Vitamin E Market size was worth over $2bn in 2015 with estimated gains at more than 3.5% to 2024 says this industry forecast report based on products (Synthetic Vitamin E, Natural Vitamin E [Tocopherol, Tocotrienols]), applications (Animal Nutrition, Human Nutrition/Dietary Supplements, Functional Food & Beverages, Cosmetics) and more.
Sellbyville, DE -- (SBWIRE) -- 02/26/2019 -- The Vitamin E Market is expected to exceed USD 2.4 billion by 2024; according to a new research report by Global Market Insights, Inc. Increased consumer affordability coupled with rising health concerns should drive global vitamin E market size. Rising applications scope in pharmaceutical industry for treating Alzheimer's infection, diabetes, night cramps, Parkinson's disease, epilepsy, traumatic brain injury, multiple sclerosis, cerebral palsy and Huntington's disease, is evaluated to fuel industry development.
Rich food sources include vegetable oils, sunflower seeds, peanuts, broccoli spinach, and avocado. Naturally sourced products are gaining wide acceptance in anti-aging creams, lotions, sunscreens, lipsticks, and creams.
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U.S. vitamin E market size for functional food & beverages was worth over USD 50 million in 2015. Rising concern to maintain immunity and health along with increasing consumer preference for functional foods will benefit the industry growth. Rising healthcare cost is among the key reasons fueling dietary supplement demand in U.S., Germany, and UK.
Cosmetic applications accounted for over 5% of the total demand in 2015 and are likely to witness fastest growth. Cosmetic industry is projected to be an attractive application segment owing to its essential properties including improvement in UV protection and moisture content. It also helps in increasing sunscreen ingredients effectiveness and preventing melanin deposits.
Initiatives from the government, to create awareness towards "green" and "eco-friendly" and additionally "healthy" procedures, which are related to "organic" or "natural" products may favor the vitamin E market share.
Rising regulatory compliances pertaining to toxic chemical additives inclusion in personal care and food & beverages products should fuel product demand. Raw material shortage along with supply demand imbalance may impact vitamin E market price trend.
Key insights from the report include:
Natural vitamin E market size generated over USD 600 million in 2015 and is set witness over 5% CAGR up to 2024. Vitamin E animal feed accounted for over 65% of the total demand in 2015 and is foreseen to grow over 4%. Offering efficient membrane antioxidants and has wide physiological benefits, including supporting neural growth, maintaining tissue's structural integrity, and modulating immunity and reproduction are key influencing factors product demand in this segment.
Global function food & beverages is foreseen to witness over 5% growth. Positive regulatory compliances pertaining to nutrient inclusion in consumer products are positively driving industry growth. China vitamin E market in dietary supplements were over USD 16 million in 2015. Wide product availability in health food stores and grocery stores are the key factors fueling the product demand. These products have a large acceptance among consumers owing to their visible benefits including ease from illness, youthful vigor, and good health.
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Geriatric population ratio is increasing in Japan, with more people moving towards precautionary supplements to help them stay healthy. Human nutrition and functional food together accounts for 24% of the country demand. Global vitamin E market share is consolidated with top five companies holding 50% of the global demand in 2015. ADM, Cargill, COFCO Tech Bioengineering, BASF, and American River Nutrition are major industry players.