Antioxidants Market Size is valued at USD 2.06 billion in 2022 and is predicted to reach USD 4.21 billion by the year 2031 at a 8.37% CAGR during the forecast period for 2023-2031.
Antioxidants are substances that help protect the body against oxidative damage caused by free radicals. They are commonly found in various foods, supplements, and personal care products. The market for antioxidants is driven by the growing awareness of their health benefits, the aging population, and increasing interest in functional and healthy foods. Growing numbers of consumers are actively searching for products that provide health advantages, with antioxidants being seen as advantageous in preventing chronic diseases, which is driving the expansion.
Moreover, there is a rising consumer interest in functional foods and beverages fortified with antioxidants. These items are promoted for their health benefits that extend beyond essential nutrition, contributing to accelerated growth. The cost of incorporating antioxidants into products could restrain manufacturers, especially in price-sensitive markets. Additionally, the market offers several notable opportunities, including increased interest in natural antioxidants, growth in emerging markets, the creation of innovative antioxidant products, collaborative partnerships, and expansion within the pharmaceutical industry.
Competitive Landscape
Antioxidants market key players are:
- Aland (Jiangsu) Nutraceutical Co. Ltd.
- Archer Daniels Midland Company
- Balfour Beatty PL
- Barentz International BV
- BASF SE
- Bayer Material Science A
- Bio-Kleen Products, Inc
- Biosciences
- Calera Corporation
- Camlin Fine Sciences Ltd.
- Cargill Incorporated
- I. du Pont de Nemours and Company
- Eastman Chemical Company
- Givaudan
- Huber Engineered Woods LLC
- ICC Industries Inc.
- Kalsec Inc.
- Kemin Industries Inc.
- Kingspan Group
- Koninklijke DSM N.V.
- Naturex S.A.
- Nutreco N.V.
- Thermafiber, Inc
Market Segmentation:
The antioxidants market is segmented based on product and application. The product segment includes natural and synthetic antioxidants. Application product segment food products, beverages, pet food/animal food and cosmetic & personal care products.
Based On The Product, The Synthetic Segment Is A Major Contributor To The Antioxidants Market.
The synthetic antioxidant category will hold a major share of the global antioxidants market in 2022. To produce a variety of food products, butylated hydroxytoluene (BHT), butylated hydroxyanisole (BHA), tert-butylhydroquinone (TBHQ), and propyl gallate (PG) are widely used. Synthetic antioxidants are made by a traditional industrial process using various ingredients. As a result, its use as an addition is subject to some rigorous regulations from the governments of several nations. Synthetic antioxidants are often used to prolong the shelf life of food goods and improve their texture, color, and scent.
The Food Segment Noticed Growth At A Rapid Rate.
The food segment is projected to proliferate in the global antioxidants market. The antioxidants in fruits, vegetables, and other plants help treat various health conditions, including cardiovascular disorders. The industry is also expanding due to the increasing use of antioxidants in animal feed. Due to changing consumer preferences and behaviours, the bakery and confectionery industry is undergoing fast innovation. In addition, the custom of giving candy, baked goods, and other confectionery items, particularly at festivals, contributes to expanding the bakery and confectionery business.
The Asia Pacific Antioxidants Market Holds A Significant Revenue Share In The Region.
The Asia Pacific antioxidants market is expected to record the most elevated market share in revenue shortly. The antioxidant market is expanding in emerging economies, particularly in Asia, where rising incomes and urbanization are leading to changing consumer preferences and a growing interest in health and wellness products. Growing health consciousness among consumers in Asia Pacific was driving demand for products with health-enhancing properties. Antioxidants gained popularity owing to their ability to resist oxidative stress and lower the risk of chronic illnesses.
In addition, North American is projected to grow rapidly in the global antioxidants market. North American consumers were strongly interested in functional foods and beverages fortified with antioxidants. This trend extended to a wide range of products, including energy drinks, fortified water, and snacks. The aging demographic in North America was a significant driver. With an enormous proportion of the population entering older age groups, there was an increased focus on products that promote longevity and address age-related health concerns.
Antioxidants Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 2.06 Bn |
|
Revenue Forecast In 2031 |
USD 4.21 Bn |
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Growth Rate CAGR |
CAGR of 8.37% from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Product, Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ; France; Italy; Spain; South Korea; South East |
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Competitive Landscape |
BASF SE, Cargill Incorporated, Kalsec Inc., Koninklijke DSM N.V., Nutreo N.V., Vitablend Nederland B.V., Archer-Daniels-Midland Company, Archer-Daniels-Midland Company |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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