Transparency
Market Research (TMR) has announced the publication of a new market
study based on the antioxidants
market. According to the report, the global antioxidants market
is driven by the growing demand from the cosmetics and skincare
segment. The report is titled “Antioxidants Market - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 -
2020” and contains fruitful information on the market dynamics, key
competitors, and the general attractiveness of the antioxidants
market. According to the report, the global antioxidants market,
which was valued at US$2.1 bn in 2013, is set to expand at a CAGR of
5.6% in the forecast period from 2014 to 2020, reaching a value of
US$3.1 bn in 2020.
Antioxidants
are substances that prolong the shelf life of foods by preventing
oxidation, thus saving the food product from deteriorating.
Antioxidants prevent fat rancidity and color changes in the food.
Antioxidants are thus largely used for preventing cell damage. Apart
from food, antioxidants are used in cosmetics and animal feed
additives to reduce singlet oxygen.
According
to the report, the increasing consumption of meat all over the world
has led to growth of the global antioxidants market. Moreover, the
increasing demand for anti-aging products is also boosting the global
antioxidants market. People are more concerned nowadays about their
looks and reversing the effects of ageing. With age, skin tends to
lose its defenses against weather and pollution, leading to the
appearance of wrinkles and other signs of aging. Premature aging is
also a growing concern among young adults, impacting the global
antioxidants market positively.
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Antioxidants
act as a remedy for skin aging by reducing the formation of radicals
in the skin and protecting the cell membranes. Antioxidants prevent
the oxidation process by neutralizing the harmful molecules of oxygen
and other free radicals. Due to these properties, antioxidants are
now used in the health care and food packaging industries, thus
fueling the global antioxidants market.
Asia
Pacific will experience a high growth rate during the forecast period
from 2014 to 2020, followed by Europe and North America. The growth
can in the Asia Pacific region can be attributed to the growing
health concerns and an increase in the demand for healthier dietary
supplements. China and India are majorly contributing to the success
of the antioxidants market.
Antioxidants
are of two types: synthetic and natural. Currently, synthetic
antioxidants are used on a large scale, as they are relatively
cheaper, but this trend will soon shift and there will be an
increased adoption of natural oxidants, forecasts the report. Growing
health concerns and increased awareness about the benefits of
everything natural will drive the natural antioxidants market,
especially in North America. Additionally, an increased demand from
countries such as Italy, Ireland, Germany, and the U.K. for
functional food and beverages with increased shelf life is also set
to contribute to the growth of the antioxidants market in Europe.
Globally,
the market for synthetic antioxidants is anticipated to remain larger
than the market for natural antioxidants in the period from 2014 to
2020. The synthetic antioxidants segment includes butylated
hydroxytoluene (BHT), butylated hydroxyanisole (BHA),
tert-butylhydroquinone (TBHQ), and propyl gallate.
The
leading key players in the antioxidants market are BASF, Ajinomoto,
and ADM.
The
antioxidants market has been segmented as follows:
By
geography
North
America
Europe
Asia
Pacific
- Australia
- China
- Indonesia
- South Korea
- Taiwan
- Thailand
Rest
of the World
By
Type
Natural
Antioxidants
- Rosemary Extracts
- Vitamin A
- Vitamin C
- Vitamin E
Synthetic
Antioxidants
- Butylated hydroxyanisole (BHA)
- Butylated hydroxytoluene (BHT)
- Others
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