Market Research Report
Global Tocopherol Market Forecast 2020-2028
|Published by||Inkwood Research||Product code||940530|
|Published||Content info||175 Pages
Delivery time: 2-3 business days
|Global Tocopherol Market Forecast 2020-2028|
|Published: June 8, 2020||Content info: 175 Pages||
The global tocopherol market is estimated to grow at a CAGR of 5.46% during the forecast period, 2020-2028. The factors boosting the global market growth are the skyrocketing demand for tocopherol in animal feed, the mounting demand for vitamin E in cosmetics, and the high demand for tocopherol extraction.
Tocopherols are strong natural antioxidants largely used in the food industry, cosmetics, and animal nutrition. They are non-toxic components that help in extending the shelf-life of food product, and entail global acceptance. Antioxidants are essential for immune defense and the health of animals. Vitamin E, a very important component of animal diet, cannot be synthesized by animals. Hence tocopherols are increasingly used in animal diets to protect them from malnutrition, and it also helps to improve the quality of eggs and meat. The growing demand for poultry, meat, and processed meat is expected to drive the animal feed market. The availability of anti-oxidant alternatives acts as a market hindrance. Organic green tea extracts and rosemary extract are the possible alternatives for tocopherols in some food applications.
The market is innovation-driven as the companies are introducing new and improved tocopherols. The implementation of regulations and the need for ingredient information have led to a high degree of transparency in the market. The rising costs of raw materials that are utilized in the production of tocopherols lead to an imbalance between supply and demand of tocopherols. Such factors hinder the market growth.
The global tocopherol market is reviewed geographically on the basis of the regions of North America, Europe, Asia Pacific, and the Rest of the World. Asia Pacific region is the dominating market with the largest revenue share in 2019, and is also set to record the highest CAGR by the end of the forecast period, owing to increasing urban income and the shifting preference of the consumers towards products derived from natural sources.
The market is governed by international players. Some of the eminent participants include Matrix Fine Sciences, Zhejiang Worldbestve Biotechnology Co. Ltd, Archer Daniels Midland Company, Royal DSM N.V., Merck KGaA, among others.
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