AntioxidantsMarket: Introduction
Interms of value, the global antioxidants market is anticipated to expand at a CAGRof 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.
Risein 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
Based on product,the global antioxidants market has been bifurcated into natural and synthetic.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, syntheticditerpenes, and flavonoids & volatile oils. Natural antioxidants areprimarily distributed in medicinal and food plants. Natural antioxidants,particularly carotenoids and polyphenols, exhibit various biological effects,including anti-aging, anti-inflammatory, anticancer, and anti-atherosclerosis.The proper assessment and effective extraction of antioxidants from medicinaland food plants plays an important role in exploring potential antioxidantfoundations and promoting applications in pharmaceuticals, functional foods,and food additives.
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Rubber& Latex Additives to be Major Application Area of Antioxidants
Based onapplication, 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% shareof the global antioxidants market in 2018. Antioxidants arechemicals that help protect rubber articles against attack from oxygen. This isa key factor expected to increase the adoption of antioxidants in the rubber& latex industry.
AsiaPacific to be Lucrative Region of Antioxidants Market
In terms ofconsumption, Asia Pacific dominated the global antioxidants market in 2018. Themarket in the region is expected to expand at a rapid pace from 2019 to2027. Rapid urbanization, rise in consumption of pharmaceuticalproducts, expansion in construction and infrastructure industries, strongeconomic growth, and growth in meat consumption are major macroeconomic factorsthat are projected to fuel the demand for antioxidants in the near future. Increasein consumption of antioxidants in applications in plastic and rubber industriesis also estimated to drive the market in Asia Pacific. The rubber & latexadditives segment in Asia Pacific, particularly in India and China, is likelyto witness moderate growth in consumption of antioxidants in the next fewyears. In terms of consumption, North America is expected to be a vital regionof the global antioxidants market during the forecast period
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CompetitionLandscape
The globalantioxidants market was highly fragmented in 2018, with numerous manufacturersoperating in the market. SONGWON Industrial Group, BASF SE, Solvay S.A.,Clariant AG, ADEKA Corporation, and Evonik Industries AG are the leadingcompanies that accounted for more than 70% share of the market in 2018.Manufacturers operating in the global antioxidants market include SONGWONIndustrial Group, BASF SE, Solvay S.A., Clariant AG, ADEKA Corporation, EvonikIndustries AG, 3V Sigma USA Inc., Rianlon Corporation, Everspring Chemical Co.,Ltd., SI Group, Inc., Oxiris Chemicals S.A., Dover Chemical Corporation, DoubleBond Chemical Ind. Co., Ltd., TAIWAN DYESTUFFS & PIGMENTS CORP., BeijingTiangang Auxiliary Co., Ltd., Dalian Richfortune Chemicals Co., Ltd., and ChitecTechnology Co., Ltd.
