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Forecast Period
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2024-2028
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Market Size (2022)
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USD 1023.01 Million
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CAGR (2023-2028)
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6.82%
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Fastest Growing Segment
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Natural
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Largest Market
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North America
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Market Overview
Global Food Antioxidants Market has
valued at USD 1023.01 Million in 2022 and is anticipated to grow with a CAGR of
6.82% through 2028. Antioxidants are compounds that inhibit the cellular
oxidation process, which can potentially harm cells and generate free radicals.
They can be naturally obtained from a variety of fruits and vegetables, such as
raspberries, spinach, and eggplant, or they can be chemically synthesized and
used as additives in various applications. Additionally, they are widely
utilized as gasoline additives, plasticizers, and latex stabilizers, as well as
preservatives in many processed food products. Moreover, numerous pharmaceutical
and cosmetic products rely on antioxidants for their beneficial properties.
Amidst the projected population growth and the increasing demand for processed
goods, which drives a surge in prices, the market for antioxidants is expected
to expand.
Key Market Drivers
Growing
Population
The increasing global population has led
to a rise in food consumption, resulting in a growing demand for various
prepared food products. These products include meat, poultry, bakery items,
sweets, confectionery, oil, fish, and more. To ensure a longer shelf life
without compromising their health benefits, a small amount of food antioxidants
is incorporated into the formulation of these food products. The surge in
packaged food consumption worldwide is expected to drive the demand for food
antioxidants in the foreseeable future.
Furthermore, the demand for prepared
food is fueled by increasing disposable income and rapid urbanization. Working
professionals, facing time constraints, rely on convenient and nutritious
prepared food options. This shift in consumer lifestyle preferences is driving
the market for food antioxidants globally. Consumers are increasingly conscious
of the preservatives and nutrients used in food products, leading to a greater
emphasis on the role of food antioxidants. These factors are poised to
contribute to the growth of the food antioxidants market in the coming years.
Increasing
Demand of Antioxidants Among Consumers
Consumers are increasingly recognizing
the significance of a well-balanced diet and the role antioxidants play in
maintaining overall health. To align with their dietary goals and prevent
chronic diseases, consumers seek out food products that offer additional health
benefits, including antioxidants. Moreover, antioxidants are widely
acknowledged for their potential health advantages, such as their ability to
neutralize free radicals and reduce oxidative stress. With the global
population aging, the importance of preserving good health and preventing
age-related health issues has grown, leading to a higher demand for
antioxidant-rich food products.
The increasing consumer awareness of
healthier alternatives is expected to drive the demand for the Food
Antioxidants Market in the forecast period. In recent years, consumers have
shifted towards consuming processed foods such as snacks, meals, and beverages
in large quantities. To counteract the potential harm caused by processed foods
and to prevent oxidation, consumers have started consuming food antioxidants,
which help neutralize free radicals in the body. This is a major driving factor
for market growth.
Increasing
Demand for Extending Shelf Life of Food Products
The rise in purchasing power has enabled
consumers to buy in bulk, providing another boost to the market. As people's
purchasing power increases, so does the demand for products. Advancements in
technology have also extended the shelf life of food products, leading to an
increased demand for food antioxidants. The food market and the Food
Antioxidants Market are interconnected, resulting in automatic growth. However,
the high costs associated with natural antioxidants pose a challenge to the
market. Although synthetic antioxidants are low-cost alternatives, they are not
as healthy or safe as natural antioxidants. Safety concerns related to
synthetic antioxidants further restrict the growth of the Global Market.
