Europe Phenolic Antioxidant Market All Set to Flourish: Expected to Reach worth USD 367,651.00 Thousand in 2027
Published | April 2021
According
to BlueWeave Consulting, the Europe phenolic antioxidant market worth USD 307,302.72 Thousand in 2020, and is further projected to
reach USD 367,651.00 Thousand by 2027, at a CAGR of 2.72% during the forecast
period 2021-2027. The market is primarily supported by surging demand for
phenolic antioxidants as an additive in the food & feed industry as the
food industry of Europe is one of the largest industries by value. In addition,
the growing fuel and lubricant industry of Europe is another key factor for
phenolic antioxidants as fuels, especially biofuels, are highly susceptible to
oxidation, which leads to degradation of the fuel. The addition of antioxidants
helps control the degradation of fuel by oxidation which further drives the
market growth of European phenolic antioxidant market.
Use in Food Industry for Prevention of
Oxidation of Food
The food industry
is one of the biggest industries not only in Europe but globally. As per EU
data, every year around 88 million tonnes of food is wasted in Europe due to
various reasons with almost 50% of this wastage coming from households. The
estimated associated cost of wasted food is approximately USD 170 billion. This
number looks even scarier when we consider the fact that approximately 33
million people in Europe cannot afford a quality meal every other day. Food spoilage is one of the major causes of
such excessive food waste. Spoiled food refers to food products that have
become unsafe to consume. Food spoilage can occur for several reasons. One of
the most common reasons is oxidation. When food gets oxidized, its color, odor,
taste, and appearance change significantly.
Phenolic antioxidants
are used in food products as additives to prevent oxidation and reduce wastage.
When phenolic antioxidants are used in food products, they control rancidity
development, delay the formation of toxic oxidation products, maintain
nutritional quality, besides extending the shelf-life of the food
products. Owing to the harmful
side-effects of synthetic phenolic antioxidants, there are a number of
restrictions on their usage. Natural antioxidants pose no such side-effects and
therefore, they are increasingly used as additives in food products. With
increasing emphasis on food preservation, the use of phenolic antioxidants is
expected to increase, contributing positively to the Europe phenolic
antioxidants market, thereby driving the growth of the market.
Research Focusing On Use of Phenolic
Antioxidants in Cure of Several Diseases Including Cancer
Phenolic
antioxidants are at the core of several research studies due to their high
bioavailability, safety, minimal side effects, and, most importantly,
cost-effectiveness. Phenolic antioxidants like flavonoids have gained
importance as anti-cancer agents and have shown great potential as cytotoxic
anti-cancer agents that induce apoptosis in cancer cells.
Flavonoids possess
antibacterial, antiviral, antioxidant, anti-allergic, and anti-inflammatory
abilities. As an anti-cancer agent, flavonoids interfere with multiple signal
transduction pathways, thus limiting proliferation, angiogenesis, and
metastasis while increasing apoptosis. Anthocyanin is another variety of
phenolic antioxidants. Anthocyanin can reduce the production of DNA damaging
oxidative adducts, diminish lipid peroxidation, inhibit mutagenesis, and
modulate signaling cascades. Many other phenolic antioxidants are being studied
by different researchers to find a cost-effective cure for cancer and many
other diseases. With the availability of strong healthcare infrastructure, high
disposable income, advanced technology, and a highly skilled workforce in
Europe, the number of trials and researches to study and develop a
cost-effective cure for cancer is increasing. This is expected to affect the European
phenolic antioxidants market positively besides driving the growth of the
market during the forecast period.
Food & Feed Additive to holdthe Largest
Share by Application inMarket
Phenolic
antioxidants have found applications in multiple industries including plastics
& rubber, fuel & lubricants, cosmetics & personal care, food &
feed additives, and lots more. The food & feed additives segment held
approximately 36% market share in Europe's phenolic antioxidant market. This
growth can be attributed to the food industry is one of the biggest industries
not only in Europe but globally. As per
EU data, every year around 88 million tonnes of food is wasted in Europe due to
various reasons with almost 50% of this wastage coming from households.
Phenolic antioxidants are used in food products as additives to prevent
oxidation and reduce wastage. When phenolic antioxidants are used in food
products, they control rancidity development, delay the formation of toxic
oxidation products, maintain nutritional quality, besides extending the
shelf-life of the food products. The aforementioned properties of phenolic
antioxidants find their application in food & feed additives which drives
the market growth.
Impact of COVID-19
The Europe phenolic antioxidant market also
witnessed a decrease in product demand from end-use industries. European
Association of Chemical Distributors (FECC) is expecting that COVID-19 will
guide companies to focus more on reinforcing their domestic supply chain rather
than going international. However, it also added that this may take time. “At
this point in time I would not speak of a genuine shift, but local and regional
supply chains might get a renewed impetus as complementary sources or fall-back
options as a result of Covid-19. Probably, we will also see more strategic
alliances emerging” said DorotheeArns, Director General of the European
Association of Chemical Distributors (FECC).
Europe Phenolic antioxidant market: Regional insights
The European
Phenolic Antioxidant market is segmented into Germany, UK, France, Italy,
Spain, Russia, Poland, and the Rest of Europe, wherein Germany accounts for the
highest share. According to the Federation of German Food and Drink Industries
(BVE), the total turnover from the German food & drink industry was worth
more than USD 220 billion in 2019 with bakery products contributing 9.8% share,
confectionary& long-life bakery products contributing 7.2% share, animal
nutrition contributing 5.8% share, and oils and fats contributing 3.1% share.
One of the major concerns with such a large food industry is food preservation,
which is where phenolic antioxidants come into play. Phenolic antioxidants are
used to preserve the taste and aroma of food while preventing the rancidification
of the food. This property of antioxidants has contributed largely towards the
growing market of phenolic antioxidants in Germany
The leading Players in the MarketBASF SE, 3V Sigma S.P.A, SI Group
INC, Koninklijke DSM N.V, Lanxess AG, RaschigGmbh, AllScripts Healthcare, Epic
Systems Corporation, Cerner HealthCare, Philips HealthCare Services, GE
HealthCare Services, McKennson Corporation, and other prominent players. The
market players compete on the basis of the given product quality and the new
and cost effective manufacturing process, which can give them better yield and
optimize the process for more and better production.
Don’t miss the business opportunity of the phenolic antioxidant market. Consult our analyst, gain crucial insights and facilitate
your business growth.
The in-depth analysis of the report
provides information about growth potential, upcoming trends, and statistics of
the Europephenolic antioxidant market size & forecast. The report promises
to provide recent technology trends of phenolic antioxidant market and industry
insights which help decision-makers to make sound strategic decisions.
Furthermore, the report also analyzes the growth drivers, challenges and
competitive dynamics of the market.
About
Us
BlueWeave
Consulting provides all kinds of Market Intelligence (MI) Solutions to the
businesses regarding various products and services online & offline. We
offer comprehensive market research reports by analyzing both qualitative and
quantitative data to boost up the performance of your business solution. BWC
has built its reputation from the scratches by delivering quality inputs and
nourishing the long-lasting relationships with its clients. We are one of the
promising digital MI solutions company providing agile assistance to make your
business endeavors successful.