Global mixed tocopherols market size was estimated at 83,208.6 tons in 2014. Growing vitamin E consumption in food and dietary supplements owing to rising health concerns is anticipated to drive growth over the forecast period. The ability of vitamin E to dissolve in digestive fat to prevent heart and blood vessels diseases including heart attack, hardening of the arteries, chest pain, high blood pressure and joint pain have spurred mixed tocopherols demand in recent years.
Health benefits associated with vitamin E to treat deficiency and diseases such as lung, oral, colorectal and pancreatic cancer; polyps, and gastric is also anticipated to drive mixed tocopherols industry growth. Surging demand in pharmaceuticals for treating diabetes, Alzheimer’s disease, dementias, Parkinson’s disease, night cramps, restless leg syndrome, epilepsy, Huntington’s chorea, is further estimated to steer industry growth over the forecast period.
Additionally, vitamin E reduces side-effects of medical treatments such as radiation and dialysis along with minimizing unwanted side effects of drugs such as hair loss in doxorubicin medication and lung damage in amiodarone medication which is also expected to have a positive influence on the market growth. Consumption of vitamin E increases energy, physical endurance, reducing muscle damage and improving muscle strength coupled with treating diseases such as asthma, cataracts, respiratory infections, aging skin, sunburns, skin disorders, infertility, impotence, cystic fibrosis, chronic fatigue syndrome, peptic ulcers and allergies which is expected to augment the industry over the next seven years.
Regulatory approval to use mixed tocopherols as antioxidants for food and as additives in nutrient preparations in infant formula will also impact the market positively. In Europe, mixed tocopherols have been approved to be used as antioxidants and feed additives. High capital investment coupled with rising raw material cost is expected to hinder market growth over the forecast period. Kosher and Halal approvals of food grade mixed tocopherols are expected to increase market penetration in Europe.
U.S. mixed tocopherols market revenue by product, 2012-2022, (USD Million)
Mixed tocopherols are commercially available as a mixture of various tocopherols including alpha, beta, gamma, and delta. Alpha rich was the largest product segment in terms of consumption with a total demand of over 30 kilo tons in 2014. Alpha rich is being increasingly used in animal feed industry particularly in Europe.
Gamma rich is expected to witness the fastest growth in next seven years to reach a net worth exceeding USD 1,450 million by 2022. The segment is estimated to grow at a CAGR of 5.8% in terms of value from 2015 to 2022. On account of high nutritional value provided in food & beverage industry, the product is increasingly used in dietary supplements particularly in the U.S. and is expected to witness rapid growth over the forecast period. Rising nutricosmetics and food supplements demand particularly in Mexico is also estimated to steer product demand in the region.
Gamma-delta rich combination products were estimated to generate the highest revenue in 2014 on account of significant demand coupled with a high price as compared to other counterparts. The segment accounted for over 30% of the total revenue share in 2014.
Animal feed dominated the global market accounting for over 40% of the volume share and is anticipated to be the fastest growing application segment over the foreseeable future. Increasing meat consumption especially in countries including U.S., China and Brazil may be attributed to the rapid growth of this segment.
Cosmetics are anticipated to witness high growth owing to increasing demand of vitamin E in the organic personal care products. The segment is anticipated to grow at a CAGR of 3.7% from 2015 to 2022. Rising nutricosmetics consumption in economies including China, India, Vietnam, UK and U.S. is estimated to stimulate market penetration in the segment in next seven years.
Asia Pacific, mixed tocopherols market, dominated the global demand accounting for over 32% of the total volume share in 2014 and is expected to remain the largest regional segment on account of rising meat consumption in the majority of the economies over the forecast period. Demand in the region is expected to reach 39.3 kilo tons by 2022. China is expected to witness considerable growth both in terms of production and consumption over the next seven years on account of low raw material costs and expanding end-use industries.
North America is expected to grow at a CAGR of over 5% over next seven years on account of growing health concerns in the region. Anti-dumping laws and stringent government regulations in the region are expected to augment demand for naturally derived products over the forecast period.
Europe is expected to witness moderate growth rates in near future on account of stagnant animal feed industry in the region. Latin America and Africa is anticipated to witness rapid growth over the forecast period on account of increasing meat consumption and growing cosmetic industry particularly in emerging markets of Brazil and South Africa.
BASF, DSM, ADM, and Cargill dominated the industry, accounting for over 70% of the market share in 2014. Major players operating in the global industry are shifting towards manufacturing of synthetic vitamin E on account of rising naturally derived counterpart prices.
Key companies operating in the global mixed tocopherols market include BASF, DSM, COFCO Tech Bioengineering Archer Daniels Midland Company (ADM), Cargill Inc. and Fenchem Biotek. Other companies having a significant presence in the industry include BTSA, Antares Health Products Inc., American River Nutrition Inc., Vitae Naturals and Davos Life Science.
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