Vitamin E Market Overview, Growth, Share, Revenue and Forecast 2016-2024

25 March 2019

The vitamin E market is expected to grow at a CAGR of above 5% over the forecast period from 2016 to 2024. Vitamin E has distinct benefits on human body such as it acts as an antioxidant in the human body, neurological health, gene expression, and lipid health. It also prevents oxidation of lipids, maintains them in the form beneficial to the body. Vitamin E is acquired in two forms i.e. natural vitamin E and synthetic vitamin E. Products and ingredients that carry the ‘Natural’ tag of vitamin E are accumulating considerations and increased consumer demand.

Key micronutrient used in the livestock feed industry, animal feed additive demand is soaring, owing to rise in live stock production for meat consumption, expected to propel the market. Natural vitamin E is typically utilized in dietary supplements, followed by beverages and cosmetics and fortification of foods together constituted the market growth. The rising usage of cresols in the production of vitamin E is expected to provide a strong impetus to the global market over the forecast period.

Growing concerns regarding toxic chemical additives use, consumer demand for bio based ingredients contained in food & beverages and personal care products is likely to fuel demand.

The synthetic vitamin E growth in animal feed industry attributed to the animal feed industry's growth globally. The demand for livestock products such as meat, poultry is increasing rapidly in developing nations. The main attributes for growth is likely to be population growth, urbanization and especially growing household incomes. General patterns of food consumption and specific demand for livestock products are shaped by levels of urbanization and growth in income, contributing directly to the vitamin E market growth in developing countries.

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Disproportion in supply-demand for raw materials still posses as a challenge for the market. Reducing raw material procurement cost owing to technological advancement to maintain the global supply chains is expected to gain additional profits for businesses.

Alternate sources for extraction of vitamin E from deodorized distillates palm oils, rapeseed and mixed sources are foreseeable opportunities for market growth. Introduction of new formulations along with solubility in water based products are favourable prerequisites for manufacturers to launch new products and increase regional presence.

The market is segregated on the basis of application, industry and region.

On the basis of application, nutritional/dietary supplements, animal feed, food & beverages and cosmetics are major consumers of vitamin E. Animal feed is the largest application area for both natural and synthetic vitamin E extract for maintaining colour and taste of the meat. Also, an adequate level of vitamin E prior to slaughter improves shelf life of meat. Moreover, it is used for cattle applications and prevention of muscular dystrophy among calves.

On the basis of industry, vitamin E has wide applications in food & beverages, medical and cosmetic industry. Food & beverage industry is the leading contributor to the market; used for the fortification of food products and as an antioxidant. In medical industry, it is used as a therapy for vitamin E deficiency. Vitamin E moisturizes the upper scaly layer of the skin owing to which it is utilized in sun care products in cosmetic industry.

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