Antioxidants are synthetic or naturally existing substances that extend the shelf life of food products and help maintain a balanced diet. Rise in demand for pharmaceuticals, food & beverages, and animal feed additives that utilize antioxidants drives the growth of the market . Upsurge in demand for beverages and fortified foods owing to healthy lifestyle and increase in use of antioxidants in cosmetics due to their benefits on skin post application are anticipated to drive the antioxidants market growth during the forecast period. In the coming years, the synthetic antioxidants market is anticipated to dominate over natural antioxidants market. However, lack of knowledge and awareness about the harmful effects of antioxidants is projected to restraint the market growth.
Rosemary extract that is derived from Rosmarinus officinalis contains antioxidants. EU organic regulations approved the usage of rosemary extract in organic products specified by the European Regulation 344/2011/EU, providing new opportunities for the market during the forecast period.
Exponential increase in the world population is expected to result in rise in demand for antioxidants in food & beverages, pharmaceuticals, and animal feed additives. In Asia-Pacific, undernourishment cases are very high; therefore, the usage of antioxidants as a supplement extensively minimizes this issue. Framers feed antioxidants additives to the animals to enhance the milk yield. In addition, antioxidants are used as in food & beverage industries to increase the shelf life. Presently, numerous packed food products that contain preservatives include different types of antioxidants, which is one of the major impacting factors for the market.
The demand for antioxidants is increasing rapidly due to its multiple benefits in different industries. The market for fortified food & beverages has increased significantly; however, previously the shorter shelf life of food products was a challenge, which was overcome by the use of synthetic antioxidants that act as “life extenders.” Synthetic antioxidants - such as BHT, BHA, and others - increase the shelf life of the food products, stimulating their demand in the market. Natural antioxidants are mainly used in pharmaceutical industry as vitamin supplements and as antiaging agents in personal care products because they possess the property of preventive care. Moreover, developing economies struggle with undernutrition problem, which can be overcome by antioxidants, thus increasing the demand for antioxidants in the pharmaceutical industry. Adding antioxidants to feed increases its quality and effectiveness; hence, BHT and BHA are highly used in animal feed additives. These factors are responsible to drive the growth of the global antioxidants market.
The outbreak of COVID-19 has negatively affected the manufacturing activities and disrupted the distribution network of the antioxidants market globally. People were forced to stay in their homes to limit the spread of the disease. Government’s stringent rules regarding social distancing and complete lockdowns resulted in huge losses for vendors operating in the market. All the major key players and other sales channel were closed during the lockdown period. However, a V-shaped recovery is expected in the post-COVID-19 period.
The report segments the market based on type, form, application, and region. On the basis of type, the market is segmented as natural antioxidants and syndicate antioxidants. By form, the market is classified as dry and liquid. On the basis of application, the market is divided as food & feed additives, pharmaceuticals & personal care products, fuel & lubricant additives, plastic, rubber, & latex additives and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players in the antioxidants industry 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.
Rosemary extract that is derived from Rosmarinus officinalis contains antioxidants. EU organic regulations approved the usage of rosemary extract in organic products specified by the European Regulation 344/2011/EU, providing new opportunities for the market during the forecast period.
Exponential increase in the world population is expected to result in rise in demand for antioxidants in food & beverages, pharmaceuticals, and animal feed additives. In Asia-Pacific, undernourishment cases are very high; therefore, the usage of antioxidants as a supplement extensively minimizes this issue. Framers feed antioxidants additives to the animals to enhance the milk yield. In addition, antioxidants are used as in food & beverage industries to increase the shelf life. Presently, numerous packed food products that contain preservatives include different types of antioxidants, which is one of the major impacting factors for the market.
The demand for antioxidants is increasing rapidly due to its multiple benefits in different industries. The market for fortified food & beverages has increased significantly; however, previously the shorter shelf life of food products was a challenge, which was overcome by the use of synthetic antioxidants that act as “life extenders.” Synthetic antioxidants - such as BHT, BHA, and others - increase the shelf life of the food products, stimulating their demand in the market. Natural antioxidants are mainly used in pharmaceutical industry as vitamin supplements and as antiaging agents in personal care products because they possess the property of preventive care. Moreover, developing economies struggle with undernutrition problem, which can be overcome by antioxidants, thus increasing the demand for antioxidants in the pharmaceutical industry. Adding antioxidants to feed increases its quality and effectiveness; hence, BHT and BHA are highly used in animal feed additives. These factors are responsible to drive the growth of the global antioxidants market.
The outbreak of COVID-19 has negatively affected the manufacturing activities and disrupted the distribution network of the antioxidants market globally. People were forced to stay in their homes to limit the spread of the disease. Government’s stringent rules regarding social distancing and complete lockdowns resulted in huge losses for vendors operating in the market. All the major key players and other sales channel were closed during the lockdown period. However, a V-shaped recovery is expected in the post-COVID-19 period.
The report segments the market based on type, form, application, and region. On the basis of type, the market is segmented as natural antioxidants and syndicate antioxidants. By form, the market is classified as dry and liquid. On the basis of application, the market is divided as food & feed additives, pharmaceuticals & personal care products, fuel & lubricant additives, plastic, rubber, & latex additives and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players in the antioxidants industry 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.
