USD 4.41 Billion
Antioxidants Market Size, Share, Growth Analysis, By Type(Synthetic and Natural), By Form(Dry and Liquid), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2245 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
59
|Figures:
75
Antioxidants Market Insights
Global Antioxidants Market size was valued at USD 4.41 Billion in 2022 and is poised to grow from USD 4.66 Billion in 2023 to USD 7.21 Billion by 2031, at a CAGR of 5.62% during the forecast period (2024-2031).
Consumer demand for anti-aging treatments is on the rise, which has progressively led to a growth in the use of these compounds in many cosmetic items. These goods shield human cells from inflammation and ageing harm. They are added to a variety of personal care products, including creams, conditioners, shampoos, body lotions, and others, to stop them from spoiling and from going rancid when exposed to oxygen. Vitamin A, vitamin C, butylated hydroxy anisole (BHA), and other antioxidant substances are frequently used in cosmetics. The natural cosmetics market in Europe was valued at USD 4.16 billion, according to the Ministry of Foreign Affairs, and it is expanding at an average rate of 7% each year. The market is expanding as a result of rising consumer demand in Asia and the Middle East for cosmetics that are fortified with nutrients and minerals. In addition to this, it is a crucial component of many pharmacological and cosmetic goods. Also contributing to the market's growth throughout the forecast period (2021-2028) will be the world's growing population, the increasing demand for processed foods, and the pharma industry's explosive rise.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Dry
Fastest Growth
Dry
Growth Rate
5.62% CAGR
Global Antioxidants Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Antioxidants Market Segmental Analysis
Global Antioxidants Market is segmented on the basis of type, form, application and region. By type, the market is segmented into synthetic and natural. By form, the market is segmented into dry and liquid. By application, the market is segmented into meat & poultry, bakery & confectionery, fats & oil, fish, pet food. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Antioxidants Market Analysis by Type
With a revenue share of over 55% in 2022, the synthetic type category dominated the market. The increase can be attributed to the increasing use of Tert-butylhydroquinone (TBHQ), Butylated Hydroxytoluene (BHT), Butylated Hydroxy anisole (BHA), and Propyl Gallate (PG) in the manufacture of a variety of food goods. A standard industrial technique is used to create synthetic antioxidants, which are a combination of many different compounds. As a result, its use as an addition is subject to a number of severe regulations from the governments of various nations. Artificial antioxidants are frequently used to extend the shelf life of food goods and improve their texture, color, and scent.
Natural antioxidants come from organic sources including plants, animals, fruits, herbs, and spices and do not result from conventional chemical reactions. Natural antioxidants include alpha-tocopherol, vitamin C, vitamin E, ascorbic acid, carotenoids, and rosemary extracts, among others. Consumption of naturally derived antioxidants has increased due to a growing desire to lead a healthy lifestyle. Over the upcoming years, the demand for natural antioxidants is anticipated to increase due to growing awareness of health issues and the negative impacts of chemicals.
Antioxidants Market Analysis by Form
With a global revenue share of more than 72% in 2022, the dry form category led. Due to the rising use of powder-based antioxidants in food products, the high share is understandable. Powders of a technical quality can be used in a wide range of food products. Free radicals are lessened by the powder, which can also greatly lessen the harm they might do. The vast majority of food antioxidants come in dry forms including powder, pills, flakes, and granular. Because they are so simple to use, store, and travel, dry antioxidants are highly favored by customers. Over the future years, an expanding prepared food sector is anticipated to fuel a global increase in demand for dried antioxidants.
Additionally, liquid antioxidants are utilized in a variety of culinary products, including fats & oils, mayonnaise, and others. However, liquid antioxidants are difficult to use, store, and transport. The market is anticipated to have a restricted demand for liquid antioxidants over the coming years because they are difficult to mix with all kinds of food products.
Global Antioxidants Market By Form
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Antioxidants Market Regional Insights
With a revenue share of more than 34% in 2022, Asia Pacific dominated the market. The high percentage can be attributed to the expanding populations of nations like China, India, and Japan. China produced the most food, with an output worth USD 1.56 trillion, according to the Food and Agriculture Organization (FAO). The growth of the Chinese food market is primarily due to the country's rising population. India is the second most populous nation in Asia, which significantly adds to the rise in food consumption. The region-wide health problem has raised awareness of the need to eat healthy meals. Over the anticipated years, an increase in demand for food antioxidants is anticipated due to a growing population and rising food consumption.