Growing
Awareness About the Benefits of Antioxidants
The growing awareness surrounding the
numerous benefits of consuming healthy and nutritious food is a key driver
behind the increasing revenue growth in the market. Diets rich in antioxidants
have been shown to lower the risk of various illnesses, including heart disease
and cancer, by eliminating free radicals and preventing oxidative damage. For
example, dark chocolate, which contains higher amounts of cocoa and therefore
more minerals and antioxidants compared to conventional chocolate, is
considered a healthier option. The antioxidants found in cocoa and dark
chocolate offer health advantages such as reducing risk factors for heart
disease and mitigating inflammation. Individuals who consume foods rich in the
antioxidant lycopene, such as tomatoes, apricots, pink grapefruit, and
watermelon, have a lower risk of developing prostate cancer. Similarly, the
presence of lutein in spinach and maize helps to decrease the risk of
age-related eye lens degeneration and vision loss in the elderly, hence
contributing to the growth of the market. Spinach, being low in calories yet
abundant in vitamins, minerals, and antioxidants, is an excellent dietary
choice. With up to 0.9 mmol of antioxidants per 3.5 ounces (100 grams), spinach
is a good source of lutein and zeaxanthin, two antioxidants that protect the
eyes against harmful UV rays and other light wavelengths. Furthermore,
incorporating meals containing flavonoids, such as apples, grapes, citrus
fruits, berries, tea, onions, olive oil, and red wine, into one's diet can help
prevent cancer and metabolic disorders. All these factors significantly
contribute to the revenue growth observed in the food antioxidants market.
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Key Market Challenges
High
Cost of Natural Antioxidants
The high cost of natural antioxidants
poses a significant challenge, as the introduction of synthetic antioxidants at
a lower price point with limited health benefits has failed to meet the demand
of the general population. Safety concerns associated with synthetic
antioxidants serve as a major constraint in the food antioxidant market,
potentially impeding its growth. Additionally, the global pandemic has had a
profound impact on the consumption of meat and livestock products, leading to
increased consumer skepticism regarding the transmission of COVID-19 through
the consumption of these goods. Despite these obstacles, various food agencies
maintain that the safety and quality of the food supply chain remain robust,
with food antioxidants playing a vital role in overall business operations.
Formulation
and Stability Issues
Securing a stable and sufficient supply
of natural antioxidant sources can be difficult. Climate change, agricultural
practices, and other factors can impact the availability and pricing of these
natural sources, potentially leading to supply chain disruptions. Antioxidants
may interact with other ingredients in food formulations, affecting stability,
taste, texture, and appearance. Formulating products that maintain the desired
qualities while retaining antioxidant efficacy can be a technical challenge.
Key Market Trends
Expansion
of Delivery Channels
The expansion of e-commerce platforms
and direct-to-consumer channels provides food antioxidant suppliers with a
means to reach a broader customer base. Through direct interaction with
customers, there is an opportunity to enhance public understanding of the
benefits of antioxidants and tap into specialized and niche markets for
antioxidant goods. With increased emphasis on overall well-being, there was a
greater awareness of the role of antioxidants in promoting health. Consumers are
looking to incorporate antioxidant-rich foods into their diets, leading to a
surge in demand for products with naturally high antioxidant content.
Antioxidant
Blends
Companies are developing and marketing
antioxidant blends or combinations of different antioxidants to enhance their
effectiveness and provide a broader spectrum of protection against oxidation.
Blending different antioxidants also allowed for synergy in preventing oxidation
in various food applications. Beyond their traditional role of preventing
oxidation, food antioxidants are being promoted for their functional benefits,
such as promoting health and wellness. Manufacturers are leveraging scientific
research to highlight the potential health benefits of specific antioxidants,
such as their anti-inflammatory or anti-aging properties.
Segmental Insights
Type Insights
The
global food antioxidants market is categorized into natural antioxidants and
synthetic antioxidants based on type. It is anticipated that the natural
antioxidants segment will witness substantial revenue growth throughout the
forecast period. Natural antioxidants are abundant in foods and medicinal
plants, particularly phenolic compounds found in various plant parts such as
fruits, vegetables, nuts, seeds, leaves, roots, and bark. The use of different
plant products as natural antioxidants is being explored to enhance the overall
quality of meat and meat products, considering plants' rich reservoir of
bioactive chemicals that are beneficial to humans. Phenolic compounds, commonly
found in red and white wines, tea, coffee, grains, vegetables, fruits, and
cereals, are prominent secondary metabolites in plants.
