Antioxidants Market to Touch US$3.1 bn in 2020

by Amy James Researcher

Transparency Market Research (TMR) has announced the publication of a new market study based on the antioxidants market. According to the report, the global antioxidants market is driven by the growing demand from the cosmetics and skincare segment. The report is titled “Antioxidants Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020” and contains fruitful information on the market dynamics, key competitors, and the general attractiveness of the antioxidants market. According to the report, the global antioxidants market, which was valued at US$2.1 bn in 2013, is set to expand at a CAGR of 5.6% in the forecast period from 2014 to 2020, reaching a value of US$3.1 bn in 2020.

Antioxidants are substances that prolong the shelf life of foods by preventing oxidation, thus saving the food product from deteriorating. Antioxidants prevent fat rancidity and color changes in the food. Antioxidants are thus largely used for preventing cell damage. Apart from food, antioxidants are used in cosmetics and animal feed additives to reduce singlet oxygen.

According to the report, the increasing consumption of meat all over the world has led to growth of the global antioxidants market. Moreover, the increasing demand for anti-aging products is also boosting the global antioxidants market. People are more concerned nowadays about their looks and reversing the effects of ageing. With age, skin tends to lose its defenses against weather and pollution, leading to the appearance of wrinkles and other signs of aging. Premature aging is also a growing concern among young adults, impacting the global antioxidants market positively.

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Antioxidants act as a remedy for skin aging by reducing the formation of radicals in the skin and protecting the cell membranes. Antioxidants prevent the oxidation process by neutralizing the harmful molecules of oxygen and other free radicals. Due to these properties, antioxidants are now used in the health care and food packaging industries, thus fueling the global antioxidants market.

Asia Pacific will experience a high growth rate during the forecast period from 2014 to 2020, followed by Europe and North America. The growth can in the Asia Pacific region can be attributed to the growing health concerns and an increase in the demand for healthier dietary supplements. China and India are majorly contributing to the success of the antioxidants market.

Antioxidants are of two types: synthetic and natural. Currently, synthetic antioxidants are used on a large scale, as they are relatively cheaper, but this trend will soon shift and there will be an increased adoption of natural oxidants, forecasts the report. Growing health concerns and increased awareness about the benefits of everything natural will drive the natural antioxidants market, especially in North America. Additionally, an increased demand from countries such as Italy, Ireland, Germany, and the U.K. for functional food and beverages with increased shelf life is also set to contribute to the growth of the antioxidants market in Europe.

Globally, the market for synthetic antioxidants is anticipated to remain larger than the market for natural antioxidants in the period from 2014 to 2020. The synthetic antioxidants segment includes butylated hydroxytoluene (BHT), butylated hydroxyanisole (BHA), tert-butylhydroquinone (TBHQ), and propyl gallate.

The leading key players in the antioxidants market are BASF, Ajinomoto, and ADM.

The antioxidants market has been segmented as follows:

By geography

North America

Europe

Asia Pacific