Global Mixed Tocopherol Market will expand at a 4.6% over the period between 2016 and 2024; the market, which had a valuation of US$2,032.2 mn in 2015, will rise to US$3,040.2 mn by 2024 at this pace
Albany, NY -- (SBWIRE) -- 05/04/2017 -- Global Mixed Tocopherol Market: Snapshot
Mixed tocopherol, a potential source of vitamin E, is a vital part of human diet and offers significant health benefits. The increasing health consciousness across demographics, especially among geriatric population, coupled with the rising awareness related to health benefits of pharmaceutical supplements, has strongly stimulated the demand for mixed tocopherols for the general well-being.
In the recent few years, the market has witnessed significant demand for mixed tocopherol formulations to treat a wide range of diseases such as restless leg syndrome, Parkinson's disease, Huntington's chorea, and neurogenic problems. Several renowned health journals, such as the American Journal of Clinical Nutrition, have reiterated on the numerous benefits of alpha tocopherol supplements, notably in the reduction of bone fractures. These developments herald for a positive growth of the market in the coming years.
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The global market for mixed tocopherol market was valued at US$2.03 bn in 2015. Rising at a CAGR of 4.6% from 2016 to 2024, the market is expected to reach a valuation of US$3.04 bn by the end of the forecast period.
Asia Pacific Market to Outpace Others in Mixed Tocopherol Consumption
On the basis of geography, the global market is segmented into Europe, Asia Pacific, Latin America, North America, and the Middle East and Africa. Of these, Europe and North America lead the global market; the combined share of these regional markets accounted for 60% in 2015. Europe was the largest regional market garnering a share of more than 32% in the same year. The robust growth of the regional market is attributed to a fast burgeoning pharmaceuticals and food industries that have spurred the demand for tocopherol supplements.
Meanwhile, Asia Pacific is anticipated to grow at the highest CAGR and outpace other regional markets. A substantial chunk of the demand for mixed tocopherols in the region will come from animal feeds, cosmetics, and pharmaceuticals. In addition, the abundant availability of raw materials at relatively lower costs, particularly palm and coconut oil, has brought down the cost of production, propelling the market. In addition, a rising geriatric population has fuelled the demand for mixed tocopherol supplements.
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Animal Feeds to Contribute Lion's Share of Demand for Mixed Tocopherols
Based on product, the global mixed tocopherol market is segmented into alpha tocopherols, beta tocopherols, gamma tocopherols, and delta tocopherols. The gamma tocopherol segment is anticipated to register a CAGR of 5.2% during 2016–2024. Gamma tocopherols are found to be increasingly useful in treating a wide spectrum of ailments, particularly Alzheimer's, cataract, and various types of cancer. Furthermore, ongoing researches in gamma tocopherols have led to the discovery of anti-inflammatory properties of gamma tocopherol, which will boost its demand in a variety of drug formulations in the pharmaceutical industry.
Based on application, the mixed tocopherols market is segmented into pharmaceuticals, dietary supplements, and animal feed; of these, the animal feed segment has gained traction across various regions, particularly in the emerging markets of Asia Pacific, such as India and China. The segment accounted for a global share of around 39% share in 2015 and is anticipated to grow at an impressive CAGR over the forecast period. The significant growth in this segmental market is driven by surge in consumption of meat and pork.
Some of the top companies in the market are BASF S.E., COFCO Tech Bioengineering, DSM N.V., B&D Nutritional Ingredients, Inc., Advance Organic Material S.A., Davos Life Science Pte. Ltd., and The Archer Daniels Midland Company.