Increasing consumption of processed food, high demand for products with longer shelf life, rapid urbanization, and rising disposable income are some of the factors boosting the growth of the global antioxidants market. An antioxidant is a substance that can reduce the damage which can be caused to other substances due to oxidation.
Based on product, the antioxidants market is categorized into natural and synthetic antioxidants. In the report, natural antioxidants are further classified into vitamin C, vitamin E, vitamin A, polyphenols, and carotenoids, and synthetic antioxidants are further categorized into tert-butylhydroquinone (THBQ), butylated hydroxytoluene (BHT), butylated hydroxyanisole (BHA), and Propyl Gallate (PG). Of the two product categories, natural antioxidants are expected to hold the larger market share during the forecast period, due to the anti-aging benefits offered by them and the growing public awareness on healthy eating habits.
On the basis of application, the antioxidants market is categorized into pharmaceuticals, food and beverages, feed additives, and cosmetics. Of these, the food and beverages category is expected to hold largest share in the market during the forecast period. The antioxidants found in fruits help fight various kinds of health problems, such as cardiovascular diseases. Besides, the growing usage of antioxidants in animal feed is contributing to the market growth, globally. For instance, vitamin E is extensively used in the animal feed for pigs.
During the forecast period, the antioxidants market is expected to register the fastest growth in Asia-Pacific, on account of changing lifestyle of consumers, increasing health problems, rising disposable income, and growing demand for anti-aging products.
Growth in demand for natural antioxidants in small industries can be viewed as a growth opportunity by the players operating in the antioxidants market. Antioxidants find wide application in the animal feed industry, the food and beverages industry, and the cosmetics industry. In the food and beverages industry, the demand for antioxidants is rising on account of the growing inclination of people toward nutritional food and beverages and increasing awareness on the importance of a healthy lifestyle. This, in turn, is translating into a lucrative opportunity for the players in the market to introduce new offerings and increase their market share.
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Antioxidants Market Competitive Landscape
Players in the global antioxidants market are increasingly focusing on the acquisition of other companies to strengthen their product portfolio and increase their market share. For instance, in September 2018, Givaudan SA, a Switzerland-based developer of natural flavors and fragrances, acquired 40.5% share of Naturex S.A., a company specializing in plant extraction and the development of natural ingredients and solutions for the food, health, and beauty sectors.
Due to the presence of a large number of regional and domestic players, the antioxidants market is fragmented. Some of the major players operating in the market are Kemin Industries Inc., Vitablend Nederland B.V., Koninklijke DSM N.V., Nutreco N.V., Aland (Jiangsu) Nutraceutical Co. Ltd., Cargill Incorporated, Kalsec Inc., Naturex S.A., BASF SE, E. I. du Pont de Nemours and Company, and Archer Daniels Midland Company (ADM).
This post was originally published on Financial Sector