Accounting
for a nearly 20% share, the company DSM N.V. clearly enjoyed the most
commanding position in the global mixed tocopherols market in 2015,
report TMR in a recent market research report. The top five companies
in the market, including BASF SE, Archer Daniels Midlands Company,
COFCO Tech Bio Engineering, Davos Life Sciences, along with DSM N.V.,
accounted for over 65% share in 2015. As such, the market features a
high level of consolidation.
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To
break the monotony and gain an edge, key vendors in the market are
investing heavily on innovations and R&D activities. TMR analysts
suggest that DSM N.V. acquired nearly 18% of the company’s overall
sales in 2014 from its arsenal of newly launched products.
Establishing manufacturing bases in emerging economies, where cheap
and easy availability of raw materials plays a key role in bringing
down product costs, is also a hot trend among manufacturers of mixed
tocopherols in the global market.
Rising
Demand for Health Supplements and Increasing Geriatric Population to
Boost Mixed Tocopherol Consumption
The
rising awareness about healthcare and physical wellbeing among the
global population and the rise in the world’s global geriatric
population at a worrying pace are some of the chief factors leading
to the increased global consumption of mixed tocopherols. Tocopherol
enriched health supplements for physical endurance and gaining muscle
mass and alpha tocopherol supplements for reducing bone fractures are
gaining an increased rate of popularity among young and geriatric
people, respectively. The popularity of alpha tocopherols is
substantiated by claims from renowned health publications such as the
American Journal of Clinical Nutrition. A recent report in the
journal links the applications of alpha tocopherol-based health
supplements with a 22% reduction in bone fractures among adult users.
Imbalance
in Demand and Supply Chain of Mixed Tocopherols to Hinder Market
Growth
The
global
mixed tocopherol market faces the challenge of a massive
imbalance in the supply and demand chain, owing to which the global
consumer deterred from large scale use of the compounds. Fluctuating
prices and shortage in supply of raw materials used for the
production of mixed tocopherols has surfaced as a key challenge for
the market in the past few years. The global supply of soybean oil
distillate, for instance, has seen a downward trend in the past,
which, in effect, led to escalated prices. Production of mixed
tocopherol from soya bean deodorized distillate (DOD) is also a
highly capital-intensive procure, limiting new manufacturers from
foraying into the field and seeking alternatives.
Demand
from Animal Feed Industry in Emerging Economies Emerge as Key Driving
Force
Of
the key product types in the global mixed tocopherol market, the
segment of gamma tocopherol accounted for the largest share of over
38% in the global market in 2015. The high demand for this variety of
tocopherols is continuously rising owing to its effectiveness against
a variety of diseases such as Alzheimer’s, cataract, and cancer.
Of
the key areas of application for mixed tocopherols, the segment of
animal feed is currently gaining increased popularity, especially in
emerging countries such as India and China in Asia Pacific. The
segment accounted for a nearly 39% share in the global market in 2015
and is expected to exhibit a healthy CAGR over the forecast period as
well. The high rise in meat and pork consumption across the globe
will fortify the trend.
On
a whole, the global mixed tocopherol market will expand at a 4.6%
over the period between 2016 and 2024. The market, which had a
valuation of US$2,032.2 mn in 2015, will rise to US$3,040.2 mn by
2024 at this pace.
