Synthetic Antioxidants Market Projected to be Resilient by 2030

Overview

In recent years, greater attention has been focused on the use of synthetic antioxidants in food, owing to recent studies showing potential negative consequences that can result from the intake of synthetic antioxidants. Some foods contain high levels of synthetic antioxidants and these are called 'free radical antioxidants', whereas other foods that do not contain synthetic antioxidants are called 'antioxidant rich'. The free radical variety of antioxidants is actually the main cause of damage to the cells that can be seen in aging skin and wrinkles. All of these contribute to aging and disease, so eating a balance of these kinds of antioxidants is important.

Competitive Landscape

Major companies contributing to the global synthetic antioxidants market include Double Bond Chemical, Kalsek Inc., Evonik, Baker Hughes, Lubrizol, Eastman, Songwon, Dow Chemicals, Clariant, Naturex S.A., Cargill Inc., Camlin Fine Sciences Ltd., BASF S.E., Kemin Industries, Frutarom, Krishna Antioxidants Pvt. Ltd., Yasho Industries Ltd., DuPont, Akrochem, Addivant, Chemtura, Barentz International BV, and Akzonobel.

Drivers

Growing consumer awareness over the food content coupled with the rising demand for antioxidants amidst hectic lifestyles is expected to propel growth of the synthetic antioxidants market throughout the forecast period.

Moreover, increasing occurrences of progeria or premature aging syndrome as a result of antioxidant deficiency are expected to further cushion the growth of the synthetic antioxidants market over the forecast period.

The Epitome of the COVID-19 Debacle

The COVID-19 crisis and its resultant lockdowns have made an adverse influence on the global synthetic antioxidants market. The pandemic-led strains in the supply chain have incurred losses to market participants in terms of raw materials and initial investments. Although, on the brighter side, the gradual ease in lockdowns is rebooting future prospects for the market.

Key Takeaways

·        The synthetic antioxidants market is anticipated to grow at a CAGR of 7.0 % during the forecast period owing to the increasing demand for antioxidants across the food and beverage (F&B) industry combined with the rising application in personal care products. For instance, in September 2021, a Norwegian cosmetic product-making company, Norwex, launched a series of personal care products including Prebiotic Deodorant, containing Nordic antioxidants which aid in minimizing the free radicals and preventing irritations.

·        In the territorial breakdown, the synthetic antioxidants market in the Asia Pacific region is projected to propel at a substantial scale on the heels of increasing demand for nutritional supplements and personal care products amidst growing disposable incomes.

·        In the same tune, the North American region is also sustaining well for the synthetic antioxidants market on account of rising adoption of antioxidants in the cosmetic industry to cater to the increasing cases of dermatological disorders.