The global market size for food antioxidants was USD 1.37 billion in 2021, and it is projected to grow at a revenue CAGR of 6.1% during the forecast period. The primary driving factor behind this growth is the increasing adoption of food antioxidants across the food and beverages industry globally to increase shelf life.
Another driving factor for market growth is the increasing awareness of the benefits of healthy and nutritious food. Antioxidant-rich diets are known to lower the risk of various illnesses such as heart disease and cancer. Antioxidants remove free radicals from cells in the body and prevent damage due to oxidation.
For example, dark chocolate contains more cocoa, minerals, and antioxidants than conventional chocolate, making it healthier. Cocoa and dark chocolate antioxidants offer health benefits such as reduced inflammation and decreased risk factors for heart disease. People who consume lycopene, an antioxidant found in red fruits and vegetables such as tomatoes, apricots, pink grapefruit, and watermelon, have a lower risk of prostate cancer.
Lutein, found in spinach and maize, reduces the risk of age-related eye lens degeneration and vision loss in the elderly. Spinach is an excellent source of antioxidants and vitamins, with 3.5 ounces (100 grams) containing up to 0.9 mmol of antioxidants. Flavonoids found in apples, grapes, citrus fruits, berries, tea, onions, olive oil, and red wine help to prevent cancer and metabolic disorders. All of these factors contribute to the significant revenue growth of the food antioxidants market.
Market dynamics
Increasing demand for processed food
The food antioxidants market is experiencing revenue growth driven by the rising demand for processed food due to changing lifestyles and the growing awareness of protein-rich diets. Antioxidants are commonly used dietary additives to prevent heart disease, cancer, cataracts, memory loss, and other diseases in various processed foods like morning cereals, sports bars, energy drinks, and other processed foods. Antioxidants are widely used in the food industry to increase the shelf life of food products.
Natural antioxidants from food and medicinal plants, such as carotenoids and polyphenols, have various biological effects, such as anti-inflammatory, anti-aging, anti-atherosclerotic, and anti-cancer effects, and help to improve the shelf life of bakery products, snacks, and other packaged food items.
The increasing adoption of antioxidants in poultry and meat products is another significant factor driving market revenue growth. Antioxidants such as Butylated Hydroxyanisole (BHA), Butylated Hydroxytoluene (BHT), and tocopherols are added to food products to prevent changes in flavor and color caused by exposure to oxygen in the air. These compounds delay rancidity in fats, sausages, and dried meats, and also protect some of the natural nutrients found in food, such as vitamin A. Antioxidants are used as a preventive measure in the livestock and food industries.
The rising demand for synthetic antioxidants is another driving factor for revenue growth in the food antioxidants market. Synthetic food antioxidants like Tert-Butylhydroquinone (TBHQ), Butylated Hydroxyanisole (BHA), Butylated Hydroxytoluene (BHT), and Propyl Gallate (PG) are chemically created and added to food products as preservatives to prevent lipid oxidation, which can cause rancidity and spoilage. These pure substances are added to food products to increase their shelf life and help them tolerate different treatments and circumstances.
High doses of antioxidant supplements negatively affect health
The food antioxidants market is facing a hindrance due to the negative impact of antioxidant supplements at high doses on health. For example, high doses of beta-carotene supplementation increase the risk of lung cancer in smokers, and high doses of vitamin E supplementation increase the risk of prostate cancer and hemorrhagic stroke. In addition, natural dietary antioxidants like mixed tocopherols and vitamin C are expensive due to the high cost of raw materials.
Market Dynamics
Market Drivers
Rising Demand for Food Products With An Extended Shelf Life
Increasing Usage of Natural Antioxidants in Meat & Poultry
Rising Consumption of Processed Food Among People
Market Restraints
Limited Awareness Regarding the Benefit of Food Antioxidants
Increasing Packaging Costs Owing to Multi-Page Labeling
Key Takeaways
Source Insights
The global food antioxidants market has been divided into several segments based on source, type, application, and form. The fruits & vegetables segment is expected to have a significant revenue share over the forecast period because fruits and vegetables are excellent sources of antioxidants, such as vitamin C, vitamin E, and selenium, which help to counteract free radicals and lower the chance of developing chronic illnesses.
Type Insights
In terms of type, the natural antioxidants segment is projected to have a significant revenue growth rate over the forecast period. Natural antioxidants are found in foods and medicinal plants, and the majority of them are phenolic, which are present in all parts of plants, such as fruits, vegetables, nuts, seeds, leaves, roots, and bark.
Application Insights
The application segment of bakery confectionery is expected to have a major revenue share in 2021, as natural antioxidants are becoming more popular, especially in baked goods, and are used to extend the shelf life of bakery goods.
Form Insights
Lastly, the dry segment is expected to have a significant revenue growth rate over the forecast period. Dry fruits, such as almonds, are rich in nutrients and have several therapeutic benefits, such as reducing the chance of acquiring heart disease, cancer, and Alzheimer's disease.
Regional Insights
The Asia Pacific region dominated the global food antioxidants market in 2021, largely due to the increasing demand from food manufacturers in developed countries to shift their production facilities to developing economies where establishment and production costs are low, and labor is readily available. This trend, coupled with the rising demand for natural and synthetic food antioxidants for manufacturing different food products, has driven the market revenue growth in the region.
High consumption and production of processed food and increasing awareness about healthy food items in countries like India and China are also contributing to the growth of the market in this region. For instance, on 12 October 2022, Cargill, Unitec Foods, and Fuji Nihon Seito Corporation signed a Memorandum of Understanding (MoU) to increase their collaboration in the development and marketing of food ingredient solutions in Japan and the rest of Asia Pacific countries.
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Global Food Antioxidants Market Segmentation & Impact Analysis
Chapter 5. Global Food Antioxidants Market By Source Insights & Trends
Chapter 6. Global Food Antioxidants Market By Type Insights & Trends
Chapter 7. Global Food Antioxidants Market By Application Insights & Trends
Chapter 8. Global Food Antioxidants Market By Form Insights & Trends
Chapter 9. Global Food Antioxidants Market Regional Outlook
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