Palm-based tocotrienol market is anticipated to exhibit a significant CAGR of 7.2% during the forecast period (2022-2028). Palm oil is a natural source of beta-carotene and tocotrienols (vitamin E). Researchers from Malaysia and Libya had found that tocotrienol-rich fractions extracted from palm oil can potentially be used to improve liver health. The increasing awareness among consumers related to the benefits of palm-based tocotrienol is a key factor driving the growth of the global palm-based tocotrienol market. The trans-fat found in oils increases the risk of heart diseases. Hence, the US Food and Drug Administration (FDA) and the World Health Organization (WHO) have announced their plans to eliminate industrial trans-fats by 2020 and 2023, respectively. 

Palm oil is naturally free from industrial trans-fatty acids and does not need to undergo hydrogenation to be modified, unlike sunflower, rapeseed, and soybean oils. The palm oil’s ability to be fractionated naturally and then recombined into other products without hydrogenation is a massive advantage for the development of palm-based tocotrienol. As per the journal of the International Conservation Charity Zoological Society of London, the majority of palm oil companies are not reporting basic information on how they are monitoring deforestation in either their own or their suppliers’ operations. Therefore, critical environmental impacts linked with palm oil related to deforestation practices may restrain the growth of the palm-based tocotrienol market. The rising focus of end-user companies in the development of products with palm-based tocotrienol as a key ingredient is anticipated to offer a lucrative opportunity for the growth of the global palm-based tocotrienol market.   

Segmental Outlook  

The palm-based tocotrienol market is segmented based on end-user into pharmaceuticals, dietary supplements, cosmetics, and others. Dietary Supplements held a considerable share in the palm-based tocotrienol market based on end-user. The high composition of palm-based tocotrienol in dietary supplements is a key factor driving the growth of this market segment. However, cosmetics are anticipated to exhibit considerable growth during the forecast period. The increasing usage of tocotrienol in the enhancement of oxidant properties of cosmetics is anticipated to drive the growth of this market segment. 

Regional Outlook 

The global palm-based tocotrienol market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. North America is anticipated to exhibit considerable growth in the palm-based tocotrienol market during the forecast period. The rising awareness among consumers of the health benefits of palm-based tocotrienol is anticipated to drive the growth of the regional market. The presence of key market players such as American River Nutrition, Inc. and BASF SE in the US is further contributing to the growth of the North American palm-based tocotrienol market.

Global Palm-Based Tocotrienol Market Growth, by Region 2022-2028

Asia-Pacific is Anticipated to Hold a Considerable Share in the Palm-based Tocotrienol Market 

The Asia-Pacific region is anticipated to hold a considerable share in the palm-based tocotrienol market. India, China, and Malaysia among others are the key economies that are making a considerable contribution to the growth of the regional market. Indonesia and Malaysia are the key palm-oil producing countries, hence, the easy availability of raw materials for the production of palm-based tocotrienol is driving the growth of the regional market. For instance, in January 2020, the Malaysian Palm Oil Board (MPOB) developed three advanced palm-based technologies for commercialization. The first is the process and formulation of palm vitamin E/ tocotrienol-rich fraction (TRF) chewable tablet. The second is palm oil-based polyol for floor coverings for indoor and outdoor and sports flooring markets while the third is a moisturizing hand sanitizer with Vitamin E. The first technology is anticipated to encourage local manufacturers to use palm-based oils and derivatives in value-added food formulation. The increasing focus of regional governments on the development of palm-based tocotrienol technologies is further driving the growth of the regional market.  

 Market Players Outlook

The global palm-based tocotrienol market is characterized by the presence of several market players that are catering to a wide range of customers across the globe. Some of the key vendors of palm-based tocotrienol include A.C. Grace, American River Nutrition, Inc., BASF SE, Davos Life Science Ltd., and Eisai Food & Chemical Co. Ltd. These players are adopting different growth strategies such as mergers and acquisitions, collaboration, and strategic partnership among others to remain competitive in the market place. For instance, in January 2019, ExcelVite exhibited with the Malaysian Palm Oil Council at NPEW 2019. His collaboration aims to provide updates on the brain health research on palm vitamin E tocotrienol, and the sustainability practices of sourcing palm oil in Malaysia.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global palm-based tocotrienol market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.