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The region is industrially developed, thereby finding increased application of mold inhibitors
The global market for mold inhibitors is projected to reach a value of $1780.3 million by 2019. North America holds a majority share in the global mold inhibitors market. The region is industrially developed, thereby finding increased application of mold inhibitors. The major application for mold inhibitors is the feed industry, mainly due to the growing demand for meat products.
The availability of raw materials and labor has led to the shift of industries like wood, leather, and paint from western countries to the Asia-Pacific region. Therefore, this region is expected to experience high growth.
Considering the types of mold inhibitors, both propionates and natamycin, are expected to acquire a large market share together, while benzoites, sorbates, sulphates and nitrites) are projected to experience a slower growth. This is because sorbates, sulphates, and other mold inhibitors find application only in specific industries like dairy, wood, and paint, whereas propionates and natamycin have wider application areas.
The mold inhibitors market is dominated by a few large players and many small and medium-scale players. The major players identified in the industry are Kemin (U.S), DSM (Netherlands), Associated British Foods plc (U.K.), and DuPont (U.S.).
Mold Inhibitors: Market Share, 2013
Source: MarketsandMarkets Analysis
Kemin (U.S.) is identified as the major player among all mold inhibitor manufacturers owing to its wide product portfolio and tendency to serve a majority of applications.
Mold Inhibitors Market By Type (Propionates, Sorbates, Benzoates, and Natamycin), By Application (Food, Feed, Paint, Pharmaceuticals, and Cosmetics) - Global Trends & Forecast to 2019
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