VANCOUVER, British Columbia, Feb. 16, 2021 (GLOBE NEWSWIRE) -- The global food antioxidants market size was USD 2.12 Billion in 2020 and is projected to reach a market size of USD 3.43 Billion at a steady CAGR of 6.2% in 2028, according to latest analysis by Emergen Research. This steady revenue growth can be attributed to rising need to maintain the stability of food ingredients and extend shelf life of food products. Growing consumption of foods that are rich in antioxidants is another key factor expected to drive demand for food antioxidants in the food and beverage industry during the forecast period. Increasing research and development activities related to food antioxidants by research institutes is also boosting growth of the food antioxidants market. High stability and low volatility of food antioxidants helps to maintain the texture, level of nutrients, freshness, color, aroma, and functionality of the food. Growing consumer demand for natural ingredients globally has stimulated the clean-label trend, which has resulted in higher utilization of natural antioxidants as compared to synthetic antioxidants.
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Stringent regulations regarding synthetic antioxidants are projected to restrain growth of food antioxidants market to a certain extent. Additionally, high cost is expected to restrain demand for natural food antioxidants during the forecast period.
Key Highlights of Report
- In August 2019, Koninklijke DSM N.V. announced the launch of its green tea extract, Teavigo, in the U.S. to cater to growing demand for antioxidants in food and beverage products. The product is expected to help in the prevention of various diseases, including cancer, cardiovascular disease, gastrointestinal disorders, dental cavities, and periodontal disease. The product has up to 94% Epigallocatechin Gallate (EGCG).
- Prepared meat & poultry segment accounted for largest market share in 2020. Usage of natural antioxidants to prevent lipid oxidation in meat and meat products is safe, efficient, and promising, which is driving utilization of such food antioxidants in prepared meat and poultry products.
- Natural antioxidants segment revenue is expected to expand at a rapid CAGR during the forecast period. Growing use of natural antioxidants such as green tea, rosemary, oregano, and grape seed extracts to prevent lipid oxidation in poultry meat is expected to continue to support demand for natural antioxidants in the meat and poultry industry during the forecast period.
- Fruits and vegetables segment accounted for a significantly high revenue share in the food antioxidants market in 2020. Increasing prevalence of chronic oxidative stress-related diseases such as cancer and cardiovascular diseases among the growing population has been resulting in increasing consumption of antioxidant-rich fruits and vegetables.
- Asia Pacific accounted for fastest revenue share growth rate in the global food antioxidants market in 2020. Rising consumption of processed food with high antioxidant levels among consumers with high disposable income in countries in the region is expected to drive growth of the Asia Pacific food antioxidants during the forecast period.
- Key players in the market include BASF SE, Archer-Daniels-Midland Company, Koninklijke DSM N.V., DuPont, Eastman Chemical Company, Kemin Industries, Barentz Group, Camlin Fine Sciences Ltd., Kalsec Inc., and BTSA.
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Emergen Research has segmented the global food antioxidants market on the basis of application, type, source, and region:
- Application Outlook (Revenue, USD Billion; 2021–2028)
- Prepared food
- Seafood
- Nutraceuticals
- Fats & Oils
- Plant-based Alternatives
- Prepared Meat & Poultry
- Bakery & Confectionery
- Other Applications
- Type Outlook (Revenue, USD Billion; 2021–2028)
- Synthetic Antioxidants
- Natural Antioxidants
- Source Outlook (Revenue, USD Billion; 2021–2028)
- Oils
- Fruits and Vegetables
- Spices and Herbs
- Gallic Acid
- Botanical Extracts
- Petroleum-derived
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- Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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