhibitors demand forward following which, it can enjoy a significant boost.
Source-based market segmentation comprises plant, micro-organism, animal and others. Animal-based segmentation is dominating the market. Meanwhile, plant for its easy availability is gaining much traction in recent times.
Based on application, the market is segmented into foods & beverages, animal feed, pharmaceuticals, cosmetics & personal care, and others. Food & beverage sector is dominating considerably owing to a demand for better shelf-life that is currently driving the market.
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Regional Analysis:
Geographically, the mold inhibitors market encircles Europe, North America, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is currently spearheading the market as countries such as the U.S. generates a huge amount of demand for food products with extended shelf-life. In addition, growing awareness of the natural mold products has also spurred the regional market.
The APAC follows the North American trend closely and assumes the second position. Countries in the region such as India, China, Japan and others are getting slowly exposed to packaged food that will propel the regional market growth. Furthermore, the packaging of seafood can also galvanize the market.
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