The global antioxidants market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Antioxidants are molecules that prevent oxidation of different substances. Antioxidants extend the shelf life of food products by protecting them from oxidation which causes fat rancidity and color changes. Antioxidants are also used as cosmetics additives for various purposes such as to prevent damage of cells and to reduce free radicals (anti-aging etc.). They are also used as animal feed additives to protect feed nutrients from oxidation. Antioxidants are also widely used as additives for automotive fuels, lubricants, polymers and others.
Based on the source of production, antioxidants are of two – synthetic and natural.
- Synthetic antioxidants include BHA (butylated hydroxyanisole), BHT (butylated hydroxytoluene), TBHQ (tert-Butylhydroquinone), Ascorbyl Palmitate (Vitamin C), Propyl Gallate and others
- Natural antioxidants include Rosemary, Astaxanthin and others
Rising demand for preservatives and food, cosmetic, feed and other additives from various industries such as food, healthcare, cosmetics, animal feed and other industries is likely to drive the antioxidants market. As preservatives and additives are one of the major raw materials for these industries, demand for antioxidants is expected to increase. Demand for preservatives and additives is actually increasing because of growing population and extra income in developing countries.
Drivers and Restraints of Global Antioxidants Market
Growing investments in downstream industries in regions like the Asia and Americas are likely to offer tremendous possibilities for antioxidants market in the future. As a result of accessibility to raw material, multinational businesses are investing in resource-rich regions to be able to limit the overall production cost.
Antioxidants, especially synthetic ones have a probability of volatility in supply and price due to production costs. Few synthetic antioxidants are not suitable for human consumption which makes regulatory institutions to implement strict regulations on usage of antioxidants. Existing and future regulations concerning the use of antioxidants in end products are likely to challenge the market growth.
Global Antioxidants Market by Region
Asia was the largest consumer of antioxidants and this pattern is anticipated to continue to be identical over the following few years. Consumption in Asia is showing upward trend because of increase in economic activity in China. China and Japan were the largest consumers of antioxidants in this region. Growing demand for preservatives and additives from food, healthcare, cosmetics, animal feed and other industries will drive antioxidants market in Asia. The growth of consumption of antioxidants in Americas will grow at a reasonable rate next to Asia. Europe is likely to grow at a significant rate due to demand from food, cosmetics, animal feed, lubricants and other industries. Demand from Africa and the Middle East was low relatively and is likely to stay same in the next few years.
Top players in this market include Archer-Daniels-Midland Company, BASF SE, E.I.DuPont El Nemours and Company, Barentz International BV, Kalsec Inc., Kemin Industries, Inc., Koninklijke DSM N.V., Nutreco N.V., Cargill Incorporated, Aland (Jiangsu) Nutraceutical Co. Ltd., and Naturex S.A.
The report covers exhaustive analysis on:
- Global Market Size
- Global Market Segments
- Market Regional Analysis
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of volume and value
- Current industry developments
- Competitive landscape
- Potential and niche segments, regions showing promising growth