Tocopherol Market Size, Share & Trends Analysis Report By Source (Soybean Oil, Rapeseed/Canola Oil, Corn Oil, Sunflower Oil, Other Sources), By Applications (Food and Beverage, Feed, Pharmaceuticals, Dietary Supplements, Cosmetics/Personal Care) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2022-2030

Market Overview

The global tocopherol market size was valued at USD 1,075.8 million in 2021. It is projected to reach USD 2,288.73 million by 2030, growing at a CAGR of 8.75% during the forecast period (2022-2030).

The importance of tocopherol, a fat-soluble vitamin E active component, as an antioxidant is well known. It is a protective element that photosynthetic organisms can only produce.

They are thought to benefit long-term illnesses such as psychiatric problems, heart health, and other chronic conditions. Additionally, it has been noted that tocopherol is necessary for seed germination and preservation. Soybean, sunflower, and almond oils are the vegetable oils with the highest tocopherol content. They are renowned for treating neurological conditions and lowering the risk of heart disease and other chronic ailments. The market for tocopherol is primarily propelled by the growing recognition of its health advantages. The market has been driven by the expanding applications of tocopherols in animal feed, food and beverage, supplements, cosmetics, medicines, and other end-user industries.

Market Dynamics

Market Drivers

Increasing Demand for Tocopherol in Animal Feed

Animal health and immune system protection depend heavily on antioxidants. Antioxidants are included in animal feeds to enhance oxidative stability and extend the meat's shelf life. The diets of animals must contain vitamin E as animals cannot produce vitamin E. Hence tocopherol is being used more frequently in animal diets. In animal diets, tocopherol must be included in sufficient amounts to safeguard against malnutrition and pathogens. It aids in raising the caliber of meat and eggs.

Moreover, it regulates the animal's body's oxidative stability, lessening bad taste and odor, particularly in beef and pork. A powerful antioxidant defense mechanism, vitamin E is also fat-soluble and is incorporated into the lipid portion of cell membranes. Also, there is a rise in the demand for tocopherols in cattle, particularly in emerging Asia, Africa, and Latin America.

Furthermore, animals with liver and kidney issues should receive additional tocopherol supplementation. The same holds for young animals with weakened immune systems. Supplementing meals for breeding animals with extra vitamin E may increase their productive life span since oxidation is a cause of aging. Given that tocopherol has so many advantageous impacts on animal feed, it is projected that the demand from feed makers will significantly raise the tocopherol market in the upcoming years. The market for animal feed is anticipated to be driven by the rising demand for meat, poultry, and processed meat products.

Growing Health Concerns

It is anticipated that the growing health concerns worldwide will increase the demand for tocopherols. Tocopherols' antioxidant properties are increased when combined with soybean oil, which also aids in maintaining cell membranes and avoiding numerous neurological conditions as well as some chronic illnesses. In addition, tocopherol has uses in the cosmetics sector since it aids in treating acne, blemishes, and sunburns.

Market Restraint

Availability of Antioxidant Alternatives

Tocopherols are sacrificial antioxidants because they offer their phenolic hydrogen atoms to free radicals, transforming them into stable and nonreactive forms. If plant extracts are effective in the ideal dietary matrix and are added in the right amounts, they might be an excellent alternative to tocopherols in delaying autoxidation. Furthermore, plant extracts may or may not be desirable antioxidant additives due to their capacity to taste or add scent to foods. Spices and herbs frequently include significant quantities of phenolic compounds, which act similarly to tocopherols in protecting against free radicals by donating hydrogen. As a result, they can be employed as tocopherol substitutes in food products.

Market Opportunities

Growing Adoption of Tocopherols as an Antioxidant

The sector's development will be aided by shifting demographic trends, rising consumer expenditure, and the rising desire for natural components in cosmetics. The industry statistics will be driven by the rapid expansion in demand for personal grooming products and a shift in consumer focus toward anti-aging and organic solutions. Pollution, hereditary disorders, hormone imbalances, and other factors are predicted to contribute to an increase in skin and hair problems, which will fuel the rise of the tocopherols sector. The growing demand for tocopherols as an antioxidant also drives the global market.

