Middle East & Africa Tocotrienol Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 86 | Report Code: BMIRE00031783 | Category: Consumer Goods
No. of Pages: 86 | Report Code: BMIRE00031783 | Category: Consumer Goods
The Middle East & Africa tocotrienol market size is expected to reach US$ 26.14 million by 2031 from US$ 18.06 million in 2023. The market is estimated to record a CAGR of 4.7% from 2023 to 2031.
In the Middle East & Africa, the demand for tocotrienols has upsurged owing to the increasing adoption of dietary supplements. Economic development in the region and population growth in African countries have contributed to the tocotrienols market growth in the region. Additionally, the rising demand for functional food and beverages and supplements and increasing disposable income of consumers bolster the tocotrienols market growth in the Middle East & Africa. This has been attributed to increased interest in the importance of maintaining one's general health, well-being, and protection from disease. According to the study conducted on the Northern border of Saudi Arabia, 62% out of 400 participants use vitamin supplements. Tocotrienols are used in these supplements owing to their various health benefits, such as supporting cognitive health and improving heart health. Thus, rising demand for healthy supplements and addressing health-related issues boosts the requirement for tocotrienols in the region.
In the Middle East & Africa, the popularity of tocotrienols is rising due to the growth of industries such as cosmetics & personal care. In countries such as the UAE and Saudi Arabia, the cosmetics & personal care industry has notably expanded, thereby surging the demand for tocotrienols. Tocotrienols are incorporated in skincare products due to their antiaging and skin-protective qualities. In addition, the rising adoption of premium and luxury skincare products propels the demand for tocotrienols in the region.
Key segments that contributed to the derivation of the tocotrienol market analysis are type and application.
Scientific studies are continually uncovering new benefits of tocotrienols such as their superior antioxidant properties compared to tocopherols and their potential role in preventing and managing various health conditions, including cardiovascular diseases, neurodegenerative disorders, and cancer. Growing research activities are expected to provide compelling evidence that supports the use of tocotrienols in a wide range of health products. The proliferation of research can help build credibility and trust among consumers and healthcare professionals. Detailed studies published in reputable scientific journals lend legitimacy to the claims made about tocotrienols, making it easier for manufacturers to promote their products.
Ongoing research initiatives often lead to the discovery of new applications and formulations for tocotrienols, broadening their market potential. For instance, the research conducted by Clinical Applications of Scientific Innovations demonstrated the potential benefits of tocotrienol supplementation on individuals affected by metabolic syndrome (MetS). The combination of tocotrienols with other nutrients that promote healthy inflammatory responses such as resveratrol, quercetin, and B vitamins, may synergistically affect metabolic health, as observed in their clinical trials. Thus, the increasing research initiatives are expected to provide lucrative opportunities for the global tocotrienols market during the forecast period.
Based on country, the Middle East & Africa tocotrienol market comprises South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. South Africa held the largest share in 2023.
The South African tocotrienols market growth is driven by the increase in demand for cosmetics and the growth in the food & beverages industries. In addition, rising health consciousness among consumers, adoption of nutritional supplements, and inclination toward fortified and functional food & beverages positively influence the demand for tocotrienols among the end-use industries. Also, the increasing investments in research and development by key players to launch innovative products and booming end-use industries such as food & beverages, pharmaceuticals & nutraceuticals, and cosmetics & personal care boost the growth of the tocotrienols market in South Africa.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 18.06 Million |
| Market Size by 2031 | US$ 26.14 Million |
| Global CAGR (2023 - 2031) | 4.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
Some of the key players operating in the market include BGG WORLD, Cayman Chemical, Kuala Lumpur Kepong Bhd, and Musim Mas Group 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 Middle East & Africa Tocotrienol Market is valued at US$ 18.06 Million in 2023, it is projected to reach US$ 26.14 Million by 2031.
As per our report Middle East & Africa Tocotrienol Market, the market size is valued at US$ 18.06 Million in 2023, projecting it to reach US$ 26.14 Million by 2031. This translates to a CAGR of approximately 4.7% during the forecast period.
The Middle East & Africa 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 Middle East & Africa Tocotrienol Market report:
The Middle East & Africa Tocotrienol Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Tocotrienol Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Tocotrienol Market value chain can benefit from the information contained in a comprehensive market report.
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