Synthetic Vitamin E Market size in 2019 is estimated to be $ 5396.7million, growing at a CAGR of 2.5% during the forecast period 2020-2025. Synthetic vitamin E is a mixture of stereoisomers which have different molecular configurations and lower biological activities. Synthetic Vitamin E is a key ingredient used in the animal feed industry. Growing demand of livestock and increasing adoption of modern animal production are the major factors driving the growth of the market. Moreover, increasing population and advancement of R&D activities further enhance the overall market demand for synthetic vitamin E during the forecast period 2020-2025.
Synthetic Vitamin E Market Segment Analysis – By Application
Based on the Application, Synthetic Vitamin E Market is segmented into Animal Nutrition, Human Nutrition/Dietary Supplements, Functional Food and Beverages, Cosmetics. The cosmetic segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 1.5% during the forecast period 2020-2025. This is mainly owing to increasing number of skin care products. Moreover, this includes skin product such as sun protection SPF forms incorporating vitamin E and providing UVA as well as UVB protection which are contributing to the growth of this segment.
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Synthetic Vitamin E Market Segment Analysis – By Type
Based on the Type, Synthetic Vitamin E Market is segmented into Oil, Powder. The oil segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 1.5% during the forecast period 2020-2025. This is mainly owing to it mostly contains fat-soluble vitamin with antioxidant properties which helps to reducing the symptoms of allergies are contributing to the growth of this segment.
Synthetic Vitamin E Market Segment Analysis – By Geography
Asia Pacific dominated the Synthetic Vitamin E Market share accounting for 40% of the market in 2019. This is mainly owing to increasing awareness of health and growing pharmaceutical and dietary supplement. Moreover, increasing consumption of vitamin E increasing the demand of this market.
However, the North America region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing demand in cosmetic and animal feed industry.
Synthetic Vitamin E Market Drivers
Growing Demand of Livestock
Growing demand of livestock directly translates into increasing demand for animal feed and animal feed additives such as vitamins. Synthetic vitamin E is the key ingredient used in animal feed industry. In addition, demand for synthetic vitamin E for animal feed applications would continue to grow as demand for livestock also grows which are increasing the market growth of synthetic vitamin E.
Increasing Adoption of Modern Animal Production
The increasing demand of adopting modern animal production systems to keep abreast of enhancing domestic demand which increases the use of synthetic vitamin E that contributing to the growth of Synthetic Vitamin E Market.
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Synthetic Vitamin E Market Challenges
Increasing side effects such as head and neck cancer, heart attack etc. are challenging the growth of the market which are reducing the demand of synthetic vitamin E are further restraining its market growth during the forecast period 2020-2025.
Synthetic Vitamin E Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Synthetic Vitamin E Market. Synthetic Vitamin E top 10 companies are BASF SE, Koninklijke DSM N.V., Archer Daniels Midland Company, Merck KGaA, Prinova Group LLC, Zhejiang Medicine Co Ltd, Eisai Food & Chemical Co Ltd, and Royal DSM NV.
On 25 January 2018, Merck has acquisition with Springer and launched a handbook on Vitamin E, thus educating consumers regarding the importance of incorporating vitamin E into their diets.
On 19 January 2016, BASF SE launches new product Natuphos which contains vitamin that helps poultry to utilize phosphorous and key nutrients more efficiently.
In 2019, Asia Pacific dominates the Synthetic Vitamin E Market owing to increasing awareness of health and growing pharmaceutical and dietary supplement.
Growing demand of livestock and increasing adoption of modern animal production is driving the market growth of synthetic vitamin E.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Synthetic vitamin E Market report.
Increasing side effects such as head and neck cancer, heart attack etc. are challenging the growth of the market.
Related Reports :
A. Natural Source Vitamin E Market
B. Vitamins And Nutrition Supplements Market
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