Food Antioxidants Market

Increased processed food consumption to drive market growth

Antioxidants are gaining popularity in the food and beverage industries and are now regarded as important additives. The growing consumer awareness of the additive's benefits in preventing chronic diseases such as diabetes has resulted in widespread use. The rising demand for and consumption of processed foods containing a high concentration of antioxidant compounds has impacted market growth. Its presence prolongs the food's shelf life by preventing oxidation. The growing working population and people's fast-paced lifestyles have resulted in an increased reliance on processed foods.

According to the 2019 Bureau of Labor Statistics, the working population in the United States increased from 64.4% in 2019 to 64.9% in 2020.

Moreover, functional foods are gaining traction, and consumers are looking for high-protein, nutrient-dense superfoods. These parameters influence manufacturers to develop new products and implement new technologies. For example, in February 2019, Kemin Industries, Inc. developed novel and enhanced naturally derived antioxidant compounds using Power-packed Molecule technology that offers similar levels of food protection as conventional ones but with lower dosage amounts to provide substantial savings in costs. Furthermore, the growing population, higher demand for processed foods, and rapid growth in the pharmaceutical sector will help drive the food antioxidants market CAGR over the forecast period.

Consumer demand for anti-aging products has gradually increased the use of these compounds in a wide range of cosmetic products. These products protect human cells from inflammatory and aging damage, driving the food antioxidants market revenue.

The increasing awareness of health and wellness among consumers drives the Global Food Antioxidants Market Industry. As individuals seek to improve their diets and overall health, the demand for natural antioxidants, such as vitamins C and E, has surged. This trend is particularly evident in regions like North America and Europe, where consumers are more inclined to choose products fortified with antioxidants. The market is projected to reach 1.7 USD Billion in 2024, reflecting a growing preference for healthier food options. This shift towards health-conscious eating habits is likely to propel the industry forward, as manufacturers respond to consumer demands for antioxidant-rich products.

The rise of the functional foods market significantly influences the Global Food Antioxidants Market Industry. Functional foods, which offer health benefits beyond basic nutrition, often incorporate antioxidants to enhance their appeal. This trend is particularly evident in the snack and beverage segments, where products enriched with antioxidants are marketed for their health-promoting properties. As consumers increasingly seek foods that contribute to their well-being, the demand for antioxidant-rich functional foods is expected to grow. The market is projected to expand at a CAGR of 5.09% from 2025 to 2035, indicating a robust future for the integration of antioxidants in functional food products.

The Global Food Antioxidants Market Industry is witnessing a notable shift towards natural ingredients as consumers become increasingly skeptical of synthetic additives. This trend is particularly pronounced in the food and beverage sector, where natural antioxidants derived from sources such as berries, green tea, and herbs are gaining traction. The preference for clean-label products is influencing manufacturers to reformulate their offerings, thereby expanding the market for natural antioxidants. As a result, the industry is expected to experience robust growth, with projections indicating a market value of 2.94 USD Billion by 2035. This inclination towards natural ingredients aligns with broader consumer trends favoring transparency and sustainability.

Regulatory bodies across the globe are increasingly recognizing the benefits of antioxidants in food products, which positively impacts the Global Food Antioxidants Market Industry. Governments are implementing guidelines that encourage the use of natural antioxidants to enhance food safety and shelf life. For instance, the European Food Safety Authority has established regulations that support the incorporation of antioxidants in various food categories. This regulatory backing not only fosters innovation among food manufacturers but also reassures consumers about the safety and efficacy of antioxidant-rich products. Consequently, the industry is poised for growth, driven by favorable regulations that promote the use of antioxidants.

Advancements in food processing technologies are shaping the Global Food Antioxidants Market Industry by enabling the effective incorporation of antioxidants into various food products. Techniques such as microencapsulation and spray drying allow for the preservation of antioxidant properties during processing, enhancing product stability and efficacy. These innovations not only improve the quality of food products but also cater to consumer preferences for longer shelf life and enhanced nutritional value. As food manufacturers adopt these technologies, the market for antioxidants is likely to expand, driven by the demand for high-quality, shelf-stable products that meet consumer expectations.

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific Food Antioxidants market accounted for USD 0.7 billion in 2022 and will likely exhibit a significant CAGR growth over the study period. The high proportion is due to the rising population in countries such as China, India, and Japan. China was the world's largest food producer, with a total output value of USD 1.56 trillion, as reported by the Food & Agriculture Organization (FAO). The country's increasing population is the primary driver of China's food market.

India is Asia's second most populous country, which contributes to rising food consumption. The COVID-19 strike has had a significant impact on Asia Pacific. The region's health crisis has raised awareness about the importance of eating healthy foods. The rising population and increased food consumption will boost the demand for antioxidants in the coming years.

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

Figure 2: FOOD ANTIOXIDANTS MARKET SHARE BY REGION 2022 (%)

Source: Primary Research, Secondary Research, Market Research Future Database, and Analyst Review

The European food antioxidants market has the second-largest market share, owing to increased awareness of the health benefits of antioxidants. In Europe, prepared food consumption has increased due to rapid economic growth and rising disposable income. The increasing reliance on prepared foods is expected to drive up demand for food antioxidants in Europe over the coming years. Further, the German food antioxidants market held the largest market share, and the UK food antioxidants market was the fastest-growing market in the European region.

The North American Food Antioxidants Market is expected to grow at the fastest CAGR from 2022 to 2030. The high share can be attributed to consumer lifestyles in countries such as the United States and Canada. In North America, most people are employed as professionals, which places a heavy reliance on prepared foods. Besides, the difficult COVID-19 situation in the United States has forced the population to eat healthily to immunize their bodies to fight against the virus. Food antioxidants keep food fresh for a long time and keep free radicals from forming in the human body.

This factor will likely drive demand for the North American food antioxidants market in the coming years. Moreover, the Canadian food antioxidants market held the largest market share, and the U.S. food antioxidants market was the fastest-growing market in the North American region.

Major market players have contributed to the growth by improvising and utilizing new, highly advanced technologies for creating antioxidant blends. The food antioxidants industry is highly fragmented due to large regional and domestic players in various countries.

The food antioxidants market major players, such as BASF SE, Cargill Inc, Frutarom Ltd, Kemin Industries Inc, and others, are increasingly pursuing merger and acquisition strategies to diversify their product portfolios and expand operations in new geographies. Mergers and acquisitions provide opportunities for growth in the food antioxidants industry by expanding geographically and product portfolios. With substantial market developments like introducing novel products, binding contracts, mergers & acquisitions, increased R&D investments, and collaborative projects with other organizations, market participants are also undertaking various strategic initiatives to expand their footprint.

Cosphatec GmbH company stabilizes modern and natural cosmetics using only skin-friendly raw materials. Since its inception in 2005, the company has concentrated on alternative preservatives for natural cosmetics. Cosphatec GmbH introduced Cosphaderm Tapmix, a cutting-edge, environmentally friendly antioxidant blend, in April 2021. This new natural food antioxidants blend has distinct properties for maximum product protection and ease of use.

Also, Kemin Industries, a leading ingredient manufacturer, paid an undisclosed sum in April 2021 to acquire Proteus Industries Inc. Kemin expects to broaden its portfolio with this acquisition, which includes clean-label phosphate alternatives, meat block replacements, and fat block solutions, as well as Proteus' technology and human resources. Proteus Industries, a producer of food ingredients, create clean-label protein ingredients.