New York, Sept. 25, 2023 (GLOBE NEWSWIRE) --
In a comprehensive research analysis conducted by ChemView Consulting, antioxidants market is projected to hit a valuation of US $8,535.3 million and register a CAGR of 5.3% during the period of 2023–2033.
Key Market Insights:
- Largest Market for Antioxidants: The research reveals that East Asia holds the largest share of the antioxidants market, accounting for nearly 35.8% of the market.
- Dominant Application Segment: Plastic & rubber additives emerge as the largest application segment, contributing to approximately 42.4% of the total market revenues.
- Growth Rate: The antioxidants market is anticipated to grow at a steady CAGR of 5.3% from 2023 to 2033.
- Major Trends: Aging global population's interest in preventive healthcare is driving the demand for antioxidants as part of strategies to mitigate age-related health concerns. Secondly, the incorporation of antioxidants into functional foods and beverages has gained popularity, especially those fortified with vitamins C and E.
- Leading Players: Key companies dominating the antioxidants industry include Koninklijke DSM N.V., Barentz International BV, Del Monte Foods, Natura, Orah Nutrichem Pvt. Ltd., Kalsec Inc., Archer-Daniels-Midland Company, Kemin Industries, Inc., BASF SE, and E.I. DuPont El Nemours and Company.
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Surging Beauty & Personal Care Industry Driving Demand
The report identifies several key drivers fueling the antioxidants market demand. The beauty and personal care sectors are increasingly recognizing the skin-health benefits of antioxidants, leading to their inclusion in skincare and cosmetic products. Moreover, growing consumer awareness of the health benefits of antioxidants is driving demand for antioxidant-rich foods and supplements. Coordinated consumer education campaigns have further boosted adoption.
East Asia is the Largest Market with Nearly 36% Industry Share
- Rapid urbanization, a growing middle class, and government initiatives promoting health awareness are fueling market growth in China and India, making them key players in the global antioxidants sector.
- The US market is expected to witness significant growth due to an aging population and the incorporation of antioxidants across various industries.
- The preference for natural and organic ingredients is driving sales in Europe, with continuous research and innovation supporting antioxidants market growth.
- Increasing awareness of antioxidants' importance for health is driving growth in Japan, with collaboration between research institutes, manufacturers, and healthcare professionals leading to novel antioxidant formulations.
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Market Segmentation:
- By Type: Synthetic antioxidants are expected to remain dominant due to their ability to prevent oxidation effectively and cost-effectively, making them suitable for various applications.
- By Form: Dry antioxidants are projected to lead due to ease of handling, transport, and storage compared to liquid antioxidants. They are adaptable to various industries.
- By Application: Plastic & rubber additives represent the largest segment, driven by increased demand in industries such as automotive, construction, and packaging.
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Leading Companies in the Global Antioxidants Market
The report highlights the prominent players in the market, including Archer-Daniels-Midland Company, BASF SE, E.I. DuPont El Nemours and Company, Kemin Industries, Inc., and Koninklijke DSM N.V.
Recent Developments:
- In August 2023, Natura introduced the powerful anti-aging antioxidant serum Chronos.
- In February 2022, Orah Nutrichem Pvt. Ltd. launched ORAH Vit E, a natural antioxidant based on tocotrienols.
Explore ChemView Consulting’s related ongoing Coverage in Chemicals and Materials Domain:
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Glycine Market: Glycine market to cross valuation of US$ 976.9 million and will grow at a 4.1% CAGR during the period 2023–2033. Rising consumer health consciousness has resulted in an increase in dietary supplement intake in the US market, which is projected to observe significant growth in the estimated period.
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About ChemView Consulting:
ChemView Consulting is a leading market research firm, with expertise in Chemicals & Materials, Food & Beverages, Packaging, Oil & Gas, Clean Energy & Power, Life Sciences, Industrial Equipment, Mobility, and Consumer Product. We are one of the top market intelligence firms specializing in business analytics with an expertise in the ever-growing chemicals industry. We track high-growth markets with innovative ideas and opportunities insights through B2B research.
Our client base ranges from industry experts, investors, top companies in the chemicals; and oil & gas industry to SMEs, start-ups, and new entrants. We have worked with over 100 companies to upscale their position as the global leader in the chemical & materials landscape with our cutting-edge analytics and advisory services.
