Asia Pacific Tocotrienol Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 113 | Report Code: BMIRE00031782 | Category: Consumer Goods
No. of Pages: 113 | Report Code: BMIRE00031782 | Category: Consumer Goods
The Asia Pacific tocotrienol market size is expected to reach US$ 241.79 million by 2031 from US$ 163.00 million in 2023. The market is estimated to record a CAGR of 5.1% from 2023 to 2031.
In Asia Pacific, health-conscious consumers are increasing because of the impact of social media in emerging economies, including India, China, and South Korea. The increasing use of tocotrienols in food and beverages and growing demand for nutritional supplements drive the tocotrienols market growth in Asia Pacific. Functional food and beverages have gained popularity among the health-conscious population, especially in the young generation. Tocotrienols help healthy metabolic functioning, improve brain functioning, support heart health, and help reduce inflammation and oxidative stress. Owing to these properties, tocotrienol has gained popularity in various applications in the region. Tocotrienols have the potential health benefits of anti-aging and antioxidants. Thus, they are gaining popularity as a nutricosmetics component in Asia Pacific.
The availability of raw materials in Asia Pacific has been driving the tocotrienols market growth in the region. Tocotrienols are derived naturally from raw materials, including palm oil, rice bran oil, and annatto. Asia Pacific is one of the largest palm oil producers. According to the United States Department of Agriculture, Indonesia, Malaysia, Thailand, and Cambodia are amongst the top palm oil producers globally. Indonesia produced 47 million tons of palm oil in 2023, accounting for 59% of global share. Thus, the growing popularity of tocotrienols in various industries and the availability of raw materials drive the tocotrienols market growth in Asia Pacific.
Key segments that contributed to the derivation of the tocotrienol market analysis are type and application.
In recent years, the beauty & personal care industry is growing at a significant pace. Asia Pacific, North America, and Europe are among the major beauty & personal care markets. Consumers focus more on skincare and hair care and procure products that provide nourishment and deep hydration. Nutricosmetics, which combine nutrients that promote health and aesthetic improvements, are increasingly sought after by consumers who are looking for holistic approaches to beauty and wellness. With potent antioxidant properties and the ability to protect skin cells from oxidative damage, tocotrienols are becoming a popular ingredient in nutricosmetics. The inclusion of tocotrienols in nutricosmetics products such as supplements, beauty drinks, and skincare formulation can propel their demand as consumers seek out natural and effective ways to enhance their appearance.
In the beauty industry, tocotrienols help reduce wrinkles and fine lines, improve skin elasticity, and protect against UV damage, making them an ideal ingredient for antiaging products. As consumers increasingly prioritize maintaining youthful, healthy skin through natural means, the demand for tocotrienols-infused nutricosmetics is on the rise. This trend is encouraging manufacturers to innovate and develop new products that leverage the unique benefits of tocotrienols.
Increasing scientific validation of tocotrienols' benefits in skin health and overall wellness is reinforcing their popularity in the nutricosmetic market. Studies have highlighted the efficacy of tocotrienols in improving skin hydration, texture, and resilience, helping to build consumer's trust and interest. As a result, more brands are incorporating tocotrienols into their formulations and marketing them as a key ingredient for achieving radiant and youthful skin. This scientific support boosts consumer confidence and sets tocotrienols apart from other ingredients. Thus, the rising demand in the nutricosmetic industry is expected to create a new trend in the tocotrienols market during the forecast period.
Based on country, the Asia Pacific tocotrienol market comprises China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China held the largest share in 2023.
The tocotrienols market growth in China is attributed to local and international players operating in the market, increasing adoption of healthy and dietary supplements, and rising demand for nutricosmetic products. The Chinese economy has a large number of manufacturing and assembly units of a few major manufacturers of food & beverages, cosmetics, and personal care products. Furthermore, China has the largest population in Asia Pacific, leading to the growing demand for food and beverage items and cosmetics and personal care products, which would lead to the growth of the tocotrienols market in China. Tocotrienols help maintain healthy metabolic functioning, support heart health, improve brain functioning, and reduce inflammation and oxidative stress. Thus, increasing awareness regarding various health benefits has surged the demand for tocotrienols in various industries. China is one of the prominent countries in feed manufacturing. According to the China Feed Industry Association (CFIA) report, China's nationwide industrial feed production was 302.2 MMT in 2022, up 3% year-on-year. Growing feed production in China has contributed to the market's growth.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 163.00 Million |
| Market Size by 2031 | US$ 241.79 Million |
| Global CAGR (2023 - 2031) | 5.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Asia Pacific
|
| Market leaders and key company profiles |
Some of the key players operating in the market include BGG WORLD; Cayman Chemical; ExcelVite; Fuji Chemical Industries Co., Ltd.; Kuala Lumpur Kepong Bhd; Musim Mas Group; Orochem Technologies Inc; PhytoGaia; and Vance Group Ltd. among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
Business Market Insights’ conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The Asia Pacific Tocotrienol Market is valued at US$ 163.00 Million in 2023, it is projected to reach US$ 241.79 Million by 2031.
As per our report Asia Pacific Tocotrienol Market, the market size is valued at US$ 163.00 Million in 2023, projecting it to reach US$ 241.79 Million by 2031. This translates to a CAGR of approximately 5.1% during the forecast period.
The Asia Pacific Tocotrienol Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Tocotrienol Market report:
The Asia Pacific Tocotrienol Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Tocotrienol Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Tocotrienol Market value chain can benefit from the information contained in a comprehensive market report.
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