Food Antioxidants Market Overview
Food antioxidants market is expected to grow at a CAGR of 5.47% and reach a value of USD 2.25 Bn by 2030
Food Antioxidants Market Trends
Food antioxidants are projected to gain in popularity as a result of their capacity to extend shelf life and improve product stability. The global food antioxidants industry is being driven by a massive growth in the use of ready-to-eat meals and regulatory laws. Food antioxidants' acceptability as a source of preservation has widened their applicability in the food business. On a global scale, rising consumer demand for ready-to-eat foods and products with longer shelf lives is expected to drive up market demand for food antioxidants. In the food sector, food antioxidants, whether synthetic or natural, are widely employed for this purpose. Increased consumer health awareness has a favorable impact on the natural food antioxidants market outlook. Antioxidants are commonly utilized in the meat business to slow down the decomposition process.
The trend among customers to consume ready-to-eat foods in the food and beverage business has created a new market for antioxidants in the industry. Its various applications, such as increasing shelf life, nutrition, and product aesthetics, have made it popular in the convenience food sector.
Synthetic antioxidants, on the other hand, have prompted concerns about their safety, which could limit the market for synthetic antioxidants over the projection period. The influence of COVID-19 on feed consumption has had a direct impact on meat and livestock products and byproducts, such as milk and eggs. This is primarily due to feed supply constraints as a result of many facilities being shut down and the bulk of large countries being placed on lockdown.
Furthermore, due to the fear of the virus (COVID-19) being transmitted to humans through the consumption of poultry products, there is a growing level of distrust among consumers. As a result, the global demand for animal feed has decreased.
Competitive Dynamics
The key players profiled in the food antioxidants market are Archer Daniels Midland (the U.S.), BASF SE (Germany), E.I. du Pont de Nemours and Company (the U.S.), Cargill Inc. (the U.S.), Eastman Chemical Company (the U.S.), Frutarom Ltd. (Israel), Kemin Industries, Inc (the U.S.)
The food antioxidants market outlook is divided into two types: natural and synthetic. Synthetic antioxidants, for example, have a large market share due to their low cost and great production capacity.
The food antioxidants market is divided into sources, which include fruits and vegetables, nuts and seeds, oils and petroleum, spices and herbs, and others. Oils and petroleum have a large proportion of the market due to their wide range of applications and ease of availability, which has raised the demand for petroleum-based antioxidants to extend the shelf life of food goods.
Fats & Oils, Processed Foods, Beverages, Bakery & Confectionery, Meat & Poultry, and Others are the application segments of the food antioxidants market. Meat and poultry hold a significant share of the market due to their ease of degradation, which has boosted the demand for food antioxidants to extend the shelf life of food products.
Region Overview
North America, Europe, Asia Pacific, and the Rest of the World make up the worldwide food antioxidants market. During the predicted period of 2022–2030, Asia Pacific is expected to maintain its dominance. One of the major causes of the rising adoption of natural food antioxidant-based products in the Asia Pacific market is growing consumer awareness and regulatory laws. During the forecast period of 2022–2030, however, the global food antioxidants market insights are expected to develop at the fastest rate in North America.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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