Food Antioxidants Market

Global Food Antioxidants Market Size (2024 to 2029)

The global food antioxidants market size is expected to be worth USD 4.61 Billion in 2024 and grow at a CAGR of 5.61% during the forecast period and reach a value of USD 6.06 Billion by 2029.

Antioxidants are substances that extend the shelf life of food by preventing oxidation, thereby avoiding spoilage of food. In addition to food, antioxidants are used in cosmetics and feed additives to reduce wastage. Antioxidants prevent the rancidity of fats and the change of color in food.  Specifically, it removes oxidants that can spoil stored food or potentially damage it in living organisms. The most common fruits, vegetables, and herbs in antioxidant-rich diets include lutein, vitamin E, flavonoids, beta-carotene, vitamin C, and lycopene.

Global Food Antioxidants Market Drivers:

The global market for food antioxidants is expected to experience significant demand due to the consumption of processed foods among a growing population. Additionally, increasing consumer awareness of healthier alternatives is further driving the global market growth. Food antioxidants benefit health in several ways, including prostate health, heart health, eye health, and urinary tract health. Increasing the intake of antioxidants in your diet can help protect your body from memory problems, immune system problems, and mood disorders. Also, as food products have a longer shelf life and higher purchasing power, there has been a growing demand for dietary antioxidants around the world.

The growing consumption of processed foods such as meat, snacks, and beverages among the growing middle-class population of developing countries presents promising opportunities for market growth. Factors such as growing demand for poultry, changing consumer preferences due to rapidly changing lifestyles, and increasing demand for natural antioxidants in foods are driving the market for food antioxidants. The prepared food industry is expected to show significant growth in the coming years due to factors such as high disposable income and the gradual increase in female workers, which is supposed to have a positive impact on the global food antioxidants market. Urbanization and changing lifestyles are making consumers to preference for nutritious food. Consumers are becoming more conscious about the foods they consume, including the ingredients used.

The global food antioxidants market is estimated to experience strong growth in the near future. Despite the knowledge related to dietary antioxidants, developing nations like China and India are witnessing increasing adoption. As these emerging economies grow and achieve high disposable incomes, the demand for dietary antioxidants is also increasing. The APAC region is increasing demand for cooked and functional foods and beverages, which is likely to drive the food antioxidant market in the region. The demand for these antioxidants is estimated to grow at a modest rate in early adopters such as Japan and Germany and exponentially in emerging markets such as Malaysia, Thailand, and other Asian countries. Water scarcity, especially in Africa and North Asia, is putting pressure on the food supply. The need to market food preservatives to smaller food and beverage manufacturers will expand the market. The industry growth is due to the increase in demand and consumption of processed foods with high use of food antioxidants and the improvement of the shelf life of products such as bakery, confectionery, and snacks. The presence of antioxidants effectively inhibits oxidation and prolongs the shelf life of food products. Besides, research and development in this field and surveys conducted by research institutions have fueled its growth. The growing world population is putting enormous pressure on producers to manufacture, extract, and maintain scarce resources. However, active consumer behavior towards a healthy lifestyle and preference for natural products presents enormous opportunities for industry participants in the global food antioxidants market.

Global Food Antioxidants Market Restraints:

Natural food antioxidants, such as mixed tocopherols and vitamin C, are priced higher due to higher raw material prices compared to synthetic products such as petroleum derived BHT, BHA, and TBHQ. However, since the safety of synthetic dietary antioxidants is a major concern, their use is regulated in most countries. The uncertainty about the safety of synthetic antioxidants has led to extensive research on natural sources of dietary antioxidants. Natural antioxidants allow food manufacturers to produce stable products with a 'clean' label of all-natural ingredients. The high cost of natural dietary antioxidants, the safety concerns, and the growing threat of synthetic antioxidants as substitutes are major market limitations.

Impact of COVID-19 on the Food Antioxidants Market:

The impact of coronavirus on the consumption of balanced foods has affected the consumption of meat and livestock products and their by-products such as milk and eggs. This is mainly due to a lack of food because of the closure of many facilities in the major countries. Despite the challenges posed by the coronavirus, the safety and quality of the global food supply remains strong, according to the International Food Additives Council (IFAC), and food antioxidants continue to play an important role in maintaining the quality of food. Food antioxidants keep food stable in storage, extend product shelf life, and allow consumers to store food without fear of immediate expiration. During these difficult times of this pandemic, consumers often minimize the time in stores and supermarkets, but storing food and food packaging with food additives is a viable solution.

REPORT COVERAGE:

This research report on the global food antioxidants market has been segmented and sub-segmented based on source, application, type, form & region.

Global Food Antioxidants Market - By Source:

• Oils
• Fruits & Vegetables
• Spices & Herbs
• Botanical Extracts
• Gallic Acid
• Petroleum

The synthetic segment held the largest share of the food antioxidants market. It is primarily used in the food industry to delay lipid oxidation to stabilize and preserve refined fats and oils within food products.

Global Food Antioxidants Market – By Application:

• Fats & Oils
• Bakery & Confectionery
• Prepared Meat & Poultry
• Others

The meat and poultry segment, by application, has the highest market share with a notable growth rate in the global food antioxidants market. The use of antioxidants can extend the shelf life of meat and poultry products. Prepared meat and poultry products that consist of fats together with unsaturated fatty acids break down by oxidation during storage.

Global Food Antioxidants Market – By Type:

• Natural
• Synthetic

According to synthetic sources, the Gallic acid segment is expected to show the highest CAGR during the conjecture period. Gallic acid contains PG, oils, and fats that help prevent oxidation. It is used primarily as a synthetic food antioxidant in processed foods.

Global Food Antioxidants Market – By Form:

• Dry
• Wet

The drying sector accounted for the largest share in 2019. Most synthetic food antioxidants are in dry form, including fine granules, fine powders, flakes, and tablets. The drying sector accounted for 66.0% of the market share in 2019.

Global Food Antioxidants Market - By Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

 The Asia Pacific region dominated the global food antioxidants market in 2019, as health awareness has increased and demand for anti-aging products has augmented. The highest growth of antioxidants in the European market has been contributed by Germany, the United Kingdom, and Italy. Rising income and product usage population show the future growth potential of the food antioxidants market. Asia Pacific, North America, and Europe show growth trends in the use of natural antioxidants due to active health awareness of nutritional and cosmetic products derived from natural sources.

KEY MARKET PLAYERS:

Archer Daniels Midland Company, EI Du Pont De Nemours and Company, Kalsec Inc, BTSA BIOTECNOLOGÍAS APLICADAS SL, Koninklijke DSM NV, Eastman Chemical Company, Kemin Industries, Inc, Astrra Chemicals, Brenntag North America, Inc, CFS North America, VDH Chem Tech Pvt. Ltd and Barentz Group are some of the notable players in the global food antioxidants market.

RECENT HAPPENINGS IN THE MARKET:

• In October 2020, Barentz announced the acquisition of Maroon Group, one of the leading distributors of specialty chemicals (CASE and HI&I) and life science ingredients in North America.
• In October 2019, Nagase acquired Prinova (USA) to expand its product portfolio, including premium nutritional ingredients. This will not only expand our product portfolio but also increase Nagase's customer base.