Worldwide Market Reports added Latest Research Report titled “Synthetic Food Antioxidants Market – Size, Share, Outlook, and Forecast till 2026”
Food antioxidants are used to delay the process of oxidative rancidity, to which most of the foodstuffs containing fats or oils are exposed. The progress of this process affects the sensorial characteristics and nutritional value of the food. In the processing of oil seeds into oils and fats, the impurities from the oil is removed through refining. This might lead to the removal of natural antioxidants, which makes the products susceptible to oxidation. Synthetic antioxidants are used to restore it, thereby increasing the shelf life. Synthetic food antioxidants are available in dry and liquid form. It finds applications in fats & oils, prepared foods (snacks & dairy), prepared meat & poultry, beverages, bakery & confectionery, seafood, and others.
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Different types of synthetic antioxidants include butylated hydroxyanisole, butylated hydroxytoluene, tert-butylhydroquinone, and propyl gallate. Rising consumption of processed food among the growing population is one of the major factors driving growth of synthetic food antioxidants market size. Moreover, increasing purchasing power and longer shelf-life of food has led to an increasing demand for food antioxidants. Also, rising awareness among consumers to look for healthier alternatives is driving the market growth.
However, cytotoxic effects, suppression of humoral immunity, and adverse effects of synthetic antioxidants on major organs such as kidney and liver are factors hampering growth of synthetic food antioxidants market.
Key Developments in Synthetic Food Antioxidants Market
Key players are adopting various strategies such as mergers and acquisitions to retain its position in the synthetic food antioxidants market. In 2016, Frutarom announced that it signed an agreement with GRUPO PIASA, Mexico’s top local provider of savory solutions for the purchase of 75% of its shares in exchange for overall consideration, including debt of around US$ 20.5 million.
In October 2016, Frutarom acquired Nardi Aromas Ltd in Brazil. This acquisition was to expand the product portfolio of solutions in natural flavors and herbal extracts of Frutarom.
On April 16, 2018, Barentz, a leading international ingredient distributor established a joint venture with Brazilian Tovani Benzaquen Ingredients, a major ingredient distributor in South America. The partnership is expected to generate valuable synergies in the coming years. Moreover, Camlin Fine Sciences entered into a share purchase agreement for the acquisition of 51% stake in Ningbo Wanglong Flavors and Fragrances Company Limited.
Some of the major players operating in the synthetic food antioxidants market include Frutarom Ltd, Barentz Group, and Camlin Fine Sciences Ltd.
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