Vitamin E Market Size By Product (Synthetic Vitamin E, Natural Vitamin E [Tocopherol, Tocotrienols]), By Application (Animal Nutrition, Human Nutrition/Dietary Supplements, Functional Food & Beverages, Cosmetics), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016-2024

Published Date: Dec 2016  |  Report ID: GMI335  |  Authors: Kunal Ahuja, Amit Rawat

Report Format: PDF   |   Pages: 223   |   Base Year: 2015

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Global Vitamin E Market size was valued at over USD 2 billion in 2015 and is anticipated to witness over 3.5% CAGR up to 2024.

Global Vitamin E Market

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Changing lifestyle patterns towards consumption of nutritious food coupled with a rise in consumer awareness on the health benefit of various vitamins is expected to boost the vitamin E market growth. Vitamin E offers several benefits such as prevention of hair loss, reduced chances of cardiovascular diseases & cancer, and use in the treatment of Alzheimer's and other dementias. Further, an increasing number of consumers that rely on supplements to fulfil their nutrition need supported by the ease in product availability will propel the business expansion over the forecasted timeframe.

The increasing scope of vitamin E in manifold applications including cosmetic, dietary supplement, animal nutrition, and food & beverage industry will generate new growth opportunities for the manufacturers. The rise in demand for animal nutrition owing to improved feed conversion efficiency along with growth in global animal feed consumption will propel the surge the market size. Rising consumption of poultry and meat products coupled with product uses in improving the quality of meat and taste of meat will fuel the product adoption.

Technological advancement in the field of biotechnology such as modifications in photosynthetic bacteria and plants has resulted in a sufficient amount of Vitamin E production to satisfy the increasing demand owing to wide application potential. Growing research & development activities in the industry to maximize the production and bioavailability of the product will provide lucrative opportunities for the manufacturers in the forecasted timeframe.

Expansion in supply chain framework according to the company and consumer convenience along with the use of advanced technology to manage the flow of the product will create a long-term positive impact. Growing raw material production for synthetic vitamin E will support business advancement over the projected timeline. Further, increasing penetration of the internet has resulted in more consumers purchasing through an online sales channel propelling the sales of end-products such as cosmetics and nutritional supplements, and animal feed.

Modifications in regulations pertaining to food fortification such as maintaining the level of micronutrients in the food as specified by food authorities will support the industry expansion. However, fluctuating raw material prices and increasing production cost due to high initial investments in manufacturing technology can hamper the business development in the short term.

Vitamin E Market Report Coverage
Report Coverage Details
Base Year: 2015 Market Size in 2015: 2 Billion (USD)
Historical Data for: 2013 to 2015 Forecast Period: 2016 to 2024
Forecast Period 2016 to 2024 CAGR: 3.5% 2024 Value Projection: 2.4 Billion (USD)
Pages: 223 Tables, Charts & Figures: 200
Geographies covered (25): U.S., Canada, Germany, UK, France, Italy, Spain, Poland, Russia, The Netherlands, China, India, Japan, Australia, Malaysia, Indonesia, Thailand, South Korea, Brazil, Argentina, Mexico, South Africa, UAE, Saudi Arabia, Turkey
Segments covered: Product and Region
Companies covered (20): American River Nutrition, Inc, Antares Health Products, Inc, Archer Daniels Midland Company, BASF Corporation, DSM Nutritional Products, BTSA-Biotechnologias Aplicados SA, Isochem S.A.S, Vitae Naturals, Beijing Gingko Group, Carotech Inc, Eisai Food and Chemical, Zhejiang Worldbestve Biotechnology Company, Fenchem Biotek Ltd, Palm Nutraceuticals, Riken Vitamin Co Ltd, Vita-Solar Biotechnology Co Ltd, Davos life Science, Vance Group, Cargil, Wilmer Spring Fruit Nutrition Products Co. Ltd
Growth Drivers:
  • Increasing health supplements consumption
  • Growing demand from animal feed industry
  • Increasing application scope in cosmetic industry
Pitfalls & Challenges:
  • Natural Vitamin E supply and demand imbalance

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Vitamin E Market, By Product

Natural vitamin E is expected to witness 6% CAGR up to 2024. Superior bioavailability as compared to its synthetic counterparts improves the overall utilization and absorption of the vitamin. Technological advancements towards new product development coupled with ease in raw material availability are augmenting the industry share. Almonds, peanuts, hazelnuts and vegetable oils including sunflower and soybean are rich sources of vitamin E. Further, penetration of ‘clean label’ movement supported by improved labelling norms has increased consumers awareness regarding nature of ingredients in various products, thereby projected to escalate the demand over the projected timeline.

