The global food antioxidants market is expected to reach a market size of USD 3.43 Billion at a steady CAGR of 6.2% in 2028, according to latest analysis by Emergen Research. This steady revenue growth can be attributed to changing consumer preferences, rising health and wellness concerns, and changing lifestyle. Demand for functional foods has been increasing due to rising prevalence of non-communicable diseases as a result of weakened immunity.
food antioxidants market further provides an inside-out overview of necessary aspects associated with the product classification, important definitions, major orders and other industry-centric parameters. An underlying part of the study also maps the important factors associated with the recent events such as mergers and acquisition, collaboration and new product launches.
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Increasing utilization of food antioxidants for production of functional foods is expected to drive growth of the food antioxidants market during the forecast period. Growing demand for home food preservation options is another factor contributing to rising utilization of food antioxidants in food and beverage industries.
Increasing consumer preference for natural antioxidants is another factor driving market growth. Rising need to reduce spoilage and prevent deterioration and quality of meat due to microbial growth and lipid oxidation are other key factors contributing to increasing utilization of natural antioxidants across food and beverage industries. Food companies are increasingly utilizing naturally sourced antioxidants to maintain flavor and color and to extend the shelf-life of processed, fresh, cooked, and pre-cooked meats and related products.
Key Highlights of Report
In January 2020, BASF announced that it is planning to expand production capacity for its antioxidant Irganox 1520L by 20% at the site in Pontecchio Marconi, Italy. Irganox 1520L is a key product in the antioxidant portfolio of BASF. The expansion is expected to help the company meet growing demand for antioxidants among its global consumers.
Prepared meat & poultry segment accounted for largest market share of 2020. Rising need to extend the shelf-life of food products and enhance food quality is driving utilization of food antioxidants in prepared meat and poultry products.
Natural antioxidants segment revenue is expected to expand at a rapid CAGR during the forecast period. Health risks associated with consumption of synthetic antioxidants and the potential toxicological effects is driving demand for natural antioxidants.
Fruits and vegetables segment accounted for a significantly high revenue share in the food antioxidants market in 2020. Health-conscious consumers are increasingly preferring natural antioxidants derived from fruits and vegetables.
The competitive landscape section of the report talks about the recent advancements in the R&D and technologies undertaken by the prominent players, along with their strategic business expansion plans, product launches, and brand promotions. The report pays special attention to the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, agreements, corporate and government deals, and others adopted by the prominent players of the industry to expand their market presence and gain a substantial market position.
Key market participants include BASF SE, Archer-Daniels-Midland Company, Koninklijke DSM N.V., DuPont, Eastman Chemical Company, Kemin Industries, Barentz Group, Camlin Fine Sciences Ltd., Kalsec Inc., and BTSA.
The global Food Antioxidants market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Food Antioxidants market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Food Antioxidants market.
Emergen Research has segmented the global food antioxidants market on the basis of application, type, source, and region:
Application Outlook (Revenue, USD Billion; 2021–2028)
Fats & Oils
Prepared Meat & Poultry
Bakery & Confectionery
Type Outlook (Revenue, USD Billion; 2021–2028)
Source Outlook (Revenue, USD Billion; 2021–2028)
Fruits and Vegetables
Spices and Herbs
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The research study also offers insights into various regulatory frameworks and evaluates the growth of the industry in each key region of the world. The report also provides an assessment of the micro and macro-economic factors influencing the growth of the market in the mentioned regions. The global Food Antioxidants market is segmented into the following based on the key regions of the world:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The all-inclusive report on the Global Food Antioxidants Market added by Emergen Research demonstrates that the global Food Antioxidants market is presumed to grow at a steady CAGR throughout the forecast timeline. The report analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the Food Antioxidants market. The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market.
Summary of the Global Food Antioxidants Report:
Comprehensive analysis of the market including risks and opportunities
Details of business strategies and plans undertaken by key market players
Analysis of current and future trends that will affect the growth of the market in the forecast timeline
In-depth analysis of drivers and constraints for better understanding of the market
The report encompasses a detailed forecast for the years 2021-2028.
The report provides valuable insights on key market growth driving trends and monetary competence in the forecast timeline.
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