Vitamin E Market Size, Industry Analysis Report, Price Trend, Competitive Market Share & Forecast by 2023: Global Market Insights, Inc.
Vitamin E acid market size was estimated at over 110 kilo tons in 2014 and is likely to reach 160 kilo tons by 2023, growing at a CAGR of above 5%. Synthetic vitamin E market size was estimated at 110 kilo tons in 2014 and is likely to exceed 125 kilo tons by 2013, with gains of over 4%.
Animal feed application was the largest segment consuming synthetic vitamin E and accounted for over 80% of the total demand in 2014 and is likely to witness highest gains at over 4.2% up to 2023. Nutricosmetics application is likely to be the fastest growing for natural vitamin E market. Natural vitamin E market size accounted for over 8% of the total demand in 2014 and is likely to grow with an estimated CAGR of over 7% from 2016 to 2023.
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Increasing consumer demand food & beverages and personal care products derived containing bio based ingredients is likely to drive natural vitamin E market share. Growing concerns regarding toxic chemical additives used in the aforementioned applications is likely to fuel demand. Tocopherols and tocotrinols are natural vitamin E based products.
Increase in functional food & beverages demand is likely to favor market growth. Vitamin E demand for food & beverages in the U.S. is likely to grow at a CAGR of over 7% from 2-16 to 2023. Functional food & beverages applications are likely to grow at highest rates which are expected to hamper vitamin E supplements market over the forecast period.
Vitamin E rich foods are expected to grow owing to introduction of new formulations that it much easier to mix with water based products. This is expected to help manufacturers launch new products in the market and increase regional presence.
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Increasing application scope in nuticosmetics is likely to favor growth. Nutricosmetics is likely to be the most promising application as it offers a number of advantages such as improvement in skin texture & moisture content and UV protection. It also helps in increasing the effectiveness of sunscreen ingredients and prevent melanin deposits.