Antioxidants are molecules which inhibits the oxidation process. Food antioxidants is a class of antioxidants which have the property of preventing oxidation of food products thereby increasing their shelf-life. Most common antioxidant used in the food industry are butylated hydroxyanisole and butylated hydroxytoluene. Synthetic antioxidants have shown a downfall as compared to the natural ones because of the health benefits associated with them. Additionally, natural antioxidants provide longer shelf life to the product and hence is extensively used in meat industry.
Furthermore, the market is projected to propel with a high CAGR during the forecast period based on its diverse and potential application in food industry.
Increasing consumption needs of ready to eat food and products with higher shelf life is anticipated to escalate the market demand for food antioxidants on a global level. Food antioxidants in synthetic or natural forms are extensively used in the food industry for this purpose. Increasing health awareness among consumers have a positive impact on natural food antioxidant market. These antioxidants are mostly used in meat industry to overcome degradation process.
The inclination of consumers towards consumption of ready to eat food in food and beverage industry has brought up a new market for the use of antioxidants in the industry. It has gained popularity in the convenience food industry by its multiple applications such as to increase the shelf life, nutrition and product appearance. However, use of synthetic antioxidants have raised a concern because of its safety issues which might hamper the market of synthetic antioxidants over the forecast period.
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Major Key Players:
The major key players in the Food Antioxidants Market,
- Cargill Inc. (the U.S.)
- Eastman Chemical Company (the U.S.)
- Frutarom Ltd. (Israel)
- Archer Daniels Midland (the U.S.)
- I. du Pont de Nemours and Company (the U.S.)
- BASF SE (Germany)
- Kemin Industries, Inc (the U.S.)
New packaging techniques including gases instead of synthetic antioxidants which allows overall increase in shelf life of food products and shift towards plant based natural antioxidants have boosted the market demand for natural food antioxidants. This will bring a dramatic change in the consumption pattern among the consumers. In Asia Pacific, China dominates food antioxidants market and exports the product to various other countries, which include the U.S., Germany and others.
Global Food Antioxidants Market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific holds the major share of the global market followed by North America. Increase in healthy lifestyle and regulatory laws are driving the growth of this region. China, India, Thailand, and Australia are the major importers of food antioxidants.
On the basis of type, synthetic antioxidants dominates the market because of its low cost and increased use in the convenience food industry. However, focus on natural antioxidants is projected to rise during the given forecast period. Furthermore, based on the sources, oils & petroleum dominates the market due to its reasonable cost and wide range applicability. However, focus on petroleum based sources is projected to rise during the given forecast period. On the basis of application, meat & poultry dominates the market because of shorter shelf life of these products and this market is not expecting much growth during the given forecast period.
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- Owning to rising demand for clean label products, natural food antioxidants will witness high demand during the forecast period
Top exporters of used cooking oil include countries such as China, Taiwan, India & Japan.