Global Antioxidants Market Expected to Reach US$311.5 Million by 2020 due to Increasing Demand for Enriched Animal Feed
Antioxidants Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020
Antioxidants act as a protecting element against the deterioration of food products caused by the process of oxidation, which manifests in various conspicuous ways such as a change in color (the ‘browning’ of exposed apple flesh, for instance) and fat rancidity, and help extend the shelf life of the product. Antioxidants are also used commonly in cosmetics and animal feed additives to prevent the damage to living cells due to oxidation. The use of antioxidants has numerous health benefits such as protection against aging, prevention of cancer, and cholesterol reduction.
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Global Antioxidants Market to Grow With a Healthy CAGR of 5.6%
The global antioxidants market has been enjoying a growing demand in recent times, since consumers are becoming more informed and thus more concerned over the safety of food products. The demand for more natural, less processed food and the proven medical benefits of antioxidants have driven the expansion of the global antioxidants market.
In the last four years, pork took up the largest share in global meat consumption. Nevertheless, chicken also experienced a high growth in consumption. Due to the growing consumption of both these meats, the global antioxidant market is expected to receive greater demand from the production industry of the animal feed used to raise chicken and swine. The increase in animal feed production is expected to help the demand for antioxidants grow at a 5.6% CAGR between 2014 and 2020. The global antioxidants market was evaluated at US$2,123.4 million in 2013 in terms of revenue and is anticipated to reach US$3,111.5 million by 2020. Another...