Increasing Demand for Antioxidants Globally Is Driving the Market Growth

Antioxidants
Antioxidants

Antioxidants Market, By Product Type (Natural Antioxidants (Rosemary Extracts, Vitamin A, Vitamin C, Vitamin E), Synthetic Antioxidants (Butylated Hydroxyanisole (BHA), Butylated Hydroxytoluene (BHT), Others)), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027.

Market Overview:

Antioxidants are substances that help prevent or slow down the damage done by free radicals that are unstable molecules that can damage cells and contribute to aging and disease. Free radicals are produced naturally in the body during metabolism, but they can also be produced by exposure to environmental factors such as pollution, radiation, and cigarette smoke.

Some common antioxidants include vitamin C, vitamin E, beta-carotene, selenium, and flavonoids. Antioxidants are found in many foods, including fruits, vegetables, nuts, and grains, and are also available in dietary supplements.

By the end of 2027, the worldwide Antioxidants Market is anticipated to generate revenues of around US$ 4,556.4 million, expanding at a CAGR of 5.6% over the forecast period (2020-2027).

Competitive Landscape:

Major players operating in the global Antioxidants Market include Givaudan, Koninklijke DSM N.V., Camlin Fine Sciences Ltd., Eastman Chemical Company, Kalsec, Inc., Barentz International BV, Archer Daniels Midland Company, Kemin Industries Inc., ICC Industries Inc., and BASF SE.

Key Market Drivers:

The global antioxidants for market is expected to be driven by several factors, including the growing demand for natural antioxidants in food & beverage products, the increasing use of antioxidants in the cosmetics industry, and the rising health consciousness among consumers. For instance, in April 2021, Cosphatec GmbH introduced a sustainable and innovative antioxidant blend called, Cosphaderm Tapmix.

The increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, and diabetes is estimated to enhance the growth of the global Antioxidants Market. Antioxidants can help reduce the risk of chronic diseases such as cancer, heart disease, and Alzheimer's disease by preventing or slowing down the damage caused by free radicals. Antioxidants such as vitamin C and zinc help boost the immune system by protecting cells from damage and helping to produce white blood cells.

Covid-19 Impact Analysis:

The COVID-19 pandemic has had a mixed impact on the global antioxidants for market. On the one hand, the demand for antioxidants has increased due to the growing awareness about the importance of boosting immunity to fight against the virus. For instance, in April 2021, Kemin Industries introduced an advanced antioxidant solution called, Paradigmox Green. On the other hand, the pandemic has disrupted the global supply chain, leading to a shortage of raw materials and hampering the production and distribution of antioxidants.

Key Takeaways:

· Asia-Pacific is expected to dominate the growth of the global Antioxidants Market, owing to the growing demand for antioxidants in the food & beverage and cosmetic industries in countries such as China and India. For instance, according to the Indian Ministry of Health and Family Welfare, around 800,000 new cancer cases occur every year in India.

· North America is estimated to witness high growth in the global antioxidants for market, owing to the high demand for functional foods and supplements in the region. For instance, in February 2021, SkinCeuticals launched a novel antioxidant serum meant for oily skin.

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