Vitamin E acid market size was estimated at over 110 kilo tons in 2014 and is likely to reach 160 kilo tons by 2023, growing at a CAGR of above 5%. Synthetic vitamin E market size was estimated at 110 kilo tons in 2014 and is likely to exceed 125 kilo tons by 2013, with gains of over 4%.
Animal feed application was the largest segment consuming synthetic vitamin E and accounted for over 80% of the total demand in 2014 and is likely to witness highest gains at over 4.2% up to 2023. Nutricosmetics application is likely to be the fastest growing for natural vitamin E market. Natural vitamin E market size accounted for over 8% of the total demand in 2014 and is likely to grow with an estimated CAGR of over 7% from 2016 to 2023.
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U.S. synthetic vitamin E market share accounted for close to 50% of the total demand in 2014. North America is likely to witness moderate growth rates over the forecast period. Europe accounted for more than 20% of the total demand. Asia Pacific is likely to be the fastest growing region over the forecast period. Significant opportunity exists in the natural tocopherols market over the forecast period.
Global increase in animal feed additive demand owing to rise in live stock production for meat consumption is likely to drive vitamin E market price over the forecast period. It has been the one of the key micronutrient used in the livestock feed industry. It influences immune function, growth, health, reproduction and product quality, particularly in ruminants.
It is majorly used for cattle applications and help in preventing muscular dystrophy among calves. It is used the prescribed quantity between 200 to 1250 IU per day ranging from young cattle to finishing steers & heifers.
It helps in maintaining red or bright color and taste of the meat. This factor is expected to improve the customer acceptance level of meat on shelf. Feeding adequate levels of Vitamin E prior to slaughter improves shelf life of meat for at most for two days.
Increasing consumer demand food & beverages and personal care products derived containing bio based ingredients is likely to drive natural vitamin E market share. Growing concerns regarding toxic chemical additives used in the aforementioned applications is likely to fuel demand. Tocopherols and tocotrinols are natural vitamin E based products.
Increase in functional food & beverages demand is likely to favor market growth. Vitamin E demand for food & beverages in the U.S. is likely to grow at a CAGR of over 7% from 2-16 to 2023. Functional food & beverages applications are likely to grow at highest rates which are expected to hamper vitamin E supplements market over the forecast period.
Vitamin E rich foods are expected to grow owing to introduction of new formulations that it much easier to mix with water based products. This is expected to help manufacturers launch new products in the market and increase regional presence.
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It is widely gaining importance as an ingredient source in nutritional bars. Key regions such as North America and Europe are expected to witness launch of oils and margarines fortified with vitamin E, a market which is well developed in India and China.
Increasing application scope in nuticosmetics is likely to favor growth. Nutricosmetics is likely to be the most promising application as it offers a number of advantages such as improvement in skin texture & moisture content and UV protection. It also helps in increasing the effectiveness of sunscreen ingredients and prevent melanin deposits.
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