The global mixed tocopherols market is consolidated in nature. Increase in number of players in the market, with handful of players accounting for maximum share in the market, the market is likely to witness a substantial rate of competition. Five top players which are Davos Life Sciences, Archer Daniels Midlands Company, BASF SE, COFCO Tech Bio Engineering, and DSM N.V., held a whopping share of 65% in recent years. Main focus of the players is in carrying extensive research and development in order to find product with greater efficiency and cost effective. Players are trying to innovate new product which are likely to change the business pattern in the market.
However, it has been witnessed by Transparency Market Research, that the market being consolidated one is likely to show characteristics of fragmented market because of entrance of numerous players in the market. According to TMR, the global mixed tocopherols market is anticipated to expand at stupendous rate of 4.6% CAGR during the forecast period, 2016 – 2024. The market which was worth at US$2.0 bn in 2015 is expected to touch US$3.0 bn by the end of the assessed period.
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On the basis of product, gamma tocopherols is prophesized to hold the major share in the market owing to the anti-inflammatory property present in gamma tocopherols as this is extensively used in drug preparation of Alzheimer, atherosclerosis, and cancer. On the basis of geography, global tocopherols market is dominated by Europe and North America, owing to the rapid growth of food and pharmaceutical industries. However, Asia Pacific is anticipated to become the fastest growing market.
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Increasing Demand of Meat and Pork to Augment Demand of Product
Incessant rise in geriatric population all across the world is anticipated to increase the consumption of mixed tocopherols, this is likely to help the global mixed tocopherols market to rise. Old people often tend to have weaker bones, which makes them more vulnerable to fractures, arthritis, and other bone related issue. In order to make the brains stronger, mixed tocopherols are highly suggested.
Except this, rising awareness among population making them prefer healthy lifestyle, mostly because of rapid urbanization along rise in disposable income is aiding to increase the uptake of mixed tocopherols. Health supplements, which have gained immense popularity among youth, who aspire to have a good physique, is helping the market to grow. Health supplements consists significant amount of tocopherols. Another important factor that is driving the market is the exponential rise in demand of meat and pork from all over the years. This has particularly surged the demand of animal feed. Animals are fed mixed tocopherols in order to make them healthy. Rise in cosmetics product all across the world is also helping the market to grow.
Volatile Raw Material Prices to Hinder Market Growth
The global mixed tocopherols market is also faced with various challenges which are likely to deter the growth of the market. One of the primary challenge that is concerning the players in the market is the erratic raw material prices. This is anticipated to create imbalance between the supply and demand of the tocopherols product in the market. The market is generally driven by investing hefty, thus small players in the market which could afford heavy investment, perform miserably in the market, thus pulling down the growth rate.