FMI Predicts Antioxidants Market to Surpass 103.3 Thousand Tons by 2020

Posted by Shirish Wadaskar on July 19th, 2017

Introduction

Antioxidant can be defined as a substance that extends the shelf life of food products by protecting them against corrosion caused by oxidation such as fat rancidity and color changes. These substances are also called ‘shelf-life extenders’. Antioxidants are utilised as food, cosmetics and animal feed additives for different purposes, such as to prevent damage of cells and to reduce singlet oxygen. There are two kinds of antioxidants - synthetic and natural. Antioxidants act as a solution to ageing of skin. They protect the cell membranes and inhibit the oxidation process by neutralising toxic oxygen molecules and free radicals. In addition to the food industry, antioxidants are now widely popular and widely utilised in health care, food packaging and the cosmetics industry.

Market Value and Forecast

The global antioxidants market is anticipated to expand at a high CAGR in terms of value during the forecast period. Pork meat has been accounting for the largest volume share of the overall global meat consumption in the last four years. However, chicken meat consumption has experienced high growth over the last four years. The increase in demand for anti-aging products is also stimulating the growth of the global antioxidants market currently. Aging is defined as deterioration of physiological functions in organisms. As people get older, their skin loses its defence against external weather due to oxygen deficiency. Increasing pollution is also a major inducer of premature aging as it results in the activation of metalloproteinases that disintegrate collagen.

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Segmentation by Product

The global antioxidants market can be segmented on the basis of natural antioxidants and synthetic antioxidants. Natural antioxidants market is further sub categorised into rosemary extracts, vitamin A (including carotenoids), vitamin C (including ascorbic acid) and vitamin E (including tocopherols and tocotrienols). The synthetic antioxidants segment includes Butylated Hydroxyanisole (BHA), Butylated Hydroxytoluene (BHT) and others (including Tert-Butylhydroquinone (TBHQ), propyl gallate). The market for synthetic antioxidants is comparatively larger as compared to the natural antioxidants market and is likely to remain dominant in future till 2020.

Key Regions

The global antioxidants market includes four major regions, namely North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific dominated the market in 2013, accounting for 31.8% value share of the market globally. The growth in Asia-Pacific is attributed to increasing health and wealth awareness and rising demand for anti-aging products.