New York, United States , Dec. 05, 2023 (GLOBE NEWSWIRE) -- Global Food Antioxidants Market Size is to Grow from USD 1.83 Billion in 2022 to USD 3.24 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.9% during the projected period.
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Food antioxidants are supplements that help to preserve food from "farm to plate" by avoiding oxidative damage during storage and processing. They are also known as natural or synthetic food preservatives. Because of their high stability and low volatility, antioxidants help to preserve the quality of nutrients, texture, color, taste, freshness, functioning, aroma, and attraction to consumers, such as the elderly. Food antioxidants and preservatives have become essential components in the food and beverage industries due to their capacity to extend food shelf life by avoiding rancidity caused by oxidation. They play critical roles in preventing various deteriorative events that damage the nutritional quality of food during transit and storage. These antioxidants come from both natural and manmade sources. The growing consumer awareness of nutritional value, as well as the demand for packaged foods with a longer shelf life, have fueled the global food antioxidants industry. The market value of antioxidants, both natural and synthetic, can, however, be highly unpredictable, making precise cost estimation difficult for manufacturers. It has the ability to destabilize supply chains and stifle market growth.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Food Antioxidants Market Size, Share, and COVID-19 Impact Analysis, By Type (Synthetic, Natural), By Form (Dry, Liquid), By Source (Fruits & Vegetables, Spices & Herbs, Botanical Extracts, Oils, Gallic Acid, Petroleum, Others), By Application (Fats & Oils, Snacks Dairy, Seafood, Meat Products, Beverages, Bakery Confectionery, Pet Food, Nutraceuticals, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The synthetic segment is dominating the market with the largest revenue share over the forecast period.
On the basis of type, the global food antioxidants market is segmented into the synthetic and natural. Among these, the synthetic segment is dominating the market with the largest revenue share of 53.6% over the forecast period. The rising use of butylated hydroxyanisole, butylated hydroxytoluene, tert-butylhydroquinone, and propyl gallate in the manufacturing process of a range of food-related commodities can be ascribed to this upward tendency. A synthetic antioxidant is a chemical mixture generated by a regular industrial process.
The dry segment is witnessing highest CAGR growth over the forecast period.
On the basis of form, the global food antioxidants market is segmented into dry and liquid. Among these, the dry segment is witnessing highest CAGR growth over the forecast period. The majority of food antioxidants are in powder, tablet, flakes, or granular form. The high proportion is attributed to the increased use of powder-based antioxidants in food products. Powders of technical grade are commonly utilized in a range of culinary goods. Over the projected period, the rising packaged food industry is expected to boost global demand for dry antioxidants.
The petroleum segment is expected to hold the largest share of the Global Food Antioxidants Market during the forecast period.
Based on the source, the global food antioxidants market is classified into fruits & vegetables, spices & herbs, botanical extracts, oils, gallic acid, petroleum, and others. Among these, the petroleum segment is expected to hold the largest share of the food antioxidants market during the forecast period. Food antioxidants made from petroleum contain statins and vitamin E, which aid in the protection of cholesterol levels, coronary heart disease, and free radical damage to food. Synthetic food antioxidants such as BHA, BHT, and TBHQ are commonly used in the food service sector to prevent spoilage and extend the shelf life of processed items.
The meat products segment accounted for the largest revenue share of more than 37.2% over the forecast period.
On the basis of application, the global food antioxidants market is segmented into fats & oils, snacks dairy, seafood, meat products, beverages, bakery confectionery, pet food, nutraceuticals, and others. Among these, the meat products segment is dominating the market with the largest revenue share of 37.2% over the forecast period. Increased global consumption of meat and related food products is driving the growth. Meat products are high in protein, which humans require for a healthy diet. Increasing consumption of meat and poultry for health reasons is likely to fuel demand for food antioxidants throughout the forecast period.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. This is due to rising population levels in countries such as China, India, and Japan. Furthermore, the country's growing population is a major driver of the Chinese food sector. India has the world's second-largest population, which adds to increased food consumption. On the other hand, North America is predicted to expand the fastest during the forecast period. This is owing to the behaviors of consumers in countries such as the United States and Canada. The bulk of people in North America are working professionals who rely heavily on prepared food. Due to a greater understanding of the health benefits of antioxidants, the European market is predicted to rise at a significant CAGR over the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Food Antioxidants Market include BASF SE, DSM, BTSA, Nexira, AOM, Frutarom Ltd, Barentz Group, 3A Antioixidants, DuPont, Kemin Industries, Inc., Vitablend Nederland B.V., Divi’s Laboratories, Crystal Quinone Pvt. Ltd, VDH Chem Tech, Camlin Fine Sciences Ltd, Eastman Chemical Company, International Flavors & Fragrances Inc., and among others.
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Recent Developments
- On July 2022, CFS North America, LLC. (CFS), a subsidiary of Camlin Fine Sciences Ltd. has chosen ChemPoint for the sales and distribution of its Xtendra BHT (butylated hydroxytoluenein) product in the United States and Canada, according to ChemPoint.com Inc., a subsidiary of Univar Solutions Inc. Xtendra BHT is a food-grade hindered phenolic antioxidant that is widely utilized as a preservative in a wide range of applications, including foods, animal feed, animal and vegetable oils, as well as petroleum products, rubber, and plastics.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Food Antioxidants Market based on the below-mentioned segments:
Food Antioxidants Market, Type Analysis
- Synthetic
- Natural
Food Antioxidants Market, Form Analysis
- Dry
- Liquid
Food Antioxidants Market, Source Analysis
- Fruits & Vegetables
- Spices & Herbs
- Botanical Extracts
- Oils
- Gallic Acid
- Petroleum
- Others
Food Antioxidants Market, Application Analysis
- Fats & Oils
- Snacks Dairy
- Seafood
- Meat Products
- Beverages
- Bakery Confectionery
- Pet Food
- Nutraceuticals
- Others
Food Antioxidants Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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