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APAC Food Antioxidants Market Share to Surpass USD 1.15 Bn by 2026
Published Date: 2020-09-30
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According to the Graphical Research new growth forecast report titled “Asia Pacific Food Antioxidants Market Growth By Product (Natural [Vitamin E, Vitamin C, Polyphenols], Synthetic [Butylated Hydroxyanisole (BHA), Tert-Butylhydroquinone (TBHQ), Butylated Hydroxytoluene (BHT), Propyl Gallate]), By Application (Fats & Oils, Processed Foods, Bakery & Confectionary, Meat Products, Beverages)”, Estimated to Exceed USD 1.15 Billion by 2026.
Asia Pacific is major market for food & beverages owing to rising population along with increasing purchase parity among consumers. Consumers in the region are focusing towards novel products which are made from natural ingredients and high product quality. Asia Pacific is anticipated to be a major food antioxidant market because of its usage in food application which includes beverages, meat products and processed food which may foster Asia Pacific food antioxidants market growth.
Juices and soft drinks which needs high amount of natural antioxidants like Vitamin C and rosemary extracts due to high acidic properties which can auto oxidize may foster industry growth. Rising demand for ready to consume drinks in countries such as India and China have surged Asia Pacific packaged food market. Natural antioxidants such as Vitamin C and Vitamin E are utilized in production of these packaged drinks which may foster Asia Pacific growth.
Use of natural antioxidants has rapidly intensified in formulation of organic beverages, these beverages are recognized as beverages which do not contain artificial flavors, synthetic chemicals and preservatives. Asia Pacific has emerged as a leading market for this segments and statistics suggest that region’s organic beverage market was valued at USD 18 billion in 2018 and is forecasted to witness revenue of USD 33 billion by 2023 which may propel regional natural food antioxidants demand.
Synthetic antioxidants product segment accounted for a market size of USD 394.68 Million in 2019, growing with a CAGR over 2.5% over the forecast period, in terms of revenue. Synthetic antioxidants are those antioxidants which are chemically synthesized. They function as food preservatives and helps to prevent lipid oxidation. The product prevents free radical formation during oxidation and overcomes the challenges of natural antioxidants including inherent instability which should boost regional product demand.
According to market trends, Asia Pacific processed food market is expected to reach over USD 49 billion in 2020. Rising demand for processed meat products in the region owing to increasing protein rich diet adoption among population which is likely to boost product utilization. The Asia Pacific food antioxidants market from meat products application occupied a market share of around 28.4% in the market. Antioxidants including Butylated Hydroxyanisole (BHA), Tert-Butylhydroquinone (TBHQ) are added to meat products include dried meat, fresh pork & chicken sausage, fish products. These products help to delay oxidation as they function as free radical scavengers which should promote product demand. They are extensively added to meat products as they do not lose their activity while cooking, thus driving market growth.
Key players in the Asia Pacific food antioxidants market are BASF SE, Eastman Chemical, Kalsec, Kemin Industries, Koninklijke DSM N.V., Vitablend, DuPont and Givaudan SA.