The global food antioxidants market revenue was around US$ 1.55 billion in 2022 and is estimated to reach US$ 2.5 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.47% during the forecast period from 2023 to 2031.
Antioxidants are substances that inhibit the oxidation process, which could harm organisms' cells and lead to the creation of free radicals. They can be acquired naturally from a variety of fruits and vegetables, including raspberries, spinach, and eggplant, or they can be produced artificially and used as additions for a variety of purposes. In addition, it's widely utilized as a preservative in many processed food products, it is also widely employed as an additive for plastic, fuel, and latex. It plays a crucial role in many pharmaceutical and cosmetic products.
Market Driving Factors
The surge in the prepared food industries is likely to drive the market. Prepared foods are processed foods that are treated to increase shelf life, lessen rancidity, and make them simpler to use. Furthermore, due to factors including high discretionary income and a gradual rise in the number of working women, the prepared food business is anticipated to experience significant expansion in the upcoming years, which would benefit the market.
The popularity of products with a long shelf life due to the use of antioxidants as preservatives benefits the market. Food antioxidant awareness is poor, and growing nations like India and China are heavily industrializing. The demand for food antioxidants is increasing along with the growth and attainment of high disposable income in these emerging economies. The market for food antioxidants is anticipated to expand in the Asia Pacific due to the region's rising demand for prepared and functional beverages and foods.
Low permitted usage limits for synthetic antioxidants and strict regulatory compliance for their use in food products limit the market growth.
Regional Analysis
North America dominates the market in terms of revenue. This is due to consumer lifestyles in nations like Canada and the United States. In the region, the majority of individuals are working professionals who rely significantly on prepared food. Additionally, due to the serious COVID-19 situation in the U.S., the public is required to maintain a healthy diet to immunize their bodies to combat the virus. Food antioxidants preserve the shelf life of the food and protect the body from producing free radicals. This element is probably going to increase the demand for food antioxidants in the region.
Segmentation Analysis
Type Insight
The synthetic segment dominated the market in terms of the share. This can be attributed to the increased usage of butylated hydroxytoluene (BHT), tert-butyl hydroquinone (TBHQ), butylated hydroxy anisole (BHA), and propyl gallate (PG) in the manufacture of a variety of food products. Synthetic antioxidants are made of several chemicals and are created to utilize a regular industrial process. Synthetic food antioxidants are frequently used to increase the texture, color, and smell of food products as well as their shelf life.
The natural segment is anticipated to dominate the market in terms of the highest CAGR o over the forecast period. Natural antioxidants come from organic sources such as animals, plants, herbs, fruits, and spices are the primary source of the segment. Ascorbic acid, alpha-tocopherol, vitamins C and E, carotenoids, and rosemary extracts are examples of natural antioxidants. The demand for naturally derived antioxidants has grown in response to the rising popularity of leading healthy lives. The surge in concern about the effects of chemicals on health is estimated to raise demand for natural food antioxidants.
Source Insight
The fruits and vegetables segment dominated the market and is estimated to continue its dominance during the forecast period. This can be attributed to the surge utilization of powder-based antioxidants in packaged foods. Powders of technical quality are frequently utilized in many different food products. The powder lessens the harm that free radicals and can significantly lessen their consequences. The surge prepared food sector will fuel the demand for fruit and vegetable-derived antioxidants.
Application Insight
The meat and poultry segment dominates the market in terms of the shares. This is due to the rising meat consumption and the sales of related foods. The rich sources of protein that humans need for a balanced diet are meat and poultry. Human bodies get enough protein from eating meat and poultry items. The red meat category often consists of beef, lamb, and pork. The main factor driving the expansion of the poultry industry is anticipated to be the growing consumer preference for poultry meat as a result of its low cost.
Prominent Companies
Segmentation Outline
The global food antioxidants market segmentation focuses on Type, Source, Application, and Region.
By Type
By Source
By Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL FOOD ANTIOXIDANTS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: FOOD ANTIOXIDANTS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL FOOD ANTIOXIDANTS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL FOOD ANTIOXIDANTS MARKET, BY TYPE
5.1 OVERVIEW
5.2 NATURAL
5.3 SYNTHETIC
6 GLOBAL FOOD ANTIOXIDANTS MARKET, BY SOURCE
6.1 OVERVIEW
6.2 FRUITS & VEGETABLES
6.3 NUTS & SEEDS
6.4 OILS & PETROLEUM
6.5 SPICES & HERBS
7 GLOBAL FOOD ANTIOXIDANTS MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 FATS & OILS
7.3 PROCESSED FOODS
7.4 BEVERAGES
7.5 BAKERY & CONFECTIONERY
7.6 MEAT & POULTRY
7.7 OTHERS
8 GLOBAL FOOD ANTIOXIDANTS MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL FOOD ANTIOXIDANTS MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 ARCHER DANIELS MIDLAND
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 BASF SE
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 KEMIN INDUSTRIES INC
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 CARGILL INC
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 EASTMAN CHEMICAL COMPANY
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 FRUTAROM LTD
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 E.I. DU PONT DE NEMOURS & COMPANY
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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