The
global mixed tocopherols market is led primarily by BASF SE, Archer
Daniels Midland Company, and DSM N.V. According to Transparency
Market Research, sustained focus on R&D has been a key tactic for
success in the global mixed tocopherols market and is likely to
remain so in the coming years. Large companies such as BASF SE are
also concentrating on acquisition and collaboration opportunities in
order to expand their regional presence and product catalog.
The
annual revenue of the global mixed tocopherols market stood at more
than US$2 bn in 2015 and is likely to rise to more than US$3 bn over
the 2016-2024 forecast period. This represents a steady CAGR of
4.60%.
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Animal
Feed to Remain Leading Application of Mixed Tocopherol
By
application, the report segments the global mixed tocopherols market
into dietary supplements, pharmaceutical, animal feed, and others. Of
these, the application of mixed tocopherols in animal feed was the
leading contributor to the global industry in 2015. Despite a steady
rise in the application of mixed tocopherols in pharmaceutical
products and dietary supplements, animal feed is likely to remain the
leading application segment of the global mixed tocopherols market in
the coming years. The revenue of the segment is expected to rise to
close to US$1.2 bn by the end of 2024, illustrating its dominant
share in the global mixed tocopherols market.
Of
the various types of tocopherols used in mixed tocopherol products,
gamma tocopherol was the leading revenue generator in 2015. This is
partly due to the higher prevalence of gamma tocopherol in corn and
soybean, which are more commonly used for commercial production of
tocopherols than other sources. Gamma tocopherol is likely to remain
the key contributor to the global mixed tocopherol market in the
coming years, with the segment’s annual revenue expected to rise to
more than US$1.2 bn by the end of 2024.
Europe,
where the flourishing pharmaceutical and food and beverage industries
have driven the demand for human consumption of tocopherol, is the
leading regional market for mixed tocopherol products. It is expected
to retain its dominance in the global market in the coming years in
spite of the strong growth prospects for the market in Asia Pacific,
where the rising middle class has exhibited an increased demand for
modern dietary and cosmetic products.
Rising
Health Awareness Drives Demand for Dietary and Pharmaceutical Mixed
Tocopherol Products
One
of the key drivers for the global
mixed tocopherols market is the increasing demand for dietary
supplements, driven by the rising health awareness of consumers. The
vitamin E activity of tocopherols has thus led to a steadily growing
demand for supplements, which are becoming a popular mode of dietary
intake of nutrients in times when many consumers don’t have the
time to prepare nutritious and elaborate meals.
“Apart
from their dietary use, mixed tocopherol products are also being used
in an increasing number of cosmetic products due to their vitamin E
activity,” said TMR’s lead analyst. Vitamin E is an effective
antioxidant and thus of great use in cosmetic products. The rising
prevalence of skin problems, particularly in developed countries, is
thus likely to remain a key driver for the global mixed tocopherols
market in the coming years.
Shortage
of Raw Materials and Increasing Prices Restrain Mixed Tocopherols
Market
The
key restraints on the global mixed tocopherols market are the
increasing prices of feedstock and vital gaps in the demand and
supply chain due to shortage of feedstock. The low availability of
soybean oil distillate is a key constraint on the global mixed
tocopherols industry, as soybean is a key feedstock used in the
production of mixed tocopherol products.
The
high manufacturing costs of mixed tocopherol products, which can be
attributed to the complexity of the processes required to process
soybean, are another important restraint on the market. However, the
sustained research efforts aimed at discovering new processes for the
production of tocopherols from alternate feedstock are likely to bear
fruit in the coming years, making participation in the industry
easier for new entrants and boosting the profit margins of existing
market players.
The
information in this preview comes from a Transparency Market Research
report titled ‘Mixed Tocopherol Market (Product - Alpha
Tocopherols, Beta Tocopherols, Gamma Tocopherols, Delta Tocopherols;
Application - Pharmaceuticals, Dietary Supplements, Animal Feed) -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast
2016 - 2024.’
The
global mixed tocopherols market is segmented as follows:
Global
Mixed Tocopherol Market, by Product Type
- Alpha Tocopherols
- Beta Tocopherols
- Gamma Tocopherols
- Delta Tocopherols
- Others
Global
Mixed Tocopherol Market, by Application
- Pharmaceuticals
- Dietary Supplements
- Animal Feed
- Others
Global
Mixed Tocopherol Market, by Geography
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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