The global food antioxidants market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the rising consumption of processed food along with wide applications of the substance for various meat and snack products.
Food antioxidants are majorly used in food processing techniques to maintain the nutrition level and hinder the process of oxidation of the food items. Food antioxidants are the molecules or compounds that are present in food products, which result in the enhancement of aroma, flavor, and color. Food antioxidants also play key role in animal and plant life cycle, as they are involved in complex metabolic process and signaling mechanism. Some vitamins such as vitamins C and E are major food antioxidants found in food items such as vegetables, fruits, meat, and other plant based products. Synthetic food antioxidants are used in food products to increase its shelf life. The most preferred synthetic antioxidants in the food industry are namely tert-butyl hydroquinone (TBHQ), butylated hydroxyanisole (BHA), propyl gallate (PG), and butylated hydroxytoluene (BHT).
The COVID-19 pandemic outbreak had negatively impacted the global food antioxidants market. During the pandemic, emergency lockdown imposed by government body had forced to temporary shutdown of hotels and manufacturing plant as part of policies to curb the virus spread. As a result, the supply chain of antioxidants had been completely disrupted across the globe. Additionally, the pandemic had adversely impacted the overall food market associated with meat, egg, and milk products, which considerably affected the antioxidant market. The market is expected to recover soon due to subsiding COVID cases.
Market Trends, Drivers, Restraints, and Opportunities
- Changing preferences of consumers towards healthier food options due to changing lifestyle and rising health-consciousness across the globe is one of the key factors driving the market.
- Surging demand for natural antioxidants from food industry to effectively preserve and restore the original quality of food items is projected to boost the market during the forecast period.
- Irregularity in the supply chain of natural food antioxidants and safety issues associated with synthetic antioxidants act as major challenges that can restrict the market growth in the coming years.
- Stringent government policies in developed economies regarding the use of antioxidant nutrients in food products is expected to hamper the market growth during the projected timeline.
- Growing demand of food antioxidants from emerging economies is anticipated to create significant growth opportunities for the market.
Scope of the Report
The report on the global food antioxidants market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
| Attributes | Details |
| Report Title | Food Antioxidants Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
| Base Year | 2020 |
| Historic Data | 2018–2019 |
| Forecast Period | 2021–2028 |
| Segmentation | Forms (Dry and Liquid), Applications (Fats & Oils, Beverages, Processed Food [Meat Products, Bakery & Confectionary, and Snack Products], and Others), and Types (Synthetic and Natural) |
| Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
| Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
| Key Players Covered in the Report | Archer Daniels Midland Co.; DuPont; Cargill, Inc.; Advanced Organic Materials, S.A; and BASF SE |
Market Segment Insights
Dry segment to grow at high CAGR
In terms of forms, the market is bifurcated into dry and liquid. The dry segment is estimated to grow at high CAGR during the forecast period owing to wide adoption of dry components in the preparation of processed food items. This type of antioxidants is easy to store and handle as dry form get easily mixed with many food products including prepared snack, poultry products, bakery & confectionary, and meat. On the other hand, the liquid segment is anticipated to register significant growth during the projected period attributed to growing demand for the antioxidants as they are considered to be an essential dietary nutrient.
Processed food segment to grow at rapid pace
Based on applications, the global food antioxidants market is fragmented into fats & oils, beverages, processed food, and others. The processed food segment is further sub-divided into meat products, bakery & confectionary, and snack products. The processed food segment is expected to grow at a rapid pace during the forecast period due to the growing use of antioxidants in processed food for increasing its shelf life. However, the fats & oils segment is projected to expand at a substantial growth rate in the coming years attributed to the rising demand of antioxidants from the sector as it prevents the autoxidation of fats & oils and increases its shelf life.
Growing inclination of consumer drives the natural segment
On the basis of types, the market is bifurcated into synthetic and natural. The natural segment is projected to expand at robust growth rate during the forecast period due to the growing inclination of consumer towards safer and clean-label food products. Additionally, the use of synthetic antioxidants is regulated in various regions, which is driving the segment growth further. On the other hand, the synthetic segment is anticipated to expand at a substantial CAGR during the forecast period owing to the lower costs and high availability.
North America to constitute a key market share
In terms of geography, the global food antioxidants market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period owing to the presence of the well-established food industry, available for government subsidization, and presence of key global market players in the region. However, the market of Asia Pacific is anticipated to grow at a rapid pace during the forecast period due to the rapidly increasing consumer base.
Segments
Segments Covered in the Report
The global food antioxidants market has been segmented on the basis of
Forms
Applications
- Fats & Oils
- Beverages
- Processed Food
- Meat Products
- Bakery & Confectionary
- Snack Products
- Others
Types
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Archer Daniels Midland Co.
- DuPont
- Cargill, Inc.
- Advanced Organic Materials, S.A
- BASF SE
Competitive Landscape
Key players competing in the global food antioxidants market are Archer Daniels Midland Co.; DuPont; Cargill, Inc.; Advanced Organic Materials, S.A; and BASF SE. Companies are focusing on investment in R&D for development and advancements in packaging and delivery system of processed foods to maintain their competitive position in the market. Companies have been widely engaged in strategic partnership, merger & acquisition, new product launch, and collaborations to boost their market share and acquire new buyers.
For instance, in October 2020, Maroon Group, a leading distributors of specialty chemicals and life science was acquired by Barentz. This acquisition was aimed to strengthen Barentz’s position further in North America and become a global leader in the chemical industries and life science. In October 2019, Nagase announced the acquisition of a US-based distributor of functional ingredients, Prinova to expand its product portfolio by including premium nutrition ingredients and customer base in Nagase. In July 2018, a US-based specialty ingredients supplier for human and animal health and nutrition, Kemin Industries included a new Fortium RVC, a rosemary and ascorbic acid blend antioxidant to its portfolio of antioxidant solutions. The newly added antioxidant can be used as a substitute to traditional tocopherols in snack and bakery applications.
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