Vitamin E Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Fastest Growing Market||Asia|
*Disclaimer: Major Players sorted in no particular order
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Vitamin E Market Analysis
The vitamin E market is projected to record a CAGR of 4.01% over the forecast period.
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. The primary drivers fueling the growth of the vitamin E market include elements like the rising benefits of vitamin E in the prevention of hair loss and reduction in the possibilities of cardiovascular illnesses. Another significant factor influencing the growth of the vitamin E market is the growing knowledge of the health advantages of vitamins.
Additionally, it is predicted that increased consumer awareness of the risks of vitamin E deficiency, its effectiveness in preventing problems from growing or developing as a result of inactive lifestyles, and the adoption of unhealthy eating habits will accelerate the market's overall expansion. 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.
Moreover, the post-COVID-19 awareness level of consumers has grown, and the demand for various fortified food products has increased. This can also be witnessed in the launch of different fortified food products in recent years. Manufacturers in the industries are focusing on developing natural, nutrients rich, and sustainable food products to cater to the growing consumer demand. Furthermore, consumers nowadays look for natural ingredients in products to take care of their day-to-day nutritional needs. Thus, vitamins are expected to see high growth over the forecast period.
Vitamin E Market Trends
This section covers the major market trends shaping the Vitamin E Market according to our research experts:
Increasing Demand for Vitamin E in Various Applications
An increasing number of skin care products currently available in the market rely on natural ingredients, including various vitamins and minerals, for 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 and UVB protection. Vitamin E applications in dietary supplements and animal feed have gained importance. The dietary supplements segment witnessed immense growth during the COVID-19 pandemic as these products support the body's immune balance. Even post-COVID-19, the demand for vitamin E has continued due to the above-mentioned factors.
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Asia-Pacific is Witnessing the Fastest 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 in 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 of vitamin E is held back by a lack of awareness on a large scale.
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Vitamin E Industry Overview
The vitamin-E market is highly competitive, 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 focus 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 in the market include Koninklijke DSM NV, BASF SE, ADM, Merck KGaA, and Prinova Group LLC.
Vitamin E Market Leaders
Koninklijke DSM N.V.
Archer Daniels Midland Company
Prinova Group LLC
*Disclaimer: Major Players sorted in no particular order
Vitamin E Market News
- December 2021: The Kensing company announced its partnership with Azelis for a better and more feasible distribution of vegetable oils, vitamins, and personal care products in Europe and the Middle East and Africa. Azelis 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.
- June 2021: Prinova launched an e-commerce website to enhance ingredient purchases in the United States. The website offers food-grade vitamins and amino acids. The company aims to deliver B2B vitamin distribution solutions worldwide.
- 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.
Vitamin E Market Report - 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 and Animal Feed
5.3 By Geography
5.3.1 North America
188.8.131.52 United States
184.108.40.206 Rest of North America
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 Rest of Asia-Pacific
5.3.4 South America
126.96.36.199 Rest of South America
5.3.5 Middle East and Africa
188.8.131.52 South Africa
184.108.40.206 Saudi Arabia
220.127.116.11 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Adopted Strategy
6.3 Company Profiles
6.3.1 BASF SE
6.3.2 Koninklijke DSM NV
6.3.3 Archer Daniels Midland Company
6.3.4 Merck KGaA
6.3.5 Prinova Group LLC
6.3.6 Jilin Beisha Pharmaceutical Co. Ltd
6.3.7 BTSA Biotecnologías Aplicadas SL
6.3.8 Aryan International
6.3.9 Orah Nutrichem
6.3.10 The Bountiful Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Vitamin E Market Research FAQs
What is the current Vitamin E Market size?
The Vitamin E Market is projected to register a CAGR of 4.01% during the forecast period (2023-2028).
Who are the key players in Vitamin E Market?
BASF SE, Koninklijke DSM N.V., Archer Daniels Midland Company, Merck KGaA and Prinova Group LLC are the major companies operating in the Vitamin E Market.
Which is the fastest growing region in Vitamin E Market?
Asia is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Vitamin E Market?
In 2023, the Europe accounts for the largest market share in the Vitamin E Market.
Vitamin E Industry Report
Statistics for the 2023 Vitamin E market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Vitamin E analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.