The global natural vitamin E market is growing at a CAGR of 7.1% during the forecast period (2019 - 2024).
- Various government initiatives are being taken, in order to increase the consumption of fortified food and beverages, especially in the developing countries, like China and India. For instance: the promotion of fortified foods by China’s Ministry of Health, coupled with growing health concerns related to age, myopia in adults, and other diseases, is expected to drive the market studied.
- Consumers are eventually shifting to cosmeceutical, which provides medical alternatives to classical treatments. Consumers are opting for products that do not have chemical ingredients and are infused with naturally sourced essential vitamins including vitamin-E. The introduction of new naturally sourced Vitamin-E ingredients has played a major role in driving the demand for beauty and personal products.
Scope of the Report
The global natural vitamin-E market offers two prominent types of vitamin-E which include tocopherols and tocotrienols. The extensive application of naturally sourced vitamin in the different end-user industry including dietary supplements, fortified/functional food and beverage, beauty and personal care products, pharmaceuticals and animal feed is studied in detail. The report further analyses the global scenario of the market in the regions of North America, Europe, Asia-Pacific, South America and, the Middle East and Africa.
Key Market Trends
Substantial Growth of Global Health and Wellness Industry
The health and wellness industry over the years has become a dominant lifestyle value among the consumers that is profoundly changing consumer behavior towards naturally sourced micronutrients. Owing to multifunctionality and on-going trend of clean label, natural non-GMO vitamin-E is attaining a strong growth in different end-user industries such as cosmetics, dietary supplements, functional food and beverage, and others, making it a major ingredient in above-mentioned industries. The cosmetic industry is expected to attain a great market share during the forecast period due to the increasing number of skincare products being infused with vitamin-E sourced from sunflower oil and other natural sources. Also, beauty from within is one more on-going trend which is leading to increasing application of natural vitamin-E in cosmeceuticals.
North America Emerges As The Largest Market
The healthcare expenditure pattern in the North American countries such as the United States is rising every day, with a growing aged population, advanced technology, better medical facilities, and a rise in the number of insured people. These factors are driving the application of vitamin-E across various end-user industries. According to a report published by Food and Agriculture Organization, Mexico being the largest milk producer in Central America continues to invest in the production of better-quality animal feed with incorporated nutrients, in order to maintain productivity, thereby driving the demand for natural Vitamin-E ingredients. The region also has a significant growth in functional foods with added health and wellness benefits. Rising geriatric population, increasing healthcare costs, changing lifestyles, food innovation have increased market growth. This enhanced the functional food manufacturers to look for ingredients with enhanced benefits to capture the growing demand.
The market for natural Vitamin-E ingredients is fragmented, however, most of the developed market is dominated by key player’s presence. This being said, major players with their unique brand positioning and select distribution network have leveled up against each other in determining their presence across global platforms. Major companies such as BASF, along with Archer Daniels Midland Company are among the active players that have been on the forefront in terms of new product development. The growing demand from various end-use industries supported by extensive R&D focus by the key Vitamin-E ingredient companies across the world to develop innovative products are anticipated to drive the market growth.
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