Vitamin E Market size is anticipated to record over 4.3% CAGR from 2023 to 2032, due to the surging consumer preference for natural and organic ingredients, mainly in the cosmetics and food sectors.
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The growing awareness regarding the health benefits owing to its potential antioxidant properties and prominent role in immune support is driving the demand for vitamin E in supplements and fortified foods. The rising concerns over the usage of synthetic forms has propelled the higher interest in natural sources of vitamin E, such as mixed tocopherols and tocotrienols on account of its healthier and more environmentally friendly benefits. The evolving regulatory support for the adoption of vitamin E in various industries will also prove favorable for the industry growth.
|Vitamin E Market Size in 2022:||2.3 Billion (USD)|
|Forecast Period:||2023 to 2032|
|Forecast Period 2023 to 2032 CAGR:||4.3%|
|2032 Value Projection:||3.0 Billion (USD)|
|Historical Data for:||2018 to 2022|
|No. of Pages:||220|
|Tables, Charts & Figures:||197|
|Segments covered:||Product, Application, Region|
|Growth Drivers:|| |
|Pitfalls & Challenges:|
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The surging consumer focus on sustainable practices for vitamin E production and sourcing will contribute substantially to the industry growth. To quote an instance, in August 2022, scientists at Agriculture Canada collaborated with the University of Manitoba to develop a new process for extracting oil loaded with vitamin E from canola seeds. However, the imbalance in supply and demand of natural vitamin E due to limited sources of soybean, sunflower, and wheat germ influenced by agricultural factors, such as weather, pests, and crop yields may hamper the product demand to some extent.
The COVID-19 pandemic positively influenced the industry growth due to the heightened awareness about the importance of healthy immune system and the subsequently rising consumer interest in immune-boosting supplements. The increasing R&D activities in nutrition also led to the introduction of new and innovative vitamin E products. For instance, in July 2021, researchers from the University of Alabama United States highlighted the importance of water-soluble derivatives of vitamin E in exhibiting potent antiviral activity against the COVID-19 infection.
The rising R&D activities for the development of new applications and products of vitamin E and its various forms due to their potential health benefits will influence the industry growth. To illustrate with an instance, in April 2022, research conducted at the University of Texas MD Anderson Cancer Center revealed that vitamin E helps in enhancing immunotherapy responses as it stimulates the activity of dendritic cells within the tumor. Moreover, the increasing research for focusing on the potential role of vitamin E in mitigating the risk of cardiovascular diseases will also contribute to the industry expansion.
Based on type, the industry share from the natural vitamin E segment, comprising tocopherols and tocotrienols, is set to witness immense traction through 2032.
The cosmetics application segment in the vitamin E market will grow at 5% CAGR between 2023 and 2032.
North America vitamin E market size is slated to show tremendous growth through 2032, owing to the presence of stringent government regulations to limit the adoption of synthetic ingredients in cosmetics and nutraceutical products. The escalating per capita healthcare spending along with the emerging health and wellness trends to counter obesity and diabetes in the region is pushing the popularity of vitamin E supplements and fortified foods. As per CDC (Centers for Disease Control and Prevention), the obesity prevalence among half of the U.S. population recorded more than 35% in 2022. The rising rate of vitamin deficiency along with the surging meat consumption will also favor the regional market demand.
Prominent vitamin E companies, such as DSM provide extensive portfolio of various forms of vitamin E for covering all applications. These firms are also constantly engaged in joint ventures, new product developments, partnerships, and innovations to proliferate their global presence and match the rising end-user requirements.
Some of the major vitamin E industry contenders include:
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The above information has been provided for the following regions and countries: