Inkwood Research estimates that the global tocopherol market will evolve at a CAGR of 5.46% during the forecast period and will reach revenue of $1.36 billion by 2028. The base year considered for the market study is 2019. The forecasted period is between 2020 and 2028. The surging demand for tocopherols in animal feed is fueling the growth of the global tocopherol market. Vitamin E is an essential component of livestock diets.
GLOBAL TOCOPHEROL MARKET FORECAST 2020-2028
Global Tocopherol Market by Compound (Alpha Tocopherol, Gamma Tocopherol, Beta Tocopherol, Delta Tocopherol) by Source (Soyabean Oil, Rapeseed / Canola Oil, Sunflower Oil, Corn Oil, Other Sources) by Application (Food and Beverage, Feed, Pharmaceuticals, Dietary Supplements, Cosmetics/personal Care) and by Geography.
Inkwood Research estimates that the global tocopherol market will evolve at a CAGR of 5.46% during the forecast period and will reach revenue of $1.36 billion by 2028. The base year considered for the market study is 2019. The forecasted period is between 2020 and 2028.
The factors propelling the global tocopherol market growth are:
- Snowballing demand for tocopherol in animal feed
- High demand for tocopherol extraction
- Swelling demand for Vitamin E in cosmetics
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The surging demand for tocopherols in animal feed is fueling the growth of the global tocopherol market. Vitamin E is an essential component of livestock diets. Vitamin E cannot be synthesized by animals, so the usage of tocopherol is increasing in animal diets. A certain amount of tocopherol is essential in animal nourishment to shelter them from pathogens and malnutrition. Due to several beneficial effects of tocopherol on animal feed, it is anticipated that the tocopherol market will be heavily boosted in the coming years by the plea from feed manufacturers. Moreover, key players are focusing on increasing their expenditure on R&D activities, with an aim to differentiate their offerings, which, in turn, gives them an upper hand. For instance, the Chinese pharmaceutical company, Zhejiang Worldbestve Biotechnology Co. Ltd, developed various production technologies that achieved a national invention patent.
Soyabean oil is the dominating source segment in terms of revenue, with a market share of 64.78% in 2019. Soybean oil is one of the most extensively used vegetable oils, globally. It comprises of a variety of fatty acids that offers several benefits to human health, and thus, is considered healthier, as compared to other vegetable oils. Furthermore, soybean oil is utilized in many industrial applications for the extraction of tocopherol, so as to meet the rising demand from consumers preferring natural antioxidants instead of synthetic ones.
On the other hand, the rapeseed/canola oil category in the source segment is projected to record the fastest CAGR of 5.93% during the forecast period. Rapeseed oils are rich in unsaturated fatty acids, and thus, help in reducing the risk of cardiovascular diseases, which has fueled the demand for rapeseed oil extracted tocopherols in the food industry. The application of rapeseed oil in the animal feed segment for the nutrition of animals is expected to increase the demand for tocopherols in the feed industry in the next few years.
However, the increasing price of the raw materials used in the production of tocopherols is likely to be the main factor responsible for the imbalance between the supply and demand of tocopherols. The shortage in the supply of distillate of soybean oil is expected to hamper the production of tocopherol, thus, adversely affecting demand. Many manufacturers are currently looking for alternatives, such as deodorized distillates of palm oil and rapeseed to produce tocopherol, in order to offset the expected imbalance between supply and demand for tocopherol in the coming years.
The report on the global tocopherol market covers the segmentation analysis of compound, source, and application.
Market by Compound:
- Alpha Tocopherols
- Gamma Tocopherols
- Beta Tocopherols
- Delta Tocopherols
Market by Source:
- Soybean Oil
- Rapeseed/Canola Oil
- Sunflower Oil
- Corn Oil
- Other Sources
Market by Application:
- Food and Beverage
- Feed
- Pharmaceuticals
- Dietary Supplements
- Cosmetics/Personal Care
On the basis of geography, the global tocopherol market has been segmented into four major regions, which includes:
- North America: the United States and Canada
- Europe: the United Kingdom, France, Germany, Italy, Russia, Belgium, Poland, and Rest of Europe
- Asia Pacific: China, Japan, India, South Korea, Thailand, Indonesia, Vietnam, Australia & New Zealand, and Rest of Asia Pacific
- Rest of World: Latin America, the Middle East & Africa
The Asia Pacific tocopherol market is the fastest growing with a CAGR of 5.41%, and held the largest market share of 37.48% in terms of revenue in 2019. The growing expenditure has steered growth in domestic tocopherol market in the Asia Pacific region, and has increased the demand for tocopherols. They are naturally derived antioxidants, and since the customers in the region are fluctuating their interest towards foods obtained from natural sources, the tocopherols market is expected to grow at a stable pace in this region. For Instance, In January 2019, Royal DSM, partnered for collaboration with Nenter & Co. Inc. in China. The deal included all the production and related resources of vitamin E.
