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  • Published On : Jan 2023
  • Code : CMI5496
  • Industry : Food Ingredients
  • Pages : 135
  • Formats :

The global tocopherols market size was valued at USD 1069.7 million in 2021 and is anticipated to witness a compound annual growth rate (CAGR) of 5.58% from 2022 to 2030. There is a growing demand for tocopherol in the animal feed sector. In addition, it is a key component of supplemented foods, and is used for a wide range of applications. For instance, it is used in pharmaceutical, personal care, and cosmetic products. The market is predicted to experience substantial growth over the forecast period, due to the rising demand for dietary supplements. The growing cosmetics industry is further expected to propel the growth of the tocopherols market. Increasing demand for fortified foods, energy drinks, and dietary supplements is also expected to drive growth of the market.

Global Tocopherols Market: Regional Insights

Currently, the market is dominated by Asia Pacific, which is expected to continue its lead throughout the forecast period. China dominates the tocopherols market. Several factors such as increased consumer consciousness, high demands from the feed and pharmaceutical industries, and increasing production of poultry are driving regional market growth.

At the same time North America is also expected to witness fastest growth over the forecast period owing to the increasing consumer awareness regarding health is likely to drive the tocopherols market in the U.S. Besides, the increase in the production of soybean oil is leading to a strong demand for tocopherols. Thereby, propelling regional market growth.

Figure 1. Global Tocopherols Market Share (%), by Region, 2021

Tocopherols  | Coherent Market Insights

Global Tocopherols Market Drivers:

Rising demand for tocopherol in animal feed to accelerate market growth

These antioxidants are highly beneficial for immune defense and health of animals. Vitamin E is very important compound for livestock diets. It is also used to improve the oxidative stability of meat. This helps to increase quality of eggs and meat. Hence, growing demand for high quality meat products will favor the market growth.

Ongoing research &development in the field of tocopherol extraction

To explore the properties of tocopherol key players are increasing their spending on research &development activities. For instance, Chinese pharmaceutical company Zhejiang Worldbestve Biotechnology Co. Ltd developed various production technologies that achieved national invention patent.  The company, in collaboration with Zhejiang University, China, underwent high purity alpha type natural vitamin E - technology development industrialization projects.

Global Tocopherols Market Opportunities:

New FDA regulations for fats-soluble vitamins is expected to provide significant growth over the forecast period. For instance, the new regulation for the nutrition facts label, FDA is replacing the unit “IU” for vitamin A, vitamin D, and vitamin E with the metric unit. The unit for vitamin E will be changed to milligram of alpha-tocopherol (mg). This regulation came into effect on January 1, 2020, for companies with USD 10 million or more in annual sales; and January 1, 2021 for companies with less than USD 10 million in annual sales. It is projected that all countries will follow this new regulation as well to standardize the labeling system.

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Tocopherols Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 1069.7 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 5.58% 2030 Value Projection: US$ 1858 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Source: Soybean Oil, Rapeseed/Canola Oil, Corn Oil, Sunflower Oil, Other Sources
  • By Application: Food and Beverage, Feed, Pharmaceuticals, Dietary Supplements, Cosmetics/Personal Care
Companies covered:

Archer Daniels Midland, Cargill Inc., DuPont, MERCK KGaA, BASF SE, Koninklijke DSM NV, Davos Life Science PTE Ltd, Vitae Caps SA, Advanced Organic Materials SA, BTSA, Zhejiang Worldbestve Biotechnology Co. Ltd, and Zhejiang Xinhecheng Co. Ltd

Growth Drivers:
  • Rising demand for tocopherol in animal feed 
  • Ongoing research &development in the field of tocopherol extraction
Restraints & Challenges:
  • Easy availability of antioxidants alternatives 
  • Substantial capital investment

Global Tocopherols Market Trends:

Supplementary Gums Are Gaining Popularity

Recent study by the Pennsylvania State University found that by chewing gum containing pyridoxine, retinol, ascorbic acid, and alpha- tocopherol, helps in improve the levels of these vitamins in the blood plasma. The study was financed by Vitaball, which provide SmartGum nutritional chewing gums. Other brands have explored the format too, including Get More Vitamins, which launched Multivitamin Chewing Gum, and confectionery manufacturer Pissa, which released Breathfusion vitamin chewing gums, with a collagen variety focusing on beauty claims.

