It is estimated that APAC food antioxidants market size will be worth more than US$1.15 billion by 2026.
The demand for food antioxidants across Asia Pacific countries has been increasing steadily in recent years, as consumers have become more health conscious. The growing popularity of ready meals and packaged foods and subsequent expansion of the food processing sector is expected to further propel this demand in the upcoming years.
Antioxidants, which function as radical scavengers, help prevent cell damage are known to boost immunity significantly. Dieticians and physicians often suggest foods containing natural antioxidants which can prevent the risk of a range of health problems including heart diseases, diabetes, and cancer.
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A large geriatric population base in China, Japan, India, and South Korea and widespread occurrence of these conditions will certainly encourage the consumption of healthy, nutrition-rich processed foods. Following are some of the major factors influencing future developments in the food antioxidants market.
- Growing prominence of synthetic antioxidants
Antioxidants can be natural or synthetic. Natural antioxidants such as rosemary, vitamin C, vitamin E, and polyphenols are generally derived from plants and animals. These naturally-occurring compounds are known to possess excellent anti-inflammatory, anti-aging, anti-atherosclerosis, and anti-cancer characteristics. They are extensively used in food additives, functional foods, and pharmaceuticals.
On the other hand, synthetic antioxidants are increasingly gaining traction and their demand is expected to grow at a CAGR of over 2.5% through 2026. These are chemically synthesized compounds which are mainly used as food preservatives to prevent lipid oxidation. They prevent the formation of free radicals during oxidation and overcome the challenges of naturals antioxidants such as inherent stability.
- Increasing use in food processing applications
Asia Pacific food antioxidants market size from processed food application was valued at more than US$190 million in 2019 and will continue to record substantial gains in the future. Processed foods are added with preservatives and antioxidants during manufacturing to enhance their shelf life. Most breakfast cereals serve as a rich source of polyphenols due to the presence of whole grains. BHT and BHA are typically added to cereals, butter, and dehydrated potatoes to increase their stability and shelf life.
Drying, freezing, and canning are among the commonly used food processing methods. During these processes, oxygen reacts with antioxidants instead of the packaged food, preventing spoilage due to oxidation. Constantly changing diet patterns and eating habits of consumers will certainly provide manufacturers with promising opportunities.
- Expanding processed food industry in Japan
Regional trends can be largely associated with a high degree of consumer awareness regarding the use of ingredients in processed foods. With increased household income levels, Japanese consumers are spending excessively on good-quality food products, which has led to numerous innovations in the processed food sector. Japan food antioxidants market size was estimated to be worth US$210 million in 2019 and will witness notable growth in the coming years.
An increasing urban population, expanding elderly population base, and the subsequent rise in numerous health conditions is encouraging consumers towards incorporating healthy diets. Majority of people are focusing on adoption of novel products containing natural ingredients. Both natural and synthetic antioxidants are anticipated to witness a strong demand in processed foods and beverages products such as bakery, dairy and meat products.
Growing number of manufacturing plants in the Asia Pacific region owing to a favorable business environment and supportive government initiatives such as “Made in China 2025” and “Make in India” will complement the regional outlook significantly.
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BASF SE, DuPont, Givaudan SA, and Eastman Chemical are few prominent names in the industry. In December 2019, BASF had set up a new production facility in Shanghai, China for large-scale synthesis of the antioxidants Irgafos 168 and Irganox 1076.
Table of Contents (ToC) of the report:
Chapter 3 Asia Pacific Food Anitoxidants Market Insights
3.1 Industry coverage
3.2 Industry outlook, 2015 – 2026
3.3 Value Chain
3.4 Regulatory overview
3.5 Market factor analysis
3.5.1 Food Antioxidants Market Growth drivers
3.5.2 Food Antioxidants Market Growth restraints
3.6 Competition review
3.7 Porter’s analysis
3.8 Raw material analysis
3.9 PESTEL analysis
3.10 Impact of food antioxidants market, by application
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