Tocotrienol Market Size, Share & Trends Analysis Report By Product (Alpha, Beta, Gamma, Delta), By End-use (Dietary Supplements, Pharmaceuticals, Cosmetics, Others), By Region, And Segment Forecasts, 2024 - 2030

Research Methodology

A three-pronged approach was followed for deducing the tocotrienol market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for tocotrienol market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of tocotrienol market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Tocotrienol Market Categorization:

The tocotrienol market was categorized into four segments, namely product (Alpha, Beta, Gamma, Delta), end-use (Dietary Supplements, Pharmaceuticals, Cosmetics), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The tocotrienol market was segmented into product, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The tocotrienol market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into sixteen countries, namely, the U.S.; Canada; Mexico; Germany; UK; France; Italy; Spain; China; Japan; India; South Korea; Brazil; Argentina; Saudi Arabia; South Africa

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Tocotrienol market companies & financials:

The tocotrienol market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• BASF BASF, established in 1865 and headquartered in Germany, is a significant market player with a diverse product portfolio that includes plastics, chemicals, performance products, crop protection products, and oil & gas. The company caters to various end-use industries such as agriculture, chemicals, automotive & transportation, energy & resources, paints & coatings, and plastics & rubber. With over 112,000 employees and 380 production sites across North America, Europe, Asia Pacific, South America, Africa, and the Middle East, BASF has a global presence and is a key player in the market.

• BTSA Biotechnologías Aplicados SA BTSA Biotechnologías Aplicados SA, a prominent player in the market, was established in 1994 and is based in Spain. The company specializes in the manufacturing of vitamin E and natural antioxidants, catering to various industries such as dietetics, cosmetics, food, and healthcare. Since 2003, BTSA has been involved in marketing raw materials and special formulations for companies related to cosmetics, dietetics, food, and pharmaceuticals. In 2003, the company expanded its operations to Fuenlabrada, Madrid, and in 2005, it launched two products, Biomega-Tech and Omega 3, extracted from different fish varieties with varying concentrations of EPA and DHA.

• American River Nutrition, Inc. American River Nutrition, Inc. is a major market player in the tocotrienol industry, established in 1998 and headquartered in the U.S. The company specializes in the manufacturing of delta tocotrienols in their purest form, with their flagship product, DeltaGold, being a tocopherol-free, natural tocotrienol that is registered under the Generally Recognized As Safe (GRAS) category for usage in the food and beverage application industry. DeltaGold is highly used for cardiovascular diseases and has many more potential addressable applications. The company was founded by Dr. Barrie Tan, an expert in studies related to lipid-soluble materials such as carotenoids, tocotrienols/tocopherols, CoQ10, omega-3s, and cholesterol.

• Eisai Food & Chemical Co., Ltd. Eisai Food & Chemical Co., Ltd., a significant player in the tocotrienol market, was founded in 2004 and is based in Japan. The company, which became a member of MitsubishiKagaku foods corporation in 2016, has a scope of business that includes pharmaceuticals, cosmetic raw materials, food ingredients & additives, supplements & nutrition, and vitamins. Its product portfolio comprises pharmaceutical products, cosmetic products, food additives, synthetic vitamin E products, and natural vitamin E products.

• Vance Group Ltd. Vance Group Ltd., a Singapore-based company, is a major player in the tocotrienol market, with three business segments: Vance bioenergy, Vance nutraceuticals, and Vance chemicals. Under Vance nutraceuticals, the company has developed its own proprietary vitamin E concentrate named Fortrienol, derived from palm oil and containing concentrations of tocotrienols and alpha-tocopherol. Fortrienol is mainly used in dietary supplements, cosmetics, skin care products, and functional food & beverage applications. The company's manufacturing facility, Tocotrienol Rich Fraction, is located in Malaysia within the site as Vance Bioenergy. 

