Dublin, May 22, 2023 (GLOBE NEWSWIRE) -- The "Global Food Antioxidants Market by Source (Fruits & Vegetables, Oils, Spices & Herbs, Botanical Extracts, Gallic Acid & Petroleum), Application (Fats & Oils, Prepared Meat & Poultry, Bakery & Confectionery), Type, Form and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global market for food antioxidants was valued at USD 1.6 Billion in 2023 and is projected to reach USD 2.2 Billion by 2028, at a CAGR of 6.2% during the forecast period.
Asia Pacific is projected to witness the growth of 6.7% CAGR during the forecast period
The Asia Pacific region accounts for USD 0.5 Billion of the market size in global market for food antioxidants in 2022. The food antioxidants market in the Asia Pacific region is projected to grow at the highest CAGR of 6.7% during the forecasted period. The country's expanding population is the main force behind the development of the Chinese food market.
The fact that India is the second most populous nation in Asia also contributes to the rise in food consumption. The COVID-19 strike has had a considerable influence on various countries in Asia Pacific. The regional demand for healthy food products has grown because of the health issue.
Over the anticipated years, a combination of an expanding population and rising food consumption is anticipated to increase demand for food antioxidants. As more big companies construct manufacturing facilities in the area as a result of the favorable business environment provided by governments granting tax benefits, industry growth should be boosted.
Supportive government programs like "Make in India" and "Made in China 2025" should encourage FDI inflows into the region because of the growth in land production, which will enhance food production and boost the use of food oxidants.
Natural antioxidants are gaining rapid popularity in the food antioxidants market across the globe
Natural antioxidants do not involve a conventional chemical reaction and come from naturally occurring sources such plants, animals, fruits, herbs, and spices. Carotenoids, rosemary extracts, vitamin C, vitamin E, ascorbic acid, alpha-tocopherol, and other substances are examples of natural antioxidants. The tendency to live a healthy lifestyle is growing, which has increased demand for naturally extracted antioxidants.
Over the upcoming years, the demand for natural antioxidants is anticipated to increase due to rising health consciousness and concerns about chemical side effects. To increase the nutritional value of their finished products, manufacturers in the global food and beverage industry are looking for ways to incorporate natural antioxidants. Additionally, players are placing a strong emphasis on offering products enhanced with natural and organic ingredients to satisfy the growing demand of health enthusiasts.
Currently, manufacturers are concentrating on adhering to a "better for you" strategy to survive in a market that is becoming increasingly competitive. To meet the rising consumer demand for food products and ingredients made from natural sources, many food manufacturers are putting forth efforts to provide naturally occurring foods with significant nutritional benefits.
Prepared meat & poultry dominated the market for food antioxidants and was valued the largest at USD 637.7 million in 2022
There is a growing demand for prepared meat and poultry in many parts of the world, particularly in developing countries with rising incomes and changing dietary patterns. This has created new markets for prepared meat and poultry producers. And another factor increase in demand for prepared meat & poultry is competitive pricing.
Prepared meat and poultry producers in some countries can offer their products at competitive prices due to lower labor and production costs. This makes their products more attractive to importers looking for quality products at reasonable prices. By adding antioxidants to meat, exporters can slow down or prevent the oxidation process, which helps to maintain the quality and freshness of the meat for longer periods of time.
This is particularly important for meat products that are transported over long distances or stored for extended periods before being sold. Thus, increase in the demand for prepared meat & poultry exports can potentially raise the demand for food antioxidants.
The dry segment of the global food antioxidants market is projected to grow and have the largest market share for the forecasted year
In 2022, the market was led by the dry form category. This sizable portion can be attributed to the rising use of powder-based antioxidants in food products. Powders of a technical grade are widely used in many food products. The powder lessens the negative effects of free radicals and can lessen the harm they can do.
Most food antioxidants come in powder, tablet, flakes, and granular forms. Because dry antioxidants are so simple to use, store, and travel, customers highly favor them. Over the upcoming years, a growing prepared food sector is anticipated to fuel demand for dry antioxidants around the globe.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 335 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.6 Billion |
| Forecasted Market Value (USD) by 2028 | $2.2 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Growth in Prepared Foods Industry to Propel Market
- Growth in Use of Natural Antioxidants in Meat & Poultry in Europe and North America
- Increase in Consumer Preference for Organic Food & Beverages
Restraints
- Stringent Regulatory Compliances for Synthetic Antioxidants and Low Permissible Usage Limits in Food Products
Opportunities
- Popularity of Long Shelf Life of Products due to Use of Antioxidants as Preservatives to Boost Market
- Innovations in Antioxidant-Rich Foods & Beverages with Perceived Health Benefits
Challenges
- Health Concerns Associated with Chemical Preservatives Limit Market Growth
Companies Mentioned
- 3A Antioxidants
- Aom
- Archer Daniels Midland
- Basf Se
- Btsa
- Camlin Fine Sciences Ltd
- Crystal Quinone Pvt. Ltd
- Divi's Laboratories
- Dsm
- Eastman Chemical Company
- Foodchem International Corporation
- Guangzhou Zio Chemical Co. Ltd
- Hangzhou Better Chemtech Ltd
- International Flavors & Fragrances Inc.
- Kalsec Inc.
- Kemin Industries, Inc.
- L&P Food Ingredient Co., Ltd
- Naturex
- Nexira
- Oxiris Chemicals S.A.
- Pharmorgana GmbH
- Trigon Antioxidants Pvt. Ltd.
- Vdh Chem Tech Pvt. Ltd
- Vi
- Yasho Industries
For more information about this report visit https://www.researchandmarkets.com/r/mtfxbf
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