The global vitamin E market is forecasted to record lucrative growth on account of rising consumer awareness towards personal health & hygiene. Nowadays, consumers are willing to spend more on functional foods & beverages like health supplements and low-calorie items to attain necessary nutrition.
Proliferating demand for organic and healthy ingredients supported by increasing imposition of federal guidelines to enhance regular nutritional diet could propel the adoption of vitamin E products. Changing lifestyle patterns and hectic schedules have given rise to several abnormalities in metabolism deficiency or dietary fat absorption. As a result, consumers are preferring to invest in health supplements and nutraceuticals to maintain healthy lifestyle. Considering these aspects, Global Market Insights, Inc., predicts that the vitamin E market could surpass USD 3 billion by the year 2026.
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Meanwhile, major manufacturers are pouring substantial investments towards innovative R&D activities to enhance their product’s flowability, shelf life and dispersibility. For example, a recent randomized controlled human trial on Super Vitamin E Tocotrienol (EVNol SupraBio®) revealed that the product could benefit consumer’s metabolic health and aid in maintaining blood sugar balance, healthy immune system function and liver health (fatty liver).
In terms of applications, the vitamin E market is mainly bifurcated into functional food & beverages, animal nutrition, cosmetics and human nutrition/dietary supplements. Out of these, the functional food & beverage segment is expected to record a growth rate of 5.5% within the predicted timeframe owing to rising emphasis on attaining an improved quality of living and lower risk of chronic diseases.
Functional foods are gaining heavy demand from European and North American regions to improve overall health and lower the risk of chronic diseases like cardiovascular disease, cancer, and osteoporosis. According to a CDC report, heart disease is regarded as one of the key causes of death for both women and men in the United States, with nearly 647,000 citizens dying from heart disease every year.
On the regional front, Europe is considered as an ideal region for vitamin E industry and is expected to maintain a growth rate of more than 4.5% during the forecast timeframe. The region has a strong potential market for cosmetics, fortified foods & beverage products and nutraceuticals. Mounting demand for highly nutritious food coupled with enforcement of favorable guidelines and initiatives by federal agencies to promote vitamins & minerals consumption could play a crucial role in driving product demand.
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Companies operating in the vitamin E industry are also taking part in strategic expansion initiatives such as acquisitions, partnerships, R&D activities and joint ventures to improve their geographical and market presence. Taking July 2018 for instance, ADM revealed that it has acquired the animal nutrition business of Neovia Group for USD 1.8 billion. This acquisition would allow the company to expand its geographical reach, product portfolio and strengthen its overall operations.
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