Press
Release

Players Banking on Popularity of Plant-based Extracts in Food and Beverage Industry, Antioxidants Market to Reach ~US$ 5.7 Bn By 2027: TMR

• – Continuous research and development activities in improving the role of antioxidants expand the application areas, most notably as additives for feed, plastics, and rubber industries
• – The expanding science behind the role of antioxidants in improving effectiveness of pharmaceuticals and personal care products supports the growing revenue potential, market players leverage the popularity of cosmeceuticals

Transparency Market Research, New York: A wide range of applications of antioxidants has kept the market lucrative. Particularly, their demand in the food industry for extending the shelf life of meat has risen. Several chemicals that act as antioxidants work by scavenging free radicals, hence prevents degradation of food and pharmaceutical products. They are also used in wide variety of formulations.

Analysts at TMR projects the global antioxidants market to garner a steady CAGR of 5% during 2019 – 2027. They assert that research and development activities in the antioxidant market are crucial in improving the effectiveness of antioxidants in a range of applications. They should focus on leveraging the benefits of plant-based antioxidants.

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Key Findings of Antioxidants Market Report

• – The antioxidants market is forecast to reach ~US$ 5.7 Bn by the end of 2027
• – Of all the product segments, natural held the leading market share amounting to one-fourth in 2018
• – Of the various applications, rubber and latex additives are a highly lucrative segment and is expected to remain so during the forecast period
• – Food and feed additives are another promising segment in antioxidants market
• – Geographically, Asia Pacific has been lucrative market, and is anticipated to garner CAGR of more than 5% during 2019 – 2027
• – Japan, ASEAN, India, and China have contributed a large share of revenues to the aforementioned regional market
• – The U.S. generates a huge share of revenue to the North America antioxidants market

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Antioxidants Market: Key Driving Factors and Promising Avenues

Macroeconomic trends in various parts of the world and research and technological advances are key pivots that support the expansion of the antioxidants market. The following factors and trends reiterate this.

• – Plethora of application of antioxidants, such as in food, feed, plastics manufacturing, construction, and pharmaceuticals, is key to rising utilization of products in the market.
• – Strides in demand for aforementioned products in the developing world has spurred the revenue generation for antioxidant producers.
• – Rise in demand for fortifying food with antioxidants is backed with the growing scientific evidence of antioxidants and chronic disease management.
• – Growing utilization of antioxidants as cosmeceuticals is an emerging, lucrative area in the antioxidants market.
• – Extensive demand for antioxidants in preserving meat and meat-based products around the world has been boosting the market’s growth.

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Antioxidants Market: Competitive Assessment

The antioxidants market has several companies looking to gain stronghold. However, to a large extent the competitive landscape is characterized by high degree of consolidation. Specifically, the top six players–SONGWON Industrial Group, Solvay S.A., BASF SE, Clariant AG, Evonik Industries AG, and ADEKA Corporation—held more than 70% market share in 2018. Most players are leaning on expanding their production capacities to meet the rise in demand in end-use industries.

Top players are committing sizable funds on research and developments in order to increase the effectiveness of antioxidant products in various application areas.

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Antioxidants Market: Assessment of Regional Avenues

Of all the key regions, Asia Pacific held the leading share in the global antioxidants market in 2018. The growth in the regional market is expected to fueled by the rapidly rising consumption of pharmaceutical and feed. Moreover, a large part of demand comes from the meat production industry. Further, rise in demand for rubber and plastic additives particularly in China and India will cement the prospects of this regional market.

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The Antioxidants Market can be segmented as follows:

Product

• – Natural
• – Synthetic

Application

• – Food & Feed Additives
• – Pharmaceutical & Personal Care Products
• – Plastic Additives
• – Rubber & Latex Additives
• – Fuel & Lubricant Additives
• – Others (including Inks, Paints & Coatings, Adhesives & Sealants, and Metallurgy)

Region

• – North America
  • – U.S.
  • – Canada
• – Europe
  • – Germany
  • – France
  • – U.K.
  • – Spain
  • – Italy
  • – Russia & CIS
  • – Rest of Europe
• – Asia Pacific
  • – China
  • – Japan
  • – India
  • – ASEAN
  • – Rest of Asia Pacific
• – Latin America
  • – Brazil
  • – Mexico
  • – Rest of Latin America
• – Middle East & Africa
  • – GCC Countries
  • – South Africa
  • – Rest of Middle East & Africa

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