Global Vitamin & Mineral Premixes Market Size, Share, and COVID-19 Impact Analysis, By Type (Vitamins, Minerals, Vitamin & Mineral Combinations), By Form (Dry and Liquid), By Application (Healthcare, Food & Beverages, Feed, and Cosmetics & Personal Care), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032Industry: Food & Beverages
Global Vitamin & Mineral Premixes Market Insights Forecasts to 2032
- The Global Vitamin & Mineral Premixes Market was valued at USD 7.1 Billion in 2022
- The Market is Growing at a CAGR of 6.3% from 2022 to 2032
- The Worldwide Vitamin & Mineral Premixes Market size is expected to reach USD 13.1 Billion by 2032
- Asia Pacific is expected to grow the fastest during the forecast period
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The Global Vitamin & Mineral Premixes Market is anticipated to reach USD 13.1 billion by 2032, at a CAGR of 6.3% over the predicted period from 2022 to 2032. Vitamin and mineral premixes have become essential components of pet food. They are used to improve the nutritional content of pet food and to meet its nutritional requirements. Furthermore, since the outbreak of the pandemic, consumers all over the world have become more concerned about their health and have begun taking a variety of nutritional supplements. Over the forecast period, these trends are expected to increase demand for vitamin and mineral premixes.
Vitamin and mineral premixes can be utilized to improve the nutritional value of food products, feed additives, food and health supplements, medical products, and many other products. These premises are usable in both liquid and powder form. These are in high demand in certain industries such as personal care, food and beverage, animal food, healthcare, and cosmetics. Premixes are used in the animal feed industry to create complete pet food. The growing animal husbandry industry worldwide is driving the vitamin and mineral premixes market. These premixes typically contain a blend of essential vitamins and minerals, which are combined in precise ratios to meet specific nutritional requirements. The market for vitamin and mineral premixes is being driven by several factors, including increasing awareness of the importance of proper nutrition, the growing demand for fortified foods and beverages, and the rising prevalence of chronic diseases. The market is also being boosted by the increasing use of premixes in animal feed, as livestock producers seek to improve the health and productivity of their animals.
This research report categorizes the market for global vitamin & mineral premixes market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the vitamin & mineral premixes market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the vitamin & mineral premixes market.
Global Vitamin & Mineral Premixes Market Report Coverage
|Market Size in 2022:||USD 7.1 Billion|
|Forecast Period:||2022 – 2032|
|Forecast Period 2022 – 2032 CAGR:||6.3%|
|022 – 2032 Value Projection:||USD 13.1 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||110|
|Segments covered:||By Type, By Form, By Application and By Region.|
|Companies Covered:||BASF SE, ADM, Innov Ad NV/SA, Jubilant Ingrevia Limited, IDENA, DLG, Gk Biochemical Corporation, Advanced Animal Nutrition Pty Ltd., Credence Remedies Pvt. Ltd., Gold Fin International, Companies studied, DSM, Corbion, Glanbia plc.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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Consumers are increasingly aware of the role that proper nutrition plays in maintaining good health. As a result, there is a growing demand for foods and supplements that are fortified with essential vitamins and minerals. The use of vitamin and mineral premixes in animal feed is also driving the growth of the market. Livestock producers are seeking to improve the health and productivity of their animals, and premixes can help them achieve these goals. Advances in technology have made it easier to formulate and produce vitamin and mineral premixes. This has led to the development of new and innovative products that can meet the evolving nutritional needs of consumers and animals alike. Middle-aged people are increasingly willing to take part in food and beverages because they are concerned about their health. These are the primary factors expected to drive the vitamin and mineral premixes market during the forecast period.
The production of vitamin and mineral premixes requires sophisticated technologies and high-quality ingredients. The high production costs may limit the adoption of premixes among small and medium-sized companies. The overconsumption of vitamins and minerals can have adverse health effects. This has led to increased scrutiny of vitamin and mineral premixes by regulatory authorities and consumers. The high costs of vitamin and mineral premixes, as well as the adoption of certain stringent activities, are restraining forces in the market's expansion. Infertility and live-weight gain can be caused by milk with insufficient nutritional value. Deterioration in certain nutritional values causes an increase in anemic conditions, which leads to malnutrition. These factors may impede the market for vitamin and mineral premixes during the forecast period.
The Global Vitamin & Mineral Premixes Market share is classified into type, form, and application.
- The vitamin and mineral combination segment is anticipated to grow at the fastest rate during the projected timeline.
