Vitamin E Market
Vitamin E Market Analysis Report By Type (Tocopherol Vitamin E Products, Tocotrienol Vitamin E Products), By Source (Naturally-sourced Vitamin E, Synthetically-sourced Vitamin E), By Application & By Region - Global Insights 2021 to 2031
Vitamin E Market Outlook
The market for vitamin E to yield an absolute $ opportunity worth US$ 673 Million across the 2021-2031 assessment period.
Market size value in 2020
|USD 2 Billion|
Market forecast value in 2031
|USD 3.3 Billion|
|CAGR of 5.14% from 2021 to 2031|
Historical Data Available for
Key Companies Profiled
The global vitamin E market is expected to register a CAGR exceeding 5% from 2021 to 2031, reaching US$ 3.3 Billion. Consumers are largely inclined towards consuming tocopherol vitamin E products, expected to create an opportunity worth US$ 531 Million until 2031.
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Vitamin E Consumption Analysis 2016-2020 Vs Outlook for 2021-2031
From 2016 to 2020, global sales of vitamin E products expanded at a CAGR of around 4% to surpass US$ 2 Bn by the end of the historical period. Demand has been sustained by increased demand from the food & beverage, cosmetics and animal feed industries respectively.
Sales of vitamin E products surged impressively during the COVID-19 pandemic. A recent study established that vitamins A to E highlighted potentially beneficial roles in the fight against COVID-19 via antioxidant effects, immunomodulation and enhancing natural barriers.
Manufacturers are likely to capitalize on the rising trend of extracting vitamin E from palm oil, given the rising preference for naturally-sourced nutrients and minerals by consumers. Based on these trends, the market for vitamin E is expected to register a CAGR of over 5% from 2021 to 2031.
Why is Palm Oil Sourced Vitamin E acquiring Traction?
As demand for naturally sourced vitamins acquires traction, companies have recently developed techniques to extract vitamin E from palm oil-a major natural source. Palm oil is an economical source of vitamin E, imparting multifarious benefits to the immune system. Palm oil sourced vitamin E possesses antioxidants, anti-cancer properties and cytoprotective actions.
This practice has gained traction amongst South and Southeast Asian businesses, with countries such as India and Indonesia emerging as potential growth hotspots. Furthermore, α-tocotrienol, a vitamin E derivative derived from palm oil, is very acceptable for human ingestion. As a result, palm oil has emerged as an important source of vitamin E extraction.
An Adaptive Approach to Modern-day Research Needs
Why are Livestock Diets and Specialty Pet Foods Incorporating Vitamin E Formulations?
Because of the significant consumption by the animal feed sector, the market for vitamin E is projected to develop rapidly in forthcoming years. Approximately three-fourths of total worldwide vitamin E output is used as an addition in different animal nutrition and animal feed products.
The market opportunity for vitamin E as an animal feed additive is growing as a result of the increased global demand for animal feed. Numerous new specialized products in the pet food industry have provided value-added replacements, therefore increasing vitamin E demand. Existing vitamin deficiencies in pets have prompted pet owners to switch to specialized supplements, driving the industry forward.
How are Functional Food and Beverages amplifying Market Growth?
Global demand for functional foods is anticipated to surge significantly in forthcoming years. Consumer dietary preferences toward nutritious foods such as nuts, cereals, seeds, grains, and carbohydrate-enriched consumable goods will drive business growth.
Furthermore, the rising prevalence of lifestyle illnesses such as obesity, diabetes, cholesterol osteoarthritis, and other cardiovascular diseases is expected to drive the demand for Vitamin E products.
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Country Wise Analysis
Is U.S a Hotspot for Vitamin E Products?
According to Fact.MR, vitamin E products sales in the U.S will amount to 70 kilo tones by 2026. Regional demand will be boosted by strong development in the animal feed industry and increasing meat consumption.
Increasing health issues, such as vitamin deficiencies and gastrointestinal illness occurrences in the region, are paving the way for vitamin E consumption. Furthermore, growing nutritional supplement demand, as well as rising healthcare spending per capita, are significant drivers driving regional market developments.
How Lucrative is the Market Growth in the U.K?
As per estimates provided by Fact.MR, the U.K accounted for 26% of vitamin E demand in 2020. The region is anticipated to experience further growth, expanding at 5% CAGR until 2031.
