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Market Overview:The diverse applicability of food antioxidants is likely to be the food antioxidants market s key point over the forecast period, according to a new research report from Market Research Future (MRFR). The global food antioxidants is likely to grow at a strong XX% CAGR over the forecast period according to the research report, helped by a number of factors such as the increasing demand for packaged food and the increasing use of the facility to extend the shelf date of food by the addition of certain materials known to prolong biological degradation. The report profiles the global food antioxidants market in detail in order to discover the leading parties operating in the market, including the major players operating in the market and the market segments likely to leave the largest imprint in the coming years.
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The growing demand for packaged food is likely to drive the global food antioxidants market over the forecast period. Packaged food requires the addition of certain compounds to prolong the shelf life of the product, as the product is by nature perishable and can easily be degraded by atmospheric oxygen in a short period of time. This has led to a growing demand for food antioxidants in the global food and beverage industry, as they provide a surefire way of preventing oxidation damage to food. The global food antioxidants market is likely to be driven by the growing packaged food market in emerging regions of the world, where packaged food is still considered a novelty in some parts and thus the potential of the packaged food and beverage market is quite high over the long run.
The growing demand for natural food antioxidants over synthetic variants is expected to be a key feature of the global food antioxidants market over the forecast period. While synthetic food antioxidants dominate the global food antioxidants market at present, their adverse effect on both human and environmental health is likely to lead to a drop in sales over the forecast period, with natural food antioxidants, which can be costlier but longer lasting, likely to rise in demand steadily over the forecast period and beyond. In February 2019, Kemin Industries developed a new technology for the development of natural antioxidant derivatives called Powerpacked Molecule. A new brand of naturally derived antioxidants created using this technology will market the products under this umbrella. The new derivatives provide the benefit of requiring lower dosages for equal results in terms of protection against oxidation.
Competitive Analysis:
Leading players in the global food antioxidants market include Archer Daniels Midland, E. I. du Pont de Nemours and Company, Eastman Chemical Company, Kemin Industries Inc., Frutarom Ltd., Cargill Inc., and BASF SE.
Segmentation:
The global food antioxidants market is segmented on the basis of type, source, application, and region.
On the basis of type, the global food antioxidants market is segmented into natural and synthetic. Synthetic antioxidants occupy a higher market share at present, but are likely to be overshadowed by the natural alternatives over the forecast period.
By source, the global food antioxidants market is segmented into oils and petroleum, fruits and vegetables, nuts and seeds, spices and herbs, and others. Oils and petroleum occupy the largest share in the global food antioxidants market due to the ease of acquiring them and deriving antioxidants from the crude materials.
By application, the global food antioxidants market is segmented into fats and oils, beverages, meat and poultry, bakery and confectionery products, processed food, and others. The meat and poultry segment occupy the largest share in the global food antioxidants market and is likely to dominate the market over the forecast period due to the growing demand for packaged meat and poultry products.
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Regional Analysis:
Asia Pacific is likely to dominate the global food antioxidants market over the forecast period due to the growing product development in the field of natural food antioxidants. Increasing consumer awareness in the emerging region is also likely to further propel the food antioxidants market in the region over the forecast period. North America is also likely to exhibit rapid growth at the fastest CAGR over the forecast period.
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Release ID: 491155