Vitamin E Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Vitamin E Market is projected to grow at a CAGR of 4.21% during the forecast period (2022-2027).

Due to COVID-19 the vitamin E market have witnessed a surge in demand due to its benefits along with other vitamins present in the market. The sales of supplements like vitamins, omega 3 fatty acids have witnessed immense demand. This resulted in launch of new innovative products to reach the demand. It is studied and proved that supplementation of vitamin A, B, C, D and E enhances the inflammatory response and decreases the severity of Covid 19 patients suffering at ICU stage. Which eventually led to immense growth in the market.

The natural product type segment is anticipated to be the fastest growing segment, within the global vitamin E market, driven by tight supply in synthetic vitamin E which caused gradual increase in the pricing over the last few years.

Moreover, 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 in the near future.

Key Market Trends

Increasing Demand for Vitamin E in Application Areas

The increasing number of skin care products currently available in the market are relying on natural ingredients including, various vitamins and minerals thus, maintain healthy and glowing skin. This has created an immense demand for vitamin E in cosmetic applications. This includes skin product such as sun protection SPF forms incorporating vitamin E and providing UVA as well as UVB protection. For example, In Turkey, Avon launched a facial care range relying on SPF and vitamin E thus, providing sun protection and anti-aging benefits. Vitamin E appliccation in dietary suppplements and animal feed gainen importance. Especially dietary supplements segment witnessed immence growth during the COVID 19 pandemic, as these product support in immune balance in the body. The range also includes several other minerals and vitamins in order to provide healthy skin.

Asia Pacific is Witnessed Fastest Growing Growth

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 and the country has also expanded its domestic market during recent years mainly attributable to growing pharmaceutical and dietary supplement market 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 vitamin E still witnesses a lack of awareness on a large scale.

Competitive Landscape

The vitamin E market is a highly competitive market, 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 focused on expansions and product innovations to please different sections of customers like introducing dietary supplements with fun filled elements like gummie, jellys and candies. The major players include Koninklijke DSM NV, BASF SE, ADM, Merck KGaA and Prinova Group LLC are the major players in the global vitamin E market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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