Some of the prominent players involved in global tocopherol market are:
- Dupont
- Merck KGaA
- BASF SE
- Others
Key strategies adopted by some of the tocopherol companies are:
In September, 2019, DSM NV created a joint venture with Nenter in China, which will include the company’s products and related assets for vitamin E. The joint venture is set to operate and acquire the vitamin E production facilities in Jingzhou, Hubei, China. They are also set to have a minority shareholding in Nenter’s Shishou facility in the same region.
Key findings of the global tocopherol market are:
- The Asia Pacific dominates the global tocopherol market by capturing the largest market share in 2019.
- The Asia Pacific tocopherol market is estimated to register the highest CAGR of 5.41% during the forecast period of 2020-2028.
- Demand for Vitamin E in cosmetics is driving market
- The rapeseed/canola oil category in the source segment is projected to grow with a CAGR of 5.93% during the forecasted period.
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- RESEARCH SCOPE & METHODOLOGY
- STUDY OBJECTIVES
- SCOPE OF STUDY
- METHODOLOGY
- ASSUMPTIONS & LIMITATIONS
- EXECUTIVE SUMMARY
- MARKET SIZE & ESTIMATES
- MARKET OVERVIEW
- MARKET DYNAMICS
- MARKET DEFINITION
- KEY DRIVERS
- SNOWBALLING DEMAND FOR TOCOPHEROL IN ANIMAL FEED
- HIGH DEMAND FOR TOCOPHEROL EXTRACTION
- SWELLING DEMAND FOR VITAMIN E IN COSMETICS
- KEY RESTRAINTS
- ACCESSIBILITY OF ANTIOXIDANT ALTERNATIVES
- IMBALANCE IN SUPPLY FOR TOCOPHEROLS
- KEY ANALYTICS
- KEY INVESTMENT INSIGHTS
- PORTER’S FIVE FORCE ANALYSIS
- BUYER POWER
- SUPPLIER POWER
- SUBSTITUTION
- NEW ENTRANTS
- INDUSTRY RIVALRY
- OPPORTUNITY MATRIX
- VENDOR LANDSCAPE
- MARKET BY COMPOUND
- ALPHA TOCOPHEROL
- GAMMA TOCOPHEROL
- BETA TOCOPHEROL
- DELTA TOCOPHEROL
- MARKET BY SOURCE
- SOYABEAN OIL
- RAPESEED / CANOLA OIL
- SUNFLOWER OIL
- CORN OIL
- OTHER SOURCES
- MARKET BY APPLICATION
- FOOD AND BEVERAGE
- FEED
- PHARMACEUTICALS
- DIETARY SUPPLEMENTS
- COSMETICS/PERSONAL CARE
- GEOGRAPHICAL ANALYSIS
- NORTH AMERICA
- UNITED STATES
- CANADA
- EUROPE
- UNITED KINGDOM
- GERMANY
- FRANCE
- ITALY
- RUSSIA
- BELGIUM
- POLAND
- REST OF EUROPE
- ASIA PACIFIC
- CHINA
- JAPAN
- INDIA
- SOUTH KOREA
- INDONESIA
- THAILAND
- VIETNAM
- AUSTRALIA & NEW ZEALAND
- REST OF ASIA PACIFIC
- REST OF WORLD
- LATIN AMERICA
- MIDDLE EAST & AFRICA
- NORTH AMERICA
- COMPANY PROFILES
- ARCHER DANIELS MIDLAND COMPANY
- CARGILL INCORPORATED
- DUPONT
- MERCK KGAA
- BASF SE
- ROYAL DSM
- DAVOS LIFE SCIENCES PTE LTD
- VITAE CAPS SA
- ADVANCED ORGANIC MATERIALS SA
- BTSA
- ZHEJIANG WORLDBESTVE BIOTECHNOLOGY CO LTD
- ZHEJIANG XINHECHENG CO LTD
- COFCO TECH BIOENGINEERING CO LTD
- VANCE GROUP LTD
- MATRIX FINE SCIENCES PVT LTD
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT – TOCOPHEROL
TABLE 2: GLOBAL TOCOPHEROL MARKET, BY COMPOUND, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 3: GLOBAL TOCOPHEROL MARKET, BY COMPOUND, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 4: GLOBAL ALPHA TOCOPHEROL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 5: GLOBAL ALPHA TOCOPHEROL MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 6: GLOBAL GAMMA TOCOPHEROL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 7: GLOBAL GAMMA TOCOPHEROL MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 8: GLOBAL BETA TOCOPHEROL MARKET, BY REGION, HISTORICAL YEARS 2016-2019 (IN $ MILLION/BILLION)
