Antioxidants
act as a protecting element against the deterioration of food
products caused by the process of oxidation, which manifests in
various conspicuous ways such as a change in color (the ‘browning’
of exposed apple flesh, for instance) and fat rancidity, and help
extend the shelf life of the product. Antioxidants are also used
commonly in cosmetics and animal feed additives to prevent the damage
to living cells due to oxidation. The use of antioxidants has
numerous health benefits such as protection against aging, prevention
of cancer, and cholesterol reduction.
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Global
Antioxidants Market to Grow With a Healthy CAGR of 5.6%
The
global antioxidants market has been enjoying a growing demand in
recent times, since consumers are becoming more informed and thus
more concerned over the safety of food products. The demand for more
natural, less processed food and the proven medical benefits of
antioxidants have driven the expansion of the global antioxidants
market.
In
the last four years, pork took up the largest share in global meat
consumption. Nevertheless, chicken also experienced a high growth in
consumption. Due to the growing consumption of both these meats, the
global antioxidant market is expected to receive greater demand from
the production industry of the animal feed used to raise chicken and
swine. The increase in animal feed production is expected to help the
demand for antioxidants grow at a 5.6% CAGR between 2014 and 2020.
The global antioxidants market was evaluated at US$2,123.4 million in
2013 in terms of revenue and is anticipated to reach US$3,111.5
million by 2020. Another element responsible for the increasing
demand for antioxidants is premature aging due to pollution and other
reasons.
Antioxidants
are primarily divided into two kinds, natural and synthetic, both
being vastly used in the food and feed industries. In the current
scenario, natural antioxidants are more expensive than synthetic
antioxidants. Consumer preference is, nevertheless, expected to
gradually shift from synthetic to natural antioxidants, which will
increase the demand for natural antioxidants in the forecasted
period. Growing demand for natural, chemical-free cosmetics and food
are driving the natural antioxidants market.
Synthetic
Antioxidants Market to Dominate Global Antioxidants Market
The
synthetic antioxidants market is larger than the natural antioxidants
market due to its lower production costs and consequently easy
availability. As a reason, this segment is expected to dominate the
global antioxidant market in the coming years. Synthetic antioxidants
include butylated hydroxyanisole (BHA), butylated hydroxytoluene
(BHT), propyl gallate, and tert-butylhydroquinone (TBHQ). However, as
mentioned before, natural antioxidants are expected to enjoy a steady
growth.
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The
global natural antioxidants market is classified by application into
baked goods, fish and seafood, oil, meat and poultry, and fat and
margarines. Some of the key players in the natural antioxidants
market are BASF Se, Novozymes A/s, DSM, HR Hansen, and Adisseo France
S.a.s., and AB Vista.
Asia-Pacific
Leads Global Antioxidants Market with 31.8% Share in 2013
The
global antioxidants market is segmented geographically into Europe,
North America, Asia-Pacific and Rest of the World (ROW). In 2013,
Asia-Pacific had the largest share in the global antioxidants market,
accounting for 31.8%, followed by North America, which held a share
of 27.4%.
The
growing demand for antioxidants in Asia-Pacific is a result of a
growing need for health and dietary supplements, and the increasing
spending power of the average consumer. The growing population and
health awareness programs in countries such as China and India has
fueled the Asia-Pacific antioxidant market. It is anticipated that
the scenario will remain the same in the forecasted period and
Asia-Pacific will continue to dominate the global antioxidants market
till 2020.
Some
of the prominent players in the global antioxidants market are BASF,
Ajinomoto, ADM, and Kemin Industries. A notable trend in the
competitive landscape of the market is that several of the key market
players are engaging in strategic alliances and partnerships to cope
with the requirement of raw materials and to strengthen the supply
chain management.
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