The North America Mold Inhibitor Market would witness market growth of 5.4% CAGR during the forecast period (2024-2031).
The US market dominated the North America Mold Inhibitor Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $421.8 million by 2031. The Canada market is experiencing a CAGR of 7.7% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 6.8% during (2024 - 2031).
Mold inhibitors are critical in preventing the growth of mold across various industries. Their versatility and effectiveness make them indispensable for product quality, safety, and longevity. For example, In the food and beverage industry, these inhibitors are essential for preserving the quality and extending the shelf life of products. Mold can lead to spoilage, resulting in economic losses and health risks for consumers.
Moreover, the pharmaceutical industry utilizes these inhibitors to ensure the effectiveness and safety of pharmaceutical products. Mold contamination in pharmaceuticals can compromise drug quality and pose serious health risks. These inhibitors produce and pack tablets, capsules, and liquid medications to prevent microbial contamination. Creams, ointments, and gels require these inhibitors to maintain their stability and prevent mold growth, which could affect their therapeutic properties.
The food processing industry in Mexico encompasses a wide range of products, including packaged foods, beverages, dairy products, and baked goods. As a result, there will be a need for these inhibitors tailored to different food types and processing methods. These inhibitor manufacturers may need to diversify their product offerings to meet the specific requirements of various food processing applications. According to the US Department of Agriculture, the food processing sector in Mexico was one of the most active in the nation, with an annual growth rate of 4.3% in 2020. It was predicted to contribute $39.4 billion to the country's GDP. Hence, North America's growing food and beverage processing sector is expected to boost the demand for mold-inhibitor probiotics in the region.
Free Valuable Insights: The Mold Inhibitor Market is Predict to reach USD 2 Billion by 2031, at a CAGR of 6.0%
Based on Type, the market is segmented into Benzoates, Sorbates, Propionates, Parabens, and Others. Based on Application, the market is segmented into Pharmaceuticals, Food & Beverage, Animal Feed, Cosmetics & Personal Care, and Other. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Type
By Application
By Country
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