Food Antioxidants Global Market Report 2024: Insights, Growth, Trends and Detailed Forecast
Food Antioxidants Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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What are the Current Growth Rates and Future Projections for the Food Antioxidants Market?
The food antioxidants market has been experiencing strong growth in recent years. The industry which is projected to grow from a value of $1.83 billion in 2023 to $2 billion in 2024, boasts a compound annual growth rate CAGR of 9.7%. The factors contributing to these significant figures during the historical period predominantly include food shelf life extension, a rise in consumer health awareness, food industry growth, and the emerging trends of natural and clean food labels, along with advancements in food preservation techniques.
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What is the Expected Future Growth of the Food Antioxidants Market?
Factoring in continued interest in clean label and natural ingredients, the recognition of health and wellness by consumers, globalization of food trade, improvements in food safety and preservation, and increased usage in the meat and poultry processing industries, the food antioxidants market size is predicted to see momentous growth in the next few years. The projection is for the market value to surge to $3 billion in 2028 at a CAGR of 10.6%.
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What are the Key Drivers of the Food Antioxidants Market?
The growth in the food antioxidants market could be largely attributed to the broad application of these antioxidants in preserving the shelf life of processed food products. The antioxidants industry has often been employed in the food processing sector to prevent oxidation and improve overall quality, from its flavor, aroma, and color. Moreover, antioxidants have also been regarded as valuable in treating various diseases, including critical illnesses like cancer and coronary heart disease.
Who are the Key Players in the Food Antioxidants Market?
Major industry players contributing to the food antioxidants market growth include Archer-Daniels-Midland Company, BASF SE, Koninklijke DSM N.V, Kemin Industries Inc., Eastman Chemical Company, Frutarom Ltd., Barentz International B.V., Camlin Fine Sciences Ltd., Kalsec Inc., E.I. Du Pont De Nemours and Company, Cargill Inc., Advanced Organic Materials SA, VDH Chem Tech Pvt. Ltd., Vitablend Nederland BV, International Flavors & Fragrances Inc., De Nederlandse Staatsmijnen Co., DuPont de Nemours Inc., Naturex SA, Ajinomoto Co. Inc., Chr. Hansen Holding A/S, Yasho Industries Ltd., Givaudan SA, Global Specialty Ingredients M Sdn. Bhd., Riken Vitamin Co. Ltd., Zhengzhou Sigma Chemical Co. Ltd., Fenchem Biotek Ltd., Sumitomo Chemical Co. Ltd., Garuda International Inc., Döhler Group, and Palsgaard A/S.
How is the Food Antioxidants Market Segmented?
The food antioxidants market report explores the following segments:
1 By Type: Natural, Synthetic
2 By Form: Dry, Liquid
3 By Source: Fruits and Vegetables, Oils, Spices and Herbs, Botanical Extracts, Gallic Acid, Other Sources
4 By Application: Fats and Oils, Prepared Foods, Prepared Meat and Poultry, Seafood, Bakery and Confectionery, Plant Based Alternatives, Nutraceuticals, Other Applications
Which Regions are Leading in the Food Antioxidants Market?
In 2023, the Asia-Pacific held the largest regional share in the food antioxidants market. The region is also predicted to be the fastest-growing in the forecast period. The broad geographical coverage in the report includes Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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