|Study Period:||2016 -2027|
|Fastest Growing Market:||Asia|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The Vitamin E Market is projected to record a CAGR of 4.21% during the forecast period (2022-2027).
Due to COVID-19, the vitamin E market has witnessed a surge in demand due to its benefits and other vitamins present in the market. The sales of supplements like vitamins and omega-3 fatty acids have witnessed immense demand. This resulted in the launch of new innovative products to reach the demand. It has been studied and proved that supplementation of vitamins A, B, C, D, and E enhances the inflammatory response and decreases the severity of COVID-19 patients suffering at the ICU stage. Which eventually led to immense growth in the market.
The natural product type segment is anticipated to be the fastest growing segment within the global vitamin E market, driven by the tight supply of synthetic vitamin E, which caused a gradual increase in the pricing over the last few years.
Moreover, the rising demand for functional food and beverages and dietary supplements derived from natural ingredients is further expected to fuel the market for natural vitamin E in the near future.
Scope of the Report
Vitamin E is a group of fat-soluble compounds that include four tocopherols and four tocotrienols. The vitamin E market is segmented by product type into natural and synthetic. By application, the global vitamin E market is segmented into functional food and beverages, pharmaceuticals and dietary supplements, infant nutrition, pet food & animal feed and cosmetics. By geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. The report offers the market size and forecasts in values (USD) for all the above segments.
|By Product Type|
|Functional Food and Beverages|
|Pharmaceuticals and Dietary Supplements|
|Pet Food & Animal Feed|
Key Market Trends
Increasing Demand for Vitamin E in Application Areas
The increasing number of skin care products currently available in the market rely on natural ingredients, including various vitamins and minerals, thus maintaining healthy and glowing skin. This has created an immense demand for vitamin E in cosmetic applications. This includes skin products such as sun protection SPF forms incorporating vitamin E and providing UVA as well as UVB protection. For example, In Turkey, Avon launched a facial care range relying on SPF and vitamin E, thus, providing sun protection and anti-aging benefits. Vitamin E application in dietary supplements and animal feed gained importance. Especially the dietary supplements segment witnessed immense growth during the COVID 19 pandemic, as these products support the body's immune balance. The range also includes several other minerals and vitamins in order to provide healthy skin.
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Asia-Pacific is Witnessed Fastest Growing Growth
The Vitamin market across Asia-Pacific countries is witnessing a rapid change, where consumers are now more aware with regards to the health benefits of several vitamin types. China is the largest producer of vitamin E across the Asia Pacific market. The country has also expanded its domestic market during recent years mainly attributable to growing pharmaceutical and dietary supplement markets across the country. Furthermore, in countries such as India, despite an increase in awareness of the importance of several vitamins, only 9% of Indian consumers are aware of the health benefits of vitamin E. While most individuals resort to vitamin E for common ailments, the true potential vitamin E still witnesses a lack of awareness on a large scale.
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The vitamin E market is a highly competitive market, with the presence of various domestic and international players. The market leaders within this industry have adopted competitive strategies to sustain their position in the industry. The major players primarily focused on expansions and product innovations to please different sections of customers, like introducing dietary supplements with fun-filled elements like gummies, jellies, and candies. The major players include Koninklijke DSM NV, BASF SE, ADM, Merck KGaA and Prinova Group LLC are the major players in the vitamin E market.
· In December 2021, Kensing company announced its partnership with Azelis for a better and feasible distribution of vegetable oils, vitamins, and personal care products in Europe, the Middle-East, and Africa. Azelis company has a strong distribution network across these regions in the B2B segment. The company mainly aims to distribute its mainstream products Covi-ox, Covitol, Copherol, and Generol.
· In June 2021, Prinova launched an e-commerce website to enhance ingredient purchases in the United States. The website offers the best quality food-grade vitamins and amino acids. The company aims to deliver B2B vitamin distribution solutions across the world.
· In June 2021, One Rock Capital acquired the specialty chemical facility and other business segments from BASF in Kankakee, Illinois, United States. The firm aims to upgrade the facility and manufacture vegetable oils, natural vitamin E, and other specialty chemicals in the plant.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.2 By Application
5.2.1 Functional Food and Beverages
5.2.2 Pharmaceuticals and Dietary Supplements
5.2.3 Infant Nutrition
5.2.4 Pet Food & Animal Feed
5.3.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.3.4 South America
184.108.40.206 Rest of South America
5.3.5 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Saudi Arabia
22.214.171.124 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Share Analysis
6.2 Most Active Companies
6.3 Most Adopted Strategy
6.4 Company Profiles
6.4.1 BASF SE
6.4.2 Koninklijke DSM NV
6.4.3 Archer Daniels Midland Company
6.4.4 Merck KGaA
6.4.5 Prinova Group LLC
6.4.6 Jilin Beisha Pharmaceutical Co. Ltd
6.4.7 BTSA Biotecnologías Aplicadas SL
6.4.8 Aryan International
6.4.9 Orah Nutrichem
6.4.10 The Bountiful Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Vitamin E Market market is studied from 2016 - 2027.
What is the growth rate of Vitamin E Market?
The Vitamin E Market is growing at a CAGR of 4.21% over the next 5 years.
Which region has highest growth rate in Vitamin E Market?
Asia is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Vitamin E Market?
Europe holds highest share in 2021.
Who are the key players in Vitamin E Market?
BASF SE, Koninklijke DSM N.V., Archer Daniels Midland Company, Merck KGaA, Prinova Group LLC are the major companies operating in Vitamin E Market.