The global mixed tocopherols market is expected to reach USD 5.04 billion by 2022, according to a new report by Grand View Research, Inc. Rising vitamin E demand across various end-use industries such as food & beverage fortification and dietary supplements is expected to fuel market growth over the next seven years.
Rising health concerns coupled with increasing disposable income may be attributed to growing vitamin E demand. Vitamin E have the ability to dissolve indigestive fat which prevents blood vessels and heart diseases such as hardening of the arteries, heart attack, chest pain, joint pain and high blood pressure.
Rising prevalence of these diseases has spurred mixed tocopherols demand globally. Rising vitamin E consumption in pharmaceutical industry for treating Alzheimer’s disease, diabetes, dementias, night cramps, Parkinson’s disease, epilepsy, restless leg syndrome, Huntington’s chorea, is estimated to fuel industry growth over the forecast period.
Alpha-rich tocopherols were the leading product segment with demand share exceeding 37% of in 2014. This segment is expected to gain share over the forecast period owing to high demand in dietary supplements.
Gamma-rich tocopherols are expected to be the fastest growing product segment over the next seven years growing at an estimated CAGR of 4.1%. The rapid growth of this product segment may be attributed to high nutritional value of the product that can be utilized in food & beverage industry.
Further key findings from the report suggest:
- Global mixed tocopherols market demand was 83.2 kilo tons in 2014 and is expected to reach 109.7 kilo tons by 2022, growing at a CAGR of over 3.6% from 2015 to 2022
- Vitamin E has antioxidant properties which is increasingly gaining importance in dietary supplements and nutricosmetics industry. Regulatory approval for use of these micronutrients in food and as additives is anticipated to positively impact industry growth. Halal and Kosher approvals for food grades are expected to strengthen market penetration in Europe.
- Animal feed nutrition emerged as the largest application segment with a total demand of over 33.9 kilo tons in 2014. This segment is expected to witness high growth rate over the next six years to account for over 40% to volume share by 2022. Growing importance of animal feed nutrition particularly in economies including China, India, Brazil, and Australia may be attributed for high growth over the forecast period.
- Growing consumer awareness towards organic personal care products along with high rate of commercialization of nutricosmetics is expected to steer demand in cosmetic applications over the forecast period.
- Asia Pacific was the largest consumer and accounted for over 34% of global volume in 2014. Rising disposable income in emerging economies such as India and China is anticipated to drive the market in the region. High production capacities in Asia Pacific give flexibility to the manufacturers to scale up the production depending upon demand trends.
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- North America is expected to witness moderate growth on account of increasing health concerns in the region. Stringent government regulations and Anti dumping laws in North America are anticipated to rise demand for naturally derived products over the foreseeable future.
- DSM, BASF, Cargill Inc., COFCO Tech Bioengineering, ADM, and Fenchem Biotek dominated the global mixed tocopherols market share and together accounted for over 50% of total revenue in 2014. Companies have been constantly involved in developing 100% natural products.