TABLE 9: GLOBAL BETA TOCOPHEROL MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 10: GLOBAL DELTA TOCOPHEROL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 11: GLOBAL DELTA TOCOPHEROL MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 12: GLOBAL TOCOPHEROL MARKET, BY SOURCE, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 13: GLOBAL TOCOPHEROL MARKET, BY SOURCE, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 14: GLOBAL SOYABEAN OIL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 15: GLOBAL SOYABEAN OIL MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 16: GLOBAL RAPESEED /CANOLA OIL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 17: GLOBAL RAPESEED /CANOLA OIL MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 18: GLOBAL SUNFLOWER OIL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 19: GLOBAL SUNFLOWER OIL MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 20: GLOBAL CORN OIL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 21: GLOBAL CORN OIL MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 22: GLOBAL OTHER SOURCES MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 23: GLOBAL OTHER SOURCES MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 24: GLOBAL TOCOPHEROL MARKET, BY APPLICATION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 25: GLOBAL TOCOPHEROL MARKET, BY APPLICATION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 26: GLOBAL FOOD AND BEVERAGE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 27: GLOBAL FOOD AND BEVERAGE MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 28: GLOBAL FEED MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 29: GLOBAL FEED MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 30: GLOBAL PHARMACEUTICALS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 31: GLOBAL PHARMACEUTICALS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 32: GLOBAL DIETARY SUPPLEMENTS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 33: GLOBAL DIETARY SUPPLEMENTS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 34: GLOBAL COSMETICS/PERSONAL CARE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 35: GLOBAL COSMETICS/PERSONAL CARE MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 36: GLOBAL TOCOPHEROL MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 37: GLOBAL TOCOPHEROL MARKET, BY GEOGRAPHY, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 38: NORTH AMERICA TOCOPHEROL MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 39: NORTH AMERICA TOCOPHEROL MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 40: EUROPE TOCOPHEROL MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 41: EUROPE TOCOPHEROL MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 42: ASIA PACIFIC TOCOPHEROL MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 43: ASIA PACIFIC TOCOPHEROL MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)
TABLE 44: REST OF WORLD TOCOPHEROL MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)
TABLE 45: REST OF WORLD TOCOPHEROL MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)
LIST OF FIGURES
FIGURE 1: KEY INVESTMENT INSIGHTS
FIGURE 2: PORTER’S FIVE FORCE ANALYSIS
FIGURE 3: OPPORTUNITY MATRIX
FIGURE 4: VENDOR LANDSCAPE
FIGURE 5: GLOBAL TOCOPHEROL MARKET, GROWTH POTENTIAL, BY COMPOUND, IN 2019
FIGURE 6: GLOBAL TOCOPHEROL MARKET, BY ALPHA TOCOPHEROL, 2020-2028 (IN $ MILLION)
FIGURE 7: GLOBAL TOCOPHEROL MARKET, BY GAMMA TOCOPHEROL, 2020-2028 (IN $ MILLION)
FIGURE 8: GLOBAL TOCOPHEROL MARKET, BY BETA TOCOPHEROL, 2020-2028 (IN $ MILLION)
FIGURE 9: GLOBAL TOCOPHEROL MARKET, BY DELTA TOCOPHEROL, 2020-2028 (IN $ MILLION)
