Food Antioxidants Market Size, Share, Trends, Business Opportunities, Industry Overview, and Leading Players

Food Antioxidants Market Size, Share, Trends, Business Opportunities, Industry Overview, and Leading Players
Food Antioxidants Market by Source (Fruits & Vegetables, Oils, Spices & Herbs, Botanical Extracts, Gallic Acid & Petroleum), Application (Fats & Oils, Prepared Meat & Poultry, Bakery & Confectionery), Type, Form and Region – Global Forecast to 2028

The global food antioxidants market was valued at US$ 1.5 billion in 2022 and is poised to grow from US$1.6 billion in 2023 to US$2.2 billion by 2028, growing at a CAGR of 6.2% in the forecast period (2023–2028). Antioxidants are substances that stop the oxidation process, which could harm organisms’ cells and lead to the creation of free radicals. They can be acquired naturally from a variety of fruits and vegetables, including raspberries, spinach, and eggplant, or they can be produced artificially and used as additions for a variety of uses. In addition to being widely used as a preservative in many processed food goods, it is also widely employed as an additive for fuel, plastic, and latex. Additionally, it plays a crucial role in many pharmaceutical and cosmetic items. Also contributing to the market’s growth throughout the projected period will be the world’s growing population, and the high demand for processed foods will provide an explosive rise.

Food Antioxidants Market

What are Food Antioxidants?

Food antioxidants are compounds found in various foods that help protect the body’s cells from damage caused by harmful molecules called free radicals. Free radicals are produced naturally in the body during metabolism, but they can also come from external sources like pollution, UV radiation, and unhealthy diets.

Antioxidants work by neutralizing free radicals, which can otherwise cause oxidative stress and contribute to various health problems, including inflammation, heart disease, and cancer. Common food antioxidants include vitamins such as vitamin C and vitamin E, minerals like selenium and zinc, and phytochemicals found in fruits, vegetables, nuts, seeds, and herbs.

Consuming a diet rich in antioxidants is associated with numerous health benefits, including improved immune function, reduced risk of chronic diseases, and slower aging processes. Eating a diverse range of colorful fruits and vegetables is an excellent way to ensure you’re getting a variety of antioxidants in your diet.

Food Antioxidants Market Trends

The food antioxidants market has been experiencing several notable trends in recent years. Here are some of the key observations:

1. Growing Demand for Natural Antioxidants: There is a rising preference among consumers for natural antioxidants derived from plant sources such as fruits, vegetables, herbs, and spices. This trend is driven by increasing health consciousness and concerns regarding synthetic additives in food products.

2. Clean Label Movement: Consumers are increasingly seeking transparency in food labeling and are favoring products with clean labels, which include natural antioxidants. As a result, food manufacturers are reformulating their products to replace synthetic antioxidants with natural alternatives to meet this demand.

3. Expansion of Functional Foods Market: The functional foods market, which includes products fortified with antioxidants for health benefits, is expanding rapidly. Consumers are seeking foods and beverages that offer not only nutrition but also additional health-promoting properties, leading to the incorporation of antioxidants into a wide range of products.

4. Focus on Shelf-life Extension: Antioxidants play a crucial role in extending the shelf life of food products by inhibiting oxidation and preventing spoilage. With increasing consumer demand for convenient and longer-lasting food options, there is a growing interest in antioxidant-rich ingredients and formulations to enhance product stability and freshness.

5. Emergence of Novel Antioxidants: Research and development efforts are underway to identify and commercialize novel antioxidants with enhanced efficacy and stability. This includes exploring antioxidant compounds from unconventional sources such as microorganisms, algae, and by-products of food processing, as well as the development of synergistic antioxidant blends for optimized functionality.

Food Antioxidants Market Opportunities: Popularity of long shelf life of products due to usage of antioxidants as preservatives boosts market

Awareness about food antioxidants is low, and emerging economies such as China and India are experiencing high industrialization. As these emerging economies grow and attain high disposable income, their demand for food antioxidants is also rising. The Asia Pacific region is exhibiting increased demand for prepared and functional foods & beverages, and hence, the region’s food antioxidants market is expected to grow. The demand for food antioxidants is expected to grow at a modest pace in early adopting countries such as Japan and Germany and at an exponential rate in new & emerging markets such as Thailand, Malaysia, and other Asian countries.

The growing global population is putting more pressure on producers for the manufacturing, extraction, and maintenance of scarce resources. High energy prices and rising raw material costs are impacting food prices, thus affecting low-income consumers. Pressure on food supplies is being exacerbated by water shortages, particularly across Africa and Northern Asia. Advances in science and technology are helping in extending the shelf life of foods to a greater extent. The need for marketing food preservatives to the smallest of food & beverage manufacturers is expected to augment the market size.

Based on application, the prepared meat and poultry segment is projected to witness the highest CAGR during the forecast period.