Growing trend of 100% Vegetarian Flaxseed with Tocopherol

In July 2019, BestSource Nutrition announced the launch of 100% vegetarian Flaxseed with Tocopherol Capsules. Flaxseed Oil is a high source of Omega 3 fatty acids. BestSource Nutrition’s Flaxseed oil capsules comes along with natural vitamin E (tocopherol), which makes it even more suitable to manage heart, skin, and hair health.

Global Tocopherols Market Restraints:

Easy availability of antioxidants alternatives to restraint market growth

For instance, spices and herbs contain high concentrations of phenolic compounds that offer antioxidant protection via hydrogen donation mechanism similar to tocopherols, thus, these spices and herbs can be used as alternatives to tocopherols in preparation of food products.

Figure 2. Global Tocopherols Market Share (%), by Segment Type, 2021

Tocopherols  | Coherent Market Insights

High Capital Investment Limit Growth

Synthesis of tocopherol require high capital investment. The process is very lengthy and expensive, this hinder the new key players entry into the market. Thus, hampering market growth.

Global Tocopherols Market Segmentation:

The global tocopherol market report is segmented into source, application, and geography

Based on source, the market is segmented into Soybean Oil, Rapeseed/Canola Oil, Corn Oil, Sunflower Oil, and Other Sources. Out of which, Soybean Oil is expected to dominate the global market over the forecast period and this is attributed to their usage in various industrial applications for extraction of tocophereols. The soybean oil segment of the market was valued at USD 624.9 million in 2019 and is projected to reach USD 844.3 million by 2025, registering a CAGR of 5.22% during the forecast period (2020-2025).

Rapeseed/Canola Oil segment is also expected to witness significant growth in the near future and this is owing to their numerous health benefits to heart and skin, control diabetes, and help in weight management. The rapeseed/canola oil segment of the market was valued at USD 71.2 million in 2019 and is projected to reach USD 105.3 million by 2025, registering a CAGR of 6.83% during the forecast period (2020-2025).

Based on application, the market is segmented into Food and Beverage, Feed, Pharmaceuticals, Dietary Supplements, and Cosmetics/Personal Care. Out of which, Food and Beverage is expected to dominate the global market over the forecast period and this is attributed to their usage as antioxidants, flavor protectants, preservatives, and nutrients stabilizers in food preparation. The food and beverage segment of the market was valued at USD 295.3 million in 2019 and is projected to reach USD 418.6 million by 2025, registering a CAGR of 6.06% during the forecast period (2020-2025).

Feed segment is also expected to witness significant growth in the near future. Vitamin E is the most common form of tocopherols in animal feed. The feed segment of the market was valued at USD 34 million in 2019 and is projected to reach USD 48.5 million by 2025, registering a CAGR of 6.17% during the forecast period (2020-2025)

Global Tocopherols Market: Key Developments

In September 2019, The DUPONT launched New GUARDIAN® TOCO 30P antioxidant from naturally sourced mixed tocopherols. The product is claimed to facilitate manufacturers of cereal and granola, owing to its convenient, easy-to-use formula, and powder state.

In September 2019, Merck Completed the acquisition of Sigma-Aldrich with USD 17 billion, which helped the company to enhance its product range, capabilities, and geographic reach. With the acquisition of Sigma-Aldrich, Merck likely is to be able to serve life science customers, around the world, with brands, such as SAFC and BioReliance, in addition to Millipore and Milli-Q. The company is offering over 300,000-product with highly- respected brands distributed through leading life science e-commerce and distribution platform.

In September 2019, Koninklijke DSM NV has created a joint venture with Nenter in China, which will include company’s production and related assets for vitamin E. The joint venture will acquire and operate the vitamin E production facilities in Jingzhou, Hubei, China and have a minority shareholding in Nenter’s Shishou facility, also in Hubei, China.

