The global market for natural antioxidants is expected to reach a value of US$4.14bn by 2022, according to a new study by Grand View Research.
The report predicts that the market’s growth will be driven by demand for organic personal care products containing natural antioxidants said to be beneficial to skin and hair.
Asia Pacific was the largest market for natural antioxidants in 2014, accounting for over 35 percent of the overall market volume share. It is expected to witness the fastest growth over the next seven years on account of growing demand for fortified food & beverages and pharmaceuticals.
Antioxidants such as vitamin E and vitamin C supplements are expected to become increasingly popular among consumers due to wider availability, low cost and expansion of the healthcare sector.
China was the largest producer and consumer of vitamin C in 2014. However, overproduction of vitamin C has led to manufacturers cutting down their production capacity as well as shutting down of facilities in Asia Pacific.
Animal feed was the largest application of vitamin E accounting for over 40% of the market volume share in 2014. Growing demand for dairy products including milk and yogurt as well as meat products in expected to augment animal feed market.
Key players present in the global natural antioxidants market include DuPont-Danisco, DSM, Ashland, Archer Daniels Midland, Tianjin Jianfeng Natural Products Co. Ltd (JF Naturals), Prinova, Indena S.P.A, AkzoNobel, Naturex and Ajinomoto OmniChem Natural Specialties.