Mold Inhibitors Market Generated Opportunities, Future Scope 2024-2032

Mold Inhibitors Market Valuation – 2024-2031

The increasing need for mold inhibitors in the food industry, especially in bakery items, is primarily driving the growth of the mold inhibitors market, as producers strive to extend product shelf life and match consumer expectations for fresher, longer-lasting baked goods. According to the analyst from Market Research, the mold inhibitors market is estimated to reach a valuation of USD 2.36 Billion By 2031 over the forecast subjugating around USD 1.79 Billion in 2024.

The rising consumer awareness of hygiene and a move toward natural and less harmful mold inhibitors in a variety of industries, including food, pharmaceuticals, and construction, are driving the mold inhibitors market. It enables the market to grow at a CAGR of 3.5% from 2024 to 2031.

Mold Inhibitors Market: Definition/ Overview

Mold inhibitors are compounds that prevent or limit the growth of mold and fungi in various items, extending their shelf life and ensuring their safety. These inhibitors are extensively used in the food sector to protect perishable foods like baked goods and dairy products against mold infestation, which can cause spoiling and pose health risks due to mycotoxins. Mold inhibitors are also employed in animal feed to protect cattle from dangerous mold development and associated toxins, as well as in non-food industries such as medicines, cosmetics, and paints, where they assist in maintaining product integrity and prevent mold degradation.

What are the Key Drivers that Foster the Demand for Mold Inhibitors?

Mold inhibitors are in high demand due to rising food safety concerns and severe regulations. According to the World Health Organization (WHO), around 600 million people become unwell each year as a result of consuming tainted food, with foodborne dangers accounting for 420,000 deaths. This has resulted in tougher food safety rules, such as the Food Safety Modernization Act (FSMA) in the United States, which focuses on preventing food contamination, including mold growth.

The increased consumption of processed and packaged foods is driving the mold inhibitor industry. According to the Food and Agriculture Organization (FAO), the worldwide processed food market is predicted to reach USD 7.3 Trillion by 2026, with a 6.2% compound annual growth rate from 2021 to 2026. This growth drives the need for effective mold inhibitors to extend shelf life and maintain food quality.

Furthermore, the growing need for animal feed, which necessitates mold inhibitors to prevent contamination, is driving market expansion. The FAO estimates that worldwide feed output will need to expand by 70% by 2050 to fulfill the rising demand for animal products. The US Grains Council predicts that worldwide feed output reached 1.126 billion metric tons in 2019, indicating a substantial market for mold inhibitors in animal feed preservation.

What are the Challenges Hindering the Growth of the Mold Inhibitors Market?

Growing consumer desire for natural, organic, and clean-label products is limiting the use of synthetic mold inhibitors. Many customers dislike artificial additives, putting more pressure on food manufacturers to decrease or eliminate chemical preservatives. This tendency is driving corporations to seek alternate preservation methods or natural mold inhibitors, perhaps reducing the market for traditional synthetic solutions.

Furthermore, some mold inhibitors have been linked to potential health concerns or adverse effects when ingested in large doses or by sensitive people. These concerns contribute to a bad public perception and limited acceptability of products using specific mold inhibitors. As a result, food manufacturers must balance effective mold control with consumer safety concerns, which limit the use of particular mold inhibitors.

Category-Wise Acumens

What Factors Contribute to the Market Leadership of Propionate Mold Inhibitors?

According to analysis, the propionate segment is estimated to hold the largest market share during the forecast period. Propionates provide great protection against a variety of molds, yeasts, and bacteria. Their ability to inhibit a wide range of bacteria makes them ideal for usage in a variety of food products. This broad-spectrum efficacy enables extended shelf life and higher quality preservation across a variety of food categories, resulting in widespread use in the market.

Propionates are inexpensive to make and widely available, making them an affordable option for food manufacturers. Their cost-effectiveness, paired with their demonstrated efficacy, enables businesses to retain product quality while controlling manufacturing costs. This balance of performance and affordability is critical to their market domination.

Furthermore, propionates have a long history of safe use and have been approved by various regulatory agencies across the world, including the FDA and EFSA. They are generally recognized as safe (GRAS) and have little effect on taste or odor when used at the appropriate doses. This regulatory acceptability and customer familiarity help to explain their broad use in a variety of food applications.

What are the Key Driving Forces that Drive the Usage of Mold Inhibitors in the Food & Beverage Industry?

The food & beverages segment is estimated to dominate the mold inhibitors market during the forecast period. The growing global consumption of processed and packaged foods is driving up demand for mold inhibitors in the food and beverage industry. With busy lifestyles and urbanization, customers are depending increasingly on convenience foods that require a longer shelf life. Mold inhibitors are essential for keeping these items while also assuring food safety and quality.

