The global market for Vitamin E reached a size of US$ 2.5 billion in 2023. IMARC Group projects that by 2032, the market will grow to US$ 3.8 billion, representing a Compound Annual Growth Rate (CAGR) of 4.60% during the period from 2023 to 2032.
During the last quarter of 2023, the North American market saw a decline in Vitamin E prices. This decline was primarily due to reduced demand from the nutraceutical and pharmaceutical industries, leading to an oversupply situation. As a result, retailers maintained significant inventories despite concerns of potential shortages ahead of the December holiday season. Furthermore, decreased consumer confidence worsened the situation, contributing to the overall downward price trend.
In the Asia-Pacific region, the Vitamin E market exhibited a mixed trend during the fourth quarter of 2023. While some items experienced price increases, others saw decreases. Overall, there was a minor fall in prices, with variations across different countries. Towards the latter part of the quarter, higher prices were observed in China and India due to improved offtakes and export pricing. However, this was offset by declining demand from the pharmaceutical and nutraceutical industries, particularly in November.
Similarly, in Europe, the Vitamin E market experienced a downward trend influenced by high supply levels, decreased end-user demand, and declining energy prices. These factors contributed to a reduction in prices, with significant falls observed in markets like Germany by the end of the quarter. Additionally, the influence of China, a major exporter, played a significant role in lowering prices globally, impacting local markets in Europe as well.
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