The global food antioxidants market size is estimated to be valued USD 1.3 billion in 2020 and is expected to reach a value of USD 1.8 billion by 2025, growing at a CAGR of 6.0% during the forecast period. It is estimated to account for 52.4 KT in 2020 and is projected to account for 68.1 KT in 2025, growing at a CAGR of 5.4% during the forecast period. Factors such as increasing demand for poultry, changing consumer preferences due to fast-paced lifestyles, and increased need for natural antioxidants in food products is driving the market for food antioxidants during the forecast period.
Key players in this market include Koninklijke DSM N.V. (Netherlands), Archer Daniels Midland Company (US), Kemin Industries, Inc.(US), BASF SE (Germany), Eastman Chemical Company (US), DuPont (US), Frutarom Ltd (Israel), and Barentz Group (Netherlands).
Expansions and new product launches were the key strategies adopted by the leading players in the food antioxidants market with a view to improve their product line and presence in the market.
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Archer-Daniels-Midland Company (ADM) (US) Archer Daniels Midland Company (ADM) produces food & beverage ingredients, feed ingredients, industrial ingredients, and biofuels. The company operates through four segments—agricultural services and oilseeds, carbohydrate solutions, nutrition, etc. It is a leading manufacturer of protein meal, vegetable oil, corn sweeteners, flour, biodiesel, ethanol, and other value-added food and feed ingredients. It offers various antioxidants under its nutrition business segment. The nutrition segment includes two divisions, namely wild flavors, and specialty ingredients and animal nutrition. Under its nutrition segment, the company offers antioxidants through its wild flavors and specialty ingredients division with a range of natural and synthetic forms of vitamin E for food, feed, tablet, capsule, and compounding applications. The company engages in the production, sale, and supply of specialty products, including emulsifiers, natural flavor ingredients, natural health and nutrition products, natural colors, flavor systems, proteins, polyols, soluble fiber, hydrocolloids, and other specialty food & feed ingredients.
It operates in more than 170 countries globally and has 44 innovation centers, nearly 500 crop procurement facilities, and 270 food & feed ingredient manufacturing facilities. It operates through its consolidated subsidiaries in 82 countries, with most of these subsidiaries being located outside the US.
BASF SE (Germany) with headquarters in Ludwigshafen, Germany, is a diversified chemical company founded in 1865. BASF is listed on the stock exchanges in Frankfurt (Germany), London (U.K.), and Zurich (Switzerland).
The company has 11 divisions, grouped into seven segments—chemicals, materials, industrial solutions, surface technologies, nutrition & care, agricultural solutions, and others. BASF’s industrial solutions segment consists of the dispersions & pigments and the performance chemicals divisions. The segment develops and offers ingredients and additives for industrial applications, such as polymer dispersions, pigments, resins, electronic materials, antioxidants, and additives. Food antioxidants are a part of the performance ingredients offered by the company. “Newtrition” is BASF SE’s brand for serving the human nutrition market.
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BASF operates globally through subsidiaries in 90 countries with six Verbund sites (based on BASF’s principles to improve resource efficiency), and 338 additional production sites such as BASF India (India) and BASF China (China). The major subsidiaries of the company are BASF Corporation (U.S.), BASF Personal Care and Nutrition GmbH (Germany), Wintershall Holding GmbH (Germany), Cognis Holding GmbH (Germany), Engelhard Corporation (U.S.), and BASF Plant Science GmbH (U.S.).