The vitamin & 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, during the forecast period. The growth of this market is attributed to the growing demand for fortified food & beverage products, the rise in consumption of compound feed, the growing need for food enrichment due to high processing levels of food products, and customized nature & specificity to individual customer requirements.
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what is vitamin & mineral premixes?
Vitamin and mineral premixes are blends of essential vitamins, minerals, and sometimes other nutrients. These premixes are created in specific ratios and concentrations to be added to food, beverages, animal feed, or supplements. They ensure that the final product contains accurate and consistent amounts of these nutrients, promoting health and meeting nutritional requirements. Premixes are used in various industries to fortify and enrich products, contributing to overall health and well-being.
Vitamin & Mineral Premixes Market Growth Drivers:
Rising Consumer Awareness: Growing awareness among consumers regarding the importance of a balanced and nutritious diet is a significant driver. As people become more conscious of their health and well-being, there is an increased demand for food and beverage products enriched with essential vitamins and minerals.Prevalence of Micronutrient Deficiencies: Micronutrient deficiencies are a global health concern, and many regions experience inadequate intake of essential vitamins and minerals. This has led to a surge in the demand for fortified food products and, consequently, vitamin and mineral premixes.Functional Foods and Beverages Trend: The increasing popularity of functional foods and beverages that offer health benefits beyond basic nutrition is fueling the demand for premixes. Consumers are actively seeking products that not only satisfy their hunger but also contribute to their overall health and wellness.Growing Aging Population: The aging population is more prone to nutritional deficiencies and health issues, driving the demand for dietary supplements and fortified foods. Vitamin and mineral premixes play a crucial role in formulating products targeted at this demographic to address specific health needs.Expansion in Food and Beverage Industry: The overall growth of the food and beverage industry, including sectors like bakery, dairy, and beverages, contributes to the increased adoption of premixes. Food manufacturers are incorporating these premixes to enhance the nutritional value of their products and meet consumer demands for healthier options.Government Initiatives and Regulations: Government initiatives promoting food fortification to address public health concerns have propelled the market. Regulatory measures mandating the addition of specific nutrients to staple foods have also played a role in boosting the use of vitamin and mineral premixes.
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.
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).
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