The global antioxidants market size is expected to grow from USD 4.13 billion in 2021 to USD 6.05 billion in 2028. These additives are nowadays being used extensively in multiple cosmetics products, including body lotions, shampoos, conditioners, and creams. BEAUTYLAB, for instance, announced that its Youth Elixir Super Antioxidant Daily Hydrator bagged the Pure Beauty Awards under the Best New Premium Anti-Ageing Product category in November 2019. It helps in protecting the skin from ageing effects. “Antioxidants Market, 2021-2028,” the market stood at USD 3.92 billion in 2020. It is set to exhibit a CAGR of 5.61% in the forecast period “between” 2021-2028.
Plastic, Rubber, and Latex Additives Segment to Grow Lucratively Stoked by Ability to Enhance Flexibility
By applications, the market is segregated into plastic, rubber, & latex additives, fuel & lubricant additives, food & feed additives, pharmaceutical & personal care products, and others. Out of these, the plastic, rubber, and latex additives segment is set to showcase a lucrative growth by generating a significant antioxidants market share. They help in improving the flexibility, appearance, stiffness, and strength of the product. Additionally, they prevent degradation with the help of thermo-oxidative or thermo-mechanical properties.
Key Companies Aim to Expand Presence and Portfolios to Intensify Competition
The market contains a large number of manufacturers that are currently focusing on expanding their portfolios and enhancing their geographic footprint. Some of the others are also participating in the launch of new additives as per the requirements of customers. Below is one of the industry developments:
- October 2019: Layn Corp. launched TruGro AOX, its portfolio of natural antioxidants that can be used in animal nutrition, such as oils, fats, premixes, animal feed, and pet foods. It will help in replacing synthetic additives.
Fortune Business Insights™ lists out the major manufacturers present in the global market. They are as follows:
- BASF SE (Ludwigshafen, Germany)
- ICC Industries Inc. (United States)
- Kemin Industries Inc. (Iowa, United States)
- Archer Daniels Midland Company (Illinois, United States)
- Barentz International BV (Hoofddorp, Netherlands)
- Kalsec, Inc. (Michigan, United States)
- Eastman Chemical Company (Tennessee, United States)
- Camlin Fine Sciences Ltd. (Maharashtra, India)
- Koninklijke DSM N.V. (Heerlen, Netherlands)
- Givaudan (Vernier, Switzerland)
Browse In-depth Summary of This Research Insight