The latest market report published by Credence Research, Inc. “Global Antioxidant Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2023,” the Global Antioxidant market was valued at USD 2329.7 Mn in 2015, and is expected to reach USD 3.512 Mn by 2023, expanding at a CAGR of 5.4% from 2016 to 2023.
Browse the full report Global Antioxidant Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2023 at https://www.credenceresearch.com/report/antioxidant-market
Antioxidants are molecule which inhibits the oxidation of other substance, thus reducing the damage that is caused due to oxygen. The effect of free radical is neutralized by them and prevent the oxidation reaction by oxidizing themselves. There are two types of antioxidants; natural and artificial antioxidant. Antioxidant has application in different industry such as pharmaceutical, food and beverage, animal feed, cosmetic industry etc. The varied industrial application of antioxidants is the major driving factor of antioxidants market. Antioxidant is used in food industry to prolong the shelf life of food by preventing oxidation, also to prevent rancidity and color change. Antioxidant are used in cosmetic industry to prevent aging, by avoiding damage to the cells. Now-days, various factor such as pollution, dust, lifestyle along with age causes premature ageing, which act as major driver for the antioxidant. The shifting trend towards more conscious healthy lifestyle and use of organic substance are boosting the demand for antioxidant market.
Antioxidants are of two type; Natural Antioxidants and Synthetic Antioxidants. Synthetic antioxidant occupies the major share in the antioxidant market, though natural antioxidant depict bright future due to trend in using natural products and awareness about healthy life style. The developed countries are shifting towards the natural substitutes, while the emerging economies are driven by synthetic antioxidants.
Based on the type of Products, the Global Antioxidants Market is segmented as follows:
- Natural Antioxidant
- Vitamin C
- Vitamin E
- Vitamin A
- Synthetic Antioxidant
Based on the type of Application, the Global Antioxidants Market is segmented as follows:
- Food and beverage
- Feed Additive
As of the current market scenario, APAC is the largest regional market for antioxidant technology, followed by the North America and Europe. The emerging economies are accelerating market due to increasing disposable income, shifting trend to use natural products and health concern. In developing countries, India and China witness the major growth. The driving factor for North America and Europe is growing health concern, rise in demand for anti-aging products and usage of natural antioxidant.
Market Competition Assessment:
Key players in the global Antioxidant systems market are AkzoNobel NV, Adeka Corp, Aland (Jiangsu) Nutraceutical Co Ltd, Archer-Daniels-Midland Company, Albemarle Corp, BASF SE, Cargill Incorporated, Chemtura Corp, DuPont, Kalsec Inc, Kemin Industries Inc , Koninklijke DSM N.V. ,Naturex S.A., Naturex S.A., Songwon Industrial Co.Ltd , Vitablend Nederland B.V.
Key Market Movements:
- Rise in conscious effort and awareness of healthy lifestyle
- Increase in geriatric patient and usage of anti-aging product
- Use of antioxidant product in food and beverage industry
- Inclination towards usage of organic personal product
- Surge in demand of antioxidant in animal feed
- Increase in use of antioxidant in pharmaceutical industry