Published on : Jan 21, 2016
The global market for antioxidants is predicted to experience a significant growth in the forecast horizon, especially owing to rising global consumption of meat. In addition, antioxidants also act as a solution to a number of skin aging problems and acts by dampening of free radical formations on the skin. The impact of clean revolution on the market for conventional antioxidants and preservatives has been discussed under. In addition, the applications and ingredients poised to rise in the coming years have also been discussed as under:
- Preference for Clean Labels: Consumers are greatly inclined towards the ‘natural’ concept and clean label foodstuffs is a key issue influencing the antioxidants and preservatives category. Conventional chemical preservatives are facing great threat from natural alternative such as rosemary extracts, etc.
- Packaging Technologies, a Competition to Preservation Ingredients: The preservation ingredients, however, have been experiencing an increasing competition from enhanced packaging and processing technologies as these packaging technologies have been acting as a substitute for extending the shelf life of products and thus are being highly demanded by consumers.
- Sluggishly Evolving Market: The market for oxidants and preservatives is developing sluggishly as compared to other ingredients used in food and beverages. In 2014, the use of oxidants and preservatives is 237,414 tonnes, however, the growth is predicted to rise at a 1.0% CAGR from 2014 to 2019.
- Prime Focus on Soft Drinks, Bakery, and Meats: Majority of the antioxidants and preservatives are utilized within two major areas such as soft drinks and baked processed meats. Different types of preservatives lead within these end-use markets.
- Asia Pacific Led the Market in 2013: Asia Pacific held the largest share in the market in 2013 and was trailed by North America. By the end of 2013, North America represented 27.4% in the market and this trend is predicted to stay the same in the coming years. However, Asia Pacific will maintain its superiority and will stay as the largest market all through 2020, trailed by North America.
Thus, the consumers of today need convenience of having a longer shelf life on the promise of getting cleaner labels on the packaged drinks and food and this may pose a number of challenges for the antioxidants and preservatives industry and can be overcome by the introduction of suitable ingredients.