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Food Antioxidants Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast By - 2033

  • PUBLISHED ON
  • 2024-06-02
  • NO OF PAGES
  • 291
  • CATEGORY
  • Chemicals & Materials
Market Overview

Food Antioxidants Market size was valued at USD 2,400 million in 2022 and is projected to reach USD 3,700 million by 2033, growing at a CAGR of 7.5% during the forecast period.

Report Scope

Report Attributes

Description

Market Forecast in 2022

USD 2,400 million

Market Forecast in 2033

USD 3,700 million

CAGR % 2023-2033

7.5%

Base Year

2022

Historic Data

2020-2021

Forecast Period

2023-2033

Report USP

Product, end-user industry, company share, company heat map, company Capacity Technology Product capacity, growth factors and more

Key Companies

Roche Diagnostics; BD (Becton, Dickinson and Company); Johnson & Johnson; Abbott Laboratories; Ascensia Diabetes Care; Owen Mumford; Terumo Corporation; Ypsomed; Sarstedt AG & Co. KG; ARKRAY, Inc.



Food Antioxidants Market- Description

The food antioxidants market refers to the industry involved in the production, distribution, and consumption of additives or natural substances used to prevent oxidation in food products. Oxidation is a chemical process that can lead to the deterioration of food, resulting in changes in color, taste, texture, and nutritional value.

Food antioxidants are added to food products to extend their shelf life, maintain quality, and preserve their nutritional content. Antioxidants work by inhibiting or slowing down the oxidation process, which occurs when oxygen interacts with fats, oils, pigments, and other components of food.

This helps to prevent the formation of free radicals, which are unstable molecules that can damage cells and contribute to various health issues, including heart disease, cancer, and aging. The demand for food antioxidants has been increasing over the years due to several factors. Firstly, consumers are becoming more conscious of their health and are actively seeking out food products with extended shelf life and preserved freshness.

Antioxidants are perceived as natural and safe ingredients that can help achieve these goals. Secondly, the food industry is experiencing a rise in demand for processed and convenience foods, which require effective preservation methods to maintain their quality during storage and transportation.

Consumers are increasingly opting for natural antioxidants derived from plant sources, such as rosemary, green tea extract, and grape seed extract. These natural antioxidants are seen as healthier alternatives to synthetic antioxidants like BHA (butylated hydroxyanisole) and BHT (butylated hydroxytoluene), which have raised concerns about their long-term effects on health.

There is a growing demand for clean label products, which means food products with minimal additives and ingredients that are easily recognizable by consumers. Food manufacturers are responding to this trend by using antioxidants derived from natural sources and clearly labeling them on the product packaging.

Antioxidants are not only used for food preservation but also for their potential health benefits. Functional antioxidants, such as vitamins C and E, are being incorporated into various food and beverage products to promote wellness and address specific health concerns.

Food Antioxidants market: Key Trends

• Rising Demand in Developing Markets

The food antioxidants market is expanding in developing regions, such as Asia-Pacific and Latin America, due to factors like urbanization, changing lifestyles, and increasing disposable incomes. These regions are witnessing a shift towards processed and packaged foods, creating a greater need for effective antioxidant solutions.

• Innovation and Research

There is ongoing research and development in the food antioxidants market to discover new and more effective sources of antioxidants. Scientists are exploring plant extracts, marine sources, and even waste materials from food processing as potential antioxidant ingredients.

Food Antioxidants market: Segmental Analysis

By Source
• Fruits & Vegetables
• Oils, Spices & Herbs
• Botanical Extracts
• Gallic Acid & Petroleum

By Application
• Fats & Oils
• Prepared Meat & Poultry
• Bakery & Confectionery

Food Antioxidants market: Geographical landscape

The global Food Antioxidants market is experiencing significant growth and is expected to continue its upward trajectory in the coming years. When analyzing the regional landscape, several key regions emerge as prominent players in the market.

North America, comprising the United States and Canada, holds a substantial share in the Food Antioxidants market. The region's robust food and beverage industry, coupled with the increasing consumer awareness regarding the health benefits of antioxidants, drive the demand for these ingredients.

Additionally, the presence of major food manufacturers and a growing preference for clean-label products further contribute to the market growth in North America. Europe is another prominent region in the Food Antioxidants market. The region's strict food safety regulations and emphasis on natural ingredients in food products have propelled the demand for antioxidants.

Moreover, the rising trend of organic and natural food consumption among European consumers fuels the market growth. Countries like Germany, France, and the United Kingdom are key contributors to the regional market due to their well-established food processing industries.

Food Antioxidants Market- Recent Developments

• The year 2020 witnessed a significant milestone as Unilever's collaboration with Algenuity, a leading authority in microalgae, signified a crucial advancement in the pursuit of sustainable food alternatives. The partnership highlights the immense untapped potential of microalgae as a sustainable and environmentally friendly protein substitute. He emphasizes their pivotal role in the transformation of the food system.

Food Antioxidants Market: Key Companies

• Roche Diagnostics
• BD (Becton, Dickinson and Company)
• Johnson & Johnson
• Abbott Laboratories
• Ascensia Diabetes Care
• Owen Mumford
• Terumo Corporation
• Ypsomed
• Sarstedt AG & Co. KG
• ARKRAY, Inc.
• Others

Food Antioxidants Market: Regional Scope

North America
• U.S.
• Canada
• Mexico

Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe

Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific

South America
• Brazil
• Argentina
• Rest of South America

Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa


Quality Assurance Process

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We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
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  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


Frequently Asked Questions

What is the market size and growth projections?

The global Food Antioxidants market size was valued at USD 2,400 million in 2022 and is projected to reach USD 3,700 million by 2033, growing at a CAGR of 7.5% during the forecast period.

What are the drivers shaping various markets?

Innovation and Research: -There is ongoing research and development in the food antioxidants market to discover new and more effective sources of antioxidants. Scientists are exploring plant extracts, marine sources, and even waste materials from food processing as potential antioxidant ingredients.

Who are the key competitors of market Players?

Some of the major players operating within the market are Roche Diagnostics; BD (Becton, Dickinson and Company); Johnson & Johnson; Abbott Laboratories; Ascensia Diabetes Care; Owen Mumford; Terumo Corporation; Ypsomed; Sarstedt AG & Co. KG; ARKRAY, Inc.

What are the top performing segments, and countries / regions of each of the markets?

Europe is another prominent region in the Food Antioxidants market. The region's strict food safety regulations and emphasis on natural ingredients in food products have propelled the demand for antioxidants. Moreover, the rising trend of organic and natural food consumption among European consumers fuels the market growth.

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