Vitamin E Market size to exceed $3bn by 2026
Published Date: July 28, 2020 Authors: Kunal Ahuja, Amit Rawat
Vitamin E Market size is set to surpass USD 3 Billion by 2026, according to a new research report by Global Market Insights, Inc.
Growing consumer awareness regarding the importance of nutrients in daily meals will drive the vitamin E industry growth. The rise in demand for animal nutrition products owing to improved feed conversion efficiency along with strong growth of the global animal feed industry will foster the overall industry outlook. It offers numerous benefits including prevention of hair loss, reduced chances of cardiovascular diseases, and positive results for treatment of Alzheimer’s and other dementias.
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. Rising popularity of vitamin E supplements among the millennials and geriatric populace owing to health consciousness will bolster product demand. Increasing number of R&D activities in the industry to provide efficient nutritional solutions and promote vitamin E bioavailability in foods will further escalate vitamin E market trends.
Growing demand for synthetic vitamin E in animal nutrition, and cosmetics sector will foster product demand
Synthetic vitamin E plays a vital role in the cosmetics sector, as they possess excellent moisturizing properties for maintaining healthy and glowing skin. The product segment is set to exceed USD 1.6 billion by 2026. It can also absorb the energy from ultraviolet (UV) light, thus utilized in lotions, sunscreens and anti-aging creams for protection from the sun. Cost-effectiveness and ease in raw material availability owing to superior production capacity are among the key factors propelling the segment growth.
Rise in animal feed production across the globe will surge their utilization rates. Higher preference for low-cost raw materials among the animal feed manufacturers owing to industry competitiveness particularly in emerging economies in Latin America and Asia Pacific regions, this will fortify the segment growth. Moreover, increasing prices for natural raw materials may provide lucrative opportunities for synthetic ingredient manufacturers.
“Synthetic vitamin E market is set to register over 4.5% CAGR between 2020 and 2026 owing to robust utilization in cosmetics and animal feed industries”
Browse key industry insights spread across 220 pages with 187 market data tables and 10 figures & charts from the report, “Global Vitamin E Market Statistics 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, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Increasing product utilization in animal nutrition sector to fuel Vitamin E market demand
Vitamin E is considered as a key ingredient for improving growth performance, immunity, cell function, and nutrient digestibility in ruminants, poultry, pets, and other farm animals. It helps to maintain the structural integrity of tissues and improves the intestinal health by promoting bacterial community, thus allowing proper gut microbiota, disease resistance, and intestinal barrier functions in animals. Global animal health and nutrition market is anticipated to witness significant gains of over 5.5% through 2026. These factors will have a positive impact on the global market forecasts.
“Vitamin E market from animal nutrition application is poised to achieve over 4% CAGR from 2020 to 2026 owing to increasing prevalence of liver necrosis, mulberry heart disease, digestion and weight problems in companion animals”
As per regional market analysis, rapid expansion of the nutraceuticals sector in India, China, Japan, and South Korea will drive the product adoption rate in the region. The region is characterized by strong potential market for cosmetics, functional foods & beverage products, and animal feed. Shifting consumer preference towards highly nutritious food along with favorable guidelines provided by the government agencies for dietary supplement products have instilled trust amongst consumers of these products. Also, factors such as liberalization of FDI in food industry, rising purchasing power and consumer awareness for maintaining health & fitness will further augment the business expansion in the region.
Key market participants in vitamin E market are DSM, BASF, Cargill, ADM, Antares Health Products, American River Nutrition and COFCO Tech Bioengineering.
Several market players are also involved in various strategies and initiatives including technological advancements, product launches, and mergers & acquisition in order to gain substantial market share.