Synthetic vitamin E holds over 62% share of the overall market in 2015. Cost-effectiveness and ease in raw material availability owing to superior production capacity are among the key factors propelling the segment growth. Higher preference for low-cost raw materials among cosmetics and animal feed manufacturers owing to industry competitiveness particularly in developing economies of the Asia Pacific and Latin America is supporting the synthetic product segment growth. Further increasing prices for natural raw materials may provide lucrative opportunities for synthetic product manufacturers.

Vitamin E Market, By Application

China Vitamin E Market, By Application

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Cosmetics application is expected to witness over 7% CAGR up to 2024. Growing demand for beauty products owing to the increasing consumer purchasing power and per capita income will boost the demand for vitamin E in the forecasted time period. According to Loreal, the global cosmetics industry observed around 4% CAGR from 2010 to 2016, with skin & hair care products holding around 59% of the market share in 2016. Vitamin E is majorly used in skincare and hair care products for reducing hair loss and nourishing skin to its antioxidant properties. Shifting preference towards luxury cosmetics segment owing to penetration of social media, improved spending on advertising, and rapid urbanization will propel the cosmetics demand, supporting the vitamin E industry expansion.

Animal nutrition accounted for over 60% share in 2015 as Vitamin E aids in improving the immune system of animals, maintains the tissue structure and nervous system, thereby contributing to enhanced disease resistance. Rapid growth the global animal feed production is anticipated to fuel the demand up to 2024. For instance, according to Alltech, the global animal feed production has increased by 13% from 2012-2017. Further, the addition of the product in the animal feed improves the meat quality and make it feasible for storage for longer durations. Moreover, the growing demand for meat owing to the rising population will support the industry expansion.

Vitamin E Market, By Region

North America holds the largest share in vitamin E market accounting for over 38% in 2015. Animal nutrition applications hold the largest share in the region, as the U.S. is the second-largest manufacturer of animal feed accounting for around 170 MT in 2016. Natural vitamin E promotes the health of animals and helps improve the stability, compatibility, and handling characteristics of fortified feed. Increasing meat consumption including swine, cattle and poultry in its food industry has resulted in growth in demand for animal feed propelling the product demand. Further, the rise in demand for functional food and beverages owing to a busy lifestyle and increased consumer spending will propel the industry share.

Asia Pacific Vitamin E Market By Country

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Asia Pacific is expected to grow over 6% CAGR by 2024. Asia Pacific accounts for around 35% of the global animal feed production driven by China, India, and Japan. Further, the region holds around 37% of the global cosmetics market share and observes superior growth in demand for skin & hair care products. Increasing demand for cosmetic products owing to lifestyle changes supported by growing middle-class income levels will propel the product demand. Consumer preferences shifting towards eating out and buying packaged food products is expected to surge the vitamin E market through functional food and beverage segment.

Competitive Market Share

Vitamin E industry is competitive in nature with the presence of several regional and global industry participants. The key manufacturers are Archer Daniels Midland Company, DSM Nutritional Products, BASF, Cargill, COFCO Tech Bioengineering and American River Nutrition. Industry players are adopting various strategies including mergers & acquisition, distribution network expansion, technology & process innovations. For instance, in June 2019, Cargill opens its first innovation centre in Singapore to address nutrition and food safety needs. Other notable players include Antares Health Products, Inc, BTSA-Biotechnologies Aplicados SA, Isochem S.A.S, Vitae Naturals, Beijing Gingko Group, Zhejiang Worldbestve Biotechnology Company.

Industry Background  

Robust growth in the global nutraceuticals market is anticipated to complement the business expansion as vitamins account for a substantial share. Vitamin E is a fat-soluble organic nutrient which helps prevent the natural and continuous deterioration of body tissues. Increasing adoption of the product for proper nourishment and eliminate the risk of cancer, heart disease, obesity, and hypertension will upsurge the demand. The adequate consumption of the product by livestock animals aids in manufacturing nutritious meat products. Alpha-tocopherol is added in food supplements for human consumption such as ready to eat cereals and liquid nutrition.

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Premium Report Details

  • Published Date: Dec 2016
  • Pages: 223
  • Tables: 187
  • Charts / Figures: 13
  • Companies covered: 20
  • Countries covered: 25

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