Major players in the food antioxidants market are Archer-Daniels-Midland Company, BASF SE, Koninklijke DSM N.V., Kemin Industries, Inc, Eastman Chemical Company, Frutarom Ltd, Barentz Group, Camlin Fine Sciences, Kalsec Inc, E.I. Du Pont De Nemours and Company, Cargill Inc., Advanced Organic Materials, VDH Chem Tech Pvt Ltd, and Vitablend Nederland BV.
The global food antioxidants market is expected to grow from $1.27 billion in 2020 to $1.35 billion in 2021 at a compound annual growth rate (CAGR) of 6.71%. The growth is mainly due to the increase in demand for food antioxidants, owing to rise in the consumption and demand of processed food, increasing R&D in the field shift toward natural growth promoters, and increasing awareness for healthier alternatives. The market is expected to reach $1.87 billion in 2025 at a CAGR of 8.49%.
The food antioxidants market consists of sales of food antioxidants by entities (organizations, sole traders and partnerships) that manufacture food antioxidants naturally or synthetically.Food antioxidants are the molecules which neutralize the free radicals, destabilize the molecules to protect cells from damage.
Some major food antioxidants are mainly found in fruits, vegetables, vitamins such as E and C and other plant-based foods.
The main type of food antioxidants are natural and synthetic antioxidants.They are available in dry and liquid forms.
The food antioxidants are derived from fruits and vegetables, oils, spices and herbs, botanical extracts, Gallic acid and are used in fats and oils, prepared foods, prepared meat and poultry, seafood, bakery and confectionery, plant based alternatives and nutraceuticals.
Asia Pacific was the largest region in food antioxidants market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Players in the food antioxidants market are increasingly adopting mergers and acquisition strategies to expand the product portfolio and expanding operations in different geographies.Mergers and acquisitions give growth opportunities to the players in the industry to maximize revenues through geographic and product portfolio expansion.
For instance, in April 2021, Kemin Industries a leading ingredient manufacturer acquired Proteus Industries Inc. for undisclosed amount. Through this acquisition, Kemin expects to expand its portfolio by adding clean label phosphate alternative, meat block replacement and fat block solution along with the technology and human resources that Proteus has to offer. Proteus Industries is a food ingredient manufacturer that developed clean-label protein ingredients. Also, in January 2020, Dupont, which is a leading chemicals and bioscience compay, entered into an agreement with International Flavors & Fragrances, to merge their nutrition and industrial biosciences division. This merger is expected to benefit both the companies, and allow them to better serve their customers.
In April 2021, Kemin Industries a leading ingredient manufacturer acquired Proteus Industries Inc. for undisclosed amount. Through this acquisition, Kemin expects to expand its portfolio by adding clean label phosphate alternative, meat block replacement and fat block solution along with the technology and human resources that Proteus has to offer. Proteus Industries is a food ingredient manufacturer that developed clean-label protein ingredients.
Increasing use of food antioxidants to improve the shelf life of products of the processed food supported the growth of the market in the historic period.The presence of antioxidants effectively inhibit oxidation and extend the shelf-life of food products.
For instance, according to a Food Technology and Biotechnology (FTB) study conducted in 2019, 1% of pomegranate peel extract added as natural antioxidant to beef meatballs can help in Effective prevention of rancid odor formation for up to 8 days.Additionally, 100 and 200 µg/g of olive leaf extract was added as natural antioxidant to minced beef patty can increase the shelf life for up to 12 days.
The rise in the use of food antioxidants to improve the shelf life of food products supported the growth of food antioxidants market.
The countries covered in the Food Antioxidants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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