Dublin, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The "Vitamin & Mineral Premixes Market by Type (Vitamins, Minerals, Vitamin & Mineral Combinations), Application (Food & Beverages, Feed, Healthcare, and Cosmetics & Personal Care), Form (Dry and Liquid), Functionality and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
According to the publisher, 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. 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, the vitamin segment is expected to retain its position as the dominant segment over the forecast period.
Based on type, the vitamin 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, the dry segment occupies the largest market share during the 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, the feed segment is forecasted to account for the dominant segment during the 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 the dominant market share of the vitamin and mineral premixes market during the 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 levels 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.
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)
Market Dynamics
Drivers
- Growth in Demand for Functional and Fortified Food
- Rising Need for Food Enrichment
- Increase in Compound Feed Consumption
- Growing Demand for Customized Premixes
- Rising Need for Ease of Blending Nutrients
Restraints
- High Costs Involved in R&D Activities
- Customer Unwillingness to Buy Expensive Fortified Food Products
- Stringent Policies Regarding Feed Fortification
Opportunities
- Growing Consumer Inclination Toward Healthy Food
- Emergence of Emerging Economies as Major Consumers of Feed
Challenges
- Inaccurate Labeling of Food Products
- Lack of Awareness Regarding Benefits of Premixes
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Vitamin & Mineral Premixes Market, by Application
8 Vitamin & Mineral Premixes Market, by Form
9 Vitamin & Mineral Premixes Market, by Functionality
10 Vitamin & Mineral Premixes Market, by Type
11 Vitamin & Mineral Premixes Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Adjacent and Related Markets
15 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/6tedqj-and?w=12
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