Antioxidants Market Overview
Global Antioxidants Market was valued at $2,923 million in 2015 and is expected to reach $4,531 million by 2022, registering a CAGR of 6.42% during the forecast period. Antioxidants are used as vitamin supplements in pharmaceutical industry and help in preserving food products. The global antioxidants market is poised to witness significant growth during the forecast period owing to decrease in their costs, increase in investment & product approval by regulatory authorities, and increase in their demand in the food & beverage industry. In addition, developed economies have discovered new growth opportunities by shifting their focus on natural antioxidants such as rosemary extract. Conversely, Asia-Pacific is expected to show growth in the demand for synthetic antioxidants during the forecast period.
Primary Respondents Split
Natural antioxidants market has been categorized into four types-rosemary extract, vitamin A, vitamin C, and vitamin E; while synthetic antioxidants comprise three types-butylated hydroxyanisole (BHA), butylated hydroxytoluene (BHT), and others. Synthetic antioxidants segment is projected to dominate during the forecast period. .
The European and North American antioxidants markets are expected to offer lucrative growth opportunities during the forecast period. Increase in pre-aging problems, health issues due to antioxidants deficiency, and food safety concerns drive the antioxidants market in Africa and Asia-Pacific. Even though, U.S. and China contributed major revenue share, China monopolized in vitamin C production.
Antioxidants market is segmented based on type and geography. By type, it is subcategorized into natural that includes vitamin A, vitamin B, vitamin C, and rosemary extract and synthetic antioxidants, which comprises butylated hydroxyanisole (BHA), butylated hydroxytoluene, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Porter’s Five Forces Analysis
Owing to the presence of high number of suppliers of natural antioxidants in the market, the bargaining power of the suppliers remains moderate. However, higher number of buyers results in increased bargaining power of buyers. Since, natural antioxidants are expensive as compared to synthetic antioxidants, the threat of substitutes is low at present. However, the market players experience high rivalry due to the presence of several startups as well as established companies.
Top Impacting Factors
1. Growth in demand for food & beverages, animal feed additive, and pharmaceuticals
Antioxidants in food & beverage industry are primarily used as preservatives. However, exponential increase in the global population is expected to increase its demand in other industries such as pharmaceutical and animal fodder. Asia-Pacific has high number of undernutrition cases, resulting in high demand for antioxidants supplements. Moreover, farmers are being encouraged to feed fodder with antioxidants, to their cattle to enhance their milk yield
2. Increase in demand for rosemary extract
Companies have shifted their focus on rosemary extract as it has more antioxidant content than others, provides longer shelf life, and prevents premature aging; consequently, it has witnessed an increase in demand. In fact, many companies in U.S. have made substantial investments for the development of antioxidant medicines.
Top Winning Strategies
The key players in the global antioxidants market have adopted acquisitions, agreements, product launch, and partnerships as their key business strategies.
Antioxidants Market, Top Winning Strategies, 2012-2016* (%)
The rise in awareness regarding health benefits associated with antioxidants coupled with nutrient deficiency in the region has catalyzed the market growth. The antioxidant market in LAMEA is anticipated to grow with a CAGR of 6.50% between 2016 and 2022, while the Middle East market is anticipated to witness a CAGR of 6.73%.
Middle East Antioxidants Market Size, 2014-2022 ($Million)
The key players in the antioxidants industry include Archer-Daniels-Midland Company, BASF SE, E.I.DuPont El Nemours and Company, Barentz International BV, Kalsec Inc., Kemin Industries, Inc., Koninklijke DSM N.V., Nutreco N.V., Cargill Incorporated, Aland (Jiangsu) Nutraceutical Co. Ltd., and Naturex S.A.
Other prominent antioxidants industry players (not profiled in this report) are DSM, Prinova, Tianjin Jianfeng Natural Products Co. Ltd, Indena SPA, Ajinomoto Omnichem Specialties, Vitablend Nederland B.V., Jet-Mate Canada Inc., Emarald Performance Materials, Adeka Palmarole, Xinier Chemical Technology Ltd, and Nanjing Union Rubber Chemicals Co. Ltd
ANTIOXIDANTS MARKET KEY BENEFITS:
- This antioxidants market report gives a detailed analysis about dynamic changes undergoing in global along with antioxidants market share.
- This report provides deep insights about the various opportunities present in global antioxidants market.
- Report details about the positioning of the global antioxidants market growth in different geographical segments.
- This report entails the detailed quantitative analysis of current market and estimations through 2016-2022, that assist in identifying the prevailing market opportunities to capitalize on the global antioxidants market.
- Comprehensive analysis on factors that are driving and restraining growth of global antioxidants market is included.
- Competitive intelligence of leading manufacturers and distributors of antioxidants mentioned in report helps in understanding the competitive scenario across the geographies.
ANTIOXIDANTS MARKET KEY SEGMENTATION:
- Natural Antioxidants
- Rosemary Extract
- Vitamin A
- Vitamin C
- Vitamin E
- Synthetic Antioxidants
- Butylated Hydroxy anisole (BHA)
- Butylated Hydroxytoluene (BHT)
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
- Rest of LAMEA