Global Vitamin E Market - Growth, Trends, and Forecast (2018 - 2023)
The market for vitamin supplements is well on its path of gaining enhanced momentum in the backdrop of rising demands from health conscious consumers. Global vitamin E market is expected to attain a CAGR of 5.2% during the forecast period (2018–2023) due to rising application scope particularly in the treatment of lifestyle diseases.
“Vitamin E” is the collective name for a group of fat-soluble compounds with distinctive antioxidant activities. In a rapidly evolving global socio-economic scenario, hectic lifestyles and associated stress leads to deposition of oxidized products. Oxidation has been linked to numerous possible conditions and diseases, including cancer, ageing, arthritis and cataracts, vitamin E has been shown to be effective against these and thus rising health concerns coupled with increasing consumer spending is set to drive the global vitamin E market.
The ever-increasing healthcare burden has resulted in the paradigm shift of consumers to dietary supplements and value added food products rather than accessing nutrients from traditional diets. This growing demand for value-added nutritive foods coupled with the increasing prevalence of lifestyle diseases is expected to drive the global vitamin E market. Vitamin E has been scientifically proven to protect the body from cell damaging free radicals thereby avoiding the buildup of reactive oxygen species (ROS) that are oxidized products. Thus, the role of Vitamin E in preventing or delaying chronic diseases associated with free radicals is providing the further push to the market.
Aging and geriatric population are increasingly preferring vitamin E supplements as a preventive medicaments and this has led to the annual growth of more than 3% of global Vitamin E supplements market from 2014 to 2017.
The global vitamin E market is segmented into natural and synthetic based on the product type. The Supplements of vitamin E typically provide only alpha-tocopherol, although “mixed” products containing other tocopherols and even tocotrienols are available. Naturally occurring alpha-tocopherol exists in one stereoisomeric form. In contrast, synthetically produced alpha-tocopherol contains equal amounts of its eight possible stereoisomers. However, due to rising awareness of health deteriorating effects of artificial additives and consequently the increasing demand for natural-origin products, the natural vitamin E product segment is expected to grow faster as compared to the synthetic segment.
Asia-pacific is expected to attain the highest growth rate in vitamin E market, during 2018-2023 (the forecast period), due to growing awareness of a healthy lifestyle and the increasing realization of the importance of supplementary nutrients in the form of functional foods and dietary supplements. China and India have shown utter willingness to embrace healthy diet including use of vitamin supplements, to meet their nutritious necessities. The wider product availability, increasing acceptance ratio among the younger population segment, and rising geriatric population in countries like Japan is expected to fuel the growth of vitamin E market.
Major players - ARCHER DANIELS MIDLAND COMPANY, BASF SE, CARGILL, DAVOS LIFE SCIENCE PVT. LTD., DSM NUTRITIONAL PRODUCTS, EISAI FOOD & CHEMICAL CO. LTD., FENCHEM BIOTEK LTD., SOHAM ORGANICS PVT. LTD., WILMAR INTERNATIONAL, among others.
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