Antioxidants Market: Introduction
In terms of value, the global antioxidants market is anticipated to expand at a CAGR of 5% from 2019 to 2027. Antioxidants prevent damage to free radical-induced tissues by preventing formation of radicals, promoting their decomposition, or by scavenging them. Damage to cells affected by free radicals plays a central role in the aging process and disease progression. Antioxidants are used as a defense against the free radical damage. The demand for antioxidants in the food & feed industry is increasing rapidly across the globe. This has resulted in extensive usage of numerous types of antioxidants in food & feed production.
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Rise in Adoption of Antioxidants for Meat Products
Rise in consumption of meat in various developed and developing countries is a key factor anticipated to propel the demand for natural antioxidants in the global meat industry during the forecast period. Increase in demand for ready-to-eat meat products, owing to their high protein content, is one of the prominent factors driving the global antioxidants market. Furthermore, increase in per capita income in developing countries and rise in demand for frozen meat products, especially among the working population, are estimated to augment the global meat market during the forecast period. This, in turn, is projected to augment the antioxidants market.
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Rubber & Latex Additives to be Major Application Area of Antioxidants
Based on application, the global antioxidants market has been segregated into food & feed additives, pharmaceutical & personal care products, plastic additives, rubber & latex additives, fuel & lubricant additives, and others (including inks, paints & coatings, adhesives & sealants, metallurgy). The rubber & latex additives segment accounted for more than 30% share of the global antioxidants market in 2018. Antioxidants are chemicals that help protect rubber articles against attack from oxygen. This is a key factor expected to increase the adoption of antioxidants in the rubber & latex industry.
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Competition Landscape
The global antioxidants market was highly fragmented in 2018, with numerous manufacturers operating in the market. SONGWON Industrial Group, BASF SE, Solvay S.A., Clariant AG, ADEKA Corporation, and Evonik Industries AG are the leading companies that accounted for more than 70% share of the market in 2018. Manufacturers operating in the global antioxidants market include SONGWON Industrial Group, BASF SE, Solvay S.A., Clariant AG, ADEKA Corporation, Evonik Industries AG, 3V Sigma USA Inc., Rianlon Corporation, Everspring Chemical Co., Ltd., SI Group, Inc., Oxiris Chemicals S.A., Dover Chemical Corporation, Double Bond Chemical Ind. Co., Ltd., TAIWAN DYESTUFFS & PIGMENTS CORP., Beijing Tiangang Auxiliary Co., Ltd., Dalian Richfortune Chemicals Co., Ltd., and Chitec Technology Co., Ltd.
Global Antioxidants Market: Segmentation
Antioxidants Market, by Product
- Natural
- Synthetic
Antioxidants Market, by Application
- Food & Feed Additives
- Pharmaceutical & Personal Care Products
- Plastic Additives
- Rubber & Latex Additives
- Fuel & Lubricant Additives
- Others (including Inks, Paints & Coatings, Adhesives & Sealants, and Metallurgy)
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