Vitamin E Market Expected to Reach $ 3,728.2 Million by 2028 – Allied Market Research
PORTLAND, OR, UNITED STATES, November 1, 2021 /EINPresswire.com/ – The adoption of an inactive or confined lifestyle in the office is the main driver driving the demand for vitamin E supplements among young people and adults in the market. These supplements are effective in alleviating the problems that develop or develop due to a sedentary lifestyle and the adoption of suboptimal dietary habits, which leads heavy consumers to adopt the dietary supplement in their lifestyle.
According to a new report released by Allied Market Research, titled “Vitamin E Market By Type, Application, and Region: Global Opportunity Analysis and Industry Forecast, 2021-2028, “The global Vitamin E market size was valued at $ 2,661.1 million in 2020 and is expected to reach 3,728, $ 2 million by 2028, registering a CAGR of 4.3%. . Asia-Pacific was the largest contributor of revenue, accounting for $ 1,016.8 million in 2020, and is expected to reach $ 1,528.9 million by 2028, with a CAGR of 5.3%. Asia-Pacific is expected to reach $ 1,528.9 million by 2028, at a significant CAGR of 5.3%. Vitamin E is an essential fat soluble vitamin that protects cell membranes from reactive oxygen species. This is a group of eight fat soluble composites that include tocotrienols and tocopherols. Vitamin E deficiency is rare and usually occurs due to an occasional problem digesting dietary fat rather than a diet low in vitamin E, which can lead to nerve problems.
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The growth of the Vitamin E market is attributed to widespread promotion and advertising regarding the importance of consuming Vitamin E and the disadvantages of having its deficiency. In addition, the ease of availability is the factor that smoothes the needs and sales of vitamin E in the market. . In addition, there are many sales channels, such as Apollo Online Pharmacy and Online Pharmacy, which quickly respond to requirements with discounts available. In addition, there are also many cosmetic supplements and products available from popular online retailers like Amazon, Grofers, Ubuy, Walmart, and other websites. Hence, increasing number of distribution channels and easy availability of supplements is propelling the growth of vitamin E market. However, easy availability of substitutes acts as a constraint for the market. Conversely, increasing demand for vitamin E in processed foods and pet nutrition is expected to give way to growth in vitamin E market.
The global vitamin E market is segmented on the basis of type, application, and region. On the basis of type, the market is divided into natural and synthetic. Based on the application, the market is categorized into supplements, cosmetics, and animal feed. By region, it is analyzed in North America (United States, Canada and Mexico), in Europe (Germany, United Kingdom, France, Italy, Spain, Russia and the rest of Europe), in Asia-Pacific (China , India, Japan, ASEAN, South Korea, Australia and the rest of Asia-Pacific) and LAMEA (Latin America, Middle East and Africa).
Based on the Vitamin E market analysis by type, the synthetic segment accounted for the majority of the global vitamin E market share in 2020. The synthetic segment was also the fastest growing segment in the market. category of types. The growth in this segment can be attributed to the easy availability and cost effectiveness of this segment.
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Based on Vitamin E market forecast by application, the supplements segment was the largest and fastest growing segment in 2020. The growth of this segment can be attributed to the growing awareness of the industry. food and nutrition among the general population. The cosmetics segment in the application category is expected to experience modest growth in the coming years, with a CAGR of 4.1% from 2021 to 2028.
Based on region, Asia-Pacific was the dominant region in the vitamin E market, accounting for over a third of global revenue in 2020. Asia-Pacific was also the fastest growing regional segment. faster throughout the forecast period.
Major players in Vitamin E industry have relied on product launch as key strategy to stay relevant in Vitamin E market share. Major players operating in Vitamin E market are Advanced Organic Materials , SA, Antares Health Products, Inc., Archer Daniels Midland Company, BASF Nutrition, BTSA Biotecnologías Aplicadas, SL, Koninklijke Dsm NV, Matrix Fine Sciences Pvt. Ltd., Merck KGAA, NS Chemicals and The Nature’s Bounty Co.
Main conclusions of the study
By type, the synthetic segment is expected to experience the highest 4.5% CAGR in terms of revenue during the forecast period.
By type, the synthetic segment is expected to dominate the market until 2021-2028.
By application, supplements segment occupied the largest market with maximum value share in 2020 and is expected to grow at significant CAGR during the forecast period.
The United States is the largest country in terms of demand for vitamin E in 2019.
Asia-Pacific is expected to experience the highest growth rate, registering a CAGR of 5.3% from 2021 to 2028.
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