2014-02-10 19:27:03 - Synthetic Vitamin E - A Global Market Overview - a new market research report on companiesandmarkets.com
The largest application area in the global synthetic vitamin E market is animal feed, which has a volume share of around 81.9%, at 82.1 thousand metric tons in 2012. In terms of value share, animal feeds reached 67.1%, equating to around $712.9 million in 2012. Further, consumption of synthetic vitamin E by the animal feed industry is also expected to record the fastest 2012-2020 CAGR of 4.5% in reaching a projected 116.5 thousand metric tons in 2020 in terms volume and projected to reach US$1.1 billion by 2020 at a CAGR of 5.7% over 2012-2020 in terms of value.An increasing demand for livestock directly translates into increasing demand for animal feed and animal feed additives such as vitamins. Synthetic vitamin
E is the key ingredient used in global animal feed industry today. It is obvious that demand for synthetic vitamin E for animal feed applications would continue to grow as demand for livestock also grows, more so in the developing regions of Asia, Africa and Latin America. Countries, such as Brazil, China, Russia and other Asian and African regions have been on a catching up mode as they are increasingly adopting modern animal production systems to keep abreast of enhancing domestic demand.The synthetic vitamin E growth in animal feed industry is mainly attributed to the animal feed industry´s growth in developing world. The demand for livestock products such as meat, poultry etc. is increasing rapidly in developing nations. The main attributes for this growth would be population growth, urbanization and especially growing household incomes in these countries. General patterns of food consumption and specific demand for livestock products are greatly shaped by levels of urbanization and growth in income. As a consequence, these developing nations are the regions slated to emerge as the fastest growing for food products derived from livestock.
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