Antioxidants Market Outlook and Forecast by 2020

Global Antioxidants Market: Snapshot

An antioxidant is useful in increasing the shelf life of food products by preventing their oxidation which results in fat rancidity and color changes. They not just help in extending shelf life of food products but are also used as additives in cosmetics and animal to thwart damage to cells and lessen singlet oxygen. The global market for antioxidants is powered primarily by the soaring demand for cosmetics and other skincare products such as anti-aging creams and lotions. Antioxidants prevent the skin from aging by lessening the formation of radicals in the skin and protecting the cell membranes. Besides, the spike in consumption of meat worldwide on account of a burgeoning population has also provided a major fillip to their market.

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As per a report by Transparency Market Research, the global market for antioxidants will likely reach a value of US$3.11 bn by 2020 in terms of revenue. Vis-à-vis volume, it would attain a value of 103.3 thousand tons by 2020.

Synthetic Antioxidants Outsell their Natural Counterparts due to Easy Availability

Antioxidants can be broadly segmented into two types – synthetic and natural. Both find application in the feed industry. Synthetic antioxidants are manmade and find application in stabilizing fat, oil, and lipid-containing feed and are primarily phenolic. Such phenolic derivatives are comprised of more than one methoxy or hydroxyl groups. Ethoxyquin is the sole compound containing heterocyclic and Nitrogen (N) which find application in animal feeds.

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Natural antioxidants, as opposed to synthetic oxidants, occur naturally in food and feed ingredients. Some natural antioxidants, namely vitamin C, vitamin E, and carotenoids aid in bringing down the risk of cancer and heart disease by preventing the formation of free radicals. Natural antioxidants also find application in formulating cosmetics, including anti-aging products.

Easy availability of synthetic antioxidants such as BHA, BHT, propyl gallates, and EDTA is predicted to dampen demand for natural antioxidants in the foreseeable future. However, rising demand for natural antioxidants in particular applications such as in coloring agents will likely help to overcome the roadblock.

Depending upon technology, the global market for antioxidants can be classified into radiography testing, ultrasonic testing, electromagnetic testing, and visual testing, among others, including magnetic particle testing and liquid penetrant testing. Depending upon end use industry again, the market for antioxidants can be segregated into automotive industry, power generation industry, aerospace and defense industry, and oil and gas industry. There are others too such as plastic and polymer and medical.

Powered by India and China, Asia Pacific Emerges as a Key Market

From a geographical standpoint, Asia Pacific is a key region whose market is expected to expand at a healthy clip in the upcoming years. The market in Asia Pacific, in particular, is fragmented because of a large unorganized sector of natural antioxidants manufacturers in the region. The growth in Asia Pacific, driven by the fast-expanding populous and emerging economies of India and China, is mainly on account of the increasing health concerns and a growing demand for healthier dietary supplements.

Europe and North America are other crucial antioxidants markets. Other emerging economies too are experiencing a swift expansion in their markets. Brazil in South America is one such nation. With growing per capita income that has resulted in a shift in dietary preferences, the nation is seeing phenomenal growth in the market.

Overall, the global antioxidants market is choc-a-bloc with players of different sizes. Some of the noteworthy names in the market are Vitablend Nederland B. V. Naturex S.A and Nutreco N.V., ADM, Kemin Industries, BASF, DuPont, Kalsec Inc., Cargill Incorporated, and Koninklijke DSM N.V.

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