Antioxidants Market Size and Forecast - 2022-2031 | Key Players: Nutreco N.V., Cargill Incorporated, Naturex S.A
Antioxidants Market segmented by Type, Form, and Application : Global Opportunity Analysis and Industry Forecast, 2022-2031.
PORTLAND, OR, UNITES STATES, February 17, 2023 /EINPresswire.com/ -- The significant impacting factors include increase in demand for antioxidants in different types of industries, including pharmaceutical, additive, and food & beverages, and lenient government regulations such as EU organic regulations, which approved the usage of rosemary extract.
Rise in investment & product approval by regulatory authorities and surge in demand from the food & beverage industry drive the growth of the global antioxidants market
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“Antioxidants Market by Type, Form, and Application: Global Opportunity Analysis and Industry Forecast, 2022–2031,”. The global antioxidants market size was valued at $3,437.3 million in 2020, and is projected to reach $7,376.4 million by 2031, registering a CAGR of 6.9% from 2022 to 2031. The synthetic antioxidants segment dominated the market in 2020, with more than half share, in terms of revenue.
Antioxidants are the vital ingredients that provide longer shelf life to food products and are used as vitamin supplements in pharmaceutical industries. The global antioxidants market is anticipated to witness significant growth during the forecast period owing to decrease in antioxidant costs, increase in investment & approval of antioxidants by many regulatory authorities, and increase in demand for antioxidants in food & beverage industry. Developed economies are trending toward natural antioxidants such as rosemary extract, creating new growth opportunities for the market. On the other hand, Asia-Pacific is expected to show growth in the demand for synthetic antioxidants during the forecast period.
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Covid-19 scenario:
The Covid-19 pandemic negatively affected the market due to sudden change in lifestyle, health and wellbeing, and decline in manufacturing because of lockdown restrictions.
The import and export restrictions on goods and quarantine disrupted the supply chain.
According to the antioxidants market analysis, the market is segmented based on type, form, application, and region. By type, the market is segmented into natural antioxidants and syndicate antioxidants. On the basis of form, the market is classified into dry and liquid. According to application, the market is classified into food & feed additives, pharmaceuticals & personal care products, fuel & lubricant additives, plastic, rubber, & latex additives, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The key companies profiled in antioxidants industry are BASF SE, Cargill, Inc, Kemin Inc., Industries, Inc., Koninklijke DSM N.V., Nutreco N.V., and ViTablend Nederland B.V. Product launch with quality is the key strategy adopted by well-established players to compete in the market.
Key Findings of the Study
The report provides a quantitative analysis of the current antioxidants market trends, estimations, and dynamics of the market size.
By type, the syndicate antioxidants segment dominated the global market in 2020, and is expected to retain its dominance throughout the forecast period.
On the basis of form, the dry segment led the global antioxidants market demand in 2020, and is expected to retain its dominance throughout the forecast period.
By application, the plastic, rubber, & latex additives segment dominated the global market in 2020, and is expected to retain its dominance throughout the forecast period.
Region wise, Asia-Pacific accounted for highest antioxidants market share in 2020, and is expected to grow at a CAGR of 6.4%.
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