Analyst Perspective
The global vitamin and mineral premixes market is expected to register a CAGR of 6.5%. The increasing demand in the animal husbandry industry drives the growth of the vitamin and mineral premix market. The market is also boosted by the high need for fortified food and beverages, greater consumption of compound feed, and the desire for enriched food due to extensive food processing. Customized vitamin and mineral premixes cater to individual customer needs, presenting opportunities in various industries, including food and beverages, animal feed, healthcare, and personal care for nutritional enrichment. However, challenges include the high costs of research and development, expensive fortified products, and the risk of inaccurate food labeling affecting market expansion.
Market Overview
Vitamins are essential organic compounds for metabolism, while minerals are crucial chemical elements for life functions. The human body needs these nutrients in small amounts. Vitamins and mineral premixes are intricate blends of these essential elements. The growing popularity of plant-based diets, demand for personalized diets, and increasing interest in natural and organic products create more opportunities for growth of vitamins and minerals premix market. As disposable income rises, consumers will spend more on health and wellness products, increasing demand for premium vitamins and minerals premixes made with high-quality ingredients. Technologies are allowing manufacturers to develop more effective and bioavailable forms of vitamins and minerals, making supplements more appealing to consumers, as they are likely to be absorbed by the body.
Market Drivers
- Consumers are becoming increasingly aware of the significance of a healthy diet and the role of vitamins and minerals in overall health, leading to a growing demand for fortified beverages and dietary supplements.
- Food and beverage manufacturers are constantly adding vitamins and minerals to their products to make them more nutritious, which is likely to continue, as it is relatively inexpensive to improve the nutritional value of food.
- Chronic diseases such as heart disease, cancer, and diabetes are becoming increasingly common. These diseases can lead to a nutrient deficiency, further exacerbated by the medications used to treat them. As a result, there is a growing demand for supplements that can help manage chronic diseases.
Market Segmentation
The global vitamin and mineral premixes market is segmented based on type, application, form, and functionality. The market is segmented based on type into vitamins, minerals, vitamins, and minerals combination. The vitamin and mineral premixes market is segmented based on application into food & beverage, dairy products, bakery products, healthcare, feed, personal care & cosmetics, and others. The market is segmented based on form into dry form and liquid form. Based on functionality, it is into bone health, skin health, energy, immunity, digestion, and others.
Regional Analysis
The report provides a detailed industry overview, which includes qualitative and quantitative information. It overviews and forecasts the global vitamin and mineral premixes market based on several segments. It also provides market size and forecast estimates from 2020 to 2030 concerning five major regions: Europe, North America, Asia-Pacific (APAC), Middle East & Africa (MEA) and South & Central America. The market by region is also sub-segmented by respective countries and segments. The vitamin and mineral premixes market report covers an analysis and forecast of eighteen countries globally and the prevailing trends and opportunities in the region.
The report analyses factors affecting the vitamin and mineral premixes market from both the demand and supply side. Furthermore, it evaluates market dynamics during the forecast period, i.e., drivers, challenges, opportunities, and future trends. The report also provides an extensive Porter's Five Forces analysis highlighting factors affecting the market of these regions' vitamin and mineral premixes.
Key Players
The reports cover vital organic and inorganic growth strategy developments in the vitamins and minerals premix market. Various companies concentrate on organic growth strategies such as product launches, approvals, patents, and others. Inorganic growth strategies activities observed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for the development of the business and customer base of market players. The market players in the vitamin and mineral premixes market are anticipated to have lucrative growth opportunities with the increasing demand for healthy vitamin and mineral premixes products in the global market.
The report includes key companies' profiles, SWOT analysis, and vitamin and mineral premixes market strategies. The report also focuses on leading market players with information including components and services offered, company profiles, financial information for the last three years, and critical development in the past five years.
Below is a list of companies in the vitamins and minerals premix market.
- Corbion NV
- Glanbia PLC
- DSM
- Farbest brand
- Vitablend
- Wright enrichment
- Zagro
- Burkmann nutrition
- Sternvitamin
- Nutreco