Regional Analysis

The global tocopherol market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific Dominates the Global Market

Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 6.99% during the forecast period. In the Asia-Pacific area, China is one of the top contributors. The most significant exporter of vitamins in the world is China, and because of strong demand from the feed and pharmaceutical industries, the local industry has recently experienced significant development. The demand for vitamin E has dramatically expanded, particularly for exports, due to ongoing R&D activities and revolutionizing advancements in production technology and related equipment. A global science-based corporation in nutrition, health, and sustainable living, Royal DSM established a joint venture with Center & Co. Inc. in China in January 2019 in response to the increasing demand for vitamin E in the area.

North America is anticipated to grow at a CAGR of 6.45%, generating USD 628.84 million during the projected period. The United States contributes the most to the North American region. Gamma-tocopherol from vegetable oils and food products makes up most of the vitamin E in American diets. However, surveys show that most American diets fall short of the RDA recommendations for vitamin E. As a result, the Dietary Reference Intakes (DRIs) established by the Food and Nutrition Board have fixed the recommended intake levels for vitamin E. (FNB). Adults can take up to 1,000 mg/day (1,500 IU/day for the natural form and 1,100 IU/day for the synthetic version) without experiencing any adverse effects.

Europe's tocopherol market is studied across the UK, Germany, France, Russia, and the rest of Europe. Germany is the most significant contributor in Europe. The growing consumer knowledge of vitamin E's metabolic role drives the German tocopherol market. Additionally, the market is increasing due to the increased demand from the senior and nutritious food industries. The German Society of Nutrition advises consuming 12 mg of tocopherol per day for women and 13–15 mg per day for males due to the high concentration of vitamin E in the diet of people in Europe.

LAMEA includes Latin America, the Middle East, and Africa. Brazil has a youthful, expanding, and diversely-based economy. Tocopherol consumption is driven by several factors, including the expanding middle class, rising disposable income, and improved technology. Due to the increase in public health awareness, markets in nations like Chile and Peru are anticipated to expand. In contrast, other nations, such as Venezuela and Columbia, have acknowledged the advantages of tocopherol in dietary supplements for human health.

Segmental Analysis

The global tocopherol market is segmented by source and application.

Based on the source, the global market is bifurcated into soybean oil, rapeseed oil, corn oil, sunflower oil, and other sources.

The soyabean oil segment is the highest contributor to the market and is expected to grow at a CAGR of 6.01% during the forecast period. A byproduct of the vegetable oil industry called soybean oil deodorizer distillate (SODD) can be further processed to create a variety of consumer goods. It can be concentrated in the SODD to provide a long-lasting vitamin supplement. It contains about 11% tocopherols, a group of substances having vitamin E action. In addition, soybean oil is used in numerous industrial processes to extract tocopherol to meet the increased demand from customers who favor natural antioxidants over synthetic ones. Tocopherols are readily available from Vitae Caps SA in various forms, including liquids and powders, for use in the food, nutraceutical, and cosmetic industries.

Rapeseed oils are well-liked by consumers due to their advantages for the skin, heart, and control of diabetes, as well as their aid in controlling weight. Due to the inclusion of 54% gamma-tocopherol and 32% alpha-tocopherol of the total tocopherols has a significant application in personal care products such as oils, creams, and lotions. Tocopherols function as antioxidants in cosmetics, reducing scar tissue, repairing damaged hair, and treating other skin diseases like itching, eczema, and acne, all of which support healthy skin. Customers increasingly favor clean label and non-allergen products, and businesses are developing creative solutions to suit the growing demand.

