The
global natural source vitamin E market is highly consolidated and
characterized by the dominance of few international players.
Transparency Market Research states that the top four companies in
the market accounted for a share of over 58% in 2015. The top vendor
DSM N.V. accounted for over 23% of the market. The other three
leading vendors in the market are Archer Daniels Midlands Company,
BASF SE, and Wilmar Spring Fruit Nutrition Products Co. Ltd.
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Other
notable vendors in the market include companies such as Fenchem
Biotek, Beijing Gingko Group, Davos Life Science, Riken Vitamin Co.
Ltd., Eisai Food and Chemical, and Zheijang Worldbestve
Biotechnology. Acquisitions of specialty product manufacturers in
emerging economies, partnerships, and development of new product
varieties will help key vendors to survive the stiff competition in
the market.
Rising
Awareness Regarding Health Benefits of Vitamin E Encourage Adoption
Vitamin
E is known to have a wide-ranging impact on the human health, from
regulating a variety of processes such as reproduction and blood
pressure, to protecting cells from damage, and preventing a health
problems such as cancer, heart diseases, and possibly even dementia.
In the past few years, sedentary lifestyles, unhealthy diets, and
rising geriatric population have led to a vast surge in the
prevalence of chronic diseases such as diabetes, cardiovascular
diseases, and a variety of cancers. The scenario has stimulated the
need for consuming vitamin E though supplementary sources.
Rising
disposable incomes of the global population are enabling consumers to
spend more on vitamin and dietary supplements along with regular
diets for maintaining healthy lifestyles. The trend is equally
popular across developed and developing regions. While developed
regions such as North America and Europe are presently the largest
contributors to the overall global consumption of natural source
vitamin E, the market in Asia Pacific is rising at a significant pace
and is expected to expand at the fastest pace from 2016 to 2024.
Strengthening
Distribution Channels Enable Easy Availability of Natural Source
Vitamin E Products
The
easy availability of natural source vitamin E through an increasingly
strengthening distribution network is also a key factor driving the
market globally. Having successfully established a large consumer
base through store-based retail channels such as health shops,
supermarkets, hypermarkets, mass merchandisers, drugstores, and
healthcare specialist retailers, the focus is now on strengthening
the e-commerce channel. In the next few years, a large number of
natural source vitamin E product manufacturers will be seen
exploiting the highly popular marketing space of e-commerce, making
it one of the most prominent retail channels for the market.
High
Costs of Natural Source Vitamin E to Threaten Growth across Emerging
Economies
In
the past few years, a vast shortage in the supply of deodorized
distillates has been observed across the globe. As these compounds
are the most prominent raw material used for the production of
natural vitamin E, disruption in their supply has a direct impact on
the prices of vitamin E and, in turn, on the prices of natural source
vitamin E products.
The
high prices of vitamin E products could act as a major restraint to
their overall appeal, especially for the cost-conscious masses across
developing economies. Many vendors are actively involved in research
and development initiatives aimed at exploring alternative sources
for producing deodorized distillates. However, no plausible results
have been attained.
In
terms of product variety, the tocopherol segment accounted for a
dominant share of over 65% of the market’s revenues in 2015.
Geography-wise, North America led the global
natural source vitamin E market, accounting for over 40% share in
2015. The global natural source vitamin E market is expected to
exhibit a healthy 12.8% CAGR from 2016 through 2024. The market,
which held an opportunity of US$765.6 mn in 2015, is expected to rise
to US$2,251.7 mn by 2024.
This
review is based on a recent market research report published by
Transparency Market Research, titled “Natural Source Vitamin E
Market - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast 2016 - 2024.”
For
this study, the market has been segmented as follows:
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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