Vitamin E Market Size was valued at USD 2.3 Billion in 2022. The Vitamin E market industry is projected to grow from USD 2.42 Billion in 2023 to USD 3.72 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.50% during the forecast period (2023 - 2032). The growing awareness of the health benefits of Vitamin E and increasing demand for natural and fortified food products are the key market drivers fueling the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for vitamin E is being driven by the rising awareness of health and wellness. As consumers become increasingly conscious of the importance of maintaining a healthy lifestyle, there is a growing demand for nutritional supplements and fortified foods that contribute to overall well-being. Vitamin E, known for its antioxidant properties, plays a crucial role in supporting the immune system and protecting cells from oxidative stress. As a result, health-conscious individuals are seeking products rich in Vitamin E to enhance their nutritional intake and promote long-term health.
The functional food industry is experiencing significant expansion, driven by the growing demand for foods that provide health benefits beyond basic nutrition. Vitamin E, being a vital nutrient with various health-promoting properties, is frequently incorporated into functional food and beverage products. Manufacturers are fortifying a wide range of products, including cereals, dairy, beverages, and snacks, with Vitamin E to enhance their nutritional profiles and appeal to health-conscious consumers.
The cosmetics and personal care industry is another significant driver propelling the Vitamin E market. Vitamin E is a popular ingredient in skincare and beauty products due to its moisturizing and antioxidant properties. It is known for promoting skin health, reducing signs of aging, and protecting the skin from environmental damage. As consumer interest in skincare and beauty routines intensifies, the demand for products containing Vitamin E continues to soar.
A survey conducted by Nielsen indicates a surge in consumer interest in health and wellness, with 48% of respondents stating they are willing to pay a premium for products that promote health benefits. This underscores the growing demand for functional ingredients like Vitamin E in the pursuit of a healthier lifestyle. Thus, driving the Vitamin E market revenue.
The Vitamin E market segmentation, based on Type includes Tocopherol Vitamin E Products and Tocotrienol Vitamin E Products. The Tocopherol Vitamin E Products segment dominated the market, accounting for more than half of the market revenue. This is linked to their widespread recognition and established presence in various applications. Tocopherols, comprising alpha, beta, gamma, and delta forms, are commonly found in nature and extensively utilized in dietary supplements, animal feed, food & beverages, and cosmetics.
The Vitamin E market segmentation, based on Application includes Dietary Supplements, Animal Feed, Food & Beverages, Cosmetics, and Others. The Dietary Supplements segment dominated the market, accounting for more than one-third of market revenue. The dietary supplements segment holds a dominant position in the Vitamin E market. The growing health-conscious trend and the inclination towards preventive healthcare have propelled the demand for nutritional supplements containing Vitamin E.
Figure 1: Vitamin E Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Vitamin E market segmentation, based on Source includes Naturally-Sourced Vitamin E and Synthetically-Sourced Vitamin E. The Naturally-Sourced Vitamin E segment dominated the market, accounting for above half of market revenue. This growth is linked to increasing consumer preferences for natural and organic products. Consumers are becoming more discerning about the origin of ingredients in their food, supplements, and cosmetics.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American Vitamin E market area will dominate this market due to a combination of factors, including a well-established health and wellness culture, a high level of consumer awareness, and a robust market for dietary supplements. The region's population exhibits a strong inclination towards preventive healthcare, driving the demand for Vitamin E supplements and fortified food products.
Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: VITAMIN E MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Vitamin E market accounts for the second-largest market share due to the region's stringent regulatory standards and consumer preference for natural and organic products. European consumers are known for their focus on product quality, safety, and adherence to environmental and sustainability standards. Further, the German Vitamin E market held the largest market share, and the UK Vitamin E market was the fastest-growing market in the European region
The Asia-Pacific Vitamin E Market is expected to grow at the fastest CAGR from 2023 to 2032 driven by the region's stringent regulatory standards and consumer preference for natural and organic products. European consumers are known for their focus on product quality, safety, and adherence to environmental and sustainability standards. Moreover, China’s Vitamin E market held the largest market share, and the Indian Vitamin E market was the fastest-growing market in the Asia-Pacific region.
Leading market players are focusing on developing innovative and differentiated Vitamin E products, whether in the form of supplements, fortified foods, or cosmetic ingredients. This may include novel formulations, unique delivery methods, or combinations with other beneficial ingredients to stand out in the market. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, expanding distribution channels, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Vitamin E industry must offer cost-effective items.
