Asia Pacific Tocopherol Market Forecast 2020-2028
The Asia Pacific tocopherol market is anticipated to grow significantly and reach a CAGR of 5.41% over the forecast period of 2020-2028. The consumers in the region are prioritizing products derived from natural sources, given the rising urban income and growing aging population, thereby influencing the market growth.
The Asia Pacific tocopherol market growth is analyzed on the basis of the market evaluation of Indonesia, South Korea, Thailand, India, Vietnam, Japan, Australia & New Zealand, China, and the rest of Asia Pacific. Indonesia is host to locally-led inspiring initiatives around food systems, including food safety, public awareness about nutritional issues, and access to healthy food for low-income households. The regional and national government could empower these voluntary initiatives to promote healthy and sustainable diets, which will boost the market growth. In Thailand, the government is taking initiatives to improve the health of the population, ranging from a clear display of nutrition information on the label to physical activity action plans. The increased demand for nutritious products has led to substantial commercial incentives for companies to invest in reformulation.
In countries like Vietnam, aging is a principal factor contributing to increased interest in a healthy lifestyle and rapid growth of vitamins, minerals, and herbal and nutritional supplements. In Australia, health supplements containing tocopherols are becoming popular because of increasing awareness regarding health and natural products. The pharmaceutical industry is using tocopherol in many naturally composed medicines. In the rest of the Asia Pacific region, the increasing income levels and high demand for better quality ingredients are triggering the demand for tocopherol-based supplements and other foods.
The well-known companies functioning in the market include Matrix Fine Sciences Pvt Ltd, Zhejiang Worldbestve Biotechnology Co. Ltd, Vance Group Ltd, COFCO Tech Bioengineering Co. Ltd, Zhejiang Xinhecheng Co. Ltd, and others.
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