LONDON, Sept. 21, 2016 /PRNewswire/ -- The global tocotrienol market is expected to reach USD 387.6 million by 2024, according to a new report by Grand View Research, Inc. Increasing penetration of tocotrienols in the pharmaceutical industry owing to properties such as anti-cancer and lowering triglyceride is expected remain a key driving factor over the forecast period.
Vitamin E derived tocotrienol exhibits antioxidant properties that further help to reduce heart-related diseases along with cancer. It is also reported that these products inhibit the growth of breast cancer cells. Such factors are expected to aid the market growth over the forecast period.
Tocotrienols are "generally recognized as safe (GRAS)" substance and can be used as an additive in dietary supplements. Rising concern regarding unhealthy lifestyle along with improper diet among consumers is anticipated to assist the demand over the next eight years.
Nevertheless, potential health benefits, imparted by tocotrienols, are far more important compared to its price level. Researchers developed a new medicine named EVNolSupraBio, which helps in curing Alzheimer's disease if taken twice daily. As a result, it might save people against heart strokes coupled with cognitive health illnesses. Such R&D initiatives are expected to create ample opportunities and unlock potential applications for the market.
Further key findings from the report suggest:
The global tocotrienol market demand is projected reach 986.9 kilo tons by 2024, growing at a CAGR of 7.2% from 2016 to 2024
Alpha tocotrienol was the leading product segment and accounted for over 55% of total market volume in 2015. Delta tocotrienol is presumed to grow at an estimated CAGR of 6.3% over the forecast period. They help in the suppression of cell proliferation in pancreatic cancer cells, which is expected to drive the product demand in the pharmaceutical market over the next eight years.
Pharmaceutical segment is presumed to be the fastest growing end-use segment growing at an estimated CAGR of 6.6% from 2016 to 2024. Tocotrienol is used as an additive in tablet formulation and also helps in treating diseases such as liver cancer &prostate cancer.
North America was the leading regional market and accounted for 59.8% of global demand in 2015. Asia Pacific is expected to be the fastest growing region over next eight years.
Rising number of cardiovascular diseases coupled with shifting preferences among consumers towards a healthier lifestyle in the region is presumed to benefit the overall market growth.
The industry is highly competitive with the top four companies accounting for a majority in the global market. Industry growth is influenced by consumer demand for functional food and diet supplements.
Key companies in the industry include SourceOne, AC Grace company, Orochem, Parachem Fine & Specialty Chemicals, Vance Group, American River Nutrition, and Palm Nutraceuticals Sdn Bhd.
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