The growing knowledge of the necessity of nutrients via the usage of supplements, as well as the growing awareness of the importance of living a healthy lifestyle, are driving the natural source vitamin E market in this area.
Why is South Asia an Emerging Hub for Vitamin E Products?
The demand for vitamin E is anticipated to emerge strong across South Asia, attributed to the high output of palm oil across such key countries as India and Indonesia. According to Fact.MR, the market will expand at a CAGR of 7.5% until 2031.
Since FY 2014-15, the Indian government launched the National Mission on Oil Seed and Palm Oil (NMOOP). This initiative is aimed at enhancing domestic productivity of palm oil and other oilseeds. As of 2019, domestic output increased to 278,922 tons, an increase of 45% compared to 2014-15. Hence, availability of palm-oil based vitamin E has surged significantly.
Category Wise Insights
What makes Vitamin E a Popular Choice for the Cosmetics Industry?
The rising number of skin care products on the market today focus on natural components such as vitamins and minerals to preserve healthy and bright skin. A revenue share worth 45% is projected for this segment.
As a result, there is a huge need for vitamin E in cosmetic applications. This includes skin care products such as sun protection SPF forms that contain vitamin E and provide UVA and UVB protection.
In Turkey, for example, Avon created a face care line based on SPF and vitamin E, giving both sun protection and anti-aging effects. In order to ensure healthy skin, the range also includes a number of additional minerals and vitamins.
How are Dietary Supplements driving the Vitamin E Market?
The high popularity of geriatric nutrition is expected to drive sales of vitamin E. Vitamin E is increasingly being used in a slew of geriatric dietary supplements which help address vitamin E insufficiency.
The developed markets of the United States, Japan, and Western Europe have a sizable population over the age of 60. Furthermore, increased awareness from regulatory agencies and health groups has increased the consumption of vitamin E. A CAGR of 6% is projected for this segment.
Will Tocopherol Vitamin E Products Remain in High Demand?
Tocopherols are in high demand in the food and beverage, cosmetics, and animal feed industries, according to the vitamin E landscape. Presence of rich antioxidant properties is stimulating demand, capturing a share of around 2/5th.
However, Tocotrienol consumption is anticipated to rise faster than tocopherol use. Tocopherol, on the other hand, accounted for more than 2/3rd of the vitamin E market in 2019. Furthermore, due to increasing demand from the cosmetics sector, global use of tocotrienols has grown significantly.
Prominent manufacturers seek to capitalize on the untapped potential in emerging markets and are expanding their production capabilities to meet the rising demand for vitamin E in new regions. Market leaders retain a solid position as a result of significant internationalization of firms through export and trade throughout the world. Some recent developments are as follows:
- In June 2021, BASF concluded the sale of its manufacturing site in Kankakee, Illinois, to an affiliate of One Rock Capital Partners LLC, which includes the associated businesses of vegetable-oil based raw material sterols and natural vitamin E products
- In January 2019, Koninklijke DSM NV announced a 75/25 joint venture with Nenter & Co Inc., which includes all of the latter’s production and related assets for vitamin E.
Key Segments Covered
By Type :
- Tocopherol Vitamin E Products
- Tocotrienol Vitamin E Products
By Source :
- Naturally-sourced Vitamin E
- Synthetically-sourced Vitamin E
By Application :
- Vitamin E for Dietary Supplements
- Vitamin E for Animal Feed
- Vitamin E for Food & Beverages
- Vitamin E for Cosmetics
- Vitamin E for Other Applications
By Regions :
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
- FAQs -
By 2021, the global vitamin E market is expected to reach US$ 2 Bn.
Over the projection period, the vitamin E industry is expected to grow at a CAGR of 5.14%.
Increased demand for functional foods & beverages is driving sales of vitamin E products
According to Fact.MR, vitamin E sales expanded by 4% from 2016 to 2020
ZMC Corporation, BASF SE, Zheijang NHU, and Koninklijke DSM N.V. are the leading players in the market.
U.S, India and Indonesia are amongst the top countries driving vitamin E demand
Sales of vitamin E products in the U.S will surpass 70 kilo tons in the short-run
The European Vitamin E Market is expected to expand at a CAGR exceeding 5%
As of 2031, vitamin E sales are expected to reach US$ 3.3 Bn according to Fact.MR
Tocopherols are anticipated to be in high demand, accounting for over 40% of the revenue
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