Food Antioxidants Market: Asia Pacific is estimated to hold the largest market share by 2025

Posted on 2021-03-03 by MarketsandMarkets in Food & Beverage // 0 Comments

The global food antioxidants market size is estimated to be valued USD 1.3 billion in 2020 and is expected to reach a value of USD 1.8 billion by 2025, growing at a CAGR of 6.0% during the forecast period. It is estimated to account for 52.4 KT in 2020 and is projected to account for 68.1 KT in 2025, growing at a CAGR of 5.4% during the forecast period. Factors such as increasing demand for poultry, changing consumer preferences due to fast-paced lifestyles, and increased need for natural antioxidants in food products is driving the market for food antioxidants during the forecast period.

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The food antioxidants market is estimated to grow significantly in the Asia Pacific region due to the rise in demand for poultry meat and poultry byproducts as well as ruminats from the major economies such as China, India, Japan and other South East Asian countries as they experience a surge in the increase in number of health-conscious consumers. With the increase in awareness amongst consumers about the essential nutrients requirement in daily diet, have increased the demand for protein rich meat. In Asia Pacific, trends around healthy lifestyles and prevention among older consumers trying to avoid expensive healthcare costs and extend healthy lifespans are generating growth opportunities dietary supplements. Thus, causing food antioxidants to flourish in the region.

The Asia Pacific food & beverages sector is greatly influenced by the consumer preference for healthy eating, the trend towards natural and organic foods, and the growing need for convenience food products. With emerging economies, growing industrialization, increasing demand for processed foods, and consumer preference for quality products, ingredient suppliers are becoming increasingly optimistic about the growth of the food & beverage industry. These trends and preferences have created a need for new additives in foods, despite the increasing awareness about the health hazards associated with synthetic food additives.

The high demand for convenience foods has implications on the additive categories required to maintain freshness in products and other artificial ingredients and fat replacers. The current boom in the functional food sector has led to the development of an entirely novel ingredients sector, including probiotic and prebiotic components. The international food additives market, which was earlier dominated by major western countries, is now witnessing emergence in Asian markets, which have proven to be promising markets for the growth of this sector.

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Key players are Archer-Daniels-Midland Company (US), BASF SE (Germany), Koninklijke DSM N.V. (Netherlands), Kemin Industries, Inc. (US), DuPont (US), Eastman Chemical Company (US), Frutarom Ltd (Israel), Barentz Group (Netherlands), Camlin Fine Sciences (India), Kalsec Inc. (US), BTSA (Spain), VDH Chem Tech Pvt Ltd (India), Vitablend Nederland BV (Netherlands), Advanced Organic Materials (Germany), Crystal Quinone Pvt Ltd. (India), Yasho Industries (India), Fooodchem International Corporation (US), 3A Antioxidants (US), Oxiris Chemicals S.A (Spain), Pharmorgana GmBH (Germany), Guangzhou ZIO Chemicals Co. Ltd (China), Sasol Limited (South Africa), Naturex (France), and Nagase Group (Japan).

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