NEWARK, Del, Oct. 26, 2023 (GLOBE NEWSWIRE) -- The tocopherol market is likely to hold a valuation of US$ 32.66 billion by 2033. As of 2023, the market value is US$ 15.99 billion. As the demand for organic vitamin E supplements foresees growth, the tocopherol market, too, is expected to grow by 7.4% from 2023 to 2033.
The demand for tocopherol in a broad spectrum of industries, such as food and beverages, pharmaceutical, and nutraceutical sectors, has experienced a substantial surge, thanks to the growing demand for plant-based dietary supplements in the general population. Tocopherol reduces the risk of many chronic diseases, such as diabetes, stroke, and CVD (cardiovascular diseases). Athletes and fitness enthusiasts also use it as an alternative to animal-based supplements.
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Tocopherol is a natural antioxidant to rejuvenate cells, effectively stopping hair and skin aging. The significance of tocopherol in the skincare and cosmetics industry has been proliferating as more people become increasingly aware of their looks. The tocopherol market fetches significant revenue from the global cosmetics industry due to the growing inclination of consumers toward clean and untreated vegan products.
Tocopherol can be extracted from soybean oil, fresh fish, linseed, sunflower, etc. However, there is an excellent demand for soybean-derived tocopherol as it is readily available, affordable, and relatively easy to process. When it comes to type, alpha-tocopherol is the most popular variant of plant-based vitamin E supplements due to its high biological activity, stability, and longer shelf life. Both these forms of tocopherol find their application in a wide range of edibles like protein powders, energy drinks, ready-to-serve juices, etc.
“There is still much room for innovation in the tocopherol market. Key market players must spend extensive research and development hours making tocopherol products more accessible, affordable, and versatile. There are still a lot of concerns regarding the ill effects of overconsumption of tocopherol. Brands also have to develop key marketing strategies to clear these doubts hampering the overall market growth”, opines Nandini Roy Choudhury, Client Partner at Future Market Insights.
Key Takeaways from the Tocopherol Report:
- The tocopherol market is expected to grow at a modest rate of 7.4% from 2023 to 2033.
- Alpha-tocopherol products dominate the global market with an overall revenue share of 41.2%.
- China is the leading market for tocopherol, with a growth rate of 6.6% CAGR from 2023 to 2033.
- China is followed by Australia (6.4%), Germany (6.2%), Japan (5.7%), and the US (5.4%) in terms of tocopherol consumption.
- China is the highest exporter of tocopherol and tocopherol-associated products.
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Competitive Landscape of the Tocopherol Market:
The tocopherol market has experienced a series of ups and downs in recent years. As the market is heavily reliant on the growth of the pharma industry, it witnessed a substantial rise during the pandemic. To meet this demand, there was an influx of well-established pharmaceutical companies that started using tocopherol in their medications. There is a presence of international players in the tocopherol market, but their reach is limited. As the products are costly, the demand for tocopherol in emerging economies is still in its early phases. New start-ups and small-scale enterprises find it very hard to compete with these giants and are restricted to local markets only.
Key Companies
- Archer Daniels Midland
- Cargill Inc.
- DuPont Danisco
- Royal DSM
- Merck KGaA
- BASF SE
- DSM N.V.
- Davos Life Science Pte Ltd.
- Vitae Caps SA
- Advanced Organic Materials SA
- BTSA
- Zhejiang Worldbestve Biotechnology Co. Ltd
- Zhejiang Xinhecheng Co. Ltd
- Nutralliance
Recent Developments in the Tocopherol Market:
- Recently, Nutralliance, a California-based nutraceutical company, announced a partnership with BASF SE to distribute BASF's tocopherols in North America. This will also help Nutralliance expand its market size in North American regions.
- In May 2023, Vitae Caps launched a new line of mixed tocopherol softgels. These softgels are made with natural tocopherols from sunflower oil and are available in various potencies.
- In March 2023, Archer Daniels Midland Company (ADM) announced a new investment in its tocopherol production facility in Decatur, Illinois. This investment will increase ADM's tocopherol production capacity by 25%.
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Tocopherols Market by Category
By Source:
- Soybean Oil
- Rapeseed Oil
- Sunflower Oil
- Corn Oil
- Other
By Application:
- Food and Beverages
- Feed
- Pharmaceuticals
- Cosmetics
- Dietary Supplements
By Type:
- Alpha Tocopherols
- Delta Tocopherols
- Mixed Tocopherols
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
Author:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives. She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India. Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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