Safflower oils, linseed oil, grapeseed oil, olive oil, almonds, palm oil, whole grains, wheat germ, olive oil, and green leafy vegetables are additional sources of tocopherol. The richest source of tocopherols is wheat germ oil, with alpha-tocopherol making up 60% of the total tocopherol. It is found in nutritional supplements, cosmetics, and medications. Alpha-tocopherol is found in large quantities in olive and grapeseed oils.

Based on application, the global market is bifurcated into food and beverage, feed, pharmaceuticals, dietary supplements, and cosmetics/personal care.

The dietary supplements segment owns the highest market share and is expected to grow at a CAGR of 6.2% during the projected period. The use of tocopherol in dietary supplements is primarily expanding due to rising public awareness of the health advantages of goods made with functional components. Tocopherols are utilized more frequently in various dietary supplements to help consumers achieve their vitamin and nutritional demands while boosting their physical endurance and muscle strength. Additionally, vitamin E-rich diets are linked to a lower relative risk of lung, bladder, and kidney cancer. Tocopherols were explicitly developed for the food and beverage sector by businesses such Davos Life Science Pte Ltd, Archer Daniels Midland Company, Advanced Organic Materials, and BASF.

Tocopherols play an essential role in the food and beverage business as antioxidants, preservatives, taste protectors, and stabilizers of nutrients. Since tocopherol-fortified foods offer extra nutrients and can be used to make up for an unbalanced diet, the usage of tocopherol in food is rising along with the trend toward a healthy lifestyle. Tocopherol and other vitamins, primarily those found in cereals, fruit juices, margarine, and other spreads, are added to some foods. The market has also been driven by rising consumer awareness regarding using harmful chemical additions to prevent oxidation. Tocopherol prevents the adverse effects of oxidation and extends the shelf life of products without affecting their color or flavor.

As tocopherol in cosmetics serves as a natural skin-conditioning agent and antioxidant, consumers choose vitamin-enriched cosmetics over other cosmetics containing chemicals. They are willing to pay higher rates for the items. It comes in grades that are both natural and synthetic. The enhancement of skin surfaces, the decrease of pigmentation, the management of acne, the elimination of makeup, the reversal of aging effects, and the neutralization of free radicals produced by UV light and pollutants are some additional activities of tocopherols.

Impact of covid-19

When the world witnessed the noble Coronavirus breakout, it disrupted all nations' economies. The government imposed lockdowns to slow the disease's rapid spread. Productions were stopped, all workplaces were closed, public interactions were limited, and temporary manufacturing and trading operations suspensions were implemented globally. Implementing the lockdown and public exchange caused interruption causing a cutting down of the market's operations. The social distancing norms of the government also disrupted the supply chain. Because of lockdowns imposed by the government, businesses and employees could not use the equipment. This forced the farmers to lean towards the help provided by autonomous tractors pushing the autonomous tractor market growth further.

The South Korean nation faced many problems due to the social distancing and public interaction restrictions imposed by the government, which resulted in a workforce shortage. Travel restrictions imposed also restricted the movement of emigrant laborers into the nation. So the country had to ultimately shift towards using autonomous machines to continue their production and operations, to generate income during tough times. But still, during the era of covid, the market had to face a few bumps, such as the level of participation by the companies in the market declined, suppliers and distributors also slowed down their operations, and this negatively affected the farm machinery industry supply chain, resulting in a delay of deliveries of agricultural machinery.

Recent Developments

• July 2022- Merck KGaA- Merck revealed its plans to digitalize production and automate the world's laboratories for its Electronics business division. For the first time, Merck has implemented tried-and-true methods used in manufacturing halls, including the Industrial Internet of Things, Smart Factory, and Industry 4.0, in the laboratory setting.
• June 2022- Cargill, Inc- To reduce malnutrition in the B40 community and raise nutrition knowledge among Malaysians, Rise Against Hunger collaborated with Cargill, our long-term partner, over the years. Rise Against Hunger offers the know-how and presence to make a difference in these impacted communities.