Press release
Food Antioxidants Market Witnesses Strong Growth, Projected to Reach $3 Billion by 2028
Food Antioxidants Market
The food antioxidants market has experienced robust expansion, escalating from $1.83 billion in 2023 to $2 billion in 2024, displaying a noteworthy Compound Annual Growth Rate (CAGR) of 9.7%. The market anticipates rapid growth, with projections reaching $3 billion by 2028 at a compelling CAGR of 10.6%.
Key Growth Drivers:
Enhancing Shelf Life and Health Benefits:
The market growth is underpinned by the increased use of food antioxidants to enhance the shelf life of processed food products. Antioxidants play a crucial role in preventing oxidation, improving flavor, aroma, and color. Additionally, the health-protective properties of antioxidants in fruits, vegetables, herbs, and spices contribute to preventing diseases, fostering cardiovascular health, and promoting longevity.
Surge in Plant-Based Meat Consumption:
The burgeoning consumption of plant-based meat is set to propel the food antioxidants market. These antioxidants are incorporated into plant-based meat products to extend their shelf life by curbing oxidation. Given the shorter shelf life of plant-based alternatives, antioxidants play a pivotal role in ensuring freshness and safety, resulting in a significant market boost.
Explore the Global Food Antioxidants Market with a Detailed Sample Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=4123&type=smp
Major Players:
Key players in the food antioxidants market include Archer-Daniels-Midland Company, BASF SE, Koninklijke DSM N.V, Kemin Industries Inc., Eastman Chemical Company, and various others.
Market Trends:
Mergers and Acquisitions Driving Expansion:
Market players are adopting mergers and acquisitions as strategic initiatives for portfolio expansion and geographical reach. For instance, Kemin Industries' acquisition of Proteus Industries Inc. adds clean-label protein ingredients to their portfolio. DuPont's merger with International Flavors & Fragrances aims at synergizing nutrition and industrial biosciences divisions for enhanced customer service.
Innovative Product Development:
Companies are focusing on innovative product development to gain a competitive edge. Kemin Industries' introduction of VALTEQ, a line of quality improvers for instant noodle makers, exemplifies this trend. VALTEQ AO, an all-in-one solution, combines natural antioxidants and emulsifiers to enhance instant noodle quality.
Regional Insights:
Asia-Pacific led the food antioxidants market in 2023 and is projected to be the fastest-growing region in the forecast period. Other regions covered include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Market Segmentation:
The food antioxidants market covered in this report is segmented -
1) By Type: Natural, Synthetic
2) By Form: Dry, Liquid
3) By Source: Fruits and Vegetables, Oils, Spices and Herbs, Botanical Extracts, Gallic Acid, Other Sources
4) By Application: Fats and Oils, Prepared Foods, Prepared Meat and Poultry, Seafood, Bakery and Confectionery, Plant Based Alternatives, Nutraceuticals, Other Applications
Access the Complete Report for In-Depth Analysis:
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Food Antioxidants Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Food Antioxidants Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on food antioxidants market size, food antioxidants market drivers and trends, food antioxidants market major players, competitors' revenues, food antioxidants market positioning, and food antioxidants market growth across geographies. The food antioxidants market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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