Vitamin and mineral premixes are additives used to enhance the nutritional content of foods. The use of these blends in pharmaceuticals, health supplements, feed additives, and food products can create a high demand among consumers. The global Vitamin and Mineral Premixes Market is projected to showcase a strong CAGR from 2018 to 2023 (forecast period), as per the latest report by Market Research Future (MRFR).
Market Outlook
The global Vitamin and Mineral Premixes Market is likely to enjoy a stable growth till 2023 due to the trend of fortified foods. Need for dietary supplements by consumers and animals are likely to bolster market demand. Growing awareness among consumers and rising wave of health consciousness are factors which can spur the market growth.
Acquisitions are a common trend witnessed in the global market as major companies are looking to extend their product portfolio. In 2014, Glanbia acquired Isopure in 2014 to increase its offerings in sports nutrition, dairy ingredients, specialty non-dairy ingredients, and vitamin and mineral premixes.
Animal nutrition has a wide scope for expansion due to need for protein. Companies are investing in research and development to improve the nutritional content of feeds to improve the meat quality. Rebranding of products to attract farmers is likely to result in high earnings. This is exemplified by the strategy adopted by Neovia to rebrand its entire animal feed line to expand into unknown territories of Africa and Asia which can widen its global footprint.
Regional Analysis
On the basis of region, the global Vitamin and Mineral Premixes Market has been segmented by North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is expected to be the largest and fastest-growing vitamin and mineral premixes market due to the presence of key animal feed manufacturers in the region. Moreover, the prevalence of malnutrition has led a demand for fortified food products, offering opportunities to players in the global vitamin and mineral premixes market. Emerging markets such as China and India are projected to contribute to the growth of the regional vitamin and mineral premixes market.
The vitamin and mineral premixes market in North America is expected to grow substantially due to the increasing adoption of healthy diets and functional foods by the health-conscious population. In Europe, the increasing demand for functional beverages along with rising inclination toward dietary supplements is projected to boost the growth of the vitamin and mineral premixes market. The application of vitamin and mineral premixes in infant formula and healthcare supplements is expected to boost the growth of the market in the rest of the world.
Competitive Outlook
Prominent names include Chemische Fabrik Budenheim KG, Glanbia PLC, Nutreco NV, Vitablend Nederland BV, SternVitamin GmbH & Co. KG, Koninklijke DSM NV, Watson Inc., Farbest Brands, Wright Enrichment Inc., Corbion NV, and others. Investments, partnerships, agreements, and collaborations are strategies used by these players to gain a permanent foothold in the market.
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Segmentation
The global Vitamin and Mineral Premixes Market is segmented by type, form, and application.
By type, it is segmented into mineral, vitamin, and vitamin & mineral blends. The vitamin & mineral blends segment is touted to dominate till 2023 due to heavy demand for these blends among consumers and animal lovers. Differentiation in prices and nutritional content can drive the sales in the segment.
By form, it is segmented into powder and liquid. The powder segment can enjoy a steady growth till 2023 due to convenience of packaging enjoyed by manufacturers. In addition their steady nature as compared to liquid form is expected to bring in a huge windfall.
By application, it is segmented into healthcare, personal products, animal feed, and food & beverage. The healthcare segment is expected to be the biggest application of the vitamin and mineral premixes market due to the need for supplements by patients to amp up their immunity systems and animals for protection against chronic diseases. Animal feed, on the flip side, can enjoy a impressive growth due to nutritional benefits of these supplements. Awareness regarding pet nutrition and farm animal nutrition can be substantial for the segment’s growth till 2023.
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Vitamin and Mineral Supplement Market Insights 2019, Global and Chinese Scenario is a professional and in-depth study on the current state of the global Vitamin and Mineral Supplement industry with a focus on the Chinese market.
The report provides key statistics on the market status of the Vitamin and Mineral Supplement manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.Overall, the report provides an in-depth insight of 2014–2024 global and Chinese Vitamin and Mineral Supplement market covering all important parameters.The key ponits of the report:The report provides a basic overview of the industry including its definition, applications and manufacturing technology.The report explores the international and Chinese major industry players in detail.
In this part, the report presents the company profile, product specifications, capacity, production value, and 2014–2019 market shares for each company.Through the statistical analysis, the report depicts the global and Chinese total market of Vitamin and Mineral Supplement industry including capacity, production, production value, cost/profit, supply/demand and Chinese import/export.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.The report then estimates 2019–2024 market development trends of Vitamin and Mineral Supplement industry.
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