WELLESLEY, Mass., Oct. 08, 2018 (GLOBE NEWSWIRE) -- Growing demand for soybean oil-based and rapeseed oil-based mixed tocopherols are two of the drivers fuelling the global tocopherols market, according to a report by BCC Research.
The industry expects to see a compound annual growth rate (CAGR) of 4.7% through 2022, when it could be worth nearly $5.4 billion, according to the report Mixed Tocopherols: Technologies and Global Markets.
Major players in the market include Archer Daniels Midland, BASF, DSM, Danisco, Carpenter and Wilmar Spring Fruit Nutrition Products.
Research Highlights
- In terms of volume, the market expects to grow from 115.4 kilotons in 2017 to 142.7 kilotons in 2023, yielding a CAGR of 3.6%.
- Demand for mixed tocopherols is highest in Europe, which accounted for 35.6% of the global market by value in 2017. European demand is strong due to the use of mixed tocopherols in dietary supplements and feed industries.
- Growth will be moderate in the Asia-Pacific region, which expects a CAGR of 4.6% through 2023.
“Each tocopherol variety has specific applications and health benefits,” noted report author Kunal Majumder. “Alpha tocopherol helps in building the immune system against viruses and pathogenic bacteria. Beta tocopherol helps in trapping reactive nitrogen oxides, which can cause degenerative diseases when they accumulate in the body. Gamma tocopherol is a form of vitamin E and has a significantly higher share in the mixed tocopherol market than other tocopherols. It offers more efficient antioxidant activities than other tocopherols.”
Volatility in Raw Material Prices May Restrain Market
One factor which may restrain market growth, the report adds, is volatility in raw material prices. Volatility has been particularly noticeable the past 2-3 years due to a lack of agricultural production, unfavourable weather conditions, and anti-dumping activities by different countries. For example, in June 2017 the United States imposed anti-dumping duties on soybean oils from Argentina and Indonesia, an act which is anticipated to decrease soybean oil sourcing in the U.S. and result in a supply-demand gap.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.