The global tocotrienol market is projected to grow at a CAGR of 7.86% during the forecast period (2020-2025).
- Due to so many beneficial effects of tocotrienol on animal feed, it is anticipated that the tocotrienol market will be strongly boosted in the coming years, due to the demand from feed manufacturers.
- The food and beverage industry highly depends on mixed tocotrienol, because they are used as preservatives, antioxidants, flavor protectants, and nutrient stabilizers.
- The increasing need for tocotrienol in nutricosmetics is identified as one of the key opportunities that will stimulate growth in the global tocotrienol market during the forecast period. Cosmetic products are sensitive to oxygen. The application of mixed tocotrienol in cosmetic products helps to stabilize the ingredients.
Key Market Trends
Rising Applications of Tocotrienol in Dietary Supplements & Pharmaceuticals
Increasing adoption of tocotrienol in pharmaceutical applications especially for the production of anti-cancer drugs, which is a key factor expected to drive growth of the global market for tocotrienol over the forecast period. In addition, increasing incidence of cardiovascular diseases across the globe is another factor expected to support growth of the target market. Moreover, rising awareness among individuals regarding treatment of diseases such as respiratory disorders and pancreatic cancer using tocotrienols is increasing its demand in the pharmaceutical industry, which is further expected to drive growth of this market in the near future.
North America Dominates the Market
North America holds the largest market share in global tocotrienol market owing to growing demand among consumers for dietary supplements particularly in the United States. Key factors driving the growth of tocotrienol market in the region include changing dietary habits, increasing production rate, rising health concerns among the young population, and change in composition of tocotrienol in terms of different varieties. The tocotrienol market is projected to register healthy growth due increasing end-user application across globe. Tocotrienol market for Asia Pacific is also expected to witness rapid growth during the forecast period majorly owing to the growth of dietary supplements market, especially in China and India. Moreover, increasing population and rising health concerns mainly in emerging economies of China and India is expected to boost the growth in the region.
Some of the major key players in the tocotrienol market, globally includes BASF SE, American River Nutrition, BTSA Biotechnologías Aplicados SA, Archer Daniels Midland, SourceOne Global Partners, among others.
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