Global Antioxidants Market to be Worth USD 3.25 Billion by 2020, Growing at % CAGR
Zion Research has published a new report titled “Antioxidants (Natural, and Synthetic) Market for Pharmaceuticals, Food & Beverages Sector, Feed Additives, Cosmetics Industry, and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020.” According to the report, global demand for antioxidants market was valued at around USD 2.25 billion in 2014 and is expected to reach USD 3.25 Billion in 2020, growing at a CAGR of approximately 5.5% between 2015 and 2020.
An antioxidant is a molecule that inhibits the oxidation of other molecules. Oxidation is a chemical reaction involving the loss of electrons which can produce free radicals. Antioxidants naturally occur in large number of vegetables, fruits and foods. Beta-carotene, Lutein, Lycopene Selenium, Vitamin A, Vitamin C, and Vitamin E are important are some of the important sources of antioxidants. Theses antioxidants act as an inhibitor and restrict the formation of free radicals by chain oxidation reaction. Antioxidants are also called as reducing agents. Oxidation reactions are important for life; however, excessive free radicals can damage the cells in plants and animal.
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Antioxidants are widely used as in food & beverages and animal feed to prolong the shelf life of these products. Antioxidants are primarily used in meat and poultry products. Pharmaceuticals and cosmetics are other important outlets for antioxidants. Strong growth of theses application market globally is expected to boost demand for antioxidants across the world. However, high-dose supplements of antioxidants may be linked to health risks in some cases. For example, high doses of beta-carotene may increase the risk of lung cancer in smokers. High doses of vitamin E may increase risks of prostate cancer and one type of stroke. Antioxidant supplements may also interact with some medicines. This is expected to affect the growth of antioxidants industry to some extent.
Antioxidants can be classified on the basis of product type such as natural and synthetic. The natural antioxidants includes rosemary extracts, vitamin C (including ascorbic acid), vitamin A (including carotenoids), and vitamin E (including tocopherols and tocotrienols). The synthetic antioxidants includes butylated hydroxytoluene (BHT), butylated hydroxyanisole (BHA), and others. Synthetic antioxidants dominated the antioxidants market with over 60% shares to the total revenue generated in 2014. Demand for synthetic is expected to exhibit CAGR of over 5.5% through forecast period. Low prices have been resulted into growing popularity of synthetic antioxidants. On the other hand, growing demand for organic products is expected to boost demand for natural antioxidants.
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Antioxidants are used in various application areas such as, pharmaceuticals, food & beverages sector, feed additive, cosmetic industry, etc. Strong demand from these application industries contributed to the growth of global antioxidants market. Food & beverages was the largest application market antioxidants in 2014. Cosmetics industry is another important outlet for antioxidants. Moreover, rising demand for antioxidants as an animal feed additive is also expected to boost the demand for antioxidants in the years to come.
Global antioxidants market was dominated by the Asia-Pacific and accounted for more than 30% shares of the total market in 2014. North America was the second highest regional market for antioxidants in 2014. The antioxidants market in Europe is expected to grow at a rapid pace in the years to come. Natural antioxidants market is expected to growth at robust CAGR in Europe and North America, owing to growing demand for organic products in the region.
Some of the key players operating in global antioxidants market include Aland (Jiangsu) Nutraceutical Co., Ltd., Archer-Daniels-Midland Company, BASF S.E, Cargill Incorporated, DuPont, Kalsec Inc., Kemin Industries, Inc., Koninklijke DSM N.V., Naturex S.A., Nutreco N.V., and Vitablend Nederland B.V.
The report segments the global antioxidants market as:
Antioxidants Market: Product Segment Analysis
- Natural Antioxidants
- Synthetic Antioxidants
Antioxidants Market: Application Segment Analysis
- Food & beverages sector
- Feed additives
- Cosmetics industry
Antioxidants Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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