Antioxidant Market: Global Industry Analysis and Forecast (2023-2029) Trends

Antioxidant Market was valued at US$ 4.32 Bn. in 2022. The Global Antioxidant Market is expected to grow at a CAGR of 5.6 % during the forecast period 2023 to 2029.
Antioxidant Market Overview:
Antioxidants are substances that stop the oxidation process, which might harm organisms' cells and lead to the creation of free radicals. They may be acquired naturally from various fruits and vegetables, including raspberries, spinach, and eggplant, or they can be produced chemically and used as additives for various uses. In addition to being widely used as a preservative in many processed food goods, it is also widely employed as an additive for gasoline, plastic, and latex. Additionally, it plays a crucial role in many medicinal and cosmetic items. Also contributing to the Antioxidant Market growth throughout the forecast period will be the world's growing population, the increasing demand for processed foods, and the pharmaceutical industry's explosive rise.



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2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2022 is a year of exception and analysis especially with the impact of lockdown by region.
Antioxidant Market Dynamics:
Consumer demand for anti-aging goods has gradually increased, which has led to an increase in the use of these substances in many cosmetic items. These compounds shield human cells from ageing and inflammatory damage. To stop them from spoiling and from going rancid when exposed to oxygen, they are used in a variety of personal care products, including creams, conditioners, shampoos, and body lotions. Vitamin A, vitamin C, butylated hydroxyanisole (BHA), and others are frequently found in cosmetics. The natural cosmetics market in Europe was valued at USD x.x billion and is growing at an average rate of x.x % per year. The market is growing due to the rising demand for cosmetics fortified with nutrients and minerals in Asia and the Middle East.

In the food and beverage business, Antioxidant are still on the rise and are now viewed as a crucial addition. Its widespread use is a result of rising consumer knowledge of the additive's several advantages in reducing chronic illnesses like diabetes. Antioxidant Market growth has been impacted by rising consumer demand for and consumption of processed foods, which frequently include antioxidant chemicals. Its presence prolongs the food's shelf life by preventing oxidation. People are becoming more and more dependent on processed meals as a result of the growing working population and their hectic lifestyles.

Additionally, customers are expecting high-protein, nutritionally dense superfoods as functional meals gain in popularity. These elements prompted manufacturers to create novel items and use cutting-edge technology boost the Antioxidant Market growth.
The Antioxidant Market for animal products has increased dramatically in developing nations due to rising disposable income, population growth, and fast urbanization. Data indicates that cities will be home to 55% of the world's population, and this trend is likely to continue in the years to come. Over the previous 20 years, meat consumption has been steadily rising, and it has already increased by 58.6% to 360 million tones. 54% of this increase, however, is a result of population growth. The Antioxidant Market has shifted to several sophisticated procedures, including unique thermal treatments and the addition of preservatives, from a variety of classic meat preservation processes, such as salting, drying, and smoking. This is forecast to drive the demand for and sales of these compounds, which will help to accelerate the growth of the Antioxidant Market.

The presence of food additives and preservatives is tightly regulated by several regulatory agencies due to the risk it causes to the public's health. Allergies and stomach issues are a couple of the main risks. These regulatory authorities have established a number of standards regarding the dosage quantity of preservatives used in food items in order to assure the highest level of food safety. Long-term efforts are made to combat the overdosage and inconsistent quality of the additives through food standards, food regulation, and flood control systems. This hinders the operations and approvals of new products, which in turn limits market growth.
Antioxidant Market Segment Analysis:
Based on Type, Due to its widespread availability, the synthetic segment will have a significant market share. Chemical synthesis is utilised to create synthetic Antioxidant, which are then widely applied in the food, feed, fuel, and other sectors. They come in four main varieties: tert-butyl hydroquinone, propyl gallate, butylated hydroxyanisole, and butylated hydroxytoluene. Depending on the area and the kind of food it is used in, different synthetic substances have different upper limits that can be found in food. Due to its extensive availability and inexpensive prices, the category is forecast to hold the majority of the market share. Due to consumers' increased preference for safer and clean-label products, the need for natural antioxidant chemicals is on the rise. Although the natural antioxidant market is smaller than the synthetic one overall, it has enormous potential to overtake it as the dominant sector.