Robust marketing campaigns and effective branding strategies are the key business tactics used by manufacturers in the Vitamin E industry to benefit clients and increase the market sector. In recent years, the Vitamin E industry has offered some of the most significant advantages to Consumers. Major players in the Vitamin E market, including Vance Group, Prinova Group LLC, Orah Nutrichem, The Bountiful Company, Orochem Technologies Inc., Wilmar International, Davos Life Science, and others, are attempting to increase market demand by investing in product development to increase their product line and cater to diverse consumer needs.
Kensing, a renowned manufacturing company, derives its name from its historic manufacturing facility on Kensington Avenue in Kankakee, IL. Established in the late 1940s and spanning 310 acres today, the site epitomizes state-of-the-art manufacturing, ensuring the production of pure, precise, and high-quality products. A beacon of innovation, Kensing prioritizes sustainability, reflects a culture of passion, and upholds paramount safety standards. The company, deeply rooted in its community, is dedicated to exceptional service and responsiveness, embodying a legacy of quality and reliability since its founding. With a commitment to making lives better and a vision for a purely better world, Kensing stands as a symbol of excellence and dedication in the manufacturing industry. In December 2021, Kensing Company revealed a strategic alliance with Azelis to enhance the distribution of vegetable oils, vitamins, and personal care products throughout Europe, the Middle East, and Africa. Leveraging Azelis' robust B2B distribution network in these regions, the collaboration aims to optimize the delivery of Kensing's key products, including Covi-ox, Covitol, Copherol, and Generol. This partnership underscores Kensing's commitment to expanding its market reach and ensuring efficient access to its core product portfolio in key markets.
Prinova stands as a prominent supplier, specializing in providing ingredients and premix manufacturing solutions tailored for the food, beverage, and nutrition industries. With strategic stocks strategically positioned in over 35 centers worldwide, Prinova ensures seamless supply chain continuity. The company boasts state-of-the-art liquid and dry premix manufacturing facilities in the UK, China, and the USA, reflecting its commitment to quality and accessibility. Backed by over 40 years of industry expertise, Prinova excels in ingredient sourcing and distribution, holding leading market positions in Vitamins, Amino Acids, Sweeteners, and more. Their diverse product range encompasses everything from Aroma Chemicals and Botanical Extracts to Proteins and Nutritional Premixes, solidifying Prinova's standing as an industry leader. In June 2021, Prinova unveiled a new e-commerce platform, designed to elevate the procurement of ingredients in the United States. The website features a range of food-grade vitamins and amino acids, catering to the diverse needs of consumers. Prinova's objective with this initiative is to provide comprehensive B2B vitamin distribution solutions on a scale, ensuring accessibility and convenience for its clientele.
Vitamin E Industry Developments
June 2021: One Rock Capital acquired a specialty chemical facility and additional business segments from BASF located in Kankakee, Illinois, United States. The strategic objective of One Rock Capital involves modernizing the facility to enable the production of vegetable oils, natural vitamin E, and various other specialty chemicals at this plant.
Feb 2022: BASF finalized the divestiture of its production facility in Kankakee, Illinois, transferring ownership to an affiliate of One Rock Capital Partners LLC. This transaction encompasses the related operations involving sterols derived from vegetable oil and the manufacturing of natural vitamin E products.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 2.3 Billion |
| Market Size 2023 | USD 2.423 Billion |
| Market Size 2032 | USD 3.725 Billion |
| Compound Annual Growth Rate (CAGR) | 5.50% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, Source, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Vance Group, Prinova Group LLC, Orah Nutrichem, The Bountiful Company, Orochem Technologies Inc., Wilmar International, and Davos Life Science. |
| Key Market Opportunities | The booming cosmetics and personal care industry contributes to the market growth |
| Key Market Dynamics | Increasing health consciousness is fueling the market growth |
Frequently Asked Questions (FAQ) :
The Vitamin E market size was valued at USD 2.3 Billion in 2022.
The market is projected to grow at a CAGR of 5.50% during the forecast period, 2023-2032.
North America had the largest share of the market
The key players in the market are Vance Group, Prinova Group LLC, Orah Nutrichem, The Bountiful Company, Orochem Technologies Inc., Wilmar International, and Davos Life Science.
The Tocopherol Vitamin E Products category dominated the market in 2022.
The Naturally-Sourced Vitamin E had the largest share in the market.
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