Mold Inhibitors Market outlook: investors still miss the big assessment 2016 – 2024
Mold inhibitors serve as additives which are used for preventing mold growth and reducing the mold contamination, for the purpose of minimizing the risk of having mycotoxin producing mold which proliferate on feed or grain. These inhibitors have the function to suppress generation of molds. Mold inhibitors generally include propionic acid and other organic acids. However, as mold inhibitors have no effect on mycotoxins which are already present in the contaminated feed, they may still be present even if the growth has been avoided. Various mold inhibitors are used in the industry such as propionates, benzoates, natamycin, sulfites, acetic acid and sodium acetate among others.
Propionates include calcium propionate, sodium propionate which are widely used in the food and feed industry. Benzoates include sodium benzoate, benzoic acid, sorbic acid, sorbates, potassium sorbate which are used in the feed industry. Mold inhibitors are used in a wide range of industries such as food which include baked goods, beverages, and dairy products, feed which comprises aquafeed, poultry & swine. Other industries include paints, cosmetics, pharmaceuticals, paper, wood, and leather among others.
The feed industry has been growing rapidly with the rising consumption of meat. Growth of the aquaculture market due to high demand for fish in food and non-food applications is one of the primary reasons expected to drive the aqua feed market during the forecast period. Moreover, an increase in consumption of fish is likely to boost the demand for aquaculture, thereby driving the demand for aqua feed. Asia Pacific is expected to dominate the aqua feed industry in the next few years due to significant growth in the aquaculture industry owing to certain factors such as ease of availability of natural resources, induced conditions for aquaculture and cheap labor.
In matured regions such as North America and Europe, rising demand for seafood and hardiness of the species has led to a higher demand for aqua feed from aquaculture species. These factors are expected to boost the demand for mold inhibitors in the feed industry. On account of the numerous advantages provided by the consumption of mold inhibitors, the food and non food industries have been some of the major factors for the growth of the market. These inhibitors are used for minimizing mold contamination and avoiding mold growth in several products from industries pertaining to wood, paint, feed, and food among others.
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The global industry for mold inhibitors is expected to grow rapidly in the food industry. It is fuelled by the growing popularity of beverages and baked goods globally. Several factors such as growing health concerns from interaction with molds as well as increasing demand for food preservatives have been some of the major growth factors for the mold inhibitors market. As development of mold is a major issue in the feed and food products, consumers are focusing towards products which have an extended shelf life, thereby reducing the possibility of molds. Other factors such as rising disposable income of the individuals and several disease outbreaks in the past regarding molds are expected to contribute towards the growing demand of mold inhibitors over the forecast period.
However, increasing prices of certain raw materials and concerns due to harmful effects on human body from the use of certain inhibitors is expected slow-down the growth of the market. Increasing focus from artificial mold inhibitors to natural mold inhibitors as well focusing on market expansion in emerging regions such as Asia Pacific is expected to provide new opportunities for the growth of the market.
Archer Daniels Midland Company, BASF SE, DuPont and Pacific Coast Chemicals are some of the key companies involved in the manufacturing of mold inhibitors.