In 2022, the antioxidants market was expected to be worth close to US$ 2.11 billion. The market would be influenced by a variety of factors all throughout the course of the anticipated period, including the growing global population, rising packaged goods demand, and the pharma industry’s spectacular growth. It is expected to have generated US$ 5.3 billion, with a CAGR of 9.1% from 2023 to 2033.
In the food and beverage business, antioxidants are still on the rise and are now viewed as a crucial addition. Its widespread use is a result of rising consumer knowledge of the additive’s several advantages in reducing chronic illnesses like diabetes. Market expansion has been impacted by rising consumer demand for and consumption of packaged foods, which frequently include antioxidant chemicals. Its presence prolongs the food’s shelf life by preventing oxidation. People are becoming more and more dependent on processed meals as a result of the growing working population and their hectic lifestyles. The number of employed people in the United States climbed from 64.4% in 2018 to 64.9% in 2019, based to the United States Bureau of Labor Statistics.
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Customers are expecting high-protein, nutritionally dense superfoods as functional meals gain in popularity. These elements prompted manufacturers to create novel items and use cutting-edge technology. Global demand for prepared meals has been fueled by rising disposable income and increased urbanization. Working professionals are forced by the lack of time to cook their own food to rely on packaged foods that are convenient to eat and include nutritious ingredients. A change in customers’ choices for food goods is being brought on by a change in their lifestyles. The range of food items on the market and the vitamins and minerals and preservatives they contain are well known to consumers. Over the anticipated years, this element is predicted to support the expansion of the market for food antioxidants on a global scale.
Key Takeaways from the Market Study
- Antioxidant sales have grown historically by 3.2% between 2018 and 2022 on a worldwide scale.
- The market for cosmetic antioxidants is projected to increase from US$ 211.8 million in 2022 to US$ 258 million in 2025 at a CAGR of 6.4%.
- In 2022, the synthetic category had 66.5 percent of the market.
- The market for antioxidant beverages is anticipated to grow at a CAGR of 8.8% over the course of the projected period.
- With a share of 20.4% in 2022, the United States dominated the North American antioxidant market.
- With a CAGR of 6.6% from 2023 to 2033, the United Kingdom is set to rule Europe.
“Consumer demand for anti-aging goods has gradually increased, which has led to an increase in the use of antioxidants substances in many cosmetics as well as food and beverage items,” remarks an FMI analyst.
Competitive Landscape
The top market players are dedicated to creating new goods, while also moving quickly to make investments and complete mergers and acquisitions. The key industry participants’ increasing innovation is creating a competitive environment for new market entrants.
Prominent players in the antioxidants market are Aland (Jiangsu) Nutraceutical Co. Ltd, BASF SE, Cargill Incorporated, Kalsec Inc., Koninklijke DSM N.V., Nutreo N.V., Vitablend Nederland B.V., Archer-Daniels-Midland Company, Cargill Incorporated, and others.
Some key developments of the leading companies in this market are:
- Guardian Toco 30p, a highly efficient and label-friendly antioxidant made from naturally obtained mixed tocopherols that comes in powder form, was launched in 2019 according to DuPont Nutrition & Health. DuPont says that as an alternative to liquid tocopherols, producers of cereal, as well as granola brands, now have a handy, simple-to-use antioxidant protection solution. Concerns of production, such as homogenous distribution, labor-intensive cleanup, handling, and application, may be alleviated by the powder format.
- The BASF product Lucarotin® is a beta-carotene. Provitamin A is found in beta-carotene, an antioxidant that has a number of health advantages. Lucarotin®, a healthy component and food coloring produced by BASF, is utilized in a number of nutritional supplements. Lucarotin® provides luster and brightness to carbonated beverages and juices, in addition to a range of meals, without the need for a warning label. There is no staining in the finished product because of the range’s exceptional color stability.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global antioxidants market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the antioxidants market, the market is segmented on the basis of product type (synthetic antioxidants, natural antioxidants), application (food, beverages, cosmetics, pet food or animal feed) and across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East and Africa)
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Key Segments Profiled in the Antioxidants Market
By Product Type:
- Natural Antioxidants
- Vitamin C
- Vitamin A
- Rosemary extracts
- Vitamin E
- Synthetic Antioxidants
- Butylated hydroxytoluene
- Butylated hydroxyanisole
- Others
By Application:
- Food products
- Beverages
- Pet Food/ Animal Feed
- Cosmetic and personal care products
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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