As
the demand for anti-aging products is increasing, players in the
global antioxidants market have been presented with a lucrative
opportunity for boosting their sales in the global market, states TMR
in a recent report. The global increase in meat consumption is also
creating a major growth opportunity for antioxidant manufacturers.
Though the global market is dominated by a few key companies with
similar channels for distribution and pricing strategies, but at the
regional level the competition is intensely competitive due to the
presence of local raw material dealers.
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At
the regional level, the Asia Pacific market is taking the lead due to
the collaborations that the leading companies are taking up with the
local manufacturers in this region. In the Asia Pacific region, China
is one of the major markets and Kemin Industries Inc. is leading with
a company share of 10.2% in the market. It is followed by Kalsec and
ADM. These top three companies hold a cumulative share of 17.9% of
the total market share in China.
The
antioxidants market in the global level is extremely cost sensitive.
Hence, the manufacturing companies’ need to turn up with new
innovations. The key players in the market are coming up with new
plans to increase their revenue share in the market. For instance,
Aland Nutraceutical Co. made collaborations with other companies in
the industry to manufacture minerals, supplements and vitamins and
also generate revenue. The level of competition is more intense in
the regional level than in the global market as only few
international players dominate the global market. This kind of
investment and collaboration with local raw material dealers as well
as other companies is expected to bolster the growth of the
antioxidants
market in the global as well as regional level.
In
order to maintain their stand in the global anti-oxidants market,
companies will have to ease their pricing policies and branding
techniques, states TMR. The high cost of raw materials is intensely
affecting the market profitability of anti-oxidants companies. Also,
regulatory policies by regional and national governing bodies, which
have banned specific antioxidants to be sold and used in the market,
will limit the overall expansion of the global anti-oxidants in
certain regions. The growth of the market depends on how focused the
suppliers are on cost reduction as there can be a significant threat
of backward integration from buyers.
Anti-Aging
Product Demand to Boost Market for Anti-Oxidants
The
increasing demand for anti-aging products across the globe is largely
accredited to the growth of the anti-oxidants market. Vitamin C and
glutathione are the most used antioxidants as they protect the
cytoplasm of cells and are used in most of the anti-aging products. .
Other antioxidants include uric acid, vitamin E, vitamin A and beta
carotene. The antioxidants found in cosmetics are alpha tocopherol
acetate and tocopherl. They help in the increasing the content of
vitamin E in the skin.
Global
demand for anti-aging products has witnessed a huge rise in the past
few years owing to the rapid rise in the world’s aging population.
The rising population of elderly people, combined with the rise in
disposable incomes, especially in developing regions, is expected to
boost sales of anti-aging products over the period between 2014 and
2020. If these factors exist persistently, the antioxidants market
will witness favorable expansion in the next few years.
Lack
of Awareness, Negative Statements by Experts, and Strict Government
Regulations to Hinder Market’s Growth
Some
of the major challenges faced by the global antioxidants market
include lack of awareness among consumers about the several benefits
of these elements, negative statements by experts regarding the
potential side effects of antioxidants, and strict government rules
for the circulation and use of the products having antioxidants.
Negative comments by expert organizations, such as the claim by
American Heart Association in 2008 that antioxidants are ineffective
in protecting the heart’s health, are considered to be a hindrance
in the global sales of antioxidants.
Apart
from these, the government policies for safer use of antioxidant will
also hamper the growth of this market in the next few years. Rigid
test policies set up by the governments are expected to slow down the
circulation of the antioxidants in certain regional markets. These
factors together are expected to hamper the market growth of
antioxidants in the next few years. North America is going to be a
challenge for the manufacturers of anti-oxidants as the regulatory
policies there are rigid in terms of the verification of the
antioxidants.
The
leading regions in the global antioxidants market are reported to be
Asia-Pacific and North America, as they lead in the numbers with
growing life expectancy, strong agricultural background and increase
in per capita income. The growing demand for dietary and health
supplements, and rise in the demand for packaged foods is expected to
contribute to the elevated demand for antioxidants in the
Asia-Pacific in the next few years. Asia Pacific held a leading share
of 39.90% in the global antioxidants market in 2014.
In
revenue terms, the global market of antioxidants is reported to rise
at a CAGR of 5.6% in the forecast period of 2014-2020. It is expected
to reach US$3,111.5 million by 2020, as reported by TMR.
The
review has been based on the findings of a TMR report titled
“Antioxidants Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2014 - 2020”.
Antioxidants
Market: By geography
North
America
Europe
Asia
Pacific
- Australia
- China
- Indonesia
- South Korea
- Taiwan
- Thailand
Rest
of the World
Antioxidants
Market: 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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