Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- Antioxidants, with their ability to prolong the shelf life of food products, form an inextricable part of the global food and beverages sector, feed additives, healthcare industry, and cosmetics industry. According to a latest market research report by Transparency Market Research, the global antioxidants market will report a CAGR of 5.6% in revenue terms (2014-2020) as it expands from US$2,123.4 million in 2013 to approximately US$3,111.5 million in 2020. Because of their longevity-enhancing attributes, antioxidants are also referred to as shelf-life extenders. With a growing demand for food, medicines and personal care products with a longer shelf life, the use of antioxidants is expected to see an upward trend, says the report, which is titled, 'Antioxidants Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014-2020'.
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A TMR analyst who worked on the report says, "An upward swing in meat consumption globally will promote the growth of the global antioxidants market. It is expected that the demand for feed antioxidants will see an increase with the growing demand for meat products with a longer shelf life. Besides, anti-aging products are in high demand, especially among consumers aged 40 years and above. The antioxidants market can thus expect higher demand to arise from the cosmetics and skincare segment."The global antioxidants market features both natural and synthetic variants, each with its dominant applications in various industries. The natural antioxidants segment is sub-segmented into rosemary extracts, vitamin C (including ascorbic acid), vitamin A (including carotenoids), and vitamin E (including tocopherols and tocotrienols). The synthetic antioxidants market includes: butylated hydroxytoluene (BHT), butylated hydroxyanisole (BHA), and others.
As of 2013, synthetic antioxidants held a larger share of the market than their natural counterpart. Factors that work in the favor of synthetic antioxidants are their low manufacturing costs and ease of availability from consumers' standpoint. Natural antioxidants are more expensive, but will continue to report steady growth on account of greater consumer interest in natural and green food and personal care products. Nutritional and wellness products with natural ingredients are expected to keep up the demand for natural antioxidants. According to the findings of the report, the synthetic antioxidants market was worth US$1,394.5 million as of 2013. Moving forward, synthetic antioxidants will continue to lead in the overall antioxidants market because of the aforementioned advantages.
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The report studies the following regions in the global antioxidants market: North America, Europe, Asia Pacific, and Rest of the World. In 2013, Asia Pacific held the leading position in the global antioxidants market, with a market share of 31.8%. This was followed by North America, which accounted for a market share of 27.4% in the same year. The two regions will remain predominant over the report's forecast period, analysts forecast. By 2020, Asia Pacific will emerge as the largest antioxidants market, with North America in second place. In Europe, demand for antioxidants largely arises from countries such as Germany, U.K., Ireland, and Italy where the consumption of functional foods and beverages is seen to be high.
Antioxidants Market: By geography
- South Korea
Rest of the World
Antioxidants Market: By Type
- Rosemary Extracts
- Vitamin A
- Vitamin C
- Vitamin E
- Butylated hydroxyanisole (BHA)
- Butylated hydroxytoluene (BHT)
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Source:Transparency Market Research