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Phenolic Antioxidants Market Trends

Report ID: GMI7419
Published Date: Nov 2023
Report Format: PDF

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Phenolic Antioxidants Market Trends

One prominent trend is the growing emphasis on natural and sustainable antioxidants. With consumers becoming increasingly conscious of the environmental impact of products, there is a rising demand for phenolic antioxidants derived from natural sources, such as plant extracts. This shift aligns with a broader industry movement toward eco-friendly and renewable solutions. Another significant trend is the increasing utilization of phenolic antioxidants in the plastic and polymer industry. As industries seek to address concerns related to the environmental impact of plastics, phenolic antioxidants play a crucial role in extending the life and performance of plastic materials, contributing to sustainability efforts. Furthermore, the food and beverage sector continues to drive market growth, with a growing awareness of the benefits of phenolic antioxidants in preserving the quality and nutritional value of packaged food products.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for phenolic antioxidants reached around USD 4.23 billion in 2022 and is estimated to be worth USD 7.25 billion by 2032 driven by the widespread application of these antioxidants across sectors including food and beverages, plastics, rubber, and pharmaceuticals.

Natural phenolic antioxidants market generated USD 3.11 billion in revenue in 2022 and is likely to witness high demand through 2032 owing to the shifting consumer preference towards sustainable natural and organic products.

North America market size for phenolic antioxidants reached USD 1.26 billion in 2022 and is set to expand at a significant pace from 2023-2032 owing to the rising product demand from key industries such as plastics and food & beverages coupled with the increasing consumer inclination towards clean label products and sustainable solutions.

Some of the top companies engaged in the phenolic antioxidants market are BASF SE, Lanxess AG, Eastman Chemical Company, Adeka Corporation, Addivant, OXIRIS, Clariant International AG, Afton Chemical, and Chitec, among others.