Antioxidants Market Analysis

Global Antioxidants Market Overview

Antioxidants Market Size was valued at USD 6.5 billion in 2022. The Antioxidants industry is projected to grow from USD 6.84 Billion in 2023 to USD 9.33 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.30% during the forecast period (2023 - 2030). Rising frequency of Antioxidants industry growth, such as increasing population, rising demand for processed foods, and rapid growth of pharmaceutical sectors are the key market drivers enhancing the market growth

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Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Antioxidants Market Trends

• Use of antioxidants in the food industry to boost market growth

One of the key factors driving the antioxidant market is the usage of antioxidants in the food industry. Since it shortens food products' shelf lives, abstract oxidation is a widespread issue in the food sector. To solve this issue, food producers are now using antioxidants to increase color stability and stabilize free radicals. Antioxidants are therefore becoming more popular in the food and beverage sector. Also, according to an analysis of the antioxidant market, there is a growing demand for processed meals that contain antioxidant components. The working population climbed from 64.4% in 2018 to 64.9% in 2019, according to the United States Department of Labor Statistics, which raised the demand for processed foods.

Moreover, functional foods are becoming increasingly popular; people demand nutritionally rich, high-protein foods. It has encouraged manufacturers to produce new food products with antioxidant. Therefore, rising frequency of Antioxidants industry growth, such as increasing population, rising demand for processed foods, and rapid growth of pharmaceutical sectors are the key market drivers enhanced the Antioxidants market CAGR across the globe in the recent years. That drives the growth of the Antioxidants market revenue.

Antioxidants Market Segment Insights

Antioxidants Type Insights

The Antioxidants Market segmentation, based on Type, the antioxidant market is segmented into natural and synthetic. Due to growing concerns over the usage of synthetic chemicals in the food business, the natural segment is anticipated to hold the most significant market share in the antioxidant industry. Because of its widespread availability and low prices, the synthetic segment, also employed in various industries, is anticipated to expand more quickly throughout the projection period. The Antioxidants segment held the majority share in 2022 contribution in respect to the Antioxidants Market revenue. This is primarily owing to the rising prevalence of Antioxidants industry growth, such as increasing population, rising demand for processed foods, and rapid growth of pharmaceutical sectors are enhancing the market growth.

December 2020: Olam Coffee introduced a brand-new kind of coffee product for a variety of uses.

February 2021: A new antioxidant serum for oily skin was introduced by the cosmetics company SkinCeuticals, which is situated in Texas. It will assist the business in solidifying its position as a leading antioxidant-based skincare brand.

Figure 1 Antioxidants Market, By Type, 2022 & 2030(USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Antioxidants By Form Insights

The global Antioxidant smarket data has been based on form the dry-form sector dominated the industry with a sales share of more than 72% in 2021. This significant portion can be attributed to the rising use of powder-based antioxidants in food products. Powders of a technical grade are widely used in many food products. The powder lessens the adverse effects of free radicals and can significantly lessen the harm they can do. Most food antioxidants are powder, tablet, flakes, and granular. Because dry antioxidants are so simple to use, store, and travel, customers highly favor them. Throughout the upcoming years, a growing prepared food sector is anticipated to fuel demand for dry antioxidants around the globe.

Moreover, liquid antioxidants are employed in various dietary products, including fats and oils, mayonnaise, and more. However, liquid antioxidants are complicated to transport, store, and use. In addition, liquid antioxidants are not easily mixed with all food products. Thus, the market is expected to witness a limited demand for liquid antioxidants over the future years.

April 2021: A new, sustainable antioxidant combination called Cosphaderm Tapmix will be introduced by Cosphatec GmbH. This brand-new item is a natural antioxidant combination with unique properties for the best product protection and ease of use This product has further broadened the growth opportunity for the Antioxidantsindustry.

June 2018: DuPont Nutrition and Health developed a novel antioxidant component for cereal and granola products. Guardian Toco 30P antioxidant from DuPont is made from organically derived tocopherols and is available in powder form.Antioxidants By Application Insights

Based on Application, the global Antioxidants industry has been segmented into food & beverage, pharmaceutical, cosmetic, and feed additives. The food and beverage segment is expected to hold the highest global market share because this industry uses antioxidants as preservatives. The pharmaceutical and feed additives will also rise at a rapid pace due to the increasing population.

