Abstract oxidation is one of the most common problems within the food industry, as it reduces the shelf life of fresh products by a considerable margin. In order to address this unavoidable problem, food manufacturers have increasingly started adding antioxidants to stabilize free radicals and enhance color stability. While there is a host of synthetic antioxidants available, the demand for natural antioxidants to prevent oxidation damage, particularly in the meat sector, is expected to witness considerable growth during the assessment period. This is projected to drive the antioxidant market during the forecast period. Moreover, looming skepticism over synthetic antioxidants is largely due to its catastrophic effects on human health.
Research and development activities are exploring the possibilities of including natural antioxidants by using herbs, spices, fruits, vegetable extracts, etc., especially within the meat industry. While the adoption of anti-oxidants in food and food additives is expected to grow at a substantial pace, the demand for antioxidants for use in other applications, including pharmaceuticals, personal care, rubber & latex, plastic additives, and fuel additives is expected to grow at a steady pace during the forecast period (2019-2027). Due to these factors coupled with the growing demand for construction & architectural coatings, industrial & protective coatings, and significant growth of the automotive sector, especially in the Asia Pacific region, the global antioxidant market is expected to reach ~US$ 5.7 Bn by the end of 2027.
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Stakeholders Explore Potential of Plant-based Extracts as Antioxidant Additives
Due to mounting concerns over the use of synthetic antioxidants in the food industry, natural antioxidants are being preferred. Research and development activities are expected to focus on discovering alternative natural antioxidants that can be utilized within the food industry. Research has confirmed that the phenolic compounds present in plants exhibit antioxidant properties. The quantity and profile of phenolic compounds extracted from plants primarily depend on a host of factors, including climate, cultivar, and species.
As these phenolic compounds also exhibit antioxidant behavior, such as the capability to chelate metals and capture the free radicals, have encouraged research in this field. In addition, phenolic compounds also play an important role in preventing and delaying auto-oxidation, which, in turn, has attracted significant attention toward plant-based antioxidants. Apart from these factors, another major factor that is anticipated to provide a boost to the adoption of natural antioxidants in the food industry is the promising results derived from research activities, which suggest that the antioxidant activity in fruits and vegetables could improve management of diseases related to oxidative stress. Food manufacturers are also inclining toward fortifying functional foods, dietary supplements, and functional foods with antioxidants due to the ascending consumer demand– a trend that is likely to continue over the course of the forecast period and trigger the growth of the antioxidant market.
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Soaring Demand for Use in Pharmaceuticals and Personal Care Products to Aid Market Growth
While the food industry continues to open up an array of opportunities, stakeholders in the current antioxidant market landscape are expected to concentrate on the opportunities within the pharmaceutical & personal care products application segment. Traditionally, antioxidants are regarded as one of the most crucial cosmeceuticals that have proven their capabilities to restrict cellular damage. In addition, antioxidants continue to gain popularity as an essential compound with a proven track record of reducing aging of the skin and providing protection against toxic free radicals.
While antioxidants provide significant benefits to the skin, stakeholders operating in the current antioxidant market are expected to focus on research and development activities to address the challenges pertaining to the undesirable physicochemical properties of antioxidants, including excessive hydrophilicity, chemical instability, and lipophilicity, among others, which hinder penetration to deeper layers of the skin. In their pursuit to overcome this challenge and improving the efficacy of antioxidants, particularly in the cosmeceutical sector, stakeholders are leaning toward deploying delivery carriers. Investments are expected to flow to leverage delivery carriers to improve the overall efficacy of antioxidants. Some of the delivery carriers that are expected to find application in the antioxidant market during the forecast period, include lipidic systems, polymeric systems, vesicular systems, etc.
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