According to Custom Market Insights (CMI), The Global Antioxidant BH Market Size was valued at USD 227.3 million in 2021 and is estimated to reach USD 339.4 million by the end of 2030 at a CAGR of approximately 5.3% during the forecast period 2022-2030.
The increasing demand for protein and food products obtained from animals has boosted the market for antioxidant BHT to a great extent. The rising need for antioxidants from natural sources in food substances is helping the market record a considerable revenue over the period. The pandemic outbreak had a considerable impact on the antioxidant BHT market due to the misconceptions spread about the causative factor of the pandemic. The demand for animal feed had reduced to a great extent in the global market, which hampered the growth of the antioxidant BHT market as well.
Browse the full “Antioxidant BHT Market Size, Trends, and Insights By Type (Natural, Synthetic), By Application (food and feed additives, Fuel and lubricant additives, Pharmaceutical and personal care products, Plastic and rubber additives), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/antioxidant-bht-market/
Market Dynamics
Drivers
Accident BHT has increased the products’ shelf life by maintaining a substance’s value. The usage of high-quality preservatives is essential to retain any product’s quality. The food and beverages industry has used these advanced procedures on a large scale. The increased consumption of animal-sourced food products has boosted the demand for better antioxidants and preservation techniques. The cosmetic industry has used antioxidant BHT on a large scale for organic products, which tend to degrade with time.
The effect of external impressions on the product hampers its value and quality, which can be prevented with the help of the antioxidant BHT. This product is mixed with plastic and other products to maintain their inner contents. External impressions are prevented from hampering the quality and texture of the products. These multiple reasons have emerged as the driving forces for the market’s growth and are expected to propel the demand during the forecast period.
Restraints
The various side effects associated with using synthetic antioxidants have hindered the market’s growth tremendously. The products’ nutritional benefits are sometimes destroyed when the chemicals react with the products inside.
The high cost associated with utilizing these advanced products has increased the total cost of the products and hampers the demand and supply chain to a great extent. The pandemic outbreak had a negative impact as misconceptions regarding the infection hampered the sales and supply chain of the business. A shortage of disposable income available to the people has restricted the sales and demand for high-end products that use these substances. These multiple reasons restrain the growth of the market considerably.
Opportunities
The increasing research and development that the key market players carry out have helped them to introduce new options of preservatives for the manufacturing and packaging industry. Increasing demand for better preservatives by the bakery industry has greatly boosted the market’s growth.
The consumables and beverages require greater protection from oxidation which destroys the quality of the products; hence the demand for advanced antioxidants has increased tremendously. Increasing demand for protein and meat all over the world has boosted the demand for antioxidant BHT, which helps protect the products’ quality and freshness. The shelf life of the materials can be decided according to the time required for transportation which will prevent the products from degrading. These multiple reasons have emerged as the greatest opportunities for the market to present considerable growth during the forecast period.
Challenges
The rules and regulations imposed by the government regarding the safety norms of the products with preservatives have greatly hampered the market’s growth. The cost of the final products increases considerably with advanced preservatives, which hinders the demand for the goods in the market. Various side effects that might arise due to the usage of synthetic antioxidants have challenged the market’s growth to a great extent. These multiple reasons challenge the growth of the market during the forecast period.
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Report Highlights
Based on the Type sent, the synthetic preservative segment is expected to have the largest market share in the coming years. The segment has dominated the market in the past. The use of modern technologies in the extraction of these materials will play an instrumental role in the market’s growth in the coming years. This is a cost-effective option compared to the other types available in the market, due to which it will have a larger market share in the coming year next line.
Based on Application, the rubber plastic, and latex segment is expected to drive market growth in the coming years. The product will be increased in the coming year to enhance the aesthetic appeal. Growing demand for the product in the food industry will also help grow the market and garner good revenue in the coming years.
Regional Snapshot
The geographical region of Asia Pacific has emerged as the fastest developing market and is expected to grow similarly during the forecast. The increasing demand for food sources obtained from animal kingdoms and protein has boosted the demand for the antioxidant BHT market. The food and beverages sector belonging to this region is highly influenced by the recent trend of organic and natural food products.
The rising need for packed and processed food products with guaranteed quality checks helps the market record considerable growth during the forecast period. Increasing demand for convenience food products has driven the market towards a tremendous growth phase. The region of North America has also contributed significantly due to the huge consumption of food products obtained from animals.
Key Players
- Kemin Industries Inc. (U.S.)
- BASF SE (Germany)
- Koninklijke DSM N.V. (Netherlands)
- Eastman Chemical Company (U.S.)
- Kalsec Inc. (U.S.)
- Archer-Daniels-Midland Company (U.S.)
- Barentz Group (Netherlands)
- Adisseo (France)
- International Flavors & Fragrances Inc. (U.S.)
- DuPont de Nemours Inc. (US)
Table of Contents: https://www.custommarketinsights.com/report/antioxidant-bht-market/#table-of-contents
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