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, with a CAGR of 6.4%, in terms of value, between 2022 and 2027.
New York, Jan. 23, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Vitamin & Mineral Premixes Market by Type, Application, Form, Functionality and Region – Global Forecast to 2027” –
The market is gaining momentum as fishmeal & fish oil continue to find increased applications across food and beverages, healthcare, feed, cosmetics and personal care applications. The demand for vitamins and minerals premixes is gaining significant traction in the industry, especially due to the growth in demand for functional and fortified foods combined with the need for food enrichment due to high processing levels of food products. Additionally, the increase in compound feed consumption for the growth and development of farm animals has also enabled the growth of feed premixes.
• By type, vitamins segment is expected to retain its position as dominant segment over forecast period.
Based on type, the vitamins segment is likely to account for the dominant segment over the forecast period.Food products, such as dairy-based beverages, bakery products, and flours, are increasingly fortified with different types of B vitamins to enhance their nutritive values.
The wide availability of vitamins and the awareness among consumers regarding their benefits are expected to provide significant business opportunities to the vitamin and mineral premixes market over the forecasted period.
• By form, dry segment occupies largest market share during forecast period.
Based on form, the dry segment accounted for the largest market share among all other segments.Pharmaceutical and personal care companies widely use premixes in dry form for manufacturing many products, such as tablets, capsules, toothpaste, and others.
The wide usage and the convenient packaging in the dry form will continue to present significant growth opportunities over the forecast period.
• By application, feed segment is forecasted to account for dominant segment during forecast period
Based on application, the feed segment is likely to dominate over the forecast period owing to the significant growth of consumer awareness regarding pet nutrition, which has led to the demand for specialty nutrition and condition-specific pet health formulas as vitamins and minerals premixes for feed applications.These premixes are useful in regulating the biological process of growth and reproduction in the animal body and help in bodybuilding.
All of this contributes to the growth of the feed segment.
North America accounts for dominant market share of vitamin and mineral premixes market during forecast period
North America is expected to retain its position as the dominant region for the vitamin and mineral premixes market during the forecast period.The region’s large market share is attributed to a variety of reasons, such as the prominent meat and poultry industry and rising level of awareness for healthy foods and functional foods and beverages.
The region’s growth has also been bolstered due to the rise in incidences of obesity, heart diseases, and other health issues.
Break-up of Primaries
• By Company Type: Tier 1 – 25%, Tier 2 – 45% and Tier 3 – 30%
• By Designation: Manager- 35%, CXOs– 35%, and Executives – 30%
• By Region: Asia Pacific – 25%, Europe – 30%, North America- 35%, and RoW- 10%
Leading players profiled in this report include,
• DSM (Netherlands)
• Corbion (Netherlands)
• Glanbia Plc (Ireland)
• Vitablend Nederland BV (Netherlands)
• Sternvitamin Gmbh & Co. KG (Germany)
• BASF SE (Germany)
• ADM (US)
• Wright Enrichment Inc (US)
• Zagro (Singapore)
• Nutreco /(Netherlands)
Research Coverage:
This report segments the vitamins and mineral premixes market on the basis of type, application, form, and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, pricing insights, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the vitamin and mineral premixes market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
• To get a comprehensive overview of the vitamin and mineral premixes market
• To gain wide-ranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them
• To gain insights into the major countries/regions in which the vitamin and mineral premixes market is flourishing
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