The Market for Foods High in Antioxidants is expected to be worth US$ 3.16 billion in 2023 and is predicted to reach US$ 5.25 billion by 2033. The market is registering a CAGR of 5.2% during the forecast period.
How Food Antioxidants Improving Patient's Health?
Food High in antioxidants reduce health problems, including heart diseases, cancer, and neurological disorders. Eating a diet rich in antioxidants can help patients' health in several ways. Here are some examples:
ü Reducing Inflammation: Chronic inflammation is a leading cause of many diseases, and antioxidants can help reduce inflammation in the body.
ü Boosting the Immune System: Antioxidants such as vitamin C, and zinc, can help boost the immune system, making it more effective at fighting off infections and diseases.
ü Protecting Against Cancer: A few antioxidants, such as beta-carotene and vitamin C, have been shown to reduce the risk of certain types of cancer by protecting cells from damage.
ü Improving Heart Health: Antioxidants like vitamin E and resveratrol can help improve heart health by reducing inflammation and protecting against artery damage.
These factors may reduce the risk of chronic diseases by protecting patients' cells from damage.
Regulatory Issues and High Competition May Limit the Market Growth
The market is highly competitive. Therefore it also includes a few factors that may decline the market growth are:
² Regulatory Issues: The use of antioxidants in food products is regulated by various authorities, and the rules and regulations surrounding their use can vary by region. It can create barriers to entry for companies looking to enter new markets.
² Competition: Several players in the market are offering similar products, which is difficult for companies to differentiate themselves and gain market share.
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l The food antioxidants market is likely to capture a CAGR of 5.2% with a valuation of US$ 5.25 billion by 2033.
l In the historical period, the market secured a valuation of US$ 2.42 billion in 2018.
l China is leading the global market by collecting the maximum share during the forecast period.
Which Strategies are Key Players Adding to the Market?
The strategies adopted by key players in the food antioxidants market include:
Ø Product Innovation: Key market players focus on developing new and innovative products to meet consumers' demands. It involves developing new blends of antioxidants or using new sources of natural antioxidants.
Ø Expansion of Production Capacity: A few players are focused on expanding their production capacity in the market.
Ø Acquisitions & Partnerships: Key players acquire smaller companies or form partnerships to gain access to new technologies or markets.
Ø Investment in Research & Development: To identify new sources, key players invest hugely in research & development activities to improve the effectiveness of existing products.
Recent Developments in the Market are:
v In 2021, BASF SE announced its newly launched products with high-purity natural antioxidants for pet food. It includes two products, Natuphos E and Luminance.
v In 2020, Archer Daniels Midland Company launched its new plant-based clean-label food colors. The company also announced expanding its global production of non-GMO soy protein concentrate.
v In 2020, DuPont de Nemours, Inc acquired InnovaFeed, a leading producer of insect protein for animal feed. The company launched a new line of plant-based meat alternatives under its Danisco Planit brand.
v In 2020, Koninklijke DSM N. V. acquired Glycom A/S, a leading supplier of human milk oligosaccharides used in infant nutrition and dietary supplements.
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