The global tocotrienol market is expected to reach USD 342.0 million by 2022, according to a new report by Grand View Research, Inc. Increasing scope of tocotrienol in medical applications such as anti-cancer and cancer suppression compound owing to its antioxidant properties is expected drive its demand. In addition, growing prevalence of cardiovascular diseases is also anticipated to benefit the overall tocotrienols market. High vitamin E concentrations in tocotrienols are expected to aid the tocotrienols consumption.
U.S. Tocotrienol Market estimates and forecast, by product, 2012-2022, (USD Million)
U.S. Tocotrienol Market estimates and forecast, by product, 2012-2022, (USD Million)
High tocotrienol price is expected to remain a key barrier for market participants to penetrate the market further. R&D initiatives taken by the industries to introduce more potential applications are presumed to create ample opportunities for tocotrienol market over the forecast period. Tocotrienols has also been considered as “Generally Recognized as Safe (GRAS)” substance which can be commonly used in various food additive applications.
Alpha tocotrienol emerged as the leading product segment and accounted for over 55% of total market volume in 2014. Delta tocotrienols are expected to witness the fastest growth of 6.1% over the forecast period. Delta tocotrienol are considered to have more functional properties compared to gamma tocotrienols due to its accumulation capacity in cancer cells which helps in death of tumors which are present.
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Further key findings from the report suggest:
- Global tocotrienols market demand was 496.6 tons in 2014 and is expected to reach 853.2 tons by 2022, growing at a CAGR of 7.0% from 2015 to 2022
- Dietary supplement was the leading end-use segment and accounted for over 65% of total demand in 2014. Growing health concerns among consumers is expected to benefit the usage of tocotrienols in dietary supplements. Pharmaceuticals are expected to witness the highest growth of 7.2% from 2015 to 2022.
- North America emerged as the leading regional market with demand share estimated at 59.9% in 2014. Growing demand among consumers for dietary supplements particularly in the U.S. have resulted the growth in the regional market.
- Asia Pacific is expected to witness the highest growth of 7.8% from 2015 to 2022. Increasing population coupled with rising health concerns particularly in emerging economies of India and China is expected to drive the regional market.
- Major tocotrienol market participants include BASF, American River Nutrition, Vance Group, SourceOne, Orochem, AC Grace Company, Cayman Chemicals, Parachem Fine & Specialty chemicals, Palm Nutraceuticals Sdn Bhd and Supervitamins Sdn Bhd.
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