Dubai, UAE, Oct. 12, 2023 (GLOBE NEWSWIRE) -- As per the latest report published by Extrapolate, the Global Food Antioxidants Market size is expected to reach USD 2.62 Billion by 2030 from USD 1.57 Billion in 2021, recording a CAGR of 6.7% over 2022-2030. The increasing awareness among consumers about health and well-being is expected to drive the demand for food antioxidants in the foreseeable future.
Antioxidants are substances that counteract the potentially harmful effects of free radicals and play a vital role in our bodies. These free radicals are formed naturally through metabolic processes and cellular degradation. By neutralizing some of these free radicals, antioxidants protect our cells from injury and damage. Rising recognition among consumers of the various benefits provided by antioxidants in preventing chronic diseases such as diabetes has led to their widespread use as additives. This growth in demand is largely driven by the consumption of processed foods, which often contain significant levels of antioxidant chemicals.
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Competitive Landscape
Prominent players in the global food antioxidants industry are prioritizing product innovation to broaden their customer reach. For instance, in February 2021, Texan skincare firm SkinCeuticals launched a novel antioxidant serum specifically created for oily skin, potentially bolstering its presence in the antioxidant-based skincare sector.
Some of the key companies in the global food antioxidants market include:
- BASF SE
- ADM
- DSM
- Eastman Chemical Company
- Kemin Industries, Inc.
- DuPont
- Barentz
- BTSA
- Crystal Quinone
- Cargill, Incorporated
- International Flavors & Fragrances Inc.
Market Segmentation
By Source
- Fruit & Vegetable
- Gallic Acid
- Petroleum
- Spices & Herbs
Growing Utilization of Gallic Acid in Synthetic Food Antioxidants to Aid Market Growth
Based on source, the gallic acid segment has led the global food antioxidants market in 2021 and is likely to grow at a substantial CAGR through the forecast period. Gallic acid is composed of PG lipids and other fatty substances that contribute to the prevention of oxidation. Its primary use lies in being a synthetic food antioxidant for processed food products.
Gallic acid, a natural compound with a low molecular weight and triphenolic structure, is renowned for its strong antioxidant properties and its ability to regulate the cell cycle. Among the wide range of polyphenols, gallic acid has gained recognition as an effective antioxidant surpassing many commercially available alternatives. Additionally, gallic acid acts as an antifungal agent, protecting food from harmful substances that can cause contamination, which is fueling the growth of the segment.
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By Application
- Fats & Oils
- Snacks Dairy
- Meat Products
- Beverages
- Bakery Confectionery
Rising Use of Antioxidants in Meat Products to Augment Market Progress
On the basis of application, the meat products segment dominated the global food antioxidants market in 2021 and is anticipated to grow significantly in the forthcoming years. To extend the lifespan of meats, antioxidants can be employed. When stored, meat products that contain fat and unsaturated fatty acids are prone to oxidative degradation.
Antioxidants play a crucial role in preventing lipid oxidation, reducing rancidity, and maintaining the quality of meat products. They also contribute to extending the shelf life of these products without compromising their nutritional value or sensory attributes. To achieve these benefits, exogenous antioxidants need to be incorporated into meat products during secondary processing and storage.
Proliferating Product Demand in Several Industries to Drive Market Expansion
The global food antioxidants market is anticipated to experience steady growth in the near future due to the increasing demand for fortified food and beverages, driven by a growing inclination towards a healthier way of living. Antioxidants such as vitamin C, vitamin E, and polyphenols, known for their beneficial effects in skincare, are also expected to be utilized more extensively in cosmetics, further contributing to the market growth.
In addition, there is a rising demand for these antioxidants in the production of high-quality animal feed to enhance livestock growth and reduce the occurrence of diseases, which is slated to stimulate market expansion.
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Surging Adoption of Food Antioxidants in Animal Products to Provide Lucrative Growth Opportunities
The global food antioxidants market is experiencing notable growth due to the increasing demand for animal products in developing nations. Factors such as rising per capita income, population growth, and urbanization are contributing to this trend. According to World Bank data, 55% of the world's population lived in urban areas by 2020, a pattern expected to continue. Over the last two decades, global meat consumption has steadily risen, increasing by 58% to reach 360 million tons.
APAC's Strong Foothold in Food & Beverage Manufacturing to Drive Food Antioxidants Market Development
Asia Pacific emerged as the largest market for food antioxidants in 2021 and is projected to witness substantial growth over 2022-2030. The growing consumption of processed food items with high levels of food antioxidants in countries across APAC is primarily driven by the increased disposable income of consumers. This trend is expected to continue over the projected period, supporting regional market growth
An essential factor contributing to the expansion of the APAC market is the presence of well-established food & beverage manufacturing companies in the region. These companies are incorporating food antioxidants into their products to cater to the increasing demand from health-conscious consumers who prioritize dietary supplements, functional meals, and nutritional drinks enriched with antioxidants. Moreover, the growing preference for clean-label foods is also a significant driver behind the rising demand for food antioxidants in the food manufacturing sector.
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Table of Content
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact on Food Antioxidants Market
Chapter 5. Global Food Antioxidants Market Overview, By Source, 2017 - 2030 (USD Million)
Chapter 6. Global Food Antioxidants Market Overview, By Application, 2017 - 2030 (USD Million)
Chapter 7. Global Food Antioxidants Market Overview, By Type, 2017 - 2030 (USD Million)
Chapter 8. Global Food Antioxidants Market Overview, By Geography, 2017 - 2030 (USD Million)
Chapter 9. North America Food Antioxidants Market Overview, By Countries, 2017 - 2030 (USD Million)
Chapter 10. Europe Food Antioxidants Market Overview, By Countries, 2017 - 2030 (USD Million)
Chapter 11. Asia Pacific Food Antioxidants Market Overview, By Countries, 2017 - 2030 (USD Million)
Chapter 12. Middle East & Africa Food Antioxidants Market Overview, By Countries, 2017 - 2030 (USD Million)
Chapter 13. South America Food Antioxidants Market Overview, By Countries, 2017 - 2030 (USD Million)
Chapter 14. Competitive Landscape
Chapter 15. Key Vendor Analysis
Chapter 16. Sourcing Strategy and Downstream Buyers
Chapter 17. Marketing Strategy Analysis, Distributors/Traders
Chapter 18. Market Effect Factors Analysis
Chapter 19. Future Outlook of the Market
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