Increasing Consumption of Dietary Supplements to Ensure High Demand for Natural Source Vitamin E
The latest figures indicate a steady rise in the number of patients suffering from vitamin E deficiency. The deficiency of vitamin E causes anemia, ataxia, nerve damage, peripheral neuropathy, retinopathy, skeletal myopathy, and impairment of the immune response. The growing prevalence of these diseases is driving the growth of the global natural source vitamin E market. Moreover, the rising affordability of products and strengthening distribution channels are also acting as a driver for the global natural source vitamin E market.
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On the flip side, the declining supply of key raw materials used for producing natural source vitamin E such as deodorized distillates are likely to hamper the growth of the global natural source vitamin E market. Another factor restraining the growth of the global market has been highlighted in the combined research of the World Health Organization (WHO), the International Food Safety Authorities Network (INFOSAN), and the Food and Agriculture Organization of the United Nations (FAO). It states that excessive intakes of the vitamin E can lead to the onset of several types of cancer.
However, Transparency Market Research (TMR) analysts state that the augmenting demand for natural source vitamin E owing to the increasing purchasing power in emerging regions will prove to be a shot in the arm for the global natural source vitamin E market. As per a new report by TMR, the global natural source vitamin E market is anticipated to progress at a CAGR of 12.8% between 2016 and 2024, reaching a value of US$2,251.7 mn by 2024 from US$765.6 mn in 2015.
How are emerging nations responding to the global natural source vitamin E market?
Factors such as the strengthening distribution channels, rising purchasing power, and growing health awareness are likely to bear fruit for emerging regions, especially Asia Pacific, in the forthcoming years. Asia Pacific is anticipated to grow at a noteworthy CAGR of 13.3% from 2016 to 2024. China is likely to emerge as the most lucrative country for vendors. Another reason fuelling greater consumption of natural source vitamin E is the presence of a large population in developing and less developed countries suffering from this micronutrient deficiency.
However, growing awareness regarding healthy lifestyles and consumption of nutrients through supplements has put North America in a dominant position. The presence of superior supply chain and a reasonable level of affordability has benefitted increased adoption of natural source vitamin E in developed nations such as Europe and North America.
Why are most organizations manufacturing natural source vitamin E in the form of dietary supplements?
Several studies indicate a growing preference for dietary supplements amongst consumers, over other applications of natural source vitamin E such as food and beverages, cosmetics, and animal feed. Dietary supplements come with the benefits of boosting immunity, preventing chronic diseases, and promoting longevity. These benefits along with high feasibility are gaining the interest of health conscious consumers and are ensuring a promising growth of the global natural source vitamin E market. Therefore, vendors are focusing more on the production of dietary supplements in the form of tablets, capsules, and energy drinks.
Consequently, tocopherols are gaining prominence in terms of revenue among all product types. This growth can be attributed to its high usage in dietary supplement. The demand for tocotreniols is expected to rise in the near future owing to rising global demand for cosmetics, thereby fuelling the growth of the global natural source vitamin E market.