Preventive medicines and dietary supplements are witnessing high demand growth on the back of increased nutritional requirements thus bolstering the growth of vitamin E market. The scope of vitamin E is further enhanced owing to improved feed conversion efficiency along with high consumption of animal feed. Dietary supplement trends are projected to create remunerative opportunities for vitamin E market during forecast period. This has consequently augmented demand for micronutrient additives, which has further propelled the demand for vitamin E in the value chain.
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Demand for vitamin E is anticipated to grow exponentially and is projected to create an absolute $ opportunity of US$ 673 Mn during forecast period 2020 – 2030. Food and beverages trends for nutritious food is projected to push the growth of vitamin E market across the globe. The baby boomer segment is seeking out vitamin E to prevent chronic ailments such as cardiovascular diseases, osteoporosis, and memory loss caused by ageing.
Key Takeaways of the Global Vitamin E Market
- Tocopherol type of vitamin E accounts for more than three fourth market share and is anticipated to witness an upward growth trajectory in Vitamin E market during period of forecast 2020 – 2030 owing to the increased additive application in animal feed and food industry.
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- Synthetic vitamin E is a major contributor to the global vitamin E market and is projected to grow 1.5X over period of forecast 2020 – 2030, owing to increased consumption of synthetically formulated vitamin E in United States, Europe and Asian countries in the past-half decade.
- Regionally, North America and Europe collectively hold around two thirds of the market share. However, South Asia and East Asia are projected to grow at a higher CAGR than the global average.
- South Asia Vitamin E market is anticipated to hold more than 7.5% market share in terms of value and are likely to gain 190 BPS over forecast period 2020 – 2030.
Strategic Production and Capacity Expansion of Market Players to Point to Further Consolidation
Altogether vitamin E manufacturers are selling around 112 kilotons volume annually to end use industries including animal feed industry, dietary supplements, food and beverages, cosmetics etc where, North America and Europe are highly concentrated markets from the buyer-side as well as from the supply-side. These regions account for more than two-third of the overall vitamin E market. However, several companies have production plants in Asia Pacific owing to economical productio and therefore export vitamin E to developed markets such as United States, Germany, France, Australia etc.
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The increasing demand for vitamin E has attracted manufacturers to raise their production capacities of vitamin E. For instance, in year 2019, DSM announced its joint venture with Nenter in China. DSM has invested more than US$ 150 Mn in a deal with Nenter to form a joint venture partnership in order to expand its production capacity.
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