Market Overview
The industry trends suggest that the global food antioxidants market size will be valued at USD 2,260.10 million in 2022. It is expected to reach a value of USD 1.8 billion by 2030, growing at a CAGR of 6.0% during the forecast period. It is projected to account for 68.1 KT in 2030, growing at a CAGR of 5.47%.
The COVID-19 pandemic impact on feed consumption has directed affected the consumption of meat and livestock products and by-products, such as milk and eggs. It is mainly due to feeding supply shortages due to the shutdown of many facilities and completed lockdown in the majority of the critical countries.
Moreover, there is an increased scepticism among consumers towards consuming poultry products due to the scare of the virus (COVID-19) getting transmitted to humans through consumption. It has reduced the demand for animal feed in the global market.
Factors such as increasing demand for poultry, changing consumer preferences due to fast-paced lifestyles, and increased need for natural antioxidants in food products are driving the market for food antioxidants during the forecast period.
Key Players are
Some major food antioxidants market players are as follows:
Barentz Group (Netherlands), VDH Chem Tech Pvt Ltd (India), followed by others like Camlin Fine Sciences (India), Kalsec Inc. (US), and BTSA (Spain).
Market Segmentation
Growth in the prepared foods industry and other food antioxidants market trends suggest that prepared foods are processed foods that are treated to ensure a longer shelf life, reduce rancidity, and be easy to use. The prepared food industry is expected to witness substantial growth in the coming years due to high disposable income and a gradual increase in the number of working women, thereby positively impacting food antioxidants market outlook. The global market segmentation is as follows:
By Type:
- Natural
- Vitamin E
- Vitamin C
- Carotenoids
- Rosemary extracts
- Green tea extracts
- Synthetic
- TBHQ
- BHA
- BHT
- PG
By Form
- Dry
- Liquid
By Application
- Fats & oils
- Prepared foods
- Prepared meat & poultry
- Seafood
- Bakery & confectionery
- Plant-based alternatives (meat & dairy)
- Nutraceuticals
- Other applications (kinds of margarine, dressings, infant milk formula, mayonnaise, tea, and coffee)
By Source
- Fruits & vegetables
- Oils
- Spices & herbs
- Botanical extracts
- Gallic acid
- Petroleum-derived
Regional Analysis
The Asia Pacific food antioxidants market insights is greatly influenced by consumer preference for healthy eating. the growing trend toward natural and organic foods, and the growing need for convenience food products. With emerging economies, growing industrialization, and other prominent factors like the increasing demand for processed foods, and consumer preference for quality products, ingredient suppliers are becoming increasingly optimistic about the growth of the food and beverage industry. These trends and preferences have created a need for new additives in foods, despite the increasing awareness of synthetic food additives' health hazards.
Industry News
- In July 2018, one of the prominent market companies - Kemin Industries, added a new antioxidant to its portfolio of antioxidant solutions. Fortium RVC is a market product that combines rosemary and ascorbic acid blend. It can be used an alternative to traditional tocopherols in bakery and snack applications.
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