PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419086
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1419086
Food Antioxidants Market size was valued at USD 1,020.5 Million in 2022, expanding at a CAGR of 7.2% from 2023 to 2030.
Nowadays major foods include antioxidants, which work by neutralizing free radicals to prevent some of the damage they cause. These include the minerals copper, zinc, and selenium as well as the nutritional antioxidants, vitamins A, C, and E. Furthermore, foods high in antioxidants, such dark chocolate, green tea, and berries, are also beneficial in the fight against free radicals.
The food & beverages industry has grown mainly due to the increasing use of food antioxidants in a wide range of packaged foods and prepared meals. During the forecast period, the primary driver of the growing demand for food antioxidants is anticipated to be the growing need for packaged foods to have a long shelf life. An increasing number of people worldwide are consuming more food, which has increased demand for a wide range of prepared foods. Meat, poultry, bread, candies, confections, oil, fish, and many other foods are included in this category. Before being sold to clients, these food items are already cooked and stored at the store for a few days. Global demand for prepared meals has been fueled by rising disposable income and increased urbanization. Working professionals are forced to rely on prepared food products since they are convenient to eat and provide health benefits because they lack the time to prepare their own meals.
The Global Food Antioxidants Market is segmented on the basis of Type, Form, Application, and Region.
The market is divided into two categories based on Type: natural and synthetic. The synthetic food antioxidants segment dominates the market. The natural form is also gaining traction in the market with high demand for naturally enriched food products.
The market is divided into two categories based on Form: liquid and dry. The dry segment dominates the market and is likely to maintain its dominance during the forecast period. The growing demand for powder, and inclusion of small extracts to fuel the segment growth.
The market is divided into four categories based on Application: processed food, beverages, fats & oils, and others. The processed food dominates the market and is likely to maintain its dominance during the forecast period. High demand for quick processed food a key factor contributing to segment growth.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
The Food Antioxidants market is highly fragmented in nature. Key players in the market are focused on new product design paired with the rapid investment and mergers & acquisitions. The market's major players are becoming more innovative, which is making it more competitive for new competitors to enter. new product development as strategic tactics employed by the major corporations to improve their brand presence among customers.
In 2021, BASF SE has invested for its Irganox 1010 antioxidant by 40% across the world through expansion projects at its sites in Singapore and Switzerland.
The scope of this report covers the market by its major segments, which include as follows: