The global food antioxidants market size is estimated to be valued USD 1.3 billion in 2020 and is expected to reach a value of USD 1.8 billion by 2025, growing at a CAGR of 6.0% during the forecast period. It is estimated to account for 52.4 KT in 2020 and is projected to account for 68.1 KT in 2025, growing at a CAGR of 5.4% during the forecast period.
Factors such as increasing demand for poultry, changing consumer preferences due to fast-paced lifestyles, and increased need for natural antioxidants in food products is driving the market for food antioxidants during the forecast period.
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The market for food antioxidants, by type, has been segmented into natural and synthetic. Synthetic food antioxidants are synthesized from petroleum-based products. They are used primarily in the food industry to delay lipid oxidation for stabilizing and preserving refined fats & oils within a food system/product. The maximum permissible limit for synthetic antioxidants varies greatly across countries and is dependent on the food it is being used in. Four types of synthetic antioxidants are mostly used in foods—BHA, BHT, PG, and TBHQ.
Antioxidants are used during the processing of oilseeds into fats & oils, where the removal of impurities from vegetable oils can also remove natural antioxidants, predisposing the product to oxidation, causing the natural nutrients and flavors of the food products to be lost. Synthetic antioxidants are used to restore or improve the natural defense of oils & fats against oxidative damage, which significantly increases their shelf life. Antioxidants also find application in the processing of animal fats, in baked goods, the meat industry, and almost all foods that have high oil content, such as margarine and mayonnaise.
The prepared meat & poultry segment accounts for the largest share and is also projected to grow at the fastest rate during the forecast period. There has been a significant increase in demand for poultry meat and other byproducts across the globe. Due to their high phenolic compound content, the natural antioxidants derived from fruits and other plant materials provide a good alternative to synthetic antioxidants.
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The food antioxidants market is estimated to grow significantly in the Asia Pacific region due to the rise in demand for poultry meat and poultry byproducts as well as ruminats from the major economies such as China, India, Japan and other South East Asian countries as they experience a surge in the increase in number of health-conscious consumers. With the increase in awareness amongst consumers about the essential nutrients requirement in daily diet, have increased the demand for protein rich meat.
Leading companies are Archer-Daniels-Midland Company (US), BASF SE (Germany), Koninklijke DSM N.V. (Netherlands), Kemin Industries, Inc. (US), DuPont (US), Eastman Chemical Company (US), Frutarom Ltd (Israel), Barentz Group (Netherlands), Camlin Fine Sciences (India), Kalsec Inc. (US), BTSA (Spain), VDH Chem Tech Pvt Ltd (India), Vitablend Nederland BV (Netherlands), Advanced Organic Materials (Germany), Crystal Quinone Pvt Ltd. (India), Yasho Industries (India), Fooodchem International Corporation (US), 3A Antioxidants (US), Oxiris Chemicals S.A (Spain), Pharmorgana GmBH (Germany), Guangzhou ZIO Chemicals Co. Ltd (China), Sasol Limited (South Africa), Naturex (France), and Nagase Group (Japan).