FIGURE 10: GLOBAL TOCOPHEROL MARKET, GROWTH POTENTIAL, BY SOURCE, IN 2019
FIGURE 11: GLOBAL TOCOPHEROL MARKET, BY SOYABEAN OIL, 2020-2028 (IN $ MILLION)
FIGURE 12: GLOBAL TOCOPHEROL MARKET, BY RAPESEED /CANOLA OIL, 2020-2028 (IN $ MILLION)
FIGURE 13: GLOBAL TOCOPHEROL MARKET, BY SUNFLOWER OIL, 2020-2028 (IN $ MILLION)
FIGURE 14: GLOBAL TOCOPHEROL MARKET, BY CORN OIL, 2020-2028 (IN $ MILLION)
FIGURE 15: GLOBAL TOCOPHEROL MARKET, BY OTHER SOURCES, 2020-2028 (IN $ MILLION)
FIGURE 16: GLOBAL TOCOPHEROL MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2019
FIGURE 17: GLOBAL TOCOPHEROL MARKET, BY FOOD AND BEVERAGE, 2020-2028 (IN $ MILLION)
FIGURE 18: GLOBAL TOCOPHEROL MARKET, BY FEED, 2020-2028 (IN $ MILLION)
FIGURE 19: GLOBAL TOCOPHEROL MARKET, BY PHARMACEUTICALS, 2020-2028 (IN $ MILLION)
FIGURE 20: GLOBAL TOCOPHEROL MARKET, BY DIETARY SUPPLEMENTS, 2020-2028 (IN $ MILLION)
FIGURE 21: GLOBAL TOCOPHEROL MARKET, BY COSMETICS/PERSONAL CARE, 2020-2028 (IN $ MILLION)
FIGURE 22: NORTH AMERICA TOCOPHEROL MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)
FIGURE 23: UNITED STATES TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 24: CANADA TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 25: EUROPE TOCOPHEROL MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)
FIGURE 26: UNITED KINGDOM TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 27: GERMANY TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 28: FRANCE TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 29: ITALY TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 30: RUSSIA TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 31: BELGIUM TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION/BILLION)
FIGURE 32: POLAND TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 33: REST OF EUROPE TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 34: ASIA PACIFIC TOCOPHEROL MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)
FIGURE 35: CHINA TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 36: JAPAN TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 37: INDIA TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 38: SOUTH KOREA TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 39: INDONESIA TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 40: THAILAND TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 41: VIETNAM TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 42: AUSTRALIA & NEW ZEALAND TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 43: REST OF ASIA PACIFIC TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 44: REST OF WORLD TOCOPHEROL MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)
FIGURE 45: LATIN AMERICA TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
FIGURE 46: MIDDLE EAST & AFRICA TOCOPHEROL MARKET, 2020-2028 (IN $ MILLION)
- MARKET BY COMPOUND
- ALPHA TOCOPHEROL
- GAMMA TOCOPHEROL
- BETA TOCOPHEROL
- DELTA TOCOPHEROL
- MARKET BY SOURCE
- SOYABEAN OIL
- RAPESEED / CANOLA OIL
- SUNFLOWER OIL
- CORN OIL
- OTHER SOURCES
- MARKET BY APPLICATION
- FOOD AND BEVERAGE
- FEED
- PHARMACEUTICALS
- DIETARY SUPPLEMENTS
- COSMETICS/PERSONAL CARE
- GEOGRAPHICAL ANALYSIS
- NORTH AMERICA
- UNITED STATES
- CANADA
- EUROPE
- UNITED KINGDOM
- GERMANY
- FRANCE
- ITALY
- RUSSIA
- BELGIUM
- POLAND
- REST OF EUROPE
- ASIA PACIFIC
- CHINA
- JAPAN
- INDIA
- SOUTH KOREA
- INDONESIA
- THAILAND
- VIETNAM
- AUSTRALIA & NEW ZEALAND
- REST OF ASIA PACIFIC
- REST OF WORLD
- LATIN AMERICA
- MIDDLE EAST & AFRICA
- NORTH AMERICA
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