The Tocopherol market is forecasted to reach USD 4,211.67 million by 2024 growing at a CAGR of 9.4% during the forecast period (2019-2024).
Health foods have the highest share for the use of tocopherol in the food & beverage industry, due to its wide range of health benefits. It is mostly used in health supplements used for gaining muscle mass.
According to a published study, the regular intake of tocopherol helps in reducing the risk of heart diseases, respiratory disorders, and other lifestyle diseases. The global trend of health consciousness is expected to boost the market for health foods, which inadvertently boosts the growth of the tocopherol market.
Key Market Trends
Strong Demand from Feed Industry
Mixed tocopherol usage in Animal feed industry is booming due to rising concern over animal health. Growing demand for high-quality poultry meat and pork has driven the demand for tocopherol in the feed industry. All-rac-alpha-tocopherol acetate is the most common vitamin E form used to supplement animal feeds.
Application in animal feed has got a huge opportunity in the field of tocopherol. An adequate amount of tocopherol is required in animal nutrition to protect them from malnutrition and pathogen. In addition, the rising concerns of heat stress on animals are also anticipated to boost the use of tocopherol in animal feeds. Thus, with the rise in demand for quality meat and poultry products globally, the demand for the use of tocopherol in animal feed is also expected to increase.
North America Dominated the Global Market
The United States tocopherol market is driven by high demand from feed, functional foods, and dietary supplements sectors. The US consumers exhibited enhanced awareness regarding the health benefits of vitamin-E and its sources due to their beneficial effects. Furthermore, it reduces the probability of pregnancy-related disorders. The US food and beverage industry is experiencing greater demand for tocopherol, due to increased consumption of organic and fortified foods, such as cereals, fruit juices, and spreads.
The Europe tocopherol market is driven by the robust demand projected from the food, cosmetics, personal care, nutraceutical, pharmaceutical, and animal nutrition sectors. These sectors are using natural and semi-natural antioxidants that are manufactured by using tocopherol.
Archer Daniels Midland, BASF, Cargill, Merck, and DuPont are leading companies and have an extensive product portfolio in tocopherol, with different concentration and grades. These are used as an ingredient in different applications, such as dietary supplements, cosmetics, pharmaceuticals, and animal feeds.
Davos Life Science has a brand new name, DavosLife E3 (formerly known as Naturale 3), for their range of Tocotrienol-Rich Fraction (TRF) products. This change is part of the company's rebranding initiative. DavosLife E3 TRF contains a complete spectrum of Tocotrienol isomers and a-Tocopherol that have health benefits.
Additionally, even private label players in the market effectively follow product launches, innovation, partnerships, and market expansions for the growth of the market.