In August 2019, KLK Oleo featured its new product - DavosLife E3 DVL 30 WD, at Supply Side West 2019, in the United States. The company also shared samples of beauty drinks formulated with the ingredient and collagen.

In January 2019, The KLK upgraded DavosLife E3 Store, in order to ease consumers with the interface. The website also aims to be user- friendly so that it can be operated through mobile devices.

Global Tocopherols Market: Key Companies Insights

The global tocopherols market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global tocopherols market are Archer Daniels Midland, Cargill Inc., DuPont, MERCK KGaA, BASF SE, Koninklijke DSM NV, Davos Life Science PTE Ltd, Vitae Caps SA, Advanced Organic Materials SA, BTSA, Zhejiang Worldbestve Biotechnology Co. Ltd, and Zhejiang Xinhecheng Co. Ltd

*Definition: Tocopherols are organic chemical compounds with natural availability. They are a primary source of vitamin E in humans and animals.

Tocopherol is a methylated phenolic compound which acts as a potent antioxidant and is present in many food products. Its antioxidant properties are attributed to its ability to scavenge loose electrons. These free radicals are damaging molecules that can cause oxidative damage to cells. The antioxidants protect the cell membranes and other important biological structures from the effects of these free radicals. In addition to its powerful antioxidant activities, tocopherols also act as chemopreventive agents, meaning they may inhibit the growth of certain cancers.

Market Dynamics:

The tocopherol market is an emerging segment with opportunities in the pharmaceutical industry, food and beverage industries, and the cosmetics industry.  This growth is largely driven by the increasing demand for tocopherol from the cosmetics industry. Globally, tocopherols are used in various applications, such as dietary supplements, cosmetics, and feed supplements. Increasing consumer awareness about health and nutrition is further driving growth of the tocopherol market.

However, the tocopherol market also faces certain challenges. These include high cost of raw materials used in the manufacturing of tocopherol.

Key features of the study:

  • This report provides in-depth analysis of the global tocopherol market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global tocopherol market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Archer Daniels Midland, Cargill Inc., DuPont, MERCK KGaA, BASF SE, Koninklijke DSM NV, Davos Life Science PTE Ltd, Vitae Caps SA, Advanced Organic Materials SA, BTSA, Zhejiang Worldbestve Biotechnology Co. Ltd, and Zhejiang Xinhecheng Co. Ltd
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global tocopherol market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global tocopherol market

Detailed Segmentation:

  • Global Tocopherols Market, By Source
    • Soybean Oil
    • Rapeseed/Canola Oil
    • Corn Oil
    • Sunflower Oil
    • Other Sources
  • Global Tocopherols Market, By Application
    • Food and Beverage
    • Feed
    • Pharmaceuticals
    • Dietary Supplements
    • Cosmetics/Personal Care
  • Global Tocopherols Market, By Geography
    • North America
    • Europe
    • Asia-Pacific
    • South America
    • Middle East & Africa
  • Company Profiles:
    • Archer Daniels Midland
    • Cargill Inc.
    • DuPont
    • MERCK KGaA
    • BASF SE
    • Koninklijke DSM NV
    • Davos Life Science PTE Ltd
    • Vitae Caps SA
    • Advanced Organic Materials SA
    • BTSA
    • Zhejiang Worldbestve Biotechnology Co. Ltd
    • Zhejiang Xinhecheng Co. Ltd

Frequently Asked Questions

The global tocopherols market size is estimated to be valued at US$ 1069.7 Million in 2021 and is expected to exhibit a CAGR of 5.58% between 2022 and 2030.
Rising demand for tocopherol in animal feed and ongoing research & development in the field of tocopherol extraction are market.
The soybean oil segment is the leading component segment in the market.
Easy availability of antioxidants alternatives and substantial capital investment are the major factors restraining the market.
Archer Daniels Midland, Cargill Inc., DuPont, MERCK KGaA, BASF SE, Koninklijke DSM NV, Davos Life Science PTE Ltd, Vitae Caps SA, Advanced Organic Materials SA, BTSA, Zhejiang Worldbestve Biotechnology Co. Ltd, and Zhejiang Xinhecheng Co. Ltd

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