Based on the Application, With widespread use, the plastic, rubber, and latex additive markets are quite profitable. To prevent deterioration brought on by thermo-mechanical or thermo-oxidative conditions, they are added to plastic items. They also aid in improving the product's strength, stiffness, flexibility, and aesthetics. The market is forecast to be driven by a rise in demand for these items over the next several years.

The food and feed additives market is expected to grow significantly due to rising demand for the additives in various meat, poultry, and animal food items. They are used in food and animal feed to improve their nutritional value and preserve their flavour, freshness, and odour. Additionally, market growth is forecast to be supported by the rising food market.

The performance-improving and oxidation-slowing characteristics of the product are driving growth in the fuel and lubricant additive markets.
Antioxidant Market Regional Insights:
The Asia-Pacific region dominated the market with 42 % share in 2022. The Asia-Pacific region held the biggest market share for Antioxidant, with a value of USD X.X billion. As one of the top users of petroleum, the area is showing tremendous market growth. The segment is forecast to rise as a result of the growing population and the fastest-growing demand for fuel from a variety of end-use industries, including transportation and power production. Asia-Pacific used 1,651.3 million tones of oil as fuel, according to research. In addition, the region's sizable processed food market contributes to market growth.

The North America region is expected to witness significant growth at a CAGR of X.X % through the forecast period. The market is forecast to grow significantly in North America. The rapidly growing defense and aerospace industries, along with the well-established food market, have fueled regional market growth. The growth has been backed by manufacturers who improvise and make use of cutting-edge technology for creating antioxidant mixtures. Additionally, development will be impacted by the rising use of additives in the rubber, plastic, latex, lubrication, and lubricant sectors as well as the presence of large companies in the area.

The objective of the report is to present a comprehensive analysis of the global Antioxidant Market to the stakeholders in the industry. The past and current status of the industry with the forecasted Antioxidant Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include Antioxidant Market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Antioxidant Market dynamic, structure by analyzing the market segments and projecting the Antioxidant Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Antioxidant Market make the report investor’s guide.
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Antioxidant Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 4.32Bn.


Forecast Period 2023 to 2029 CAGR:
5.6%
Market Size in 2029:
US $ 6.34 Bn.


 Segments Covered:
by Type
Natural
Synthetic


by Application
Food and Feed Additives
Pharmaceutical & Personal Care Product
Fuel & Lubricant Additives
Plastic, Rubber and Latex Additives


by Form
Dry
Liquid



Antioxidant Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Antioxidant Market Key Players
1. BASF SE (Ludwigshafen, Germany)
2. Archer Daniels Midland Company (Illinois, United States)
3. Eastman Chemical Company (Tennessee, United States)
4. Barentz International BV (Hoofddorp, Netherlands)
5. Camlin Fine Sciences Ltd. (Maharashtra, India)
6. Kemin Industries Inc. (lowa, United States)
7. Koninklijke DSM N.V. (Heerlen, Netherlands)
8. Kalsec, Inc. (Michigan, United States)
9. Givaudan (Vernier, Switzerland)
10.ICC Industries Inc. (United States)

Frequently Asked Questions:

1] What segments are covered in the Global Antioxidant Market report?
Ans. The segments covered in the Antioxidant Market report are based on Type and Application.

2] Which region is expected to hold the highest share in the Global Antioxidant Market?
Ans. The Asia-Pacific region is expected to hold the highest share in the Antioxidant Market.

3] What is the market size of the Global Antioxidant Market by 2029?
Ans. The market size of the Antioxidant Market by 2029 is expected to reach US$ 6.34 Bn.

4] What is the forecast period for the Global Antioxidant Market?
Ans. The forecast period for the Antioxidant Market is 2023-2029.

5] What was the market size of the Global Antioxidant Market in 2022?
Ans. The market size of the Antioxidant Market in 2022 was valued at US$ 4.32 Bn.