Wilmington, Delaware, United States, June 26, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - he global organic industrial antifungal agents market size was valued at US$ 520.4 Mn in 2022. It is estimated to grow at a CAGR of 5.9% from 2023 to 2031 and reach US$ 871.7 Mn by the end of 2031.
This is due to growing need for environment-friendly and sustainable solutions across various sectors. The paints and coatings business, trailed by the food and beverage industry, is anticipated to be the main end-user of antifungal agents.
Use of organic and natural preservatives, particularly organic industrial antifungal agents, is increasing due to rising demand for processed beverages and foods and growing awareness about the detrimental health effects of synthetic preservatives. Organic industrial antifungal agents are gaining popularity as a result of stringent laws that have been put in place regarding utilization of synthetic preservatives within these industries.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 520.4 Mn | |
| Estimated Value | US$ 871.7 Mn | |
| Growth Rate - CAGR | 5.9% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 297 Pages | |
| Market Segmentation | Type, Application | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America | |
| Companies Covered | BASF SE, Microban International,Lonza Ltd, Ultra-Fresh, CLARIANT, Toagosei Co., Sinanen Zeomic Co., Sciessent LLC, DuPont, iHeir China Antifungal Technology | |
Different kinds of fungi have the potential to seriously affect a wide range of products across various sectors including textiles, food and beverage, medicines, agriculture, polymers, and cosmetics. Industrial antifungal agents made of organic materials are preferred as a substitute to synthetic antifungal agents that can be hazardous to both human health and the environment.
Organic antifungal agents are frequently utilized as preservatives to prolong the shelf-life of products and avoid deterioration or contamination. They are available in various forms, including granules, powders, and liquids, and are administered in numerous ways, such as by dipping, spraying, or directly mixing them into the product.
Global Organic Industrial Antifungal Agents Market: Key Players
Some of the key players in the global organic industrial antifungal agents market are as follows.
BASF SE, Microban International,Lonza Ltd, Ultra-Fresh, CLARIANT, Toagosei Co., Sinanen Zeomic Co., Sciessent LLC, DuPont, iHeir China Antifungal Technology.
Key Findings of Market Report
Based on application, the paints and coatings segment accounts for a major market share. This is due to the fact that materials like paint and coatings can develop fungal organisms, which can cause product deterioration, discoloration, and hamper performance. Accordingly, organic industrial antifungal agents are utilized as preservatives in paints and coatings to increase product shelf-life and prevent the growth of fungus and bacteria.
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Global Organic Industrial Antifungal Agents Market: Growth Drivers
Concerns about their health is rising among consumers and they are actively looking for products that they believe are less harmful and more organic. Concerns about the possible health dangers of artificial chemicals and preservatives in cosmetics, food, and other items are expected to drive market development. Moreover, concerns about the negative effects of synthetic preservatives and other chemicals in the environment are prompting consumers to look for items that are made in an environmentally friendly and sustainable manner. Accordingly, popularity of organic and natural products devoid of artificial chemicals and preservatives has increased.
Adoption of organic industrial antifungal agents is projected to increase, as processed foods and beverages become more popular. Antifungal microbial agents are frequently needed in processed food and beverage items for food preservation as well as to stop spoiling and contamination during manufacture, shipping, and storage. Increased emphasis on food safety laws as well as quality requirements can also be linked to increase in the use of organic industrial antifungal agents in the food industry
Global Organic Industrial Antifungal Agents Market: Regional Landscape
The global market for organic industrial antifungal agents is anticipated to expand at a steady pace due to rising demand for organic and environment-friendly solutions in Europe and North America. Increasing popularity of natural and organic preservatives, particularly organic industrial antifungal agents, is driven by implementation of stringent rules limiting application of synthetic preservatives in the food and beverage sector. Growing public awareness about the negative effects of synthetic preservatives and rising use of natural and sustainable goods in various industries, including plastic, pulp and paper, textiles, paints and coatings, and personal care, are driving business growth of this industry in Europe and North America.
Global Organic Industrial Antifungal Agents Market: Segmentation
Type
- Essential Oils
- Plant Extracts
- Biocontrol Agents
- Others
Application
- Plastic
- Paints & Coatings
- Pulp & Paper
- Textile
- Food & Beverage
- Personal Care
- Others
Regions
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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