In 2022, the market was dominated by the Meat & Poultry application, which had a revenue share of over 32%. The global increase in meat consumption and related food products fuels the expansion. Humans need a variety of protein sources in their diets, and meat and poultry are regarded as excellent sources. Human bodies receive a necessary amount of protein from meat and poultry products. Red meat, such as pork, lamb, and beef, most frequently makes up the meat portion. The main factor driving the expansion of the poultry industry is anticipated to be the increased popularity of poultry meat due to its low cost. Moreover, packed meat and poultry items are offered for sale and can be kept for a long time.

Antioxidants Regional Insights

By Region, the study provides the market insights into Asia Pacific, Europe, North America and Rest of the World. Europe Antioxidants market accounted for USD 3.0 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the growing incidence of Antioxidants industry growth, such as increasing population, rising demand for processed foods, and rapid growth of pharmaceutical sectors are the key market drivers enhancing the market growth, as well as an ageing population across the region.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: ANTIOXIDANTS MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

North-America Antioxidants market accounts for the second-largest market share due to the Food antioxidants preserve the food for a long time and prevent the formation of free radicals in human body. This factor is likely to fuel the demand for food antioxidants in North America.

The Asia-Pacific Antioxidants Market is expected to grow at the fastest CAGR from 2022 to 2030.  The major factor driving the food market in China is the growing population of the country. India is the second most populous country in Asia, which also contributes to the increasing consumption of food. Moreover, China Antioxidants market held the largest market share, and the India Antioxidants market was the fastest growing market in the Asia-Pacific region.

Antioxidants Key Market Players& Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Antioxidants market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Antioxidantsindustry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the global Antioxidantsindustry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, Antioxidantsindustry has provided medicine with some of the most significant benefits. The Antioxidants market major player such as Kemin Industries Inc. (US), BASF SE (Germany), Kalsec Inc. (US), Archer-Daniels-Midland Company (US), Koninklijke DSM N.V. (Netherlands), Eastman Chemical Company (US), Barentz Group (Netherlands), International Flavors & Fragrances Inc. (US), DuPont de Nemours Inc. (US) and Adisseo (France), and others are working to expand the market demand by investing in research and development activities.

Kemin Industries is a global ingredient manufacturer that strives to sustainably transform the quality of life every day for 80 percent of the world with its products and services. The company supplies over 500 specialty ingredients for human health, food safety and protection of the global food supply chain. Kemin ingredients offer solutions across various industries including animal health, nutraceuticals, pet food, food technologies, crop technologies, textiles, aquaculture and animal vaccines.

Kemin Industries, inc., using power-packed Molecule technology, developed new and improved naturally derived antioxidant compounds that offer similar levels of food protection as the conventional ones but with reduced dosage amounts to provide significant cost savings.

Cosphatec is the partner for the stabilisation of modern and natural cosmetics using only sustainable and skin-friendly raw materials. A new, sustainable antioxidant combination called Cosphaderm Tapmix will be introduced by Cosphatec GmbH. This brand-new item is a natural antioxidants combination with unique properties for the best product protection and ease of use. This product has further broadened the growth opportunity for the Antioxidants industry.

Key Companies in the Antioxidants market includes

• Kemin Industries Inc. (US)


• BASF SE (Germany)


• Kalsec Inc. (US)


• Archer-Daniels-Midland Company (US)


• Koninklijke DSM N.V. (Netherlands)


• Eastman Chemical Company (US)


• Barentz Group (Netherlands)


• International Flavors & Fragrances Inc. (US)


• DuPont de Nemours Inc. (US)


• Adisseo (France)

Antioxidants Industry Developments

February 2021: A new antioxidant serum for oily skin was introduced by the cosmetics company SkinCeuticals, which is situated in Texas. It will assist the business in solidifying its position as a leading antioxidant-based skincare brand.

June 2018: DuPont Nutrition and Health developed a novel antioxidant component for cereal and granola products. Guardian Toco 30P antioxidant from DuPont is made from organically derived tocopherols and is available in powder form.

Antioxidants Market Segmentation

Antioxidants By Type Outlook

• Synthetic


• Natural

Antioxidants By Form Outlook

• Dry


• Liquid

Antioxidants By Application Outlook

• Food & Beverages


• Animal Feed


• Personal Care


• Others

Antioxidants Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• 
  

  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  

  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  

  Rest of the World

  
  
  
  
  • 
    

    Middle East

    
    
  
  
  • 
    

    Africa

    
    
  
  
  • 
    

    Latin America