Food Antioxidants Market Summary
As per Market Research Future Analysis, the Food Antioxidants Market was valued at USD 1.55 billion in 2022 and is projected to grow from USD 1.63 billion in 2023 to USD 2.25 billion by 2030, with a CAGR of 5.47% during the forecast period. The market is driven by the increasing use of food antioxidants in various products to extend shelf life and the rising demand for both natural and synthetic antioxidants in the food and beverage industries. The synthetic segment dominated the market in 2022, accounting for approximately 71-73% of revenue, while the natural segment is expected to witness the highest CAGR. The Asia-Pacific region accounted for USD 0.7 billion in 2022 and is anticipated to exhibit significant growth due to rising populations in countries like China and India.
Key Market Trends & Highlights
Key trends influencing the Food Antioxidants Market include increased processed food consumption and a growing preference for natural antioxidants.
- The synthetic segment held ~71-73% of the market share in 2022.
- Natural antioxidants are expected to grow at the highest CAGR during the forecast period.
- The Asia-Pacific market accounted for USD 0.7 billion in 2022, driven by population growth.
- Meat & poultry applications held the largest segment share in 2022.
Market Size & Forecast
2022 Market Size | USD 1.55 Billion |
2023 Market Size | USD 1.63 Billion |
2030 Market Size | USD 2.25 Billion |
CAGR (2023-2030) | 5.47% |
Major Players
Key players include BASF SE, Cargill Inc, Frutarom Ltd, Kemin Industries Inc, and Archer Daniels Midland.