Natural Source Vitamin E Market : Tocopherols to Remain Largest Contributor to Market’s Growth

The global market for natural source vitamin E is largely driven by a substantial rise in the healthcare awareness among the global population, strengthening distribution channels, and rising affordability of products. The market struggles from the declining supply of deodorized distillates, which are the key raw materials used for manufacturing natural vitamin E, which is resulting in increased costs of products.

However, the sustainable demand from the increasingly affluent consumer base, especially in developing regions such as Asia Pacific, will enable the market tread along an excellent growth path in the next few years. Transparency Market Research states that the global natural source vitamin E market will expand at a 12.8% CAGR from 2016 through 2024. The market, which was worth US$765.6 mn in 2015, is expected to rise to US$2,251.7 mn by 2024.

Tocopherols to Remain Largest Contributor to Market’s Growth

Natural source vitamin E is available in the market in two varieties: tocopherol and tocotrienol. Of these, the segment of tocopherol emerged as the largest revenue contributor to the global natural source vitamin E market in 2015, accounting for a share of nearly 65% of the market’s overall revenues. The segment is expected to retain its position as the leading revenue contributor to the global market in the next few years as well, majorly owing to its vast usage in dietary supplements.

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Though tocotrienols are several times more effective as anti-oxidants than tocopherols, they are poorly absorbed during digestion, are rapidly metabolized, poorly distributed to blood cells, and are easily and more rapidly eliminated from the body. As such, their application is rather limited only to the cosmetics field, which accounts for a smaller share in the global natural source vitamin E market. However, the rising global demand for anti-ageing creams will enable the tocotrienols segment gain a slight rise in its share in the global market by 2024.

Dietary Supplements Emerge as Leading Application of Natural Source Vitamin E

Of the key applications of natural source vitamin E, including their usage across dietary supplements, food and beverages, cosmetics, and animal feed, the segment of dietary supplements accounted for nearly half of the overall market in 2015, with the food and beverages and cosmetics segments accounting for nearly 33% and 11%, respectively, of the market in the said year.

The rising consumer awareness regarding health and wellbeing and the willingness to pay more for products that come with the promise of preventing chronic diseases and promoting longevity are central to the rising global consumption of vitamin E-based dietary supplements. Expansion of distribution chains and easy availability of vitamin E-based dietary supplements in varieties such as energy drinks, capsules, and tablets have also boosted their consumption, especially across remotely located emerging regional markets.

Rising Awareness about Health and Wellbeing in Asia Pacific Boosting Consumption of Natural Source Vitamin E

Developed regions such as North America and Europe contribute a major significant share to the overall global consumption of natural source vitamin E. in 2015, North America accounted for a share of nearly 40% while Europe accounted for over 26% in the global natural source vitamin E. The high awareness regarding healthy lifestyles and the necessity for consuming nutrients through supplements for the same and the presence of an excellent chain of distribution channels make these regions high-impact drivers of the market. A decent level of affordability owing to high disposable incomes also encourage the increased consumption of natural source vitamin E in North America and Europe.

Over the period between 2016 and 2024, the market for natural source vitamin E is expected to witness the most promising returns in Asia Pacific. Transparency Market Research analysts state that the market in Asia Pacific will expand at a 13.3% CAGR over the said period, with China emerging as the most attractive country for the natural source vitamin E market in the region. Factors such as rising disposable incomes, growing awareness regarding health and wellbeing, and easy availability of vitamin E products owing to strengthening distribution channels will allow the regional market be highly fruitful in the next few years.

Some of the leading vendors in the market are Archer Daniels Midlands Company, Wilmar Spring Fruit Nutrition Products Co. Ltd., BASF SE, DSM N.V., Riken Vitamin Co. Ltd., Eisai Food and Chemical, and Zheijang Worldbestve Biotechnology

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