“The food antioxidants market is projected to grow at a CAGR of 5.10%”
The global food antioxidants market is projected to grow significantly from an estimated value of USD 1.16 billion in 2017 to USD 1.48 billion by 2022, at a CAGR of 5.10%. The food antioxidants market has been gaining importance due to its extensive use in the prepared foods & beverages industry wherein the food antioxidants are used to increase the shelf life of processed snacks, dairy products, meat, poultry, seafood, beverages, and bakery products by preventing oxidative damage and rancidity of the these processed food & beverage products. An increase in the purchasing power of the global population can also be attributed to the growth of the food antioxidants market. High cost of natural food antioxidants and safety issues with synthetic food antioxidants may lead to apprehensions related to the use of food antioxidants. Limited awareness about the use and benefits of food antioxidants may also affect the market growth of food antioxidants.
“The prepared meat & poultry segment, by application, projected to be the fastest-growing in the food antioxidants market”
The application of food antioxidants in the prepared meat & poultry industry accounted for the largest share in 2015, and is projected to grow at the highest CAGR through 2022. 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.
“Synthetic antioxidants accounted for the most dominant segment, by type, in 2015”
Synthetic antioxidants accounted for the largest market share in 2015. Emerging economies mostly rely on synthetic antioxidants due to their considerably lesser cost compared to natural antioxidants. However, natural antioxidants are gaining importance in the market and this segment is expected to grow with a much higher CAGR compared to that of synthetic antioxidants.
“Asia-Pacific: The largest and fastest-growing food antioxidants market”
Asia-Pacific is projected to be the fastest-growing regional market between 2017 and 2022. It was also the largest market for food antioxidants in 2015. Synthetic antioxidants accounted for a much higher share in Asia-Pacific making it the largest market. Improved standard of living and change in customer preference on prepared foods are driving the market for food antioxidants in this region.
Break-up of Primaries:
- By Company Type – Tier 1 - 60%, Tier 2 - 25%, and Tier 3 - 15%
- By Designation – Directors - 35%, C Level - 40%, and Manager Level - 25%
- By Region – North America - 20%, Europe - 30%, Asia-Pacific - 40%, and RoW - 10%
Leading players profiled in this report are as follows:
- BASF SE (Germany)
- E.I. Du Pont De Nemours and Company (U.S.)
- Archer Daniels Midland Company(U.S.)
- Koninklijke DSM N.V. (Netherlands)
- Eastman Chemical Company (U.S.)
- Camlin Fine Sciences, Ltd. (India)
- Barentz Group (Netherlands)
- Kemin industries, Inc. (U.S.)
- Frutarom, Ltd (Israel)
- Kalsec, Inc. (U.S.)
The food antioxidants market has been segmented on the basis of type, form, source, and application which are further divided into their subsegments. It has also been segmented on the basis of region into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Reasons To buy this report:
- To get a comprehensive overview of the global food antioxidants market
- To gain wide ranging information about the top players in this industry, their product portfolios, and key strategies adopted by the players.
- To gain insights of the countries/regions in the food antioxidants industry