The antioxidant can be an artificial or natural molecule that inhibits oxidation of other molecules. Antioxidants naturally occur in a large number of vegetables, fruits, and foods. Beta-carotene, Lutein, Lycopene Selenium, Vitamin A, Vitamin C, and Vitamin E are important are some of the important sources of antioxidants. These antioxidants act as an inhibitor and restrict the formation of free radicals by chain oxidation reaction. Antioxidants are also called as reducing agents. Oxidation reactions are important for life; however, excessive free radicals can damage the cells in plants and animal.
According to the report, global demand for antioxidants market was valued at around USD 2.25 billion in 2014 and is expected to reach USD 3.25 Billion in 2020, growing at a CAGR of approximately 5.5% between 2015 and 2020. Zion Market Research has published a new report titled “Antioxidants (Natural, and Synthetic) Market for Pharmaceuticals, Food & Beverages Sector, Feed Additives, Cosmetics Industry, and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020.”
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The global antioxidants market is mainly driven by strong demand food & beverages and animal feed industry. Antioxidants are widely used as in food & beverages and animal feed to prolong the shelf life of these products. Antioxidants are primarily used in meat and poultry products. Pharmaceuticals and cosmetics are other important outlets for antioxidants. Strong growth of theses application market globally is expected to boost demand for antioxidants across the world. However, high-dose supplements of antioxidants may be linked to health risks in some cases. For example, high doses of beta-carotene may increase the risk of lung cancer in smokers. High doses of vitamin E may increase risks of prostate cancer and one type of stroke. Antioxidant supplements may also interact with some medicines. This is expected to affect the growth of antioxidants industry to some extent.
Antioxidants can be classified on the basis of product type such as natural and synthetic. The natural antioxidants include rosemary extracts, vitamin C (including ascorbic acid), vitamin A (including carotenoids), and vitamin E (including tocopherols and tocotrienols). The synthetic antioxidants include butylated hydroxytoluene (BHT), butylated hydroxyanisole (BHA), and others.
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Synthetic antioxidants dominated the antioxidants market with over 60% shares of the total revenue generated in 2014. Demand for synthetic is expected to exhibit CAGR of over 5.5% through the forecast period. Low prices have resulted in growing popularity of synthetic antioxidants. On the other hand, growing demand for organic products is expected to boost demand for natural antioxidants.
Antioxidants are used in various application areas such as pharmaceuticals, food & beverages sector, feed additive, cosmetic industry, etc. Strong demand from these application industries contributed to the growth of global antioxidants market. Food & beverages were the largest application market antioxidants in 2014. The cosmetics industry is another important outlet for antioxidants. Moreover, rising demand for antioxidants as an animal feed additive is also expected to boost the demand for antioxidants in the years to come.
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Global antioxidants market was dominated by the Asia-Pacific and accounted for more than 30% shares of the total market in 2014. North America was the second highest regional market for antioxidants in 2014. The antioxidants market in Europe is expected to grow at a rapid pace in the years to come. Natural antioxidants market is expected to grow at robust CAGR in Europe and North America, owing to growing demand for organic products in the region.
Some of the key players operating in global antioxidants market include Aland (Jiangsu) Nutraceutical Co., Ltd., Archer-Daniels-Midland Company, BASF S.E, Cargill Incorporated, DuPont, Kalsec Inc., Kemin Industries, Inc., Koninklijke DSM N.V., Naturex S.A., Nutreco N.V., and Vitablend Nederland B.V.