According to the latest report from Reports and Data, the size of the global for food antioxidants market was USD 1.37 Billion in 2021. It is projected to experience a compound annual growth rate (CAGR) of 6.1% during the forecast period.
The increasing demand for processed foods due to changing lifestyles and the growing awareness of protein-rich diets are key factors contributing to the revenue growth in the food antioxidants market. Food antioxidants are dietary supplements that aid in preventing various ailments such as heart disease, cancer, cataracts, and memory loss. They can be found in a wide range of processed foods including breakfast cereals, energy drinks, sports bars, and other processed food products, which is a major driver for the market's revenue growth. In the food industry, antioxidants are commonly used to extend the shelf life of food products. Natural antioxidants, which are abundant in foods and medicinal plants, are utilized to prolong the shelf life of bakery goods, snacks, and other packaged foods.
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Major Companies:
ADM, DuPont, Cargill, Incorporated, DSM, Camlin Fine Sciences Ltd, Kemin Industries, Inc., Kalsec Inc., BTSA, VDH Chem Tech Pvt. Ltd., and Foodchem International Corporation.
Major Driving Factors and Restraints of Food Antioxidants Market
Driving Factors:
- Changing Lifestyles: As lifestyles change, there is an increasing demand for convenient and processed foods. Busy schedules and a preference for ready-to-eat meals have led to a rise in the consumption of processed foods, which often contain food antioxidants to enhance their shelf life.
- Growing Awareness of Health Benefits: Consumers are becoming more aware of the health benefits associated with antioxidants. Antioxidants help in preventing various diseases such as heart disease, cancer, and age-related macular degeneration. This increased awareness has led to a higher demand for food products fortified with antioxidants.
- Increasing Focus on Natural and Clean Label Products: Consumers are increasingly seeking natural and clean label products, which has resulted in a shift towards the use of natural antioxidants in food products. Natural antioxidants derived from plant sources are preferred over synthetic alternatives, driving the demand for natural food antioxidants.
Restraints:
- Stringent Regulatory Standards: The food industry is subject to stringent regulations and standards governing the use of additives, including antioxidants. Compliance with these regulations can be complex and costly, requiring manufacturers to invest in research, testing, and documentation to ensure regulatory compliance.
- Availability and Sourcing of Natural Antioxidants: The demand for natural antioxidants has been increasing due to consumer preference for clean label products. However, the availability and sourcing of natural antioxidants can be a challenge. Limited availability, seasonal variations, and sourcing complexities can result in higher costs and supply chain disruptions.
- Cost Considerations: The cost of incorporating antioxidants into food products can be relatively high, especially when using natural antioxidants. This can impact the affordability and profitability of food products, especially in price-sensitive markets.
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The global Food Antioxidants market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Source Outlook (Revenue, USD Billion; 2019-2030)
- Fruits Vegetables
- Gallic Acid
- Petroleum
- Spices Herbs
- Oils
- Nuts Seed
Type Outlook (Revenue, USD Billion; 2019-2030)
- Natural Antioxidants
- Synthetic Antioxidants
Application Outlook (Revenue, USD Billion; 2019-2030)
- Fats Oils
- Snacks Dairy
- Seafood
- Meat Products
- Beverages
- Bakery Confectionery
Form Outlook (Revenue, USD Billion; 2019-2030)
- Dry
- Liquid
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