The food antioxidants market is experiencing steady growth due to increasing consumer awareness about the health benefits of antioxidants and their role in preventing oxidation and deterioration of food products. Antioxidants are substances that inhibit the oxidation of other molecules, thereby protecting cells from damage caused by free radicals.The global food antioxidants market size was valued at US$ 1.5 billion in 2022 and is poised to grow from US$ 1.6 billion in 2023 to US$ 2.2 billion by 2028, growing at a CAGR of 6.2% in the forecast period (2023-2028).
Antioxidants are substances that stop the oxidation process, which could harm organisms' cells and lead to the creation of free radicals. They can be acquired naturally from a variety of fruits and vegetables, including raspberries, spinach, and eggplant, or they can be produced artificially and used as additions for a variety of uses. In addition to being widely utilised as a preservative in many processed food goods, it is also widely employed as an additive for fuel, plastic, and latex. Additionally, it plays a crucial role in many pharmaceutical and cosmetic items. Also contributing to the market's growth throughout the projected period will be the world's growing population, and the high demand for processed foods, provides an explosive rise.
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Key factors driving the growth of the food antioxidants market include:
- Health consciousness: Consumers are increasingly seeking out foods with natural ingredients and health-promoting properties, including antioxidants. There is growing awareness about the potential health benefits of antioxidants, such as reducing the risk of chronic diseases like cancer and cardiovascular diseases.
- Rising demand for natural antioxidants: With a shift towards clean-label and natural products, there is a growing demand for natural antioxidants sourced from fruits, vegetables, herbs, and spices. Manufacturers are responding to this demand by incorporating natural antioxidants into their food and beverage formulations.
- Extension of shelf life: Antioxidants play a crucial role in extending the shelf life of food products by preventing oxidation and rancidity. As a result, food manufacturers are increasingly incorporating antioxidants into their products to enhance stability and prolong freshness.
- Technological advancements: Ongoing research and development efforts are leading to the discovery of new and more effective antioxidants, as well as innovative technologies for incorporating antioxidants into food products without affecting their taste, texture, or appearance.
- Regulatory support: Regulatory agencies worldwide are increasingly recognizing the importance of antioxidants in food preservation and safety. Regulatory approvals and certifications for antioxidant ingredients provide manufacturers with assurance regarding the safety and efficacy of their products.
Market Opportunities: Popularity of long shelf life of products due to usage of antioxidants as preservatives boosts the market
Awareness about food antioxidants is low, and emerging economies such as China and India are experiencing high industrialization. As these emerging economies grow and attain high disposable income, their demand for food antioxidants is also rising. The Asia Pacific region is exhibiting increased demand for prepared and functional foods & beverages, and hence, the region’s food antioxidants market is expected to grow. The demand for food antioxidants is expected to grow at a modest pace in early adopting countries such as Japan and Germany and at an exponential rate in new & emerging markets such as Thailand, Malaysia, and other Asian countries.
The growing global population is putting more pressure on producers for the manufacturing, extraction, and maintenance of scarce resources. High energy prices and rising raw material costs are impacting food prices, thus affecting low-income consumers. Pressure on food supplies is being exacerbated by water shortages, particularly across Africa and Northern Asia. Advances in science and technology are helping in extending the shelf life of foods to a greater extent. The need for marketing food preservatives to the smallest of food & beverage manufacturers is expected to augment the market size.
In emerging markets, where lifestyles are changing rapidly, the demand from workplaces and homes are competitively increasing, leading to a greater preference for convenience. Fast food is expected to increasingly become differentiated from junk food as quick and easy, but healthy options are preferred. Identifying ingredients with naturally high nutritional value could be a key opportunity for suppliers and manufacturers. An increase in the population of working women and the dominance of nuclear double-income families, especially in urban areas, are other trends shaping the changing lifestyles. Busy lifestyles and changing consumption patterns have led to an increased demand for processed, ready-to-cook, and ready-to-eat food, leading to increased brand-consciousness.
The fruits & vegetables in by natural sources segment accounted for the largest share of the food antioxidants market in 2023 in terms of value.
Naturally derived antioxidants from fruits and vegetables are gaining popularity in the food industry for several reasons. One of the factors is, health benefits of the naturally sourced antioxidants from fruits & vegetables. Fruits and vegetables are known to be rich sources of antioxidants such as vitamin C, vitamin E, and beta-carotene. These antioxidants have been shown to have numerous health benefits, such as reducing inflammation, improving cardiovascular health, and protecting against cancer. Consumers are increasingly interested in healthy food options, and many are looking for products that contain natural, plant-based ingredients. As a result, food manufacturers are responding to this demand by incorporating more fruits and vegetables, and their associated antioxidants, into their products.
Another popular growing trend in the food industry is the clean label trend. The naturally derived antioxidants fit well with this trend, as they are seen as more natural and less processed than synthetic antioxidants. Mentioning in labels about the fruits & vegetable extracts is an additional marketing gain for food industries. Thus, these factors potentially drive the market segment in the food antioxidants market.
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The Asia Pacific region accounted for the largest share and fastest growing market, in terms of value, of the global food antioxidants market in 2023.
The Asia Pacific region dominates the food antioxidants market. The region has a large population, which has led to an increase in demand for processed food and beverages. This has in turn fueled the demand for food antioxidants. Secondly, the food processing industry in the Asia Pacific region is diverse and includes various sub-sectors such as meat and poultry processing, dairy processing, bakery and confectionery, and processed fruits and vegetables. Furthermore, the Asia Pacific region is home to many major foods processing companies, including Nestle, Danone, Fonterra, and Tyson Foods, among others. The region also has several local companies that are leaders in their respective markets. Thus, catering for all these food industries in this region have generated a high demand for the food antioxidants and accounted to be the largest share and fastest growing market.
Leading organizations outlined
- Archer Daniels Midland (Us)
- BASF SE (Germany)
- International Flavors & Fragrances Inc. (Us)
- Eastman Chemical Company (Us)
- DSM (The Netherland)
- Camlin Fine Sciences Ltd (India)
- Kemin Industries, Inc. (Us)
- Vitablend Nederland B.V. (The Netherlands)
- Divi’s Laboratories (India)
- Kalsec Inc. (Us)
- BTSA (Spain)
- Nexira (France)
- AOM (Argentina)
- Crystal Quinone Pvt. Ltd (India)
- VDH Chem Tech Pvt. Ltd (India)
