The global tocopherols market is expected to reach USD 6.98 Billion by 2028, at a CAGR of 8.72% from 2021 to 2028.
NEWARK, UNITED STATES, NEW JERSEY, October 26, 2021 /EINPresswire.com/ — As per the report published by The Brainy Insights, the global tocopherols market is projected to grow from USD 3.55 billion in 2020 to USD 6.98 billion by 2028, at a CAGR of 8.72% during the forecast period 2021-2028. The North America region led the global tocopherols market with a market share of 34.14% in 2020. This is because extensive application of tocopherol in soybean and corn oil has driven intensive usage of tocopherol in the american market. Europe's tocopherol market is fueled by massive demand from the health, cosmetics, personal care, nutraceutical, medicinal, and animal welfare industries. Such industries use both natural and semi-natural antioxidants, developed with tocopherol.
Major players in the global tocopherols market are Cargill, Advance Organic Material S.A., B&D Nutritional Ingredients Inc., Archer Daniels Midlands Company, BASF S.E., Davos Life Science Pte. Ltd. and DSM, among others. Tocopherols are known for promoting heart safety, improving neurological conditions and other chronic diseases. Tocopherols are also used in the food processing sector because they help improve the food products' shelf-life. Rising demand for high-quality poultry meat and pork has boosted the feed industry's need for tocopherol. Also, the increase in perception of a healthier lifestyle is widening the tocopherols market's growth horizon.
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The type segment is divided into rapeseed oil, soybean oil and corn oil, and sunflower oil. The soybean oil segment emerged as the leader in the global tocopherols market with a market share of around 32% in 2020 because soybean oil is a significant source of tocopherols, owing to its strong global demand. Nations such as the Argentina, U.S., China, and Brazil rank among the top producers of soybean oil. The compound segment includes alpha tocopherols, gamma tocopherols, beta tocopherols, and delta-tocopherol. The alpha tocopherols segment is projected to grow at a higher CAGR of around 10.2% during the forecast period owing to their widespread usage in the production of medicines and supplements treating joint and bone health issues.
The application segment is divided into functional food & beverages, pharmaceuticals, feed, cosmetics, and others. The cosmetics segment is projected to grow at a higher CAGR of around 9.8%during the forecast period. Astocopherol is commonly used in the cosmetics industry. It helps remove blemishes, acne, sunburn and encourages development of new cell growth.
High demand from the feed industry and growing awareness about a healthier lifestyle are the main driving forces for the tocopherols sector. Also, regular tocopherol consumption tends to reduce the risk of heart disease, respiratory problems and other lifestyle diseases. The increase in global health consciousness is expected to boost the health food market, which ultimately boosts market growth for tocopherol. But erratic prices of raw materials could hamper market growth.
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Source: EIN Presswire