• ExcelVite Inc. Carotech Bhd., a Malaysian company founded in 1992, changed its name to ExcelVite Inc. in February 2015. The company is a major player in the tocotrienol market and operates the first and only integrated plant in the world to commercially extract a potent form of natural Vitamin E, commonly known as Super Vitamin E, mixed carotene complex, and phytosterols from palm fruits. This extraction technology is protected through a worldwide patent (US Patent No. 5,157,132). ExcelVite Inc. has successfully carved a niche in the market and has become a leading producer of Tocominâ, a natural full-spectrum palm tocotrienol complex, with a strong presence in the United States, Europe, Japan, and Australia. The company's products are widely used in pharmaceutical products, functional food/drinks, and cosmetic/personal care applications. ExcelVite Inc. has also expanded its product range to include a natural lycopene extract from tomatoes named Lycomaxä. 

• Davos Life Science Ltd. Davos Life Science Ltd., based in Singapore, is a subsidiary of Kuala Lumpur Kepong Berhad (KLK), a publicly listed plantation and oleochemical group. The company is a major player in the tocotrienol market, specializing in the manufacturing and supply of palm tocotrienols in four isoform types: alpha, beta, delta, and gamma. These tocotrienols are derived from palm fruits and are known for their preventive properties against diseases such as cancers, cardiovascular diseases, and metabolic syndrome, as well as their applications in skincare. Davos Life Science Ltd. has its research work published in various reputable journals, including the International Journal of Cancer, Journal of Atherosclerosis, British Journal of Cancer and Thrombosis, and the Pigment Cell & Melanoma Research. The company's flagship product, Naturale3, has achieved the Generally Recognized As Safe (GRAS) status and is approved by the U.S. Food and Drug Administration (FDA).

• SourceOne SourceOne Global Partners, a leading provider of health and wellness solutions, is committed to delivering innovative products through scientific research. The company serves various industries, including functional food and beverage, nutritional supplements, medical food, and personal care applications. To ensure the quality of its products, SourceOne utilizes advanced analytical tools and adheres to stringent Quality Source Standards (QSS). Additionally, the company collaborates with universities, clinical research organizations, and medical institutions, and has formed partnerships with several companies to further its research and product development initiatives.

• Orochem Orochem Technologies Inc., established in 1996 and based in the U.S., initially operated as a biotech and chromatography company, focusing on the production of unique Sample Prep Technology "Products" for bioanalysis, drug discovery, genomics, and proteomics markets. Over the years, the company expanded its product portfolio to include bioanalytical sample and analysis, chromatography, simulated moving bed chromatography, omics, contract services, and high throughput lab process automation. Orochem's offerings cater to various services, such as contract manufacturing, methods development, and designing medical services. In 2001, the company introduced the Protein Crash and Precipitation 96 well-plate for bioanalysis processes, and in 2006, it acquired Column Engineering Inc., a specialist in silica manufacturing for analytical and preparatory chromatography. Orochem owns manufacturing facilities in Lombard and Naperville, where it produces membrane filter plates, silica, silica bonding, HPLC columns, and solid phase extraction products. The company also distributes its products to several countries, including Canada, China, Korea, France, Ireland, India, and Mexico.

• Cayman Chemical Cayman Chemical, established in 1980 and headquartered in Michigan, is a prominent supplier of a wide range of biochemical products, distributing its offerings to over 100 countries. The company specializes in the purification, synthesis, and biochemical characterization of various compounds, including small heterocyclic drugs, fatty acids, and complex biolipids. Cayman Chemical is actively involved in pre-clinical drug discovery programs, with a focus on areas such as muscular dystrophy, oncology, inflammation, and bone restoration and repair. The company has obtained double accreditation to ISO/IEC 17025:2005 and ISO Guide 34:2009 from ANAB Accreditation Services, showcasing its commitment to quality and excellence in its operations.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Tocotrienol Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 - 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Tocotrienol Market Report Assumptions:

• The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.