Synthetic Vitamin E Market Growth To Be Driven By The Increasing Demand From The Pharmaceuticals Industry
Synthetic vitamin E is produced from different petrochemicals. It is a mixture of eight stereoisomers. In synthetic vitamin E, seven of the stereoisomers have diverse molecular configurations and lower biological activities as compared to natural Vitamin E. The synthetic versions of vitamin E have fewer health benefits as compared to natural vitamin E. The synthetic vitamin E or dl-alpha-tocopherol is the most inexpensive and is widely sold supplement form usually as the acetate ester.
There are various types of synthetic vitamin E available in the market namely Synthetic Vitamin E Power and Synthetic Vitamin E Oil.
The worldwide market for synthetic vitamin E is expected to grow higher at an approximate CAGR of around 4.4% over the forecast period (2019-2028) and will be valued at US$ 1,921.7 Mn in 2018 and is expected to reach to US$ 1, 2,948.3 Mn in 2028.
By application, the market is mainly divided into Automotive, Feed Industry, and Pharmaceuticals. The adoption of synthetic vitamin E is high in the pharmaceuticals industry. It is used for the treatment of diseases including cardiovascular diseases, bone loss, eye diseases, diabetes mellitus and associated comorbidities, neurological diseases, inflammatory diseases, lipid disorders, and radiation damage. In addition, it is widely used in nutraceutical supplement, due to help in improving physical endurance, reducing muscle damage after exercise, increasing energy and aids in improving muscle strength. Synthetic vitamin E demand is continuously increasing from the Feed Industry, owing to rapid urbanization and industrialization is upsurging the demand for livestock products in many of the developing regions of Latin America, Asia Pacific, and Africa. In addition, countries, such as China, Brazil, Russia, and other Asian and African regions are adopting modern animal production systems in order to enhance domestic demand.
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The major challenges of synthetic vitamin E are the side effects associated with it and stringent government regulations by health authority bodies. In addition, some untapped emerging economies are anticipated to provide a lucrative growth opportunity for the leading player operating in the market.
Based on regions, the market has been categories across the North America region, Europe region, Asia Pacific region, Latin America region, and the Middle East and Africa region. Among these regions, the demand for synthetic vitamin E is significantly high in the North America region. This is primarily attributed to, increasing awareness about the importance of supplementary nutrients among consumers, wider availability of products, and changing consumer’s preferences towards healthy diet and food. Asia Pacific region is expected to be the emerging market for synthetic vitamin E, owing to rapid urbanization, increasing population, rising geriatric population. In addition, India and China population are a willingness to pay high for a healthy diet including the use of vitamin supplements in order to meet their daily nutritious necessities.
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Some of the key players profiled in the global synthetic vitamin E market report include NHU, BASF, Beisha, Zhejiang Medicine, PKU HealthCare, DSM, and Zhejiang Langbo.
- In 2018, BASF SE, which is Germany-based chemical company was the second highest global producer of synthetic vitamin E, with approximately 23,500 tons per annum capacity manufactured at the Germany and China manufacturing plants
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