Zion Market Research has published a new report titled “Food Antioxidants Market by type (Natural, Synthetic), by Form (Dry, Liquid), by Application (Fats & Oils, Prepared Foods/Meat/Poultry, Beverages, Bakery & Confectionery, Seafood and others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022”. According to the report, the global food antioxidants market was valued at around USD 981.76 million in 2016 and is expected to reach approximately USD 1,340.85 million by 2022, growing at a CAGR of around 6.43% between 2017 and 2022.
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Antioxidants are the substance that prolongs the shelf life of foods by preventing oxidation by saving the food product from deteriorating. Apart from food, antioxidants are used in cosmetics and animal feed additives to reduce singlet oxygen. Antioxidants prevent fat rancidity and color changes in the food.
The food antioxidant market is expected to witness substantial growth within the forecast period. The food antioxidants market has been gaining importance due to its extensive use of the prepared foods & beverages industry. An increase in the purchasing power of the global population can also be attributed to the growth of the food antioxidants market. The food antioxidants market is projected to grow at a CAGR of 6.43%. The market is mainly driven due to increasing end-user applications of food antioxidants. The high cost of food antioxidant and safety issues with synthetic food antioxidants are hindering the market growth. Growing demand in emerging economies is anticipated to set new growth opportunities in the near future.
On the basis of antioxidant type, the market is segmented into natural and synthetic food antioxidant. Synthetic antioxidants accounted for the most dominant segment, by type, in 2016. Emerging economies mostly rely on synthetic antioxidants due to their lesser cost compared to natural antioxidant. However, natural antioxidants are gaining importance in the market and this segment is expected to grow with a higher CAGR compared to that of synthetic antioxidants.
By application, the food antioxidant market is segmented into fats & oils, prepared foods/meat/poultry, beverages, bakery & confectionery, seafood and other food antioxidant applications. The market for food antioxidants is directly influenced by the increase in the purchasing power of the global population, owing to their use in applications such as prepared foods, prepared meat & poultry, beverages, fats & oils, bakery & confectionery, and seafood. The application of food antioxidants in the prepared meat & poultry industry accounted for the largest share in 2016. Busier lifestyles, growth in disposable income and more women entering the workforce are the key reasons driving the market for convenience-based products such as prepared meat & poultry. Prepared meat & poultry represents an opportunity for the key market players to invest in R&D and introduce food antioxidants for nutrient, flavor, and color stability of meat & poultry products.
By geography, the food antioxidant market is mainly segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among all, Asia-Pacific is projected to be the fastest-growing regional market between 2017 and 2022. The emerging economies of the Asia-Pacific region are a major market for food antioxidants and are increasingly contributing to their demand, due to rise in disposable income, increase in population, and growth in the demand for processed foods; owing to which, the food antioxidants market is projected to grow at the highest rate in this region. After the Asia Pacific, North America is another region which exhibits to witness significant growth in coming future. North America accounted a 27.4% of market share across the globe in food antioxidant market.
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The report also includes detailed profiles of end players such as Archer Daniels Midland Company, BASF S.E., Camlin Fine Sciences, E I Du Pont De Nemours And Co, Eastman Chemicals, Kalsec Inc., Naturex S.A., Vitablend Nederland B.V., Koninklijke DSM N.V., Frutarom Ltd., Barentz Group, Kemin Industries, Inc. The detailed description of players includes parameters such as company overview, financial overview, business strategies and recent developments of the company.
This report segments the Global Food antioxidant market as follows:
Global Food Antioxidant Market: Type Segment Analysis
Global Food Antioxidant Market: Form Segment Analysis
Global Food Antioxidant Market: Application Segment Analysis
- Fats & Oils
- Packaged foods
- Bakery & confectionery
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Global Food Antioxidant Market: Regional Segment Analysis
- North America
- The U.S.
- The UK
- The Asia Pacific
- Latin America
- The Middle East and Africa