Rising health consciousness among the global population, a rapidly graying population, and increased adoption across the pharmaceutical and animal feed industries are collectively boosting the global consumption of mixed tocopherols. In the past few years, the demand for mixed tocopherols for conditions such as Parkinson's disease, restless leg syndrome, neurogenic problems, Huntington's chorea, and a variety of cancers, and general wellbeing has seen a positive upward trend.
Transparency Market Research states that the global mixed tocopherol market held an opportunity worth US$2.03 bn in 2015. The market is expected to expand at a healthy 4.6% CAGR over the period between 2016 and 2024. As a result, the market will rise to a valuation of US$3.04 bn by 2024. A wide gap between the global demand and supply of mixed tocopherols and fluctuating raw material prices will hinder the market’s growth to a certain extent.
Increased Adoption in Animal Feed Industry Boost Global Demand for Mixed Tocopherols
Of the several principle applications of mixed tocopherols, the segment of animal feed is presently observing development on the most promising scale. Usage of mixed tocopherols in animal feeds accounted for the largest share of over 39% in the overall market in 2015. The animal feed application segment had a valuation of $799.0 million in 2015 and is slated to rise at a healthy 4.5% CAGR over the period between 2016 and 2024. The rising global demand for high quality meat and pork is expected to expedite the consumption of mixed tocopherols in the animal feed market in the next few years.
The global consumption of mixed tocopherols is also expected to expand at a sustainable pace across applications such as pharmaceutical, dietary supplement, vitamin fortified foods, and cosmetics. Applications of mixed tocopherols in the sector of cosmetics and vitamin fortified foods and beverages is expected to expand at a 4.8% CAGR from 2016 and 2024.
Gamma Tocopherols Take the Lead as Cancer Cases Show Alarming Rise
Of the chief varieties of tocopherols that come under the purview of the global mixed tocopherols market, including alpha, beta, gamma, and delta tocopherols, the segment of gamma tocopherols is the clear leader. The segment accounted for a nearly 38% share in the market’s 2015 revenues and is expected to exhibit a 5.2% CAGR from 2016 to 2024. The anti-inflammatory properties of gamma tocopherol grant high value to the compound in the pharmaceutical industry for the preparation of drugs for Alzheimer’s, cancer, and atherosclerosis. Especially, a worrying rise in prevalence of a variety of cancers globally, will lead to the increased global consumption of gamma tocopherols in the next few years.
Asia Pacific Surges Ahead in Mixed Tocopherol Consumption
Europe and North America are presently at the forefront of the global tocopherol market, collectively accounting for a share of nearly 60% in 2015. In Europe, which was the largest regional market for mixed tocopherols with over 32% in 2015, the rapid growth of the pharmaceutical and food industries has aided the high consumption of mixed tocopherols.
However, the market for mixed tocopherols is expected to expand in Asia Pacific at the fastest pace among other key regional markets over the said period. The region will surge ahead in the global mixed tocopherol market owing to the rising consumption of a variety of tocopherols in the animal feed, cosmetics, and pharmaceutical industries. The mixed tocopherol market in the region will also benefit from the vast and easy availability of cheap raw material sources such as palm and coconut oil.
The highly consolidated global mixed tocopherols market, where the top five players held a cumulative share of over 65% in 2015, some of the most prominent vendors are BASF S.E., DSM N.V., COFCO Tech Bio Engineering, B&D Nutritional Ingredients, Inc., Advance Organic Material S.A., Archer Daniels Midlands Company, and Davos Life Science Pte Ltd.
Tocopherol, alternatively known as vitamin E, is a naturally occurring organic element that can be obtained from a variety of vegetable oils and food products such as spinach, nuts, almonds and tomatoes among others. Tocopherol have the ability to protect from various diseases such as various neurogenic problems, restless leg syndrome, Parkinson's disease, Huntington's chorea, lungs cancer and oral cancer among others. Thus it is increasingly used in various pharmaceutical industries in order to provide proper medication against these diseases. The global mixed tocopherol market has been segmented on the basis of product type, application and geography. In addition, an exhaustive country level analysis of the global mixed tocopherol market across four broad regions has been covered under the scope of the study.
Increasing health consciousness among consumers is triggering the growth of the global mixed tocopherol market. Furthermore, increasing demand for Vitamin E fortified food and cosmetics are also contributing towards market growth globally. In addition, increasing demand for health supplements and rise in aging population is acting as a major driver of the mixed tocopherol market globally. These trends in the global market together are boosting sales globally and are contributing to the stable growth of the mixed tocopherol market.
Application in animal feed has got huge opportunity in the field of mixed tocopherol. Adequate amount of mixed tocopherol is essential in animal nutrition to protect them from malnutrition and pathogen. In addition, the rising concern of heat stress on animal is also anticipated to trigger the use of mixed tocopherol in animal feeds. A prescribed amount of tocopherol in animal feed helps to avoid the effect of severe heat stress on egg production, egg weight, and egg shell density. Moreover, mixed tocopherol also prevents the formation of eicosanoids in the membrane which is a potent inflammation inducer. Mixed tocopherol mixed in animal feeds also helps to increase overall immunity power, meat quality, skin, nail, and hair condition in animals. Thus, the mixed tocopherol market is predicted to be driven extensively in the coming years by demand from animal feed manufacturers. The APAC and MEA and Latin America have got immense scope of growing and APAC is showing substantial growth among all the regions. With increasing number of health conscious people and rising threats of cardiovascular diseases, the demand for mixed tocopherol is increasing as it prevents these diseases. This is acting as a major driver in these regions which is contributing to its substantial growth.
The competitive profiling of the key players in the global mixed tocopherol market across four broad geographic regions is included in the study. These include different business strategies adopted by the leading players and their recent developments as in the field of mixed tocopherol. The market attractive analysis of the major application areas has been provided in the report, in order to offer a deep insight of global mixed tocopherol market.
A comprehensive analysis of the market dynamics that is inclusive of market drivers, restraints and opportunities is included in the purview of the report. Market dynamics are the distinctive factors which impact the market growth, thereby helping to understand the ongoing trends of the global market. Therefore, the report provides the forecast of the global market for the period from 2016 to 2024, along with offering an inclusive study of the mixed tocopherol market.
Some of the major players in the mixed tocopherol market are: DSM N.V. (Netherlands), BASF S.E. (Germany), B&D Nutritional Ingredients, Inc. (U.S.), Archer Daniels Midlands Company (U.S), COFCO Tech Bio Engineering (China), Davos Life Science Pte Ltd. (Singapore), Eisai Food and Chemical Co. Ltd (Japan), Advance Organic Material S.A. (Argentina), among others.
The global mixed tocopherol market has been segmented into:
Global Mixed Tocopherol Market, by Product Type
- Alpha Tocopherols
- Beta Tocopherols
- Gamma Tocopherols
- Delta Tocopherols
Global Mixed Tocopherol Market, by Application
- Dietary Supplements
- Animal Feed
Global Mixed Tocopherol Market, by Geography: The market is broadly segmented on the basis of geography into:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America