As per Market Research Future (MRFR) analysis, the global natural antioxidants market size is estimated to reach approximately USD 1.3 billion, with a CAGR of 5.7% from 2019 to 2024 (forecast period). The report presents a cumulative summary of the COVID-19 analysis on the global natural antioxidants market to provide the latest insight into the current market dynamics. The report includes projections, analysis, and discussion of significant trends in the industry, market size, market share forecasts, and profiles of key industry players.
Antioxidants are substances that defense system of the body against the damage done by reactive oxygen species. These antioxidants are either synthetically or naturally generated. Natural antioxidants are mainly obtained from fruit, vegetables, herbs, and spices, among others. There has been a growing trend to replace synthetic products with natural products in order to avoid possible adverse effects caused by synthetic compounds.
Market Dynamics
Increased use of natural antioxidants is a major driver of the growth of the natural antioxidants market. Growing consumer understanding of health and their inclination towards a balanced diet is contributing to a rise in the demand for natural ingredients in food & beverages. This has influenced food producers to adopt natural antioxidants in their products. Furthermore, there is a rising demand for natural cosmetics, which increases the use of natural antioxidants in the cosmetics industry.
Key Players
Some of the major participants in the global natural antioxidants market are DowDuPont (US), Archer Daniels Midland Company (US), BASF SE (Germany), Koninklijke DSM N.V. (Netherlands), Adisseo (China), Frutarom Industries Ltd. (Israel), Chr. Hansen Holding A/S (Denmark), Prinova Group LLC. (US), Ajinomoto Co. Inc. (Japan), and Kalsec Inc. (US).
Segmentation
The global market for natural antioxidants has been segmented based on type, form, application, and region.
Based on type, the global market for natural antioxidants has been classified as vitamin C, vitamin E, carotenoids, rosemary extract, and others. Vitamin C held the largest market share in 2014 as it is commonly used in pharmaceutical, food, beverage, and feed applications. In addition, the non-toxicity of vitamin C has resulted in extensive use as pharmaceutical supplements. Vitamin E is mainly used in animal feed applications.
Based on the form, the global market for natural antioxidants has been classified as dry and liquid.
Based on the application, the global market for natural antioxidants has been classified as food & beverages, animal feed, personal care, and others. The segment for food & beverages has been further divided into dairy & frozen desserts, bakery & confectionery, sweet and savory snacks, beverages, and others.
The global natural antioxidants industry has been segmented into four key regions—North America, Europe, the Asia Pacific, and the rest of the world.
North America is expected to lead the global market for natural antioxidants in the forecast period. The US is predicted to be the most significant contributor to the natural antioxidant industry in the region. The rising demand for natural and organic products among the US population is a major driver of the North American market for natural antioxidants.
Europe also holds a substantial share of the global economy. The attraction of food and cosmetic manufacturers to natural ingredients in this region is contributing to the rise in the market for natural antioxidants in the European region.
Asia Pacific is expected to be the fastest-growing regional market in the forecast era. Rising awareness of natural foods, followed by the growth of the food & beverage industry in emerging countries, is predicted to propel the growth of the natural antioxidants market in the Asia Pacific. In addition, increasing the use of natural antioxidants in livestock feed will accelerate the demand of the Asian Pacific market.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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