Pune, India, July 14, 2021 (GLOBE NEWSWIRE) -- The global antioxidants market is set to gain impetus from the high demand for anti-aging products from consumers. Hence, several cosmetics manufacturers are using the additive in their in-house products. In April 2021, for instance, Cosphatec GmbH launched Cosphaderm Tapmix, a sustainable and unique antioxidant blend. It was developed by keeping in mind natural cosmetics standards. It can protect the membrane lipids and prevent oxidation. This information is given by Fortune Business Insights™ in a report, titled, “Antioxidants Market Size, Share & COVID-19 Impact Analysis, By Type (Natural and Synthetic), By Application (Food & Feed Additive, Pharmaceutical & Personal Care Products, Fuel & Lubricant Additives, Plastic, Rubber, & Latex Additives, and Others), and Regional Forecast, 2021 – 2028.”
As per the report, the market size was USD 3.92 billion in 2020. It is expected to grow from USD 4.13 billion in 2021 to USD 6.05 billion in 2028 at a CAGR of 5.61% in the forecast period.
COVID-19 Pandemic: Disruptions in Import & Export Activities in China to Hamper Growth
The COVID-19 pandemic has taken a toll on various end-use industries, as well as the global economy. The food and beverage industry has been going through highs and lows owing to social distancing and lockdown norms implemented by government bodies worldwide. This is resulting in the shutdown of manufacturing facilities. China is considered to be significant ingredients and additives manufacturing country, but, being the epicenter of the pandemic, import and export activities were disrupted.
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Report Coverage-
We follow a unique research methodology that contains data triangulation based on bottom-up and top-down approaches. We conduct primary research to validate the upcoming market numbers. The information utilized to project the forecast for numerous segments is collected by conducting interviews with leading stakeholders. The report of this industry includes minute details, such as opportunities, drivers, challenges, and dynamics of the market.
Drivers & Restraints-
High Demand for Protein-rich Functional Foods to Augment Growth
The rising awareness among people regarding the benefits of antioxidants for preventing chronic ailments, such as diabetes would aid growth. Also, consumption and demand for processed foods is surging nowadays because of the fast-paced lifestyle of people and the rising working population. These additives can extend the shelf life and prevent oxidation of such food items.
The United States Bureau of Labor Statistics, for instance, declared that the U.S. experienced a surge of 64.9% of the working population in 2019 from 64.4% in 2018. These factors are set to propel the antioxidants market growth in the upcoming years. At the same time, protein-rich functional foods are also showcasing high demand. However, the contents of food additives and preservatives are strictly monitored by governments to prevent allergic reactions and digestive disorders. It may obstruct demand.
Regional Insights-
Increasing Population and High Demand for Fuel to Help Asia Pacific Grow
Regionally, in 2020, Asia Pacific procured USD 1.71 billion in terms of revenue. It is considered to be one of the largest consumers of fuel. The high demand for fuel from numerous end-use industries and rising population would aid growth. BP International Limited, for instance, stated that in 2018, the total oil consumption of the region was 1,651.3 million tons. On the other hand, North America is anticipated to show considerable growth on account of the expansion of the aerospace and defense sector, as well as the well-established food industry.
Competitive Landscape-
Key Players Focus on Developing Innovative Products to Compete with Their Rivals
The global market houses a large number of local and international companies that are presently striving to gain a competitive edge. To do so, they are constantly launching new products to cater to the high consumer demand.
Segments-
Synthetic Segment to Remain at Forefront Backed by Usage in Food and Feed Industries
By type, the market is bifurcated into natural and synthetic. Amongst these, the synthetic segment generated the largest antioxidants market share in 2020. This growth is attributable to its affordability and wide availability. Besides, it is majorly used in fuel, feed, and food industries.
Fortune Business Insights™ lists out a few of the renowned companies present in the antioxidants market. They are as follows:
- BASF SE (Ludwigshafen, Germany)
- ICC Industries Inc. (United States)
- Kemin Industries Inc. (Iowa, United States)
- Archer Daniels Midland Company (Illinois, United States)
- Barentz International BV (Hoofddorp, Netherlands)
- Kalsec, Inc. (Michigan, United States)
- Eastman Chemical Company (Tennessee, United States)
- Camlin Fine Sciences Ltd. (Maharashtra, India)
- Koninklijke DSM N.V. (Heerlen, Netherlands)
- Givaudan (Vernier, Switzerland)
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Below are the two vital industry developments:
- March 2021: Rodan + Fields received a patent from the US Patent and Trademark Office for a state-of-the-art synergistic antioxidant complex. It can be used in skin products and help the skin to be tough for preventing future damages caused by exposure to sunlight and other environmental factors.
- May 2019: SI Group introduced ETHANOX® 4737R, its latest fuel antioxidant blend that can be used under versatile weather conditions, facilitate batch and injection blending, and provide low-temperature fluidity.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Analysis on Parent/Related Market
- Supply Chain & Regulatory Analysis
- Recent Industry Developments: Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities Due to COVID-19
- Global Antioxidants Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Natural
- Synthetic
- By Application (Value)
- Food & Feed Additives
- Pharmaceutical & Personal Care Products
- Fuel & Lubricant Additives
- Plastic, Rubber, & Latex Additives
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
TOC Continued…!
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