Global Antioxidants Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Type (Natural, Rosemary Extracts, Vitamin A, Vitamin C, Others), Synthetic (Butylated Hydroxyanisole, Butylated Hydroxytoluene, Propyl Gallate, Others), By End User Industry (Food And Beverage, Pharmaceutical, Personal Care, Animal Nutrition, Others) And Geography - Forecasts From 2019 To 2024

The global antioxidants market is projected to witness a CAGR of 6.04% to reach US$1,512.698 million in 2024 from US$1,063.860 million in 2018.

Antioxidants are additives capable of delaying the oxidation in food and other products, and therefore lengthening their shelf-life. They are widely used in food and beverages and animal feeds so as to preserve nutritional value and develop sustainable animal protein production. It is widely used in pharmaceutical products as it prevents or slows the damage to cells by free radicals. The use of antioxidants in cosmetics protects the skin cells from being damaged and slows down the aging process.

The growing awareness regarding the health benefits of antioxidants is leading to an increase in its demand in the food and beverage, pharmaceuticals, and cosmetics industry which is driving the global antioxidants market growth. The market is expected to grow at a steady pace owing to its growing penetration in the plastic and nutraceuticals industry. Antioxidants protect plastics against thermally induced oxidation. Stringent government regulations related to antioxidants, particularly synthetic antioxidants can hamper the market growth to some extent.

By type, the synthetic antioxidants segment is expected to dominate the market share. The natural antioxidants market is also expected to grow as they are presumed to be safer. By geography, the North American and European markets are projected to have significant market share due to greater demand for products containing antioxidants. By end-user industry, the food and beverage industry is expected to have a significant market share.

DRIVERS
Growing awareness regarding the health benefits of antioxidants
Growing demand for processed food and beverages
Use of antioxidants in the plastics and nutraceuticals industry

RESTRAINTS
Stringent government regulations related to antioxidants

INDUSTRY UPDATE
In January 2019, BASF opened the first phase of its new antioxidants manufacturing plant in Shanghai which will produce antioxidants and associated forms and blends for the plastic additives market.
DSM, a global science-based company in nutrition, health, and sustainable living announced in January 2019 that it intended to create a 75/25 joint venture with Nenter & Co, which would include all of Nenter’s production and related assets for Vitamin E.

SEGMENTATION

The global antioxidants market has been analyzed through the following segments:

By Type
Natural
Rosemary Extracts
Vitamin A
Vitamin C
Others

Synthetic
Butylated hydroxyanisole (BHA)
Butylated hydroxytoluene (BHT)
Propyl Gallate
Others

By End User Industry
Food and Beverage
Pharmaceutical
Personal Care
Animal Nutrition
Others

By Geography
North America
USA
Canada
Mexico

South America
Brazil
Argentina
Others

Europe
Germany
France
United Kingdom
Spain
Others

Middle East and Africa
Saudi Arabia
Israel
Others

Asia Pacific
China
Japan
South Korea
India
Others