Tocopherol to Remain as the Major Revenue Contributor to Vitamin E Market, Finds Fact.MR
Alerted by existing vitamin deficiencies among livestock and pets, owners are increasingly shifting toward animal nutrition, and specialty products, thereby, boosting the adoption of vitamin E.
"Influenced by evolving lifestyle patterns, consumers worldwide are accelerating their shift toward functional food & beverages. Moreover, recent studies suggest that vitamin E is a highly preferable natural ingredient for skin treatment. As such, vitamin E is making inroads into the cosmetic industry as a key nutrient for various skin care products," opines Fact.MR in its new study.
Vitamin E Market: Key Findings
• Given upsurge in application in animal feed and food sector, tocopherol type of vitamin E continues to remain sought-after.
• Consumption of synthetic vitamin E will be prominent, especially in developed regions.
• North America and Europe capture about 2/3 of overall vitamin E market value; markets in East Asia and South Asia to grow rapid CAGR.
• Market players are increasing their production capacities in a bid to enhance their global footprint.
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Vitamin E Market - Key Driving Factors
• Significant shift toward health-centric food & beverages to bolster market growth.
• Increasing worldwide demand for animal feed to boost consumption of vitamin E.
• Surging adoption in skin solutions - sunscreens, lotions, anti-aging formulations - to offer lucrative opportunities to manufacturers.
• Rise in spending on animal nutrition and feed including, poultry feed, starter feed, and nutritional feed, to sustain value creation.
Vitamin E Market - Key Restraints
• High costs associated with naturally-sourced vitamin E to hinder revenue growth.
Impact of Covid-19
Vitamin E has long been considered as an essential nutrient in combating infectious diseases, owing to its role in safeguarding body cells from the stresses of oxidation. In addition, vitamin E has also displayed success in combating the condition of bovine coronavirus.
Consequently, vitamin E in foods and supplements are anticipated to gain traction among health-conscious consumers, as they seek to bolster their immune systems. The trend is expected to continue through the forecast period.
Players covered in the vitamin E market include ZMC Corporation, BASF SE, Zheijang NHU, Koninklijke DSM N.V., Jilin Beisha Pharmaceutical Co. Ltd., Wuhu Huahai Biology Engineering Co.,.
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