Phenolic Antioxidant Market: Application Analysis, Regional Outlook, Competitive Strategies & Forecast by 2023
Global Phenolic Antioxidant Market Information: by Source (Natural and Synthetic), by Application (Food, Plastics & Rubber, Pharmaceutical, Cosmetic, Fuel & Lubricant and Other), and by Region (Asia Pacific, Europe, North America, Latin America, and Middle East &Africa,) - Forecast till 2023
Pune, India -- (SBWire) -- 03/28/2018 --Asia Pacific region is predicted to lead the market during the forecast period due to high consumption of Phenolic Antioxidant Market in the fuels and lubricants, rubber, feed & food, and cosmetics & personal care. Phenolic Antioxidants are widely used in hydrocarbon fuels, gasoline, aviation turbine fuels, fuel oils and lubricating oils to protect against auto oxidation. Prominent growth factors include increasing domestic flights within the Asia Pacific region. The increasing number of flight service provider coupled with an increase in promotional events and reducing fares will boost up the demand for Phenolic Antioxidants in Asia Pacific region. Also, the increasing population, increased employment and urbanization helps in promoting tourism which helps in the growth of market.
Increasing disposable income and rising need of prepared foods for working professionals in the metropolitan cities influence the growth of Phenolic Antioxidant Market. Increase in the consumption of meat products and milk based products result in increasing demand for animal feed, thus contributing to the growth of market.
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The major factors driving the demand of Phenolic Antioxidant in Asia Pacific followed by North America and Europe are increasing demand for health conscious food and improved balance diet among the population. In North America and Europe due to the technological advancement in the extraction process of phenolic antioxidant from raw materials such as herbs & spices, vegetables, fruits and plants results in the above average growth in that region. Demand of Phenolic Antioxidant is increasing in beverages, juices, purified water, and energy drinks which is leading to the growth of food and beverage industry. Increasing investment in research & development activities by major players operating in phenolic antioxidant market propel the growth in a drastic manner. Growing demand of healthy food such as diet control cereals, oats, green tea in health care, sports and in entertainment sector boost helps in expanding the market size in future.
North America and Europe is projected to grow Phenolic Antioxidant Market owing to the stringent regulations and suitable laws implemented for the use of Phenolic Antioxidant in the manufacture of healthy food products.
Segmentation of Global Phenolic Antioxidant Market is done on the basis of type, number of functional group, end use industry and region. On the basis of type, market is segmented into natural and synthetic. Natural group includes herbs & spices, fruits & vegetables, nuts & seeds, oil & others. Based on the number of functional group, phenolic antioxidant market is segmented into mono-functional groups, bi-functional groups, and multi-functional groups. On the basis of end use industry, the market is categorized into food & feed, plastic, fuel & lubricants, rubber, cosmetic & personal care, and others. Based on region, this market is segmented into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa.
Mayzo Inc. (U.S.)
BASF SE (Germany)
Archer Daniels Midland Company (U.S.)
Evonik Industries (Germany)
DSM (the Netherland)
VDH CHEM TECH PVT. LTD (India)
Akrochem Corporation (U.S.)
Chitec Technology Co., Ltd. (Taiwan)
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