Pune, India, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Key Aspects Set to Influence the Industry:
Market Research Future (MRFR) reports the Antioxidants Market to touch a USD 8,996.2 Million valuation by 2026 at a 5.3% CAGR over the assessment period (between 2020 and 2026).
Antioxidant supplements are expected to climb at a brisk pace over the next decade. The wide variety of end-use advantages for antioxidants is boosting the global demand. Moreover, the increased demand for convenience food and the expansion of the food industry results in increased sales of antioxidants. Food producers are inclining toward fortifying functional foods, dietary supplements, and functional foods with antioxidants due to the growing customer demand, which is likely to continue into the future and spur the antioxidant industry's development.
Future Endeavors and New Focus of Major Players:
Other factors such as consumer demand for poultry and fast-paced lifestyles, and increased need for natural antioxidants in food are driving the antioxidant food sector. Research and development practices, including creating improved antioxidants, will play a key role in improving antioxidants' effectiveness. The total use of antioxidants in different sectors is on the increase, and there's a benefit. On the other hand, laws regulating the global economy's expansion are limiting the market scope.
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COVID-19 Analysis:
The COVID-19 epidemic and the government's lockout have harmed the market for antioxidant supplements by briefly shutting down some manufacturing facilities. Antioxidant demand has declined since the SARS-CoV-2 pandemic, and as a result, players are focused on improving supply chains and accelerating activities to curb more sales losses. With the steady lifting up of the lockout across countries and the novel coronavirus under control, the market for foods and beverages with antioxidants seems to be increasing as customers are growing more health-conscious and concentrated on improving their immunity.
Market Segmentation:
Global Antioxidants Market is segmented based on the type, form and application.
Key types covered in the market study are natural and synthetic. Sales of the synthetic category have stayed at the top due to its high demand for BHT and BHA in refined foods. However, the development of the natural form category is expected to become more common in the coming years.
Various forms in which oxidants are available include dry as well as liquid. The dry sector has been a major global beverage industry for years due to the wide-ranging uses of antioxidants in packaged food and beverages.
Specialty oxidants are used in personal care, animal feed, food and beverage, and many other consumption examples. The food and beverage industry is the main contributor to the antioxidant market, with beef, poultry, and fish products among the most popular products. The growing demand for products, such as enhancing taste, scent, color, and hindering oxidation was expected to propel the demand for the commodity in the food and beverage applications. in view of this, it is presumed that the food and beverages segment can touch USD 3.59 billion by 2026-end, as per MRFR's report. However, personal care is expected to experience the fastest growth over this study.
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Competitive Landscape:
Several vendors embrace a range of tactics to extend their reach, such as alliance, cooperation, and merger. Stakeholders should explore the possible advantages of plant-based antioxidants because they are an innovative way to succeed in the antioxidant market. The growth in healthy lifestyle among customers leads the food industry to concentrate on product developments and releases to entice and attract large customer bases.
Market Research Future recognizes Following as the Key Players in the Global Antioxidants Market.
- Kemin Industries, Inc. (U.S.)
- BASF SE (Germany)
- Kalsec Inc. (U.S.)
- Archer-Daniels-Midland Company (U.S.)
- Koninklijke DSM N.V. (Netherlands)
- Eastman Chemical Company (U.S.)
- Barentz Group (Netherlands)
- International Flavors & Fragrances Inc. (U.S.)
- DuPont de Nemours, Inc. (U.S.)
- Adisseo (France)
Industry Updates:
December 2020 – Olam Coffee launched a new series of coffee cherry cascara products for concentrates and infusions through multiple applications, from bars to teas. Cascara is the skin and pulp of the coffee cherry fruit and its flavor is not like coffee's flavor. It has a fruity and sweet flavor with raisin, caramel and cherry notes.
October 2020 – Layn Natural Ingredients spread to China by acquiring Chengdu Wagott Bio-tech Co (Wagott), the crucial botanicals like green tea, resveratrol, and tea extracts. Wagott and Layn would produce a higher number of tea-based polyphenol goods, such as products aimed at pet and animal nutrition, which could mean a big move in the global feed antioxidants industry.
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Regional Analysis:
North America Leads with Established Sectors while APAC to Rise Substantially
The global antioxidants market is segmented into North America, Europe, Asia Pacific, and the rest of the world.
In reference to the demand for antioxidants, Asia Pacific is the most lucrative because of the growing prevalence of dietary supplements. Increasing the ubiquity of quality cosmetics, personal care products, and food products will also help the antioxidants foods and beverages sector in the area. The rising health awareness and the growing population in developing countries in the Asia-Pacific region, such as India and China, drive the demand in the region for antioxidants.
Great numbers of natural Antioxidants, with an increasing number of applications in the cosmetic industry, are noted. The U.S. industry plays a major role in developing markets for the region. Consumers looking to change their lifestyles are buying European products, fueling the rise of the European industry. In the U.S., preference for high-quality luxury cosmetic products is very important, owing to the surge in numerous skin disorders such as wrinkles, age lines, loss of skin elasticity and pliability, dull skin and dark circles, which gives a substantial boost to the market for a variety of natural antioxidants supplements.
Discover more Research Reports on Food & Beverages Industry, by Market Research Future:
Natural Antioxidants Market Research Report: By Type (Vitamin E, Vitamin C, Carotenoids, Rosemary Extract, and Others), Form (Dry and Liquid), Application (Food & Beverages [Bakery & Confectionery, Dairy & Frozen Desserts, Beverages, Sweet and Savory Snacks, and Others], Personal Care, Animal Feed, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World) - Forecast till 2027
Feed Antioxidants Market Global Research Report Information by Type (Beta Hydroxy Acid, Butylated Hydroxytoluene, Ethoxyquin and others), Livestock (Poultry, Ruminants, Swine, Aquaculture and others) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast till 2024
Food Antioxidants Market Information by Type (Natural and Synthetic), Source (Fruits & Vegetables, Nuts & Seeds, Oils & Petroleum, Spices & Herbs and others), Application (Fats & Oils, Processed Foods, Beverages, Bakery & Confectionery, Meat & Poultry and others) and Region - Forecast to 2023
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