Global Mixed Tocopherol Market will Expand at a 4.6% Over the Period between 2016 and 2024
Albany, NY -- (SBWIRE) -- 11/24/2017 -- Accounting for a nearly 20% share, the company DSM N.V. clearly enjoyed the most commanding position in the global mixed tocopherols market in 2015, report TMR in a recent market research report. The top five companies in the market, including BASF SE, Archer Daniels Midlands Company, COFCO Tech Bio Engineering, Davos Life Sciences, along with DSM N.V., accounted for over 65% share in 2015. As such, the market features a high level of consolidation.
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To break the monotony and gain an edge, key vendors in the market are investing heavily on innovations and R&D activities. TMR analysts suggest that DSM N.V. acquired nearly 18% of the company's overall sales in 2014 from its arsenal of newly launched products. Establishing manufacturing bases in emerging economies, where cheap and easy availability of raw materials plays a key role in bringing down product costs, is also a hot trend among manufacturers of mixed tocopherols in the global market.
Rising Demand for Health Supplements and Increasing Geriatric Population to Boost Mixed Tocopherol Consumption
The rising awareness about healthcare and physical wellbeing among the global population and the rise in the world's global geriatric population at a worrying pace are some of the chief factors leading to the increased global consumption of mixed tocopherols. Tocopherol enriched health supplements for physical endurance and gaining muscle mass and alpha tocopherol supplements for reducing bone fractures are gaining an increased rate of popularity among young and geriatric people, respectively. The popularity of alpha tocopherols is substantiated by claims from renowned health publications such as the American Journal of Clinical Nutrition. A recent report in the journal links the applications of alpha tocopherol-based health supplements with a 22% reduction in bone fractures among adult users.
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Imbalance in Demand and Supply Chain of Mixed Tocopherols to Hinder Market Growth
The global mixed tocopherol market faces the challenge of a massive imbalance in the supply and demand chain, owing to which the global consumer deterred from large scale use of the compounds. Fluctuating prices and shortage in supply of raw materials used for the production of mixed tocopherols has surfaced as a key challenge for the market in the past few years. The global supply of soybean oil distillate, for instance, has seen a downward trend in the past, which, in effect, led to escalated prices. Production of mixed tocopherol from soya bean deodorized distillate (DOD) is also a highly capital-intensive procure, limiting new manufacturers from foraying into the field and seeking alternatives.
Demand from Animal Feed Industry in Emerging Economies Emerge as Key Driving Force
Of the key product types in the global mixed tocopherol market, the segment of gamma tocopherol accounted for the largest share of over 38% in the global market in 2015. The high demand for this variety of tocopherols is continuously rising owing to its effectiveness against a variety of diseases such as Alzheimer's, cataract, and cancer.
Of the key areas of application for mixed tocopherols, the segment of animal feed is currently gaining increased popularity, especially in emerging countries such as India and China in Asia Pacific. The segment accounted for a nearly 39% share in the global market in 2015 and is expected to exhibit a healthy CAGR over the forecast period as well. The high rise in meat and pork consumption across the globe will fortify the trend.
On a whole, the 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.