At 5.3% CAGR, Global Antioxidant BHT Market Size & Share Surpass US$ 339.4 Mn By 2030, Forecast & Analysis Report By CMI
Antioxidant BHT Market was at US$ 227.3 Million in 2021 and is growing to approx US$ 339.4 Million by 2030, with a CAGR growth of 5.3% between 2027 and 2030.
SANDY, UTAH, UNITED STATES, November 1, 2022 /EINPresswire.com/ -- According to the study, The Global Antioxidant BHT Market was estimated at USD 227.3 Million in 2021 and is anticipated to reach around USD 339.4 Million by 2030, growing at a CAGR of roughly 5.3% between 2027 and 2030.
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Antioxidant BHT Market: Overview
The increasing demand for protein and food products obtained from animals has boosted the market for antioxidant BHT to a great extent. The rising need for antioxidants from natural sources in food substances is helping the market record a considerable revenue over the period. The pandemic outbreak had a considerable impact on the antioxidant BHT market due to the misconceptions spread about the causative factor of the pandemic. The demand for animal feed had reduced to a great extent in the global market, which hampered the growth of the antioxidant BHT market as well.
Antioxidant BHT Market: Growth Drivers
Accident BHT has increased the products’ shelf life by maintaining a substance’s value. The usage of high-quality preservatives is essential to retain any product’s quality. The food and beverages industry has used these advanced procedures on a large scale. The increased consumption of animal-sourced food products has boosted the demand for better antioxidants and preservation techniques. The cosmetic industry has used antioxidant BHT on a large scale for organic products, which tend to degrade with time.
The effect of external impressions on the product hampers its value and quality, which can be prevented with the help of the antioxidant BHT. This product is mixed with plastic and other products to maintain their inner contents. External impressions are prevented from hampering the quality and texture of the products. These multiple reasons have emerged as the driving forces for the market’s growth and are expected to propel the demand during the forecast period.
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Key Insights:
A) As per the analysis shared by our research analyst, the Antioxidant BHT market is estimated to grow annually at a CAGR of around 5.3% over the forecast period (2022-2030).
B) In terms of revenue, the Antioxidant BHT market was valued at around USD 227.3 Million in 2021 and is projected to reach USD 339.4 Million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) The various side effects associated with using synthetic antioxidants have hindered the market’s growth tremendously. The products’ nutritional benefits are sometimes destroyed when the chemicals react with the products inside.
D) The increasing research and development that the key market players carry out have helped them to introduce new options of preservatives for the manufacturing and packaging industry. Increasing demand for better preservatives by the bakery industry has greatly boosted the market’s growth.
E) The rules and regulations imposed by the government regarding the safety norms of the products with preservatives have greatly hampered the market’s growth. The cost of the final products increases considerably with advanced preservatives, which hinders the demand for the goods in the market.
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Regional Landscape
Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The geographical region of Asia Pacific has emerged as the fastest developing market and is expected to grow similarly during the forecast. The increasing demand for food sources obtained from animal kingdoms and protein has boosted the demand for the antioxidant BHT market. The food and beverages sector belonging to this region is highly influenced by the recent trend of organic and natural food products.
The rising need for packed and processed food products with guaranteed quality checks helps the market record considerable growth during the forecast period. Increasing demand for convenience food products has driven the market towards a tremendous growth phase. The region of North America has also contributed significantly due to the huge consumption of food products obtained from animals.
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Key Players
Kemin Industries Inc. (U.S.)
BASF SE (Germany)
Koninklijke DSM N.V. (Netherlands)
Eastman Chemical Company (U.S.)
Kalsec Inc. (U.S.)
Archer-Daniels-Midland Company (U.S.)
Barentz Group (Netherlands)
Adisseo (France)
International Flavors & Fragrances Inc. (U.S.)
DuPont de Nemours Inc. (US)
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The Antioxidant BHT Market is segmented as follows:
By Type
Natural
Synthetic
By Application
food and feed additives
Fuel and lubricant additives
Pharmaceutical and personal care products
Plastic and rubber additives
By Geography
North America
The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa
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