Market Overview
Market Research Future (MRFR) reports the Antioxidants Market to touch a USD 9975.06 million valuations by 2027 at a 5.30% CAGR over the assessment period.
Market Dynamics
Antioxidant supplements are expected to rise over the next decade at a brisk rate. Global demand is being fuelled by the vast spectrum of end-use benefits for antioxidants. In addition, the increased demand for convenience foods and the growth of the food industry are contributing to higher antioxidant sales. Thanks to the increasing consumer demand, which is likely to continue into the future and spur the growth of the antioxidant industry, food suppliers are inclined to improve nutritional foods, dietary supplements, and functional foods with antioxidants.
Other factors are driving the antioxidant market, such as consumer appetite for poultry and fast-paced lifestyles, and an increased need for natural antioxidants in food. Research and development activities can play a vital role in enhancing the efficacy of antioxidants, including the production of enhanced antioxidants. In various industries, the overall usage of antioxidants is on the rise, and there is a gain.
Laws governing the growth of the global economy, on the other hand, regulate the reach of the sector.
By temporarily closing down several processing plants, the COVID-19 virus and the government's lockout have harmed the demand for antioxidant supplements. Since the SARS-CoV-2 pandemic, antioxidant demand has reduced and, as a result, players are concentrating on strengthening supply chains and accelerating activities to curb further declines in revenue. The demand for foods and drinks with antioxidants continues to expand with the gradual lifting of the lockout across countries and the current coronavirus under control as consumers become more health-conscious and focus on strengthening their immunity.
Segmental Analysis
The global antioxidants market is segmented based on the type, form and application.
Key types covered in the market study are natural and synthetic. Due to the high demand for BHT and BHA in refined foods, sales of the synthetic category have remained at the top. In the coming years, however, the development of the category of natural form is expected to become more common.
Both dry and liquid include various forms in which oxidants are available. Due to the wide-ranging use of antioxidants in packaged food and beverages, the dry sector has for years been a major global beverage industry.
In personal care, animal feed, food and drink, and many other examples of consumption, specialty oxidants are used. The main contributor to the antioxidant market is the food and beverage industry, with beef, poultry and fish products among the most popular products. Increasing product demand, such as improving taste, fragrance, color and oxidation, was expected to drive demand for the commodity in food and beverage applications.
Regional Analysis
The global antioxidants market is segmented into North America, Europe, Asia Pacific, and the rest of the world.
Asia Pacific is the most profitable in terms of the market for antioxidants, due to the rising prevalence of dietary supplements. Rising the ubiquity of high-quality cosmetics, personal care products and food goods will also benefit the food and beverage antioxidant industry in the country. The region's demand for antioxidants is motivated by increased health consciousness and population growth in developing countries in the Asia-Pacific region, such as India and China.
Large numbers of natural antioxidants are noted, with an increasing number of applications in the cosmetic sector. In building opportunities for the region, the U.S. industry plays a major role. European products are being purchased by consumers looking to change their lifestyles, fueling the rise of the European industry. In the United States, due to the increase in various skin disorders such as wrinkles, age lines, lack of skin elasticity and pliability, dull skin and dark circles, the preference for high-quality premium cosmetic items is very important, which gives a major boost to the market for a range of natural antioxidant supplements.
Competitive Landscape
Market Research Future recognizes Kemin Industries, Inc. (U.S.), BASF SE (Germany), Kalsec Inc. (U.S.), Archer-Daniels-Midland Company (U.S.), Koninklijke DSM N.V. (Netherlands), Eastman Chemical Company (U.S.), Barentz Group (Netherlands), International Flavors Fragrances Inc. (U.S.), DuPont de Nemours, Inc. (U.S.), and Adisseo (France) as the key antioxidants market players. Several vendors embrace a range of tactics to extend their reach, such as alliance, cooperation, and merger. Stakeholders should explore the possible advantages of plant-based antioxidants because they are an innovative way to succeed in the antioxidant market. The growth in healthy lifestyle among customers leads the food industry to concentrate on product developments and releases to entice and attract large customer bases.
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