Mold Inhibitor Market

Global Mold Inhibitor Market Size, Share & Trends Analysis Report By Type, By Application (Pharmaceuticals, Food & Beverage, Animal Feed, Cosmetics & Personal Care, and Other), By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-23085 Publication Date: June-2024 Number of Pages: 206
2023
USD 1.3 Billion
2031
USD 2 Billion
CAGR
6%
Historical Data
2020 to 2022

Market Report Description

The Global Mold Inhibitor Market size is expected to reach $2 billion by 2031, rising at a market growth of 6% CAGR during the forecast period.

Propionates in mold inhibition extend the shelf life of products by inhibiting microbial spoilage. This extended shelf life helps reduce product waste and loss, improves inventory management, and enhances consumer confidence in the quality and freshness of the products over time. Consequently, the propionates segment would acquire nearly 17.5% market share by 2031. Also, propionates are cost-effective inhibitors compared to some alternative preservatives. Their relatively low-cost efficacy and versatility make them economically attractive for manufacturers seeking effective mold control solutions while maintaining product affordability.

Mold Inhibitor Market Size - Global Opportunities and Trends Analysis Report 2020-2031

Consumers increasingly seek products that offer longevity and durability. Mold growth can compromise various materials' structural integrity and aesthetics, leading to premature deterioration and reduced lifespan. In addition, customers are becoming more conscious of the health risks linked to fungus and mold growth. In conclusion, rising consumer demand for quality products drives the market's growth. Additionally, Biosecurity measures aim to protect the health and welfare of livestock by preventing the introduction and spread of diseases, pathogens, and contaminants within animal production facilities. Moreover, mold contamination in feed ingredients, silage, and animal bedding can result in economic losses for livestock producers due to reduced feed quality, decreased animal performance, and increased veterinary costs. In conclusion, rising biosecurity measures in animal agriculture are propelling the market's growth. 

However, developing effective inhibitors often requires extensive research and development (R&D) efforts to identify suitable chemical compounds, optimize formulations, and conduct efficacy testing. In addition, compliance with regulatory requirements and safety standards is essential for these inhibitors to gain market approval and ensure consumer safety. Thus, the constraint of high costs is hampering the market's growth.

Driving and Restraining Factors
Mold Inhibitor Market
  • Rising consumer demand for quality products
  • Rising biosecurity measures in animal agriculture
  • Expansion of the cosmetic and personal care industry
  • Constraint of high costs
  • Complexity of application
  • Expansion of indoor farming and vertical agriculture
  • Increasing urbanization and high-rise construction
  • Rising alternative mold prevention methods
  • Compatibility issues with substrates

Application Outlook

On the basis of application, the market is segmented into animal feed, pharmaceuticals, cosmetics & personal care, food & beverage, and others. In 2023, the food & beverage segment attained 28.5% revenue share in the market. Consumers increasingly seek fresh, minimally processed food and beverage products with extended shelf life. These inhibitors enable manufacturers to meet consumer demand for freshness by preserving product quality and preventing premature spoilage, enhancing consumer satisfaction and loyalty.

Mold Inhibitor Market Share and Industry Analysis Report 2023

Type Outlook

Based on type, the market is divided into propionates, sorbates, benzoates, parabens, and others. The sorbates segment attained 22% revenue share in the market in 2023. Sorbates remain effective over various pH levels, including acidic and neutral conditions. This pH stability makes them suitable for acidic food and beverage products where mold growth inhibition is required without affecting product taste or pH balance. Also, sorbates are highly water-soluble compounds, allowing easy incorporation into aqueous solutions, emulsions, and formulations.

Free Valuable Insights: Global Mold Inhibitor Market size to reach USD 2 Billion by 2031

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region witnessed 35% revenue share in the market. The Asia Pacific region is witnessing a population growth and urbanization surge, driving food needs. With higher food production and processing activities comes a greater need for these inhibitors to prevent spoilage and ensure food safety.

Mold Inhibitor Market Report Coverage
Report Attribute Details
Market size value in 2023 USD 1.3 Billion
Market size forecast in 2031 USD 2 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 6.0% from 2024 to 2031
Number of Pages 206
Number of Tables 300
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Type, Application, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Australia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included DuPont de Nemours, Inc., BASF SE, Eastman Chemical Company, Kerry Group PLC, Koninklijke DSM N.V., Archer Daniels Midland Company, Lanxess AG, Kemin Industries, Inc., Corbion N.V. and Merck KGaA
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List of Key Companies Profiled

  • DuPont de Nemours, Inc.
  • BASF SE
  • Eastman Chemical Company
  • Kerry Group PLC
  • Koninklijke DSM N.V.
  • Archer Daniels Midland Company
  • Lanxess AG
  • Kemin Industries, Inc.
  • Corbion N.V.
  • Merck KGaA

Mold Inhibitor Market Report Segmentation

By Type

  • Benzoates
  • Sorbates
  • Propionates
  • Parabens
  • Others

By Application

  • Pharmaceuticals
  • Food & Beverage
  • Animal Feed
  • Cosmetics & Personal Care
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Australia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA
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