Stricter food safety laws are being implemented by governments across the globe to stop foodborne infections. These regulations frequently require the use of preservatives, particularly mold inhibitors, in certain food products. As food manufacturers work to meet these criteria, the demand for effective mold inhibitors in the food and beverage industry continues to climb.

Furthermore, food rotting due to mold growth causes considerable economic losses for the food and beverage industries. Mold inhibitors help to prevent these losses by prolonging product shelf life while maintaining quality. This economic incentive encourages food manufacturers to include mold inhibitors in their products, which contributes to the segment’s market domination.

Gain Access to Mold Inhibitors Market Report Methodology

Country/Region-wise Acumens

What Drivers Contribute to the Sustained Dominance of North America in this Market?

According to analyst, North America is estimated to dominate the mold inhibitors market during the forecast period. North America has some of the world’s strongest food safety rules, which is increasing the use of mold inhibitors. According to the US Food and Drug Administration (FDA), there were 526 food recalls in 2019, with mold contamination playing a key role. Between 2011 and 2019, the FDA’s Food Safety Modernization Act (FSMA) increased food facility inspections by 34%, prompting food manufacturers to invest in effective mold control techniques.

The growing number of food allergies in North America is pushing demand for safer food preservation technologies, such as mold inhibitors. According to the Centers for Disease Control and Prevention (CDC), food allergies affect approximately 8% of children in the United States, or one in every thirteen, as well as roughly 4% of adults. This increasing awareness of food safety is propelling the mold inhibitors market growth in the region.

Furthermore, the North American processed food industry is rapidly expanding, increasing the need for mold inhibitors. According to the United States Department of Agriculture (USDA), the US processed food market was worth $950 billion in 2019 and is expected to reach USD 1.2 Trillion by 2025, rising at a 4.3% CAGR. This growth is projected to increase the demand for effective food preservation procedures, such as the use of mold inhibitors to extend shelf life and maintain product quality.

What are the Factors Leading to Significant Share in the Asia Pacific Region?

The Asia Pacific region is estimated to dominate the market during the forecast period. The Asia Pacific region’s food processing sector is rapidly expanding, pushing up demand for mold inhibitors. According to the Food and Agriculture Organization (FAO), Asia’s food processing sector is expected to grow at a 7.4% CAGR from 2020 to 2025, with a market value of USD 3.2 Trillion by 2025. This expansion necessitates a greater usage of mold inhibitors to assure food safety and shelf life.

The expanding population and changing dietary habits in the Asia Pacific are boosting the processed food market, which is driving the mold inhibitors market. The United Nations predicts that Asia and the Pacific’s population will grow from 4.3 billion in 2020 to 4.7 billion by 2050. According to the Asia Pacific Food Industry report, the region’s processed food market is estimated to reach $3.5 trillion by 2024, rising at a CAGR of 5.4% between 2019 and 2024, indicating a significant market for mold inhibitors.

Furthermore, the growing concerns about food safety, as well as the implementation of stronger laws, are driving the Asia Pacific mold inhibitor market. According to the World Health Organization (WHO), the Western Pacific Region, which encompasses much of Asia, has more than 125 million cases of foodborne illness each year. In response, countries such as China have enacted new food safety legislation, with the Chinese government increasing food safety violation fines by up to tenfold in 2019, accelerating the adoption of mold inhibitors in food manufacturing.

Competitive Landscape

The mold inhibitors market’s competitive landscape is distinguished by a mix of established and rising competitors, resulting in a dynamic environment in which innovation and product differentiation are critical. Key factors affecting competitiveness include the development of improved formulations that improve efficacy while reducing health hazards, as well as customers’ increased preference for natural and organic treatments.

Some of the prominent players operating in the mold inhibitors market include:

• BASF
• Koninklijke DSM
• Archer Daniels Midland
• Associated British Foods
• I. DU Pont De Nemours
• HANDARY
• Hawkins Watts
• Kemin Industries
• NIACET
• Pacific Coast Chemicals

Latest Developments

• In November 2022, BASF and G-Philos expanded their cooperation on stationary storage solutions for renewable energy projects.
• In November 2022, BASF introduced Thermoplastic Polyurethane (TPU) 1180A10WDM, a new grade specifically designed for rapid charging cables.

Report Scope

Mold Inhibitors Market, By Category

Type:

• Propionates
• Sorbates
• Benzoates
• Parabens
• Others

Application:

• Animal Feed
• Pharmaceuticals
• Cosmetics and Personal Care
• Food and Beverages
• Others

Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Research Methodology of Market Research:

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