The global market for natural source vitamin E is extremely consolidated and competitive in nature, thanks to the key players that are dominating the overall market, states a research study by Transparency Market Research (TMR). In 2015, the leading players operating in the global natural source vitamin E market, namely DSM N.V., BASF SE, Archer Daniels Midlands Company, and Wilmar Spring Fruit Nutrition Products Co. Ltd. collectively accounted for a share of 57.9% of the global market. In order to enhance their market presence and maintain their dominance, the leading players are focusing on the expansion of application base and new product development. In addition, the rising number of mergers and acquisitions and strategic partnerships are anticipated to encourage market growth in the near future.
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As per the research report by Transparency Market Research, in 2015, the global market for natural source vitamin E was valued at US$765.6 mn. The market is projected to reach a value of US$2,251.7 mn by the end of 2024, registering a progressive 12.80% CAGR between 2016 and 2024.
North America and Europe to Witness progressive Growth in Global Market
Among the key regional segments, North America is expected to lead the global natural source vitamin E market and hold a significant share in the next few years. Europe is projected to follow North America and witness healthy growth in the forecast period. The rising awareness among consumers in these developed regions concerning a healthy lifestyle and the growing need to consume essential nutrients through different supplements are the key factors encouraging the growth of natural source vitamin E market in North America and Europe. On the flip side, Asia Pacific is projected to witness robust growth in the forecast period, owing to the rising disposable income and easy availability of products.
On the basis of application, the dietary supplements segment is estimated to witness robust growth throughout the forecast period. In 2015, this segment account for nearly half of the global market and is estimated to continue its dominance in the near future. The growing awareness among consumers related to the well-being and a healthy lifestyle are some of the major factors that are anticipated to fuel the growth of the dietary supplements segment in the coming years. Furthermore, the emergence of new products and innovations is likely to contribute towards the development of the market.
Increasing Awareness for Healthy Lifestyle to Boost Market Growth
The global natural source vitamin E market is growing at a progressive rate, thanks to the rising awareness among consumers regarding the rising need to consume vitamin E. The unhealthy diet, sedentary lifestyles, and the growing geriatric population have resulted in a high prevalence of non-communicable chronic diseases, such as cardiovascular and respiratory diseases and diabetes. The health benefits offered by vitamin E and the easy availability of products are further estimated to accelerate the growth of the market in the next few years.
Furthermore, the rising disposable income among consumers, especially in emerging economies and the developing economic conditions are expected to boost the demand for dietary supplements in order to lead a healthy lifestyle, thus propelling global natural source vitamin E market. In addition, the inclination of consumers towards healthy diet and strict health regimens are likely to offer promising and lucrative opportunities for market players.
High Cost of Production to Inhibit Market Growth
The global market for natural source vitamin E is expected to witness several challenges throughout the forecast period, which are likely to restrict the growth of the overall market. The high cost of production is one of the vital factors that is anticipated to hamper the growth of the overall market in the next few years. Nonetheless, the growing focus of key players on expansion of the product portfolio and research and development activities are predicted to supplement the growth of the market.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Natural Source Vitamin E Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024.”
The global natural source vitamin E market has been segmented as below:
Global Natural Source Vitamin E Market, by Product Type
Global Natural Source Vitamin E Market, by Application
- Dietary Supplements
- Food and Beverages
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