The global vitamin and mineral premixes market is estimated to be valued at USD 7.2 billion in 2022. It is projected to reach USD 9.8 billion by 2027, at a CAGR of 6.4%, in terms of value, between 2022 and 2027. Vitamin & mineral premixes have become crucial ingredients in pet food. They are used to enhance pet food’s nutritional content and meet its nutritional requirements. In addition, with the advent of the pandemic, consumers across the globe have become more conscious about their health and have started taking several nutritional supplements. These trends are anticipated to boost the demand for vitamin & mineral premixes over the forecast period.
By type, vitamin & mineral combination segment expected to achieve fastest growth during forecast period
The growing preference for vitamin and mineral premixes over individually manufactured vitamin or mineral mixes is driven by consumers’ desire for blended functional ingredients to achieve optimal health. Additionally, the high prevalence of vitamin and mineral deficiencies, as well as anemia in developing countries, is propelling the market’s expansion. Leading manufacturers are seizing this opportunity to combat malnutrition by launching vitamin and mineral premix blends for diverse applications.
By application, food & beverage segment expected to achieve fastest growth over forecast period.
The food and beverages sector encompasses a variety of products, including bakery goods, beverages, dairy items, cereals, and more. Given today’s fast-paced lifestyles and the prevalence of processed foods, maintaining adequate daily vitamin and mineral intake can be challenging. This deficiency in essential nutrients has adversely affected public health and overall well-being. Consequently, food and beverage products fortified with essential nutrient premixes, such as vitamins and minerals, have become crucial. They offer a convenient way to ensure individuals receive the necessary levels of these vital nutrients.
North America expected to be largest market for vitamin & mineral premixes market during forecast period
Based on region, North America is expected to be the largest market for vitamin & mineral premixes during the forecast period. The North American market is largely driven by the increase in demand for healthy foods and functional foods & beverages, owing to the low level of exposure to essential nutrients caused by high consumption of processed & convenience foods due to their busy lifestyles. The rise in the incidences of obesity, heart diseases, and other health issues has led to the demand for high-nutrition dietary products. Vitamin & mineral premixes have been finding their way into new product applications, such as cereal-based products, dairy products, nutritional foods, beverages, infant formulas, and dietary supplements.
Top Companies in the Vitamin and Mineral Premixes Market
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as DSM (Netherlands), Corbion (Netherlands), Glanbia plc (Ireland), Vitablend Nederland BV (Netherlands), SternVitamin GmbH & Co. KG (Germany), Wright Enrichment Inc. (US), Zagro (Singapore), Nutreco (Netherlands), Farbest-Tallman Foods Corporation (US), Burkmann Industries, Inc. (US), Bar – Magen LTD (Israel), BASF SE (Germany), ADM (US), Innov Ad NV/SA (Belgium), Jubilant Ingrevia Limited (India), and IDENA (France).
