The
global market for natural source vitamin E is extremely consolidated
and competitive in nature, thanks to the key players that are
dominating the overall market, states a research study by
Transparency Market Research (TMR). In 2015, the leading players
operating in the global natural source vitamin E market, namely DSM
N.V., BASF SE, Archer Daniels Midlands Company, and Wilmar Spring
Fruit Nutrition Products Co. Ltd. collectively accounted for a share
of 57.9% of the global market. In order to enhance their market
presence and maintain their dominance, the leading players are
focusing on the expansion of application base and new product
development. In addition, the rising number of mergers and
acquisitions and strategic partnerships are anticipated to encourage
market growth in the near future.
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As
per the research report by Transparency Market Research, in 2015, the
global market for natural source vitamin E was valued at US$765.6 mn.
The market is projected to reach a value of US$2,251.7 mn by the end
of 2024, registering a progressive 12.80% CAGR between 2016 and 2024.
North
America and Europe to Witness progressive Growth in Global Market
Among
the key regional segments, North America is expected to lead the
global natural source vitamin E market and hold a significant share
in the next few years. Europe is projected to follow North America
and witness healthy growth in the forecast period. The rising
awareness among consumers in these developed regions concerning a
healthy lifestyle and the growing need to consume essential nutrients
through different supplements are the key factors encouraging the
growth of natural source vitamin E market in North America and
Europe. On the flip side, Asia Pacific is projected to witness robust
growth in the forecast period, owing to the rising disposable income
and easy availability of products.
On
the basis of application, the dietary supplements segment is
estimated to witness robust growth throughout the forecast period. In
2015, this segment account for nearly half of the global market and
is estimated to continue its dominance in the near future. The
growing awareness among consumers related to the well-being and a
healthy lifestyle are some of the major factors that are anticipated
to fuel the growth of the dietary supplements segment in the coming
years. Furthermore, the emergence of new products and innovations is
likely to contribute towards the development of the market.
Increasing
Awareness for Healthy Lifestyle to Boost Market Growth
The
global
natural source vitamin E market is growing at a progressive rate,
thanks to the rising awareness among consumers regarding the rising
need to consume vitamin E. The unhealthy diet, sedentary lifestyles,
and the growing geriatric population have resulted in a high
prevalence of non-communicable chronic diseases, such as
cardiovascular and respiratory diseases and diabetes. The health
benefits offered by vitamin E and the easy availability of products
are further estimated to accelerate the growth of the market in the
next few years.
Furthermore,
the rising disposable income among consumers, especially in emerging
economies and the developing economic conditions are expected to
boost the demand for dietary supplements in order to lead a healthy
lifestyle, thus propelling global natural source vitamin E market. In
addition, the inclination of consumers towards healthy diet and
strict health regimens are likely to offer promising and lucrative
opportunities for market players.
High
Cost of Production to Inhibit Market Growth
The
global market for natural source vitamin E is expected to witness
several challenges throughout the forecast period, which are likely
to restrict the growth of the overall market. The high cost of
production is one of the vital factors that is anticipated to hamper
the growth of the overall market in the next few years. Nonetheless,
the growing focus of key players on expansion of the product
portfolio and research and development activities are predicted to
supplement the growth of the market.
This
information is based on the findings of a research report published
by Transparency Market Research (TMR), titled “Natural Source
Vitamin E Market - Global Industry Analysis, Size, Share, Growth,
Trends and Forecast 2016 - 2024.”
The
global natural source vitamin E market has been segmented as below:
Global
Natural Source Vitamin E Market, by Product Type
- Tocopherol
- Tocotrienol
Global
Natural Source Vitamin E Market, by Application
- Dietary Supplements
- Food and Beverages
- Cosmetics
- Others
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