The food antioxidants market was valued at USD 1,100.4 million in 2016 and is projected to grow at a CAGR of 5.10% to reach USD 1,483.1 million by 2022. Food antioxidants are a class of compounds with the property of preventing oxidative rancidity in various food products; hence, they are used for the preservation of food products such as processed foods, dairy products, meat, seafood, oils, beverages, and bakery. F&B manufacturers across the globe use food antioxidants to maintain the nutrients, color, flavor, and texture of their products. Owing to the increasing demand for prepared food products in emerging markets like India, China, and Brazil, the market offers potential growth opportunities to the market players in the near future.
The U.S. and developed countries in Europe are currently witnessing a trend of consumption of “natural and healthy” food and hence, are more inclined toward natural food antioxidants, owing to their health benefits and lesser side effects. In developing countries, however, natural food antioxidants are priced higher than their synthetic counterparts, hence synthetic antioxidants have more demand. This trend could also be attributed to less stringent regulations for food antioxidants in developing countries, compared to those in developed ones.
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The prepared meat & poultry segment, by application, is projected to be the fastest-growing in the food antioxidants market as these products constitute a substantial portion of the world’s diet, they are also generally more expensive than other food items; hence, their preparation is given extra consideration. Prepared meat & poultry thus represent an opportunity for the key market players to invest in R&D and introduce food antioxidants for nutrient, flavor, and color stability of meat & poultry products.
Asia-Pacific is projected to be the fastest-growing regional market between 2017 and 2022. The emerging economies of the Asia-Pacific region are a major market for food antioxidants and are increasingly contributing to their demand, due to rise in disposable income, increase in population, and growth in the demand for processed foods; owing to which, the food antioxidants market is projected to grow at the highest rate in this region. Food antioxidant manufacturers such as Camlin Fine Sciences, Ltd. (India) and E.I. Du Pont De Nemours and Company (U.S.) have been expanding their production facilities and diversifying their product portfolios for applications in different segments to increase their presence in the Asia-Pacific region.
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Players such as BASF (Germany), DuPont (US), Kemin (US), ADM (US), and DSM (The Netherlands) have a strong presence in the Americas and the Asia Pacific regions. These companies are constantly strategizing their growth plans to expand their operations in the food antioxidants market.