The global antioxidants market features a competitive landscape dotted with players of all sizes contributing to the increased intensity of competition, observes Transparency Market Research (TMR). Top players operating in the market are the Archer Daniels Midland Company (ADM), Ajinomoto Co., Inc., and BASF SE. Some of other prominent companies in the market are Koninklijke DSM N.V., Cargill Incorporated, Kalsec Inc., DuPont, Kemin Industries, Nutreco N.V., Naturex S.A., and Vitablend Nederland B. V.
The global antioxidants market is projected to garner a revenue worth US$3.11 billion by the end of 2020. The market is anticipated to rise at a CAGR of 5.6% during the forecast period of 2014–2020. The growth of the market will be notably fueled primarily by the rising application of antioxidants in cosmetics and other skincare products.
Broadly, antioxidants are classified into two types – natural and synthetic. Of the two, there is widespread application of synthetic antioxidants in the feed industry. However, over time, the food and feed industries are showing increased proclivity for natural antioxidants. Nevertheless, the ease of availability of synthetic type currently underpins its popularity.
On the regional front, Asia Pacific is projected to rise at an attractive pace during the assessment period. The substantially rising demand for antioxidants comes from rapidly emerging economies of India and China. The growth of this regional market is fueled by the rising uptake of healthier dietary supplements in the food and feed industries.
Substantial Applications as Food Preservatives Propel Demand
The attractive growth experienced by the global antioxidants market can be attributed to their extensive application as preservatives in fat-containing foods by preventing the oxidation of fats and oils. The crucial role played by antioxidants in delaying the onset of rancidity and help prolonging the shelf-life is key to its demand. The rising application of antioxidants in the global feeds industry is a notable factor catalyzing the growth of the market. The global antioxidant market is also expected to benefit from the rising demand for meat.
The cosmetics and personal care industries are emerging as the potential end user for promising application of antioxidants as anti-aging component. This has opened large lucrative avenues in the market.
The notably rising demand for anti-wrinkle creams and lotions to counter aging is accentuating the market growth. In this context, the burgeoning usage of natural antioxidants for cosmetic products has expanded market prospects. With premature aging being a mounting concern, the demand will experience a robust fillip over the assessment period in various parts of the world.
Over the years, the market is likely to witness increased lucrativeness from the demand for natural antioxidants as opposed to synthetic ones. The former occurs naturally in various food and feed ingredients and prevents the formation of free radicals. The attractively rising demand for natural antioxidants in cosmetics formulation and in animal feeds will unlock lucrative opportunities for market players, especially in emerging economies. Natural oxidants are also being potentially demanded in making coloring agent, another factor behind the attractive strides the market will witness in the coming years.
Request to view Sample Report:
Furthermore, the promising demand for functional food and beverages in developed nations, such as in numerous countries of Europe will aid in the substantial expansion of the global antioxidants market.