Based on the type, the global vitamin & mineral premixes market is differentiated into vitamins, minerals, and vitamin & mineral combinations. Among these, the vitamin and mineral combination segment is anticipated to grow at the fastest rate during the projected timeline. The vitamin and mineral premixes market is expected to continue to grow due to the increasing demand for nutritional supplements and functional foods. The increased consumer preference for blends of various functional ingredients to achieve optimum health can be attributed to the popularity of vitamin and mineral premixes over individually manufactured vitamin and mineral premixes. Another factor is the prevalence of vitamin and mineral deficiencies, as well as anemia, in developing countries. Leading manufacturers are capitalising on this opportunity to combat malnutrition by creating vitamin and mineral premixed blends for a wide range of applications.
- The dry form segment is expected to hold the largest share in the vitamin and minerals premixes market during the forecast period.
Based on the form, the global vitamin & mineral premixes market is classified into dry and liquid. Among these, the dry form segment is expected to hold the largest share in the vitamin and minerals premixes market during the forecast period. Vitamin and mineral premixes are more stable than liquid and widely used in powdered form. Powdered premixes convenient packaging reduces complexities in supply chain processes, leading to their increased popularity. Powdered premixes are used in a different of feed and food applications, including low-fat milk powders, bakery products, health drink powders, and dessert mixes. Vitamin and mineral premixes in powder form are used by pharmaceutical and personal care firms to create tablets, capsules, toothpaste, lipsticks, face powders, and creams.
- The food & beverage segment is expected to register the fastest growth over the forecast period.
On the basis of application, the global vitamin & mineral premixes market is categorized into healthcare, food & beverages, feed, and cosmetics & personal care. Among these, the food & beverage segment is expected to register the fastest growth over the forecast period. The reason behind the growth is, the vitamin and mineral premixes are widely used in the food and beverage industry includes dairy products, bakery products, cereals, beverages, and other items. With today's hectic lifestyles and high exposure to processed foods, it's difficult to maintain optimal levels of vitamin and mineral intake on a daily basis. Reduced intake of such essential nutrients has harmed the population's health and well-being. Food and beverage products fortified with essential nutrient premixes, such as vitamins and minerals, play an important role in convenience and exposure to optimal levels of essential nutrients in such cases.
Regional Segment Analysis of the Vitamin & Mineral Premixes Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America is expected to hold the largest share of the global Vitamin & Mineral Premixes market during the projected period.
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North America holds the largest market share in the global vitamin & mineral premixes market. The North American market for vitamin and mineral premixes is driven by the growing demand for dietary supplements and functional foods. The United States is a major market in the region due to the increasing health consciousness among consumers. The North American market is mainly attributed to a rise in demand for healthy food products and functional foods and beverages, due to the low level of exposure to necessary minerals caused by their busy lifestyles and high consumption of processed and convenience foods. Obesity, heart disease, and other health issues have increased the demand for high-nutrition dietary products. Vitamin and mineral premixes have found their way into a variety of new product applications, including cereal-based products, dairy products, nutritional foods, beverages, infant formulas, and dietary supplements.
The Asia-Pacific region is expected to grow at the fastest rate in the coming years, driven by the increasing demand for vitamin & mineral premixes in countries such as China and India, which have large populations and are experiencing rapid economic growth. The growth in business corporations, rapidly growing economies such as China and India, and a health-conscious nation will propel the consumption of vitamin & mineral premixes in the coming years
The report offers the appropriate analysis of the key organizations/companies involved within the global vitamin & mineral premixes market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- BASF SE
- Innov Ad NV/SA
- Jubilant Ingrevia Limited
- Gk Biochemical Corporation
- Advanced Animal Nutrition Pty Ltd.
- Credence Remedies Pvt. Ltd.
- Gold Fin International
- Companies studied
- Glanbia plc
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In June 2022, DSM introduced the world's first bio-based Vitamin A, which has a wide range of applications in cosmetics and personal care products. This is consistent with DSM's goal of making its products carbon-neutral by 2050.
- In April 2021, Corbion, which manufactures PURAMEX, a natural lactate mineral used to improve the nutritional content of dairy products, has announced an increase in lactate mineral production capacity. This project contributes to improving the supply of lactic acid for its European customers.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Vitamin & Mineral Premixes Market based on the below-mentioned segments:
Global Vitamin & Mineral Premixes Market, By Type
- Vitamin & Mineral Combinations
Global Vitamin & Mineral Premixes Market, By Form
Global Vitamin & Mineral Premixes Market, By Application
- Food & Beverages
- Cosmetics & Personal Care
Global Vitamin & Mineral Premixes Market, By Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa.
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