Food Antioxidants Market to Witness Revolutionary Growth

Food antioxidants are substances that can prevent or slow the oxidative damage to food products caused by free radicals. Oxidation reactions can lead to deterioration in the quality and nutritional value of food, and antioxidants play a crucial role in preventing or delaying these reactions. The food antioxidants market is estimated at USD 1.6 billion in 2023 and is projected to reach USD 2.2 billion by 2028, at a CAGR of 6.2% from 2023 to 2028.

Food Antioxidants Market Trends

Demand for Natural Antioxidants:

• Consumers were increasingly inclined towards natural and clean label products. This trend led to a growing demand for food antioxidants sourced from natural origins, such as fruits, vegetables, and herbs.

Clean Label Movement:

• The clean label movement was gaining momentum, with consumers seeking transparency in food ingredients. Manufacturers were responding by incorporating natural antioxidants and avoiding synthetic alternatives.

Functional Foods and Nutraceuticals:

• The convergence of food and health led to the incorporation of antioxidants in functional foods and nutraceuticals. Products fortified with antioxidants were marketed for their potential health benefits.

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Research and Development:

• Continuous research efforts were underway to discover new and more effective antioxidants. Companies were investing in developing innovative solutions to enhance the oxidative stability of various food products.

Global Market Growth:

• The Food Antioxidants Market was experiencing growth globally, driven by factors such as the increasing awareness of health and wellness, changing dietary habits, and the need for extended shelf life in food products.

Regulatory Compliance:

• Compliance with regulatory standards and guidelines regarding the use of antioxidants in food products remained a crucial aspect of the industry. Companies were adapting to and aligning with regulatory requirements.

Technological Advancements:

• Advancements in food processing and preservation technologies were influencing the incorporation of antioxidants. Techniques to improve the efficiency and stability of antioxidants in food applications were being explored.

Emerging Markets:

• Emerging markets were becoming significant players in the food antioxidants sector. Increased disposable income, urbanization, and changing lifestyles in developing regions contributed to the growth of the market.

Market Drivers: Growth in the prepared food industries is likey to propel the market

Prepared foods are processed foods that are treated to ensure longer shelf life, reduce rancidity, and be easy to use. The prepared food industry is expected to witness substantial growth in the coming years due to factors such as high disposable income and a gradual increase in the number of working women, thereby positively impacting the food antioxidants market.

The rise in disposable incomes due to economic growth, especially in emerging countries such as India and China, has led to demand for convenience foods. As per a study published in the American Journal of Clinical Nutrition, ultra-processed food consumption grew from 53.5 percent of calories (2001–2002) to 57 percent at the end of (2017–2018) in the US. The rise in convenience and processed food consumption is attributed to its ease of use, variety, and all-season availability. Convenience and processed foods are consumed over an extended time, as they are pre-packaged and added with preservatives to prevent spoilage. Processed food is also convenient for transportation to distant places. Thus, it is crucial to maintain the quality, flavor, taste, and nutrient profile. The longevity of processed food is a major driver for the food antioxidants market.

The prepared meat & poultry sub-segment for the applications segment is estimated to grow at the highest in the food antioxidants market.

According to the data released by Organization for Economic Co-operation and Development, the world poultry consumption in 2022 was 133,696 thousand tons and is expected to be 144,874 thousand tones by 2029. This is due to an increase in population and growth in economic development. As countries become more economically developed, their populations tend to consume more meat and poultry. This is because people have more disposable income to spend on food, and meat is often seen as a status symbol or a sign of wealth. These developments and growth will increase the amount of meat & poultry consumption per capita. The meat & poultry industry uses antioxidants to prevent the oxidation of fats in meat products, which can lead to spoilage and rancidity. Thus, the demand for antioxidants potentially is estimated to grow at the highest in the food antioxidants market.

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The Asia Pacific region accounted for the largest share and fastest growing market, in terms of value, of the global food antioxidants market in 2023.

The Asia Pacific region dominates the food antioxidants market. The region has a large population, which has led to an increase in demand for processed food and beverages. This has in turn fueled the demand for food antioxidants. Secondly, the food processing industry in the Asia Pacific region is diverse and includes various sub-sectors such as meat and poultry processing, dairy processing, bakery and confectionery, and processed fruits and vegetables. Furthermore, the Asia Pacific region is home to many major foods processing companies, including Nestle, Danone, Fonterra, and Tyson Foods, among others. The region also has several local companies that are leaders in their respective markets. Thus, catering for all these food industries in this region have generated a high demand for the food antioxidants and accounted to be the largest share and fastest growing market.

Major players profiled

Archer Daniels Midland (US), BASF SE (Germany), International Flavors & Fragrances Inc. (US), Eastman Chemical Company (US) and DSM (The Netherlands).

Key Questions addressed by global food antioxidants market report:

How big is the food antioxidants market?What is the market for food antioxidants?

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Which region is projected to account for the largest share in the food antioxidants market?