Food items that are perishable get contaminated or decay easily. If not consumed quickly they rot and cause wastage. With the population growing around the world due to birth rate and life expectancy rising, the longer shelf life of food items is necessary to prevent food scarcity. Food antioxidants can prevent the oxidation of food products and increasing their shelf life. With synthetic antioxidants now being avoided by food manufacturers due to a preference for natural antioxidants, most common antioxidant used in the food industry are butylated hydroxyanisole and butylated hydroxytoluene. Natural antioxidants not only preserve the food. They also offer various health benefits. Meat products have a short shelf life, and that is why natural antioxidants are more useful in the meat industry. In a consumerist world where consumption needs are more and the time to cook is limited, food products with higher shelf life are necessary that fuels the demand for food antioxidants. Increasing health awareness among people and the ability of natural antioxidants to overcome degradation process in meat are the key factors for the rise of global food antioxidants market.
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Top Key Players Trend
The key players in the Global Food Antioxidants Market include
- Eastman Chemical Company (USA),
- Archer Daniels Midland (the USA),
- BASF SE (Germany),
- Cargill Inc. (USA),
- I. du Pont de Nemours and Company (USA),
- Frutarom Ltd. (Israel)
- Kemin Industries, Inc (USA)
Latest Industry News
BASF SE, a Germany-based global food antioxidants market, is planning to increase the global production capacity for its antioxidant Irganox 1010 by 40%. BASF SE is taking steps for the production expansion projects at its sites in Kaisten (in Switzerland) and Jurong (Singapore). With production in Kaisten starting in 2019 and in Singapore in early 2021, BASF SE aims to provide better service regarding meeting the increasing demand from customers in Asia, Europe, Middle East and Africa from its regional supply points. BASF SE is also investing in its McIntosh, Alabama facility in the USA to improve asset reliability.
NuttZo, the famous brand delivering the original multi-nut and seed butter, has launched two new vegans Bold BiteZ flavors. First are peanut pro cacao nibs that has lots of probiotics and the second is power fuel maple + matcha bar that is packed with antioxidants including the powerful EGCG and 9 grams of plant-based protein. It is rich in chlorophyll, fiber, vitamins and minerals including B6, iron, magnesium, niacin, potassium, riboflavin, thiamine, and zinc.
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During the forecast period, the natural food antioxidants are expected to witness high demand. The report also envisages that China, India, Japan and Taiwan will emerge as exporters of used cooking oil during the forecast period. In this report, the global food antioxidants market has been segmented based on type, application, sources and lastly, region. Based on application, food antioxidants market has been segmented into bakery & confectionery, fats & oils, beverages, meat & poultry, processed foods, and others. Among applications, meat & poultry occupy a major share in the market because meat & poultry products require more use of antioxidants due to their short shelf life. By types, global food antioxidants market has been segmented into natural antioxidants and synthetic antioxidants. Based on sources, this market segmentation covers fruits & vegetables, nuts & seeds, spices & herbs, and others.
By region, the Global Food Antioxidants Market has been segmented into Europe, North America, Asia Pacific and rest of the world (RoW). Due to high population, easy availability of food and heavy food subsidization by the government (in the USA), North America is a huge market for food antioxidants. The major share of global food antioxidants market is held by the Asia Pacific with Australia, China, India, and Singapore being the biggest markets. Rest of Asia Pacific countries also have a high demand for food antioxidants. Countries of Asia Pacific have a warm and humid climate. And as there is a dearth of technological advancements equivalent of North America and Europe, in Asia Pacific region, storage and refrigeration facilities for food items are not as good in the Asia Pacific as they are in developed countries. Perishable items rot faster in warm and humid climates.
Therefore, Asia Pacific has maximum demand and hence the market for food antioxidants. As most regions of North America have a cold climate, the shelf life of food items is longer compared to warm countries. That is why North America is the second largest market for food antioxidants. In the North American market, maximum demand, supply, sales, and revenue come from Canada and the United States of America (USA). After North America, Europe is a third largest market for food antioxidants, and here, food items have a longer shelf like not just due to food antioxidants but also due to a cold climate. Biggest markets in Europe include France, Italy, Germany, Spain, and the United Kingdom (UK), followed by rest of Europe. The RoW countries that are serving as market bigger than others include Brazil, Argentina, Saudi Arabia and South Africa.