Form Type Insights
Based on
the form, the global food antioxidants market is categorized into dry and
liquid segments. The dry segment is projected to exhibit a substantial growth
rate in terms of revenue during the forecast period. Dry fruits are
nutritionally rich and offer various therapeutic benefits. For instance,
almonds, a widely consumed dry fruit, are highly beneficial for both adults and
children due to their abundance in vitamin E, essential oils, and antioxidants.
These properties contribute to a reduced risk of heart disease, cancer, and
Alzheimer's disease. Almonds can be consumed either grilled or raw. These
factors collectively contribute to a significant market share in terms of
revenue for this segment.
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Regional Insights
North
America has emerged as the dominant market for food antioxidants, driven by
increasing consumer concerns about food safety and regulatory laws. This trend
is further fueled by the growing emphasis on healthy eating, organic and
natural foods, and the demand for convenient food products. The region also
experiences a rising demand for processed food, driven by industrialization,
and a preference for high-quality food. Ingredient suppliers are optimistic
about the growth of the food and beverage industry, creating a demand for
antioxidant products in the region. The Asia-Pacific region is also witnessing
a promising emergence in the international food additives market, contributing
to the growth of this sector.
Recent Developments
On May 27, 2021, Caldic announced a strategic
partnership in which Caldic Ingredients DACH will serve as Cargill's exclusive
partner for the food industry in Switzerland. The product line encompasses key
components such as cocoa, chocolate, as well as Cargill's starches, sweeteners,
and texturizers. This collaboration expands Caldic's product offerings,
catering to consumers in the bakery, beverage, confectionery, dairy, nutrition,
and savory food sectors.
In 2020, Archer Daniels Midland Company
unveiled its new range of plant-based clean-label food colors, demonstrating
their commitment to providing high-quality products. Additionally, the company
announced a significant expansion in the global production of non-GMO soy
protein concentrate, reinforcing their position as a key player in the
industry.
In 2020, DuPont de Nemours, Inc successfully
completed the acquisition of InnovaFeed, a renowned producer of insect protein
for animal feed. This strategic move allowed DuPont to enhance their portfolio
and enter the growing market for sustainable protein solutions. Furthermore,
the company launched an innovative line of plant-based meat alternatives under
its Danisco Planit brand, catering to the rising consumer demand for
sustainable and healthy food choices.
In another noteworthy development,
Koninklijke DSM N. V. acquired Glycom A/S, a leading supplier of human milk
oligosaccharides utilized in infant nutrition and dietary supplements in 2020.
This acquisition further solidified DSM's position as a key player in the
nutritional solutions industry, enabling them to offer a broader range of
high-quality products to meet the evolving needs of their customers.
Key Market Players
- Archer Daniels Midland Company
- BASF SE
- Camlin Fine Sciences, Ltd.
- Dow, Inc.
- DuPont de Nemours, Inc.
- Eastman Chemical Company
- Frutarom Industries Ltd.
- Kalsec, Inc.
- Kemin Industries, Inc.
- Koninklijke DSM NV
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By Type
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By Form
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By Application
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By Region
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- Meat & Poultry
- Bakery & Confectionery
- Fats & Oil
- Fish
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- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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Report Scope:
In this report, the Global Food Antioxidants Market
has been segmented
into the following categories, in addition to the industry trends which have
also been detailed below:
·
Food Antioxidants Market, By Type:
o Natural
o Synthetic
·
Food Antioxidants Market, By Form:
o Dry
o Liquid
·
Global Food Antioxidants Market, By Application:
o Meat & Poultry
o Bakery & Confectionery
o Fats & Oil
o Fish
·
Global Food Antioxidants Market, By Region:
o North America
§
United
States
§
Canada
§
Mexico
o Europe
§
France
§
United Kingdom
§
Italy
§
Germany
§
Spain
o Asia-Pacific
§
China
§
India
§
Japan
§
Australia
§
South
Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§
South
Africa
§
Saudi
Arabia
§
UAE
§
Kuwait
§
Turkey
Company
Profiles: Detailed
analysis of the major companies present in the Global Food Antioxidants Market.
Available Customizations:
Global Food Antioxidants market report with the given market data,
TechSci Research offers customizations according to a company's specific
needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
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released soon. If you wish an early delivery of this report or want to confirm
the date of release, please contact us at [email protected]