Boston, MA -- (SBWIRE) -- 06/13/2014 -- Mold Inhibitors Market, By Type (Propionates, Sorbates, Benzoates, and Natamycin), By Application (Food, Feed, Paint, Pharmaceuticals, and Cosmetics) - Global Trends & Forecast to 2019
The mold inhibitors market is expected to grow at a CAGR of 2.9% from 2014 to 2019. The estimation is made on the basis of the increasing health awareness among consumers as mold causes allergies, asthma, nausea and other ailments.
Mold inhibitors have major applications in the feed industry, in the poultry, ruminants, and swine segments. They help in increasing the shelf-life and provide flexibility in moisture management of products. China is one of the important players in this market due to the extensive demand from the feed, wood, paint, and leather industries.
Based on type, propionates hold the maximum market share. Natamycin is the fastest growing market due to the preference of natural alternatives over artificial mold inhibitors. The market estimation is a result of regular research and development in the industry with wide application of mold inhibitors.
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The report on the mold inhibitors market is segmented by geography, application, and type. The end-use application includes food, animal feed, paint, pharmaceuticals, cosmetics, and others. All functions of mold inhibitors in every application have been considered in the study and the market has been segmented based on the same. The growth rate of mold inhibitors is expected to increase in the next five years, with growing research and development in the field and launch of new product ranges.
MOLD INHIBITORS MARKET SIZE, BY GEOGRAPHY 2014-2019 ($MILLION)
Source: MarketsandMarkets Analysis
The market is segmented into North America, Asia Pacific, Europe, and ROW on the basis of geography. North America is the dominating market due to the increase in production of food products such as baked goods, beverages, dairy products, and others. The Asia-Pacific market is expected to grow at the highest CAGR by 2019.
Companies Mentioned in this Report: ASSOCIATED BRITISH FOOD PLC, ADM ALLIANCE NUTRITION INC., BASF - THE CHEMICAL COMPANY, ROYAL DSM, DUPONT, HANDARY, HAWKINS WATT LTD., KEMIN INDUSTRIES INC., NIACET CORPORATION, PACIFIC COAST CHEMICALS, EASTMAN CHEMICAL COMPANY
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