Antioxidants
Market: Introduction
In
terms of value, the global antioxidants market is anticipated to expand at a CAGR of 5% from 2019 to 2027.
Antioxidants prevent damage to free radical-induced tissues by preventing
formation of radicals, promoting their decomposition, or by scavenging them.
Damage to cells affected by free radicals plays a central role in the aging
process and disease progression. Antioxidants are used as a defense against the
free radical damage. The demand for antioxidants in the food & feed
industry is increasing rapidly across the globe. This has resulted in extensive
usage of numerous types of antioxidants in food & feed production.
Rise
in Adoption of Antioxidants for Meat Products
Rise
in consumption of meat in various developed and developing countries is a key
factor anticipated to propel the demand for natural antioxidants in the global
meat industry during the forecast period. Increase in demand for ready-to-eat
meat products, owing to their high protein content, is one of the prominent
factors driving the global antioxidants market. Furthermore, increase in per
capita income in developing countries and rise in demand for frozen meat
products, especially among the working population, are estimated to augment the
global meat market during the forecast period. This, in turn, is projected to
augment the antioxidants market.
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Preference
for Natural Antioxidants
Based
on product, the global antioxidants market has been bifurcated into natural and
synthetic. The natural segment is expected to expand at a CAGR of 5.4% during
the forecast period. Natural antioxidants are primarily preferred for disease
prevention. These antioxidants are categorized into four types: vitamin A,
vitamin C, vitamin E, and rosemary extract. Natural antioxidants contain active
compounds, which use antioxidative potential in meat products. The antioxidant
action takes place, owing to the presence of synthetic acids, synthetic
diterpenes, and flavonoids & volatile oils. Natural antioxidants are
primarily distributed in medicinal and food plants. Natural antioxidants,
particularly carotenoids and polyphenols, exhibit various biological effects,
including anti-aging, anti-inflammatory, anticancer, and anti-atherosclerosis.
The proper assessment and effective extraction of antioxidants from medicinal
and food plants plays an important role in exploring potential antioxidant
foundations and promoting applications in pharmaceuticals, functional foods,
and food additives.
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Rubber
& Latex Additives to be Major Application Area of Antioxidants
Based
on application, the global antioxidants market has been segregated into food
& feed additives, pharmaceutical & personal care products, plastic
additives, rubber & latex additives, fuel & lubricant additives, and
others (including inks, paints & coatings, adhesives & sealants,
metallurgy). The rubber & latex additives segment accounted for more
than 30% share
of the global antioxidants market in 2018. Antioxidants are chemicals that
help protect rubber articles against attack from oxygen. This is a key factor expected
to increase the adoption of antioxidants in the rubber & latex industry.
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Asia
Pacific to be Lucrative Region of Antioxidants Market
In
terms of consumption, Asia Pacific dominated the global antioxidants market
in 2018. The
market in the region is expected to expand at a rapid pace from 2019 to 2027. Rapid
urbanization, rise in consumption of pharmaceutical products, expansion in
construction and infrastructure industries, strong economic growth, and growth
in meat consumption are major macroeconomic factors that are projected to fuel
the demand for antioxidants in the near future. Increase in consumption of
antioxidants in applications in plastic and rubber industries is also estimated
to drive the market in Asia Pacific. The rubber & latex additives segment
in Asia Pacific, particularly in India and China, is likely to witness moderate
growth in consumption of antioxidants in the next few years. In terms of
consumption, North America is expected to be a vital region of the global
antioxidants market during the forecast period.
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Competition
Landscape
The
global antioxidants market was highly fragmented in 2018, with numerous
manufacturers operating in the market. SONGWON Industrial Group, BASF SE,
Solvay S.A., Clariant AG, ADEKA Corporation, and Evonik Industries AG are the
leading companies that accounted for more than 70% share of the market in 2018.
Manufacturers operating in the global antioxidants market include SONGWON Industrial Group, BASF SE, Solvay S.A., Clariant AG, ADEKA
Corporation, Evonik Industries AG, 3V Sigma USA Inc., Rianlon Corporation,
Everspring Chemical Co., Ltd., SI Group, Inc., Oxiris Chemicals S.A., Dover
Chemical Corporation, Double Bond Chemical Ind. Co., Ltd., TAIWAN DYESTUFFS
& PIGMENTS CORP., Beijing Tiangang Auxiliary Co., Ltd., Dalian Richfortune
Chemicals Co., Ltd., and Chitec Technology Co., Ltd.
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