KEY MARKET BENEFITS FOR STAKEHOLDERS
- The report provides extensive analysis of the current & emerging trends and opportunities in the antioxidants market
- The report provides detailed qualitative and quantitative analyses of current trends and future estimations, which help to understand the prevailing market opportunities
- A comprehensive analysis of factors that drive and restrict the growth of the antioxidants market is provided in the study
- An extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework
- The report provides extensive qualitative insights on the potential & niche segments as well as countries exhibiting favorable growth
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Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Antioxidants Market, by Type
Chapter 5: Antioxidants Market, by Form
Chapter 6: Antioxidants Market, by Application
Chapter 7: Antioxidants Market, by Region
Chapter 8: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Antioxidants Market by Type, Form, and Application: Global Opportunity Analysis and Industry Forecast, 2022–2031,”The global antioxidants market size was valued at $3,437.3 million in 2020, and is projected to reach $7,376.4 million by 2031, registering a CAGR of 6.9% from 2022 to 2031. The synthetic antioxidants segment dominated the market in 2020, with more than half share, in terms of revenue.
Antioxidants are the vital ingredients that provide longer shelf life to food products and are used as vitamin supplements in pharmaceutical industries. The global antioxidants market is anticipated to witness significant growth during the forecast period owing to decrease in antioxidant costs, increase in investment & approval of antioxidants by many regulatory authorities, and increase in demand for antioxidants in food & beverage industry. Developed economies are trending toward natural antioxidants such as rosemary extract, creating new growth opportunities for the market. On the other hand, Asia-Pacific is expected to show growth in the demand for synthetic antioxidants during the forecast period.
According to the antioxidants market analysis, the market is segmented based on type, form, application, and region. By type, the market is segmented into natural antioxidants and syndicate antioxidants. On the basis of form, the market is classified into dry and liquid. According to application, the market is classified into food & feed additives, pharmaceuticals & personal care products, fuel & lubricant additives, plastic, rubber, & latex additives, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The synthetic antioxidants accounted for more than half of the market, in terms of revenue, in 2020 as it is being widely utilized in pharmaceuticals & personal care products industries owing to its healthy moisturization properties and natural stability. This segment is projected to dominate during the forecast period, and the market is anticipated to show significant growth in Asia-Pacific, whereas growth will remain steady in North America.
Dry form segment witness a major growth in the market owing to its properties of salt and calorie-free, as well as fat-free. Owing to the longer shelf life and better handling properties, dry form of antioxidants is most preferred in wide range of application such as food & feed additives, pharmaceuticals & personal care products, among others.
Plastic, rubber, & latex additives segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 6.3% during the antioxidants market forecast period. Utilization of antioxidants in cosmetic compositions is expanding as customers' preference for organic and healthy ingredients increases.. Favorable government regulations, which encourage the use of natural ingredients in these formulations also assist in supplementing the growth of the pharmaceuticals & personal care products segment.
Cosmetic discounters segment is projected to dominate the market accounting for more than 35% share growing at significant CAGR of 12.2% from 2022 to 2031. Increase in availability of antioxidants through hypermarkets & supermarkets, food specialty stores, pharmacy and cosmetic discounters, coupled with advice of doctors to use antioxidants for skin treatment such as psoriasis or acne is expected to boost the sales through these distribution channels.
Increase in the health problems and premature aging problems will have positive impact on the market of natural antioxidants. Germany is one of the largest contributors in the antioxidants market. Asia-Pacific regions are expected to project a CAGR of 6.4% in synthetic antioxidants owing to huge market for suppliers.
The European and North American antioxidants markets are expected to offer lucrative growth opportunities during the forecast period. Increase in pre-aging problems, health issues due to antioxidants deficiency among African regions and in Asia-Pacific, and food safety concerns are key drivers for the antioxidants market growth. The U.S. and China contributed major revenue share, with China holding the monopoly in vitamin C production.
The key companies profiled in antioxidants industry are BASF SE, Cargill, Inc, Kemin Inc., Industries, Inc., Koninklijke DSM N.V., Nutreco N.V., and ViTablend Nederland B.V. Product launch with quality is the key strategy adopted by well-established players to compete in the market.
Key Findings Of The Study
- The report provides a quantitative analysis of the current antioxidants market trends, estimations, and dynamics of the market size
- By type, the syndicate antioxidants segment dominated the global market in 2020, and is expected to retain its dominance throughout the forecast period
- On the basis of form, the dry segment led the global antioxidants market demand in 2020, and is expected to retain its dominance throughout the forecast period
- By application, the plastic, rubber, & latex additives segment dominated the global market in 2020, and is expected to retain its dominance throughout the forecast period
- Region wise, Asia-Pacific accounted for highest antioxidants market share in 2020, and is expected to grow at a CAGR of 64%
Companies Mentioned
- Archer-Daniels-Midland Company
- ASF 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.
- Naturex S.A.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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