Synthetic Food Antioxidant Market Is Growing At a Rapid Pace in North America

Synthetic Food Antioxidant Market

 Synthetic food antioxidants are used to prevent the product from oxidation. They have anti-mutagenic and anti-carcinogenic properties, and are approved by the European Union and the Food and Drug Administration (FDA) for application in prevention of diseases such as diabetes, coronary heart disease, and cancer.

Synthetic antioxidants are used to preserve and stabilize redefined fats and oils within food products, and help maintain optimal quality of products. TBHQ (tert-butylhydroxyquinone), PG (propyl gallate), BHT (butylated hydroxytoluene), and BHA (butylated hydroxyanisole) are four major types of synthetic food antioxidant widely used in the food industry. They offer protection during storage and help extend shelf life of the food products.

Market Dynamics:

With the increasing prevalence of chronic diseases, such as diabetes, coronary heart disease, and cancer, and increasing consumer awareness about the benefits of synthetic antioxidants, the demand for synthetic food antioxidant is also increasing, which, in turn is expected to propel the growth of the synthetic food antioxidant market. According to the American Cancer Society, in United States, around 1,806,590 new cases of cancer were expected to be diagnosed in 2020, and around 606,520 people die from the disease.

Moreover, rapid growth of the food industry, increasing demand for food products with an extended shelf life, increasing utilization of natural antioxidants (especially in North America and Europe), and increasing end-use applications of food antioxidants are expected to augment the growth of the synthetic food antioxidant market. For instance, in October 2020, Barentz announced the acquisition of Maroon Group to strengthen its foothold in North America.

However, stringent government regulations, lack of awareness about the benefits of food antioxidants, and high cost of natural food antioxidants are some of the factors expected to hamper the synthetic food antioxidant market growth.

Competitive Analysis:

Major players operating in the synthetic food antioxidant market are Frutarom, Kalsec Inc., Barentz Group, Kemin Industries, Inc., and a Camlin Fine Sciences Ltd.

Market players are adopting various strategies, such as partnership, acquisition, product launch, etc., to strengthen their market position. For instance, in June 2019, Nagase Holdings America and Prinova Group entered into a definitive agreement under which Nagase Group will acquire Prinova to expand its product portfolio.

In July 2018, Kemin Industries added a new antioxidant to its portfolio of antioxidant solutions.

In April 2018, Barentz and Brazilian Tovani Benzaquen Ingredients teamed up to generate valuable synergies and make the most of the two companies’ strengths on the important Latin American market.

Location: India

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