Food Antioxidants Global Market Report 2024

Food antioxidants encompass molecules that counteract free radicals and disrupt their activity, thereby safeguarding cells from potential damage. Several key food antioxidants are predominantly present in fruits, vegetables, and essential vitamins like E and C, along with various other plant-based food sources.

These antioxidants primarily fall into two categories such as natural and synthetic, available in both dry and liquid forms. They are derived from an array of sources such as fruits, vegetables, oils, spices, herbs, botanical extracts, and compounds like gallic acid. These antioxidants find application in diverse food sectors including fats and oils, prepared foods, meat and poultry products, seafood, bakery items, confectionery, plant-based alternatives, and nutraceuticals.

The food antioxidants market research report is one of a series of new reports that provides food antioxidants market statistics, including food antioxidants industry global market size, regional shares, competitors with a food antioxidants market share, detailed food antioxidants market segments, market trends and opportunities, and any further data you may need to thrive in the food antioxidants industry. This food antioxidants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The food antioxidants market size has grown strongly in recent years. It will grow from $1.83 billion in 2023 to $2 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth observed during the historical period can be credited to several factors including the extension of food shelf life, an increased awareness among consumers regarding health, the expansion of the food industry, the emphasis on natural and clean label trends, as well as advancements in food preservation techniques.

The food antioxidants market size is expected to see rapid growth in the next few years. It will grow to $3 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. During the projected period, growth can be attributed to the rising preference for clean label and natural ingredients, driven by heightened consumer focus on health and wellness. Additionally, factors such as the globalization of food trade, concerns about food safety and preservation, and amplified utilization in meat and poultry processing contribute to this growth trajectory. Key trends anticipated during this forecast period encompass innovative food processing techniques, the emergence of antioxidant-rich superfoods, the incorporation of regional and ethnic flavors into food products, a heightened focus on food fortification, and the continued popularity of convenience and snacking options within the market.

The surge in the utilization of food antioxidants for enhancing the shelf life of processed food products has fueled market growth. Food antioxidants play a crucial role in the food processing industry by preventing oxidation and enhancing flavor, aroma, and color. Beyond their application in food preservation, antioxidants have demonstrated value in treating various diseases, including cancer and coronary heart disease. This rise in the use of food antioxidants to extend shelf life has contributed to the expansion of the food antioxidants market. Notably, a March 2021 report from the National Center for Biotechnology Information highlighted the health-protective properties of antioxidants in fruits, vegetables, culinary herbs, and spices, emphasizing their role in safeguarding cells from oxidative stress and damage.

The anticipated growth in the consumption of plant-based meat is poised to further drive the food antioxidants market. Plant-based meats, predominantly composed of pea or soy protein, fats, and binders, incorporate food antioxidants to mitigate oxidation and prolong shelf life. This preservation aspect is particularly critical for ensuring the freshness and safety of plant-based meat products, given their typically shorter shelf life compared to processed or fresh animal-based meat. In 2022, plant-based meat sales experienced an 8% growth, reaching $304 million. Consequently, the escalating adoption of plant-based meat is expected to be a significant factor propelling the food antioxidants market.

Market players are increasingly embracing mergers and acquisitions as strategic initiatives to broaden their product portfolios and extend their operations into diverse geographical regions. This strategic approach presents growth opportunities for industry players to maximize revenues through expansions in both product offerings and market reach. A case in point is Kemin Industries, a prominent ingredient manufacturer, which acquired Proteus Industries Inc. in April 2021 to expand its portfolio with clean-label phosphate alternatives, meat block replacements, and fat block solutions. Similarly, in January 2020, Dupont, a leading chemical and bioscience company, entered into an agreement with International Flavors & Fragrances to merge their nutrition and industrial biosciences divisions. This merger is anticipated to benefit both entities, enhancing their capabilities to better serve their customer base.

Prominent players in the food antioxidants market are strategically prioritizing new product development and innovations, particularly in the realm of quality improvement for instant noodle manufacturers, as part of their efforts to broaden their product portfolios and gain a competitive edge. A notable example is Kemin Industries, a US-based company renowned for supplying over 500 specialty ingredients, which introduced VALTEQ in March 2023. VALTEQ represents a line of quality improvers specifically designed for instant noodle makers. Among its innovations, VALTEQ AO stands out as a newly developed product, presenting an all-in-one solution comprising natural antioxidants and emulsifiers that contribute to enhancing the overall quality of instant noodles.

In April 2021, Kemin Industries, a prominent ingredient manufacturer, successfully completed the acquisition of Proteus Industries Inc. for an undisclosed sum. This strategic move is anticipated to facilitate Kemin's portfolio expansion, incorporating clean-label phosphate alternatives, meat block substitutes, and fat block solutions. Additionally, the acquisition brings in valuable technological assets and skilled human resources from Proteus, a renowned food ingredient developer specializing in clean-label protein ingredients.

Major companies operating in the food antioxidants market include Archer-Daniels-Midland Company, BASF SE, Koninklijke DSM N.V, Kemin Industries Inc., Eastman Chemical Company, Frutarom Ltd., Barentz International B.V., Camlin Fine Sciences Ltd., Kalsec Inc., E.I. Du Pont De Nemours and Company, Cargill Inc., Advanced Organic Materials SA, VDH Chem Tech Pvt. Ltd., Vitablend Nederland BV, International Flavors & Fragrances Inc., De Nederlandse Staatsmijnen Co., DuPont de Nemours Inc., Naturex SA, Ajinomoto Co. Inc., Chr. Hansen Holding A/S, Yasho Industries Ltd., Givaudan SA, Global Specialty Ingredients (M) Sdn. Bhd., Riken Vitamin Co. Ltd., Zhengzhou Sigma Chemical Co. Ltd., Fenchem Biotek Ltd., Sumitomo Chemical Co. Ltd., Garuda International Inc., Döhler Group, Palsgaard A/S

Asia-Pacific was the largest region in the food antioxidants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food antioxidants market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the food antioxidants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

The food antioxidants market consists of sales of synthetic food antioxidants such as butylated hydroxytoluene (BHT), butylated hydroxyanisole (BHA), and propyl gallate (PG). Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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