Prepared meat & poultry products manufacturers use antioxidants for several reasons, primarily to preserve the quality and extend the shelf life of their products. Antioxidants are added to meat products to prevent or delay the oxidation process, which can cause meat to spoil and lose its flavor, texture, and nutritional value. Oxidation occurs when oxygen reacts with the fats in meat, causing them to become rancid and produce off-flavors and odors. To maintain the quality and freshness of meat for longer periods, exporters can incorporate antioxidants, which can either prevent or slow down the oxidation process. This becomes crucial for meat products that need to be transported over long distances or stored for extended periods before being sold. Commonly used antioxidants in the meat industry include Vitamin E, ascorbic acid (Vitamin C), and various plant-based extracts such as rosemary extract, green tea extract, and grape seed extract. Thus, the increase of prepared meat & poultry consumption potentially increase the usage of food antioxidants in the meat & poultry products.

The Asia Pacific market is projected to contribute the largest share for the food antioxidants market.

In 2022, the Asia Pacific region dominated the global market for food antioxidants, largely as a result of the growing demand from food manufacturers in developed nations to move their production facilities to emerging markets, where labor costs are low and establishment and production costs are low. The market revenue growth in the area has been fueled by this trend as well as the increased need for natural and synthetic food antioxidants for producing various food products.

Top Companies in the Food Antioxidants Market

Major key players operating in the food antioxidants market Archer Daniels Midland (US), BASF SE (Germany), International Flavors & Fragrances Inc. (US), Eastman Chemical Company (US) and DSM (The Netherlands).

Archer Daniels Midland (US)

Archer Daniels Midland Company (ADM) produces food & beverage ingredients, feed & feed ingredients, industrial ingredients, biofuels, and naturally derived alternatives to industrial chemicals. It operates through four segments- Agriculture services & oilseed, Carbohydrate solutions, Nutrition and Others. The Nutrition segment offers Food, beverages, nutritional supplements, and feed and premix for livestock, aquaculture, Plant-based proteins, natural flavors, flavor systems, natural colors, emulsifiers, soluble fiber, polyols, hydrocolloids, probiotics, prebiotics, enzymes, botanical extracts, and other specialty food and feed ingredients are among the ingredients and solutions manufactured, sold, and distributed. The food antioxidant market related products are catered by the Nutrition business segment.

BASF SE (Germany)

BASF SE manufactures chemical products, operating in a variety of markets, including chemicals, plastics, performance products, agricultural solutions, and oil and gas. BASF SE operates through seven business segments-Chemicals, Materials, Industrial Solutions, Surface Technology, Nutrition & Care, Agricultural Solutions and Others segment (includes oil & gas and other technical services). In the Nutrition & Care segment, involving the Care Chemicals and Nutrition & Health divisions, they serve the growing and increasingly sophisticated demands for fast-moving consumer goods. This includes food and feed manufacturers, as well as pharmaceutical, cosmetics, detergent, and cleaner manufacturers. They also provide technical applications, crop protection, and nutrition solutions. The food antioxidant market related products are catered in this segment. It primarily operates in Europe and has an active presence in North America, Asia Pacific, South America, Africa, and the Middle East.

International Flavors & Fragrances Inc. (US)

International Flavors & Fragrances Inc. (IFF) is a global company that creates, manufactures, and supplies flavors, fragrances, and specialty ingredients for the food, beverage, consumer goods, and fragrance industries. The company operates through four business segments: Nourish, Health & Bioscience, Scent, and Pharma Solutions. The food antioxidant products are offered under its Health & Bioscience segment. The company has over 110 manufacturing facilities, 100 R&D centers, and customers worldwide, covering Asia, Europe, Africa, and the Americas. In 2021, IFF completed its merger with DuPont’s Nutrition & Biosciences business, creating a global ingredients and solutions leader serving consumer-oriented food and beverage, home and personal care, and health and wellness end markets. This combination is expected to drive long-term, sustainable growth through an expanded portfolio, R&D capabilities, and market positions in high-value ingredients categories.

DSM (The Netherlands)

The DSM (Dutch State Mines) is a global science-based company headquartered in the Netherlands that operates in the fields of health, nutrition, and materials. DSM was founded in 1902 as a state-owned mining company but has since diversified into various industries. The company operates through five business segments: Animal Nutrition & Health, Health, Nutrition & Care, Food & Beverage, Others and Corporate Activities. The food antioxidant market related products are catered by the Food & Beverage segment. The company assists its clients in developing customized solutions such as nutraceutical solutions, market-ready solutions, personalized nutrition solutions, premix solutions, and shelf-life solutions. The company also provides services such as application and technical services, innovation and R&D services, insights and marketing services, regulatory and quality services, and scientific services for their client base. The company has a presence in Europe, Africa, the Americas, Asia, and Australia. Alongside its strong global presence, the company has innovation centers in the US, the Netherlands, and Singapore to connect with its loyal customer base.

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