ID: MRFR/F-B & N/8831-CR | September 2020 | Region: Global | 100 pages
Antioxidants Market to touch a valuation of USD 9975.06 Million by 2026. MRFR also projects the market’s growth rate to be 5.30% between 2020 and 2026. Antioxidants are used as vitamin supplements and also it is used to preserve food products. Antioxidants are molecules that can fight the free radicals in the body. Free radicals can cause various health problems in the body, and they are linked to many diseases heart disease, diabetes, cancer, and multiple illnesses. The body has its own antioxidants defenses to keep the free radicals away, but antioxidants supplements can offer a high number of antioxidants that can be beneficial for health.
Apart from the human body, antioxidants play a major role in the food industry to increase the shelf-life. It is also used as fuel, latex, plastic, and additionally, it is a vital ingredient in pharmaceutical and cosmetic products. There are various factors supporting the Antioxidants industry growth, such as increasing population, rising demand for processed foods, and rapid growth of pharmaceutical sectors. The market is expected to grow rapidly in the global market forecast period due to the wide range of applications of antioxidants in various industries and sectors.
Traditionally antioxidants are known to be the most vital cosmeceutical that can reduce cellular damage. Then antioxidants have gained popularity because they can reduce the aging effect of the skin and provide protection against toxic free radicals. Furthermore, increasing the use of natural antioxidants such as Vitamin E, Vitamin C, and polyphenols in cosmetics is expected to boost the global market revenue. In recent times Vitamin C and Vitamin E have been used in the production of pharmaceutical supplements. The rising healthcare sector with the increasing customer spending with government initiative will propel the Antioxidants market trends in the next few years.
Covid-19 is the most common reason behind the declining growth of many business organizations. Due to this, the global economy is down. To take control of this situation, the government declared lockdown. Due to this, the production work was disturbed, and due to this, the food & beverage industry was highly affected. Various manufacturing units remained shut, and the supply chain was disrupted. The import and export activities were also restricted. People stayed at home all the time, and many of them lost their job due to this pandemic. As a result, the purchasing power of people declined. All the factors had a negative impact on the food & beverage industry. It had a negative impact on the Antioxidants industry as antioxidants are sued in the production of food & beverage. The global situation is normalizing and returning back to the usual pace, and the key players are trying to recover from the losses with their strategies which is expected to propel the Antioxidants market growth.
Drivers in the Antioxidants market
The use of antioxidants in the food industry is one of the major drivers in the Antioxidants market. Abstract oxidation is a common problem faced in the food industry, as it reduces the shelf-life of food products. To solve this problem, food manufacturers have started the use of antioxidants to stabilize the free radicals and improve color stability. Due to this, antioxidants are gaining momentum in the food & beverage industry. In addition, rising demand for processed foods that contain antioxidants compounds is likely to boost the Antioxidants industry trends, according to Antioxidant’s market analysis. According to the United States Bureau of Labor Statistics, in 2019, the working population has increased from 64.4% in 2018 to 64.9% in 2019, which has increased the demand for processed food.
Furthermore, functional foods are gaining popularity, and people are demanding nutritionally rich, high-protein foods. It has encouraged manufacturers to produce new food products with antioxidants to improve their shelf lives.
Opportunities in the Antioxidants market
The rising per capita income of people, growing population, rapid urbanization has propelled the demand for meat consumption in developed countries. Global meat consumption has been increasing rapidly over the past years. That is why the demand for meat preservatives has increased, and this is expected to bring opportunities for the Antioxidants market. Rising income has also propelled the processed food, and it will also generate opportunities.
Restrains in the Antioxidants market
Many regulatory bodies are monitoring the food preservatives and additives because they can put public health at risk. Some major threats can be a digestive disorder and allergic. To make sure maximum safety, the regulatory bodies have laid down the dosage of these preservatives. The government is taking various initiatives to check food standards to counter preservative overdose. And it a big restraint in the global market.
Challenges in the Antioxidants market
The production of the antioxidants has to be done properly to prevent any type of health issues. That is why it has become very crucial to manufacturing these products in a proper way. The lack of equipment and skilled laborers in the underdeveloped region has become a challenge for the Antioxidants market.
Cumulative Growth Analysis
There are various growth factors in the Antioxidants market, and due to this, the market has grown at a rapid pace over the years. Antioxidants are heavily used in various industries, and due to this, the Global market will register a healthy CAGR of 5.3% in the forecast period.
The antioxidants market is segmented on the basis of type and application.
Based on type, the Antioxidants market is segmented into natural and synthetic. The natural segment is expected to hold the largest Antioxidants industry share owing to the increasing concerns over the use of synthetic products in the food sector. The synthetic segment is also used in various industries, and it is likely to grow at a faster rate in the forecast period owing to the wide availability and lower costs.
Based on application, the Antioxidants market is divided into food & beverage, pharmaceutical, cosmetic, feed additive, and others. The food and beverage segment is expected to hold the highest global market share because antioxidants are majorly used as preservatives in this industry. The pharmaceutical and feed additives will also rise at a rapid pace due to increasing population.
The major regions in the Antioxidants market are Asia Pacific, Europe, North America, and Middle East & Africa. The Asia Pacific region was accounted for the highest Antioxidants industry share in 2020 with a value of $ 1.71 billion. This region is showing substantial growth owing to the rising population. According to a report, Asia Pacific consumed 1,651.3 million tons of oil in 2018 as fuel. This region is also a huge, processed food sector that will drive the market demand in this region as well.
North America will also grow at a significant rate owing to the well-established food industry and rapidly increasing defense and aerospace sector. Manufacturers are using new technologies to formulate antioxidants, and it will support the Antioxidants market in this region.
Europe will witness moderate growth due to the presence of well-established automotive sectors and the rising number of vehicles. The increasing tourism activities in the Middle East are the major factors in the market growth. Africa will witness growth in the market due to rising meat consumption in this region.
The key players contribute highly to the Antioxidants market growth. And some of the major key players in the market are
These are some of the major key players in the market that contribute highly.
The points covered in this Antioxidants market report are the major drivers, restraints, challenges, and opportunities in the market. This report provides an global market outlook due to the impact of a covid-19 pandemic. Furthermore, this report involves market segmentation, regional analysis, and recent developments. This report also highlights the top key players in the market.
|Market Size||USD 9975.06 Million (2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Natural, Form, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Kemin Industries Inc. (US), BASF SE (Germany), Kalsec Inc. (US), Archer-Daniels-Midland Company (US), Koninklijke DSM N.V. (Netherlands), Eastman Chemical Company (US), Barentz Group (Netherlands), International Flavors & Fragrances Inc. (US), DuPont de Nemours Inc. (US) and Adisseo (France)|
|Key Market Opportunities||Emerging Countries to Offer Attractive Opportunities|
|Key Market Drivers||Growing Consumer Awareness Regarding Food Ingredients to Propel Growth|
Frequently Asked Questions (FAQ) :
The Global Antioxidants Market would register a growth of 5.30%.
The forecast period of Global Antioxidants Market is 2021 to 2027.
Global Antioxidants Market will gain a valuation of USD 9975.06 Million by 2027.
Archer-Daniels-Midland Company, Inc., Koninklijke DSM N.V., WuXi AppTec, Eastman Chemical Company are among some of the top players investing in Global Antioxidants Market.
The study of the Global Antioxidants Market is studied through segments of type, form, and application.