In 2022, North America will account for the fastest growing revenue share with a share of over 30%. The high percentage can be attributed to the way of life of customers in various nations. In North America, the majority of individuals are employed as professionals, which places a heavy reliance on prepared foods. Additionally, the terrible COVID-19 situation in the US has forced the public to eat healthily in order to immunize their bodies to combat the virus. Food antioxidants keep the food fresh for a long period and stop the body from producing free radicals. In North America, this aspect is probably going to increase demand for food antioxidants during the coming few years.
Global Antioxidants Market By Region
- Largest
- Fastest
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Antioxidants Market Dynamics
Antioxidants Market Drivers
Increasing Aging Population
- The global population is aging, leading to a higher prevalence of age-related diseases and conditions. Antioxidants are believed to have anti-aging properties and are often recommended to combat oxidative stress and cellular damage associated with aging. This demographic trend is driving the demand for antioxidants in the pharmaceutical and nutraceutical sectors.
Technological Advancements in Antioxidant Research
- Ongoing research and development activities in the field of antioxidants have led to the introduction of new and innovative products with enhanced efficacy and stability. Advancements in extraction techniques, formulation technologies, and delivery systems have expanded the range of antioxidants available in the market, catering to various industries.
Antioxidants Market Restraints
Substitution by Natural Alternatives
- Increasing consumer preference for natural and clean label products has led to a shift towards natural alternatives to synthetic antioxidants. Some natural compounds, such as rosemary extract, green tea extract, and grape seed extract, are being explored as potential replacements for synthetic antioxidants. The availability of natural alternatives can pose a challenge to the growth of the synthetic antioxidants segment of the market.
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Antioxidants Market Competitive Landscape
The market's leading players are committed to developing new products while also making quick investments and merging and acquiring companies. The market's major companies are becoming more innovative, which is fostering a competitive atmosphere for new entrants.
Top Player’s Company Profiles
- BASF SE (Germany)
- Archer Daniels Midland Company (United States)
- DuPont de Nemours, Inc. (United States)
- Eastman Chemical Company (United States)
- Koninklijke DSM N.V. (Netherlands)
- Kemin Industries, Inc. (United States)
- Camlin Fine Sciences Ltd. (India)
- Kalsec, Inc. (United States)
- Naturex S.A. (France)
- Vitablend Nederland B.V. (Netherlands)
- Barentz Group (Netherlands)
- Aland (Jiangsu) Nutraceutical Co., Ltd. (China)
- Tianjin Zhongrui Pharmaceutical Co., Ltd. (China)
- Xi'an Healthful Biotechnology Co., Ltd. (China)
- Adisseo (France)
- BTSA Biotecnologías Aplicadas S.L. (Spain)
- Cayman Chemical Company (United States)
- Danisco A/S (Denmark)
- Nature's Bounty Co. (United States)
- Koninklijke FrieslandCampina N.V. (Netherlands)
Recent Developments
- In April 2023, BASF SE announced the launch of a new line of antioxidants for food and beverage applications. The new products are designed to help food and beverage manufacturers extend the shelf life of their products and improve their nutritional value.
- In March 2023, Eastman Chemical Company announced the expansion of its antioxidant production capacity in China. The expansion is expected to meet the growing demand for antioxidants in the Chinese market.
- In February 2023, DuPont Nutrition & Biosciences announced the launch of a new line of natural antioxidants for food and beverage applications. The new products are made from plant-based ingredients and are designed to meet the growing demand for natural antioxidants in the food and beverage industry.
Antioxidants Key Market Trends
Rising Demand for Natural Antioxidants
- There is a growing preference among consumers for natural and clean label products, including antioxidants. Natural antioxidants derived from plant extracts, such as rosemary, green tea, and grape seed, are witnessing increased demand. This trend is driven by the perception that natural antioxidants are safer and healthier alternatives to synthetic counterparts.
Antioxidants Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global antioxidants market has witnessed steady growth over the years, driven by various factors. The market size is influenced by various sectors, including food and beverages, pharmaceuticals, cosmetics, and animal feed. The global antioxidants market is expected to witness continued growth in the coming years. Factors such as the increasing aging population, rising demand for natural and clean label products, advancements in antioxidant research, and the expansion of emerging markets contribute to the positive outlook. However, market participants need to stay updated with evolving consumer preferences, invest in research and development, and ensure compliance with regulatory requirements to seize opportunities in the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.41 Billion |
| Market size value in 2031 | USD 7.21 Billion |
| Growth Rate | 5.62% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Antioxidants Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Antioxidants Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Antioxidants Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Antioxidants Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Antioxidants Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Antioxidants Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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