AntioxidantsMarket: Introduction
Interms of value, the global antioxidants market is anticipated to expand at a CAGR of 5% from 2019 to 2027.Antioxidants prevent damage to free radical-induced tissues by preventingformation of radicals, promoting their decomposition, or by scavenging them.Damage to cells affected by free radicals plays a central role in the agingprocess and disease progression. Antioxidants are used as a defense against thefree radical damage. The demand for antioxidants in the food & feedindustry is increasing rapidly across the globe. This has resulted in extensiveusage of numerous types of antioxidants in food & feed production.
Rise in Adoption of Antioxidants for Meat Products
Risein consumption of meat in various developed and developing countries is a keyfactor anticipated to propel the demand for natural antioxidants in the globalmeat industry during the forecast period. Increase in demand for ready-to-eatmeat products, owing to their high protein content, is one of the prominentfactors driving the global antioxidants market. Furthermore, increase in percapita income in developing countries and rise in demand for frozen meatproducts, especially among the working population, are estimated to augment theglobal meat market during the forecast period. This, in turn, is projected toaugment the antioxidants market.
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Preferencefor Natural Antioxidants
Basedon product, the global antioxidants market has been bifurcated into natural andsynthetic. The natural segment is expected to expand at a CAGR of 5.4% duringthe forecast period. Natural antioxidants are primarily preferred for diseaseprevention. These antioxidants are categorized into four types: vitamin A,vitamin C, vitamin E, and rosemary extract. Natural antioxidants contain activecompounds, which use antioxidative potential in meat products. The antioxidantaction takes place, owing to the presence of synthetic acids, synthetic diterpenes,and flavonoids & volatile oils. Natural antioxidants are primarilydistributed in medicinal and food plants. Natural antioxidants, particularlycarotenoids and polyphenols, exhibit various biological effects, includinganti-aging, anti-inflammatory, anticancer, and anti-atherosclerosis. The properassessment and effective extraction of antioxidants from medicinal and foodplants plays an important role in exploring potential antioxidant foundationsand promoting applications in pharmaceuticals, functional foods, and foodadditives.
Rubber& Latex Additives to be Major Application Area of Antioxidants
Basedon application, the global antioxidants market has been segregated into food& feed additives, pharmaceutical & personal care products, plastic additives,rubber & latex additives, fuel & lubricant additives, and others(including inks, paints & coatings, adhesives & sealants, metallurgy).The rubber & latex additives segment accounted for more than 30% share ofthe global antioxidants market in 2018.Antioxidants are chemicals that help protect rubber articles against attackfrom oxygen. This is a key factor expected to increase the adoption ofantioxidants in the rubber & latex industry.
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AsiaPacific to be Lucrative Region of Antioxidants Market
Interms of consumption, Asia Pacific dominated the global antioxidants marketin 2018. Themarket in the region is expected to expand at a rapid pace from 2019 to 2027. Rapidurbanization, rise in consumption of pharmaceutical products, expansion inconstruction and infrastructure industries, strong economic growth, and growthin meat consumption are major macroeconomic factors that are projected to fuelthe demand for antioxidants in the near future. Increase in consumption ofantioxidants in applications in plastic and rubber industries is also estimatedto drive the market in Asia Pacific. The rubber & latex additives segmentin Asia Pacific, particularly in India and China, is likely to witness moderategrowth in consumption of antioxidants in the next few years. In terms ofconsumption, North America is expected to be a vital region of the global antioxidantsmarket during the forecast period
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CompetitionLandscape
Theglobal antioxidants market was highly fragmented in 2018, with numerousmanufacturers operating in the market. SONGWON Industrial Group, BASF SE,Solvay S.A., Clariant AG, ADEKA Corporation, and Evonik Industries AG are theleading companies that accounted for more than 70% share of the market in 2018.Manufacturers operating in the global antioxidants market include SONGWON Industrial Group,BASF SE, Solvay S.A., Clariant AG, ADEKA Corporation, Evonik Industries AG, 3VSigma USA Inc., Rianlon Corporation, Everspring Chemical Co., Ltd., SI Group,Inc., Oxiris Chemicals S.A., Dover Chemical Corporation, Double Bond ChemicalInd. Co., Ltd., TAIWAN DYESTUFFS & PIGMENTS CORP., Beijing TiangangAuxiliary Co., Ltd., Dalian Richfortune Chemicals Co., Ltd., and ChitecTechnology Co., Ltd.
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