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The Antioxidant Market is projected to grow by USD1.53 billion with a CAGR of 6.46% during the forecast period 2021 to 2026.
This antioxidant market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the antioxidant market segmentation by application (food and beverages, pharmaceuticals, personal care, and animal feeds), type (vitamin c-based, vitamin e-based, polyphenols-based, and carotenoids-based), and geography (APAC, North America, Europe, the Middle East and Africa, and South America). The antioxidant market report also offers information on several market vendors, including 3V Sigma USA Inc., ADEKA Corp., Archer Daniels Midland Co., Barentz International BV, BASF SE, Beijing Tiangang Auxiliary Co. Ltd., BIOTECNOLOGIAS APLICADAS SL, Bluestar Adisseo Co., Cargill Inc., Chitec Technology Co. Ltd., Clariant AG, Double Bond Chemical Ind. Co. Ltd., Dover Chemical Corp., Du Pont De Nemours Inc., Eastman Chemical Co., Everspring Chemical Co. Ltd., Evonik Industries AG, IMCD NV, Kalsec Inc., Kemin Industries Inc., Koninklijke DSM NV, Oxiris Chemicals SA, SI Group Inc., Solvay SA, and Taiwan Dyestuffs & Pigments Corp. among others.
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The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the global antioxidant market.
Key Antioxidant Market Driver
The rising demand from the personal care industry is a key factor driving the global antioxidant market growth. Antioxidants, predominantly natural antioxidants, work by reversing or preventing free radicals from causing oxidative stress. Free radicals damage the structure of the skin and genetic material, which leads to inflammation that disrupts the skin's regularly scheduled self-repair systems. Eventually, this leads to hyperpigmentation, acne, and cell damage that results in wrinkles. Excess exposure to sunlight, pollution, environmental toxins, tobacco, and stress also contributes to the proliferation of free radicals. Therefore, antioxidants work by scavenging atoms to lose free radicals or electrons so that they cannot cause cell damage. Antioxidants help correct signs of aging, repair skin, and brighten skin tone. Some antioxidants, such as vitamin C, can also stimulate collagen production, which is vital for youthful skin. Consumers are also concerned about various skin issues such as aging, wrinkles, and acne, which is expected to drive the adoption of skincare products that contain natural antioxidants, and will foster the growth of the global antioxidant market during the forecast period.
Key Antioxidant Market Trend
The rising adoption of new extraction techniques will fuel the global antioxidant market growth. To overcome the limitations of conventional extraction methods, new and promising extraction techniques have been introduced for the extraction of antioxidants, notably from natural resources. These techniques are referred to as non-conventional extraction techniques. Some of these techniques are ultrasound-assisted extraction, pulsed electric field extraction, enzyme-assisted extraction, microwave-assisted extraction, pressurized liquid extraction, supercritical fluid extraction, pressurized low-polarity water extraction, and molecular distillation. The extraction of valuable compounds from plant by-product processing industries using such techniques offers several advantages, which include a reduction in the processing time and energy consumption, as well as the elimination of the use of harmful and expensive solvents and an increase in the extraction yield. Such factors have driven the adoption of new extraction techniques, thereby will increase the production of antioxidants during the forecast period.
Key Antioxidant Market Challenge
The high cost of production is the major challenge to the global antioxidant market growth. The raw materials from which antioxidants are extracted are relatively costly. This eventually leads to an increase in the cost of the final product. For instance, the cost of producing tocopherol, which belongs to the family of vitamin E compounds, has increased in recent years. This is due to the limited supply of vegetable oils. Tocopherol is manufactured from vegetable oil, whose limited supply is attributed to the high consumption of vegetable oil in numerous other industries, including food and beverage. In addition, vegetable oil is also used for cooking purposes. Subsequently, the price of vegetable oil has also increased. Thus, the rise in the price of vegetable oils will affect the cost of antioxidants such as vitamin E. The extraction of antioxidants is expensive, as there is no single standard procedure for the extraction of natural antioxidants. Recent technologies such as high hydrostatic pressure, microwave, and ultrasound usually require higher investment costs. Such factors increase the overall price of natural antioxidants. This will negatively impact market growth during the forecast period.
This antioxidant market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global antioxidant market as a part of the global diversified chemicals market within the global chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the antioxidant market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the antioxidant market encompasses successful business strategies deployed by the key vendors. The antioxidant market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position, and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.
Our In-house experts produce extensive information on the value chain and parent market of the antioxidant market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also the optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
The value chain of the global chemicals market includes the following core components:
The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.
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55% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the antioxidant market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rising demand from the personal care industry will facilitate the antioxidant market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The COVID-19 pandemic hindered the overall growth of the antioxidant market in APAC in 2020. Several countries in APAC, such as India, China, and Japan, imposed lockdowns in the first half of 2020 to contain the spread of the disease. It resulted in the closure of manufacturing facilities in several end-user industries, including personal care and pharmaceuticals, in the first half of 2020. However, in Q3 of 2020, several vendors of the end-user industries adjusted their strategies to promote their products. This, in turn, assisted the growth of the market in focus further, thereby overcoming the pandemic's negative effects in 2020. Additionally, the initiation of vaccination drives in APAC in 2021 resulted in the easing of lockdown restrictions in APAC countries, which, in turn, enabled end-user production units to resume operations and will lead to the growth of the antioxidant market in APAC during the forecast period.
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The antioxidant market share growth in the food and beverages segment will be significant during the forecast period. In the F&B industry, antioxidants have a dual role; they act as nutrients as well as product improvers in terms of food quality. The quality of food undergoes deterioration, which leads to spoilage and off-flavor issues. This is primarily due to the oxidation of food. Antioxidants are widely adopted to stop or prevent the oxidation of food and to increase the shelf life of food products. For example, antioxidants such as butylated hydroxy anisole (BHA), butylated hydroxytoluene BHT, tertiary butylhydroquinone (TBHQ), and others are increasingly used in beverages to enhance their shelf life. They are also used to improve flavor stability. All these factors are expected to fuel the growth of the global antioxidant market in the food and beverages segment during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the antioxidant market size and actionable market insights on the post-COVID-19 impact on each segment.
Antioxidant Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.46% |
Market growth 2022-2026 |
$1.53 billion |
Market structure |
Fragmented |
YoY growth (%) |
6.05 |
Regional analysis |
APAC, North America, Europe, the Middle East and Africa, and South America |
Performing market contribution |
APAC at 55% |
Key consumer countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
3V Sigma USA Inc., ADEKA Corp., Archer Daniels Midland Co., Barentz International BV, BASF SE, Beijing Tiangang Auxiliary Co. Ltd., BIOTECNOLOGIAS APLICADAS SL, Bluestar Adisseo Co., Cargill Inc., Chitec Technology Co. Ltd., Clariant AG, Double Bond Chemical Ind. Co. Ltd., Dover Chemical Corp., Du Pont De Nemours Inc., Eastman Chemical Co., Everspring Chemical Co. Ltd., Evonik Industries AG, IMCD NV, Kalsec Inc., Kemin Industries Inc., Koninklijke DSM NV, Oxiris Chemicals SA, SI Group Inc., Solvay SA, and Taiwan Dyestuffs & Pigments Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
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