Global Food Antioxidants Market

Food Antioxidants Market Insights

Food antioxidants are the substances that minimize the damage caused due to oxygen,  helps in prevention from the deterioration of stored food products. It is often referred to as the compounds used to inhibit oxidation or compounds used to remove potential oxidizing agents responsible to damage living organisms. This is done by blocking the chemical reaction produced by free radicals that end up performing a series of reactions thereby harming the cells of the organisms. Most frequently found antioxidants are lutein, lycopene, vitamin C, flavonoids, vitamin E, and beta-carotene present in vegetables, fruits, and herbs of the normal diet. The studies performed by GME has shown a sharp peak in the global antioxidant market, which is estimated to rise at a CAGR of 6.1% in the middle of 2020-2026 tenure.

The food antioxidants perform key functions such as improved shelf life of food items, prevent rancidity, thus increase the demand for packaged food, processed meat, and other food items, resulting in building the market of the food antioxidant across the globe. Increment in the consumption of processed food among the growing population has led to uplift the entire food antioxidant market in recent times. Moreover, the coupling of increased purchase demand with improving shelf-life of the product has led to a growing demand for the food antioxidant. Raising awareness among different consumers for the adoption of healthier replacement which provides benefits such as improve prostrate health, eye health, urinary tract, and heart health is anticipated to proliferate the demand for the product in the coming years.

However high cost of natural antioxidants has turned out to be a big challenge and the launch of synthetic antioxidants at a lower cost with limited health-related benefits has not fulfilled the demand of the general population. The safety issues offered by synthetic antioxidants is one of the major restraints of the food antioxidant product which is enough to hamper the entire product market. Also, the arrival of the global pandemic has severely affected the consumption of meat and livestock products and increased skepticism among consumers about the transmission of COVID-19 to humans through  the consumption of these products. Despite all the hurdles, various food agencies believe the safety and quality of food supply remain strong and food antioxidants continued to play a vital role in the overall business.  

Food Antioxidants Market: By Form

The two bifurcations of the food antioxidants based on forms are natural and synthetic antioxidants. Among the two, synthetic antioxidants are more affordable,  have high production capacity, and the domination of the synthetic segment as the main driver of the developing countries is the prime cause of its robust growth. However limited safety of the synthetic segment is the major market de-accelerator of the synthetic antioxidant which results in the increment of natural antioxidant market shares.

Food Antioxidants Market: By Form

Dry and liquid are the two forms of the food antioxidants market. Out of the two, the dry antioxidant is expected to account for the largest market share in the coming years owing to high demand from the food producers, as they are easy to get mix with different food products. Easy storage as compared to liquid antioxidants is another factor creating the demand for the dry segment of the product. The majority of synthetic antioxidants are in a dry state which leads to building the robust growth of the dry segment.

Food Antioxidants Market: By Application

The application of the food antioxidants can be explained as prepared foods, fats & oils, prepared meat & poultry, bakery & confectionery, seafood, plant-based alternatives, nutraceuticals, and other applications. Easy degradation of meat & poultry products has increased the usage of food antioxidants to improve the shelf life of the product. This made the meat & poultry segment the most fastest-growing application segment of the food antioxidant products. Also raising food safety concerns of synthetic and natural antioxidant compounds is currently preferred for application in different types of meat and poultry products.

Food Antioxidants Market: By Source

The sources of the food antioxidants are segmented into oils, fruits & vegetables, spices & herbs, gallic acid, botanical extract, petroleum-derived. The oils & petroleum-derived segment is expected to share the largest market of the food antioxidant products. Ease of product availability and wide application of the segment are the factors contributing to the growth of the oils & petroleum-derived segment. This segment has played a vital role in increasing the shelf life of the various food products thus targeting a wider range of applications and markets.

Food Antioxidants Market: By Region

Raising consumer's food safety concerns and stringent regulatory laws have made the Asia-Pacific region the most dominant region of the food antioxidant market. The arrival of trends such as healthy eating, incident focus towards organic and natural foods, and increasing need for convenience food products is adding value to the overall food antioxidant market in the region. Increasing demand for processed food, growing industrialization, preference for quality food, optimistic behavior of ingredient suppliers about the food and beverage industry growth is creating demand for antioxidant products in the region. The international food additives market is now witnessing emergence in the Asia-Pacific region which has turned out to be promising for the growth of this sector. 

Food Antioxidants Market Share and Competitor Analysis

The key players operating in the market include BASF SE, Archer-Daniels-Midland Company, Koninklijke DSM N.V., Eastman Chemical Company, Kemin Industries, Inc., DuPont, Barentz Group, BTSA, Vitablend Nederland BV, and Crystal Quinone Pvt Ltd. among others.

Please note: This is not an exhaustive list of companies profiled in the report.

In October 2020, Barentz Group announced its acquisition of one of the leading distributors of life science ingredients and specialty chemicals in the North American region. The acquisition aims to strengthen the company in the North American region and become the global leader of the life science ingredient and specialty chemicals

In October 20219, Nagase announced its purchase of Prinova,  a US-based company. The focus is to expand the product portfolio of the company by including premium nutrient ingredients and increase the customer base of Nagase.