The Total Addressable Market (TAM) for Mold Inhibitors was valued at USD 2.02 billion in 2022 and is projected to reach a value of USD 3.03 billion by 2031, registering a CAGR of 4.6% during the forecast period 2023-2031.
Mold inhibitors help in delaying food spoilage by preventing fungal growth. They have various applications in the baking, confectionery, meat, dairy, and feed industries. Traditionally, synthetic mold inhibitors such as propionates, benzoates, and sorbates are used in the food and feed industries. However, the increasing inclination of consumers toward natural and organic ingredients has upsurged the demand for clean-label mold inhibitors, especially in the bakery industry. Natamycin is one of the highly used products and being used for its natural mold-inhibiting properties. Manufacturers have also started launching products using new formulations like vinegar, jasmine extract, cultured whey, and other natural extracts to meet the growing consumer demand.
To reduce the possibility of mycotoxin-producing molds proliferating in grain or feed, mold inhibitors are feed additives intended to stop mold growth and minimize mold contamination. Feed additives like propionic and other organic acids are frequently utilized for this aim. Mold inhibitors do not affect mycotoxins in contaminated feed, so mycotoxins may still be present even though mold growth has been stopped.
These are the substances that help to stop the growth of mold on various surfaces and food products. Inhibitors in chemicals that cause apparent mold growth stop it from growing back on previously cleaned surfaces. Propionates, benzoates, sorbates, Natamycin, and other substances typically found in feed, food, and beverages are the most common mold inhibitors. These inhibitors provide products more flexibility in moisture control and aid in increasing shelf life. China is a major player in this market due to the significant demand from the feed, wood, paint, and leather sectors.
Due to escalating food-related health issues and growing knowledge of the negative effects of mold development, the need for mold inhibitors has increased globally. As consumers want longer shelf lives for their food and medications, the market for mold inhibitors is positioned for profitable growth. The development and expansion of various end-user verticals, particularly in developing nations, will have a direct effect on the need for mold inhibitors. Due to better R&D capabilities for both natural and synthetic mold inhibitors, the market for these products will expand. Technology has advanced as a result of increasing disease outbreaks, particularly in the field of mold inhibitors.
Sales of mold inhibitors will increase since it is anticipated that consumer spending on items for animal feed will rise. The demand for organic ingredients and additives, such as natural mold inhibitors or clean-label mold inhibitors, has significantly increased as natural or organic foods become more and more popular. The food and beverage business frequently uses vinegar, prune juice concentrates, Natamycin, and other clean-label Mold inhibitors. They are highly effective antifungal agents for mold and other fungi.
Raw material price changes are now a major impediment to the market's growth. The development of the mold inhibitors industry will be further hampered by a lack of cutting-edge technologies and poor storage facilities in low- and middle-income areas. Because there aren't enough resources to support a strong infrastructure in low- and middle-income areas, the mold inhibitors market won't grow as quickly there. It is anticipated that some of the inhibitors' detrimental effects on human health will impede market expansion.
rising demand from emerging nations and improved awareness will offer the mold inhibitors market many opportunities.
The worldwide mold inhibitor market has been expanding quickly in the food industry. It is fueled by the expanding global demand for baked goods and beverages. The market for mold inhibitors has grown due to several causes, including the rise in health problems associated with mold interactions and the use of food preservatives.
Consumers are focusing on items with a longer lifespan since the growth of mold plays a significant role in food and feed products, which lowers the likelihood of mold. The demand for mold inhibitors is anticipated to rise over the forecast due to several factors, including disease outbreaks and rising disposable income among people in the past.
The global Mold Inhibitor market is segmented based on type, Application, and region.
Based on type, the global mold inhibitors market is segmented into natural mold inhibitors and synthetic mold inhibitors.
Natural fungal inhibitor (Acetic acid and Natamycin) controls and eliminates mold and fungal growth in the fermentation process of food, bakery, and feed products by adding Aspergillus genus extract to maintain and increase the shelf life. Fungal growth is highly favored by warm and muggy conditions, which makes bakery products more prone to developing mold or fungal growth. Globally, around 4%–5% of the bakery products produced are spoiled by fungal growth. For instance, 1.3 billion tons of food are discarded yearly for the same reason. To avoid such damage, employing natural mold inhibitors in the bakery industry is paramount. On September 2018, Lesaffre completed the acquisition of Delavau. The company manufactures Encore Fresh for mold inhibition and marinating the flavor of food products. Besides, Kemin Industries, Inc. offers PREVION mold inhibitors to the pet food market.
A substance known as a protein synthesis inhibitor prevents or delays cell growth or proliferation by interfering with the procedures that directly result in the production of new proteins.
Based on the Application, it is sub-segmented into Feed/Food, Pharmaceuticals, Paints, Cosmetics, and Others.
During the projection period, the category for feed and food is anticipated to increase at the most significant CAGR. Mold inhibitors are frequently used in food and feed because microorganisms influence their safety and quality. Various chemical types can be used as mold inhibitors in this regard. Furthermore, several mold inhibitors have the designation "controlled by processing method" or "GRAS notice" on the U.S. Food Additive List, indicating that people generally regard them as safe.
Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. North America dominates the market.
Americas account for a significant share of the global mold inhibitors market with well-established food and beverage sector. The industry includes farmers, traders, wholesalers, food manufacturing companies, and retailers. In 2013, the global industry was valued at USD 12.5 trillion, or 17% of the world's GDP. Canada and the U.S. are the leading contributors to regional growth. As per American Bakers Association, in 2018, baked food, retail bakeries, and commercial bakeries generated revenue of USD 423 billion, USD 3 billion, and USD 31 billion, respectively. The food servicing industry mainly relies on food that can be stored for extended periods without compromising its taste and color. In line with this, food companies add microbial inhibitors to the products. According to the North American Meat Institute, in 2017, meat production generated revenue of around USD 64.4 billion. In contrast, the poultry sector generated around USD 59.4 billion, making the meat and poultry industry the largest industry in the U.S. agricultural sector.
Asia Pacific is expected to dominate the global mold inhibitors market with a rapidly growing economy and increasing population of health-conscious consumers. The Southeast Asia market is estimated to grow at a CAGR of 6.1% during 2018–2023. In Asia Pacific, food regulatory bodies strictly regulate food manufacturing processing, like the addition of nutritional elements and food preservatives, without affecting the nutritional benefits of food items. In Malaysia, Halal Industry Development Corporation (HDC) was established to regulate branding and promotion efforts and the appropriate amount of anti-microbial additives within the food and beverage industry and pharmaceutical industry. Companies have started manufacturing nutritional food with longer shelf life at lower prices to address the region's undernourishment problem. Japan and China, two of the respected countries in the Asia Pacific, are heavily investing in the food and beverage industries. Moreover, local players, changes in the food trade, and rapid growth in national and regional specializations support growth in the food industry.
Europe is forecasted to account for an optimum share of the global market due to the fastest growing food and beverage market.
Middle East accounts for the least share of the global mold inhibitors market.
The major players in the market are:
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