The food antioxidants market is witnessing significant growth, driven by increasing consumer awareness about the health benefits of antioxidants, rising demand for processed and packaged foods, and advancements in food preservation technologies. Antioxidants play a crucial role in extending the shelf life of food products by preventing oxidation, which can lead to spoilage and loss of nutritional value. This makes them indispensable in the food industry.
The global food antioxidants market size 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).
Food Antioxidants Market Growth Drivers
Prepared foods are processed to enhance their shelf life, minimize rancidity, and offer convenience. The industry for prepared foods is expected to see substantial growth in the coming years, driven by factors such as higher disposable incomes and a rising number of working women, which will positively impact the food antioxidants market.
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Economic growth, especially in emerging markets like India and China, has increased demand for convenience foods. A study in the American Journal of Clinical Nutrition revealed that ultra-processed food consumption in the US rose from 53.5% of daily caloric intake in 2001-2002 to 57% by 2017-2018. The popularity of convenience and processed foods is due to their ease of use, variety, and availability throughout the year. These foods are typically pre-packaged and contain preservatives to extend their shelf life, making them ideal for long-term storage and transportation. Maintaining the quality, flavor, taste, and nutritional profile of these foods is essential, driving the need for antioxidants.
Dry Format Takes the Lead in the Food Antioxidants Industry
Dry form of antioxidants is typically less prone to spoiling or more stable than liquids form. This makes them easier to store and transport and ensures that they maintain their quality over time. These dry forms of antioxidants have longer periods of time without losing their effectiveness or characteristics. This makes them a more convenient option for food manufacturers who need to produce massive quantities of products and store them for extended periods of time. These factors are commonly considered by the food processing industries, while purchasing raw materials. Considering these facts, the demand for dry form of ingredients accounted to have the largest segment of the food antioxidants industry.
Fruits & Vegetables Take the Largest Food Antioxidants Market Share
Naturally derived antioxidants from fruits and vegetables are gaining popularity in the food industry for several reasons. One of the factors is, health benefits of the naturally sourced antioxidants from fruits & vegetables. Fruits and vegetables are known to be rich sources of antioxidants such as vitamin C, vitamin E, and beta-carotene.
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These antioxidants have been shown to have numerous health benefits, such as reducing inflammation, improving cardiovascular health, and protecting against cancer. Consumers are increasingly interested in healthy food options, and many are looking for products that contain natural, plant-based ingredients. As a result, food manufacturers are responding to this demand by incorporating more fruits and vegetables, and their associated antioxidants, into their products.
Top Food Antioxidants Companies
- Archer Daniels Midland (Us)
- BASF SE (Germany)
- International Flavors & Fragrances Inc. (Us)
- Eastman Chemical Company (Us)
- DSM (The Netherland)
- Camlin Fine Sciences Ltd (India)
- Kemin Industries, Inc. (Us)
- Vitablend Nederland B.V. (The Netherlands)
- Divi’s Laboratories (India)
- Kalsec Inc. (Us)
