Mold Inhibitors Market Worth 1.83 Billion USD by 2020

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Sep 23, 2015, 11:00 ET

PUNE, India, September 23, 2015 /PRNewswire/ --

The report "Mold Inhibitors Market by Type (Propionates, Benzoates, Sorbates, Natamycin, and Others), Application (Food, Animal Feed, Paints, Pharmaceuticals, Cosmetics & Personal Care, and Others), & by Region - Global Forecast to 2020", published by MarketsandMarkets, The market for Mold Inhibitors is projected to reach USD 1.83 Billion by 2020 at a CAGR of 3.0% between 2015 and 2020.

Browse 95 market data Tables and 92 Figures spread through 159 Pages and in-depth TOC on "Mold Inhibitors Market".

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The market report defines and segments the market on the basis of type, application, and region, along with analyses and projections of the market size of each of these segments in terms of value and volume. It also identifies the driving and restraining factors for the Mold Inhibitors Market with an analysis of the trends and opportunities.

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On the basis of type, the market has been segmented into propionates, benzoates, sorbates, natamycin, and others. On the basis of applications, the Mold Inhibitors Market has been segmented into food, animal feed, paints, pharmaceuticals, cosmetics & personal care, and others. The regional analysis in the report includes North America, Europe, Asia-Pacific, Latin America, and RoW.

Mold inhibitors are additives that help in preventing the contamination and proliferation of mold in various products. They also help in reducing the ill-health effects of mycotoxins produced by mold. The use of mold inhibitors enhances the shelf-life of the product and provides flexibility in moisture retention and management of food and feed products. Mold inhibitors are used to prevent the growth of mold on products such as breads, dairy products, animal feed products, paint, wood, leather, and cosmetics. Animal feed and grain preservation are the largest application segment of mold inhibitors. Rising health-consciousness and more focused research & development in the pharmaceutical industry has increased the market share of this application too. Degradation of products and health issues related to mold are generating health concerns in the minds of consumers and rising demand from the processed and convenience food industry are some of the key factors driving the demand of mold inhibitors globally.

The market for mold inhibitors is projected to reach USD 1.83 Billion by 2020 at a CAGR of 3.0% between 2015 and 2020. In 2014, North America led the global Mold Inhibitors Market by accounting for a market share of 33.0% in 2014. Asia-Pacific is projected to grow at a CAGR of 3.4% during the projection period owing to the growing size of the processed food industry in the region. Economic growth of its nations has led to increase in construction work, which has fueled the demand for mold inhibitors in the paints and wood industries. The North American Mold Inhibitors Market was closely followed by Asia-Pacific; the U.S. being the major revenue contributor in the former. Latin America is projected to be the second fastest-growing market after Asia-Pacific for mold inhibitors during the forecast period. Cosmetics, pharmaceuticals, and pet food are the most significantly growing industries in Latin America that are expected to enhance the demand for mold inhibitors in the region. The global Mold Inhibitors Market is expected to grow in the near future owing to factors such as increasing size of the convenience food industry across the globe, increasing disposable income, and rising concerns among people regarding ill-effects of molds and mycotoxins produced by it.

The report includes key strategies, along with the product portfolios of leading companies in the market. It includes the profiles of leading companies such as BASF SE (Germany), Associated British Foods Plc (U.K.), Koninklijke DSM N.V., (The Netherlands), Archer Daniels Midland Company (U.S.), E. I. du Pont de Nemours and Company (U.S.), Handary SA (Belgium), Hawkins Watts Limited (New Zealand), Kemin Industries Inc. (U.S.), Niacet Corporation (U.S.), Pacific Coast Chemicals (U.S.), and Eastman Chemical Company (U.S.).

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