Vitamin and Mineral Premixes Market Overview
The Vitamin and Mineral Premixes Market was valued at USD 6.59 Billion in 2022 and is projected to reach USD 1.5 Billion by 2030. The market will be growing at a CAGR of 5.2% in terms of value. The market will reach 1,615.76 KT in terms of volume by 2030.
Vitamin and mineral premixes are considered dry or liquid custom blends of a wide range of vitamins, minerals, or combinations of vitamins and minerals that are used in food and beverage, animal feed, healthcare, and personal care applications for enrichment or fortification purposes to enhance the nutritional value of the products. The growth of the Vitamin and Mineral Premixes Market overview 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 and specificity of individual customer requirements.
Based on type, the vitamin & mineral combinations segment of the market dominated the global market in 2022, globally, followed by vitamin premixes. The food and feed manufacturers’ inclination toward premixes inclusive of all the essential vitamins and minerals, as opposed to opting for various vitamin & mineral premix products, drive the market for vitamin & mineral combinations. The segment will emerge as the fastest-growing during the forecast period.
Key players
The vitamin and mineral premixes market is reportedly highly fragmented, with leading companies accounting for only 15%–20% of the market growth. The global market report qualitatively analyzes the prominent market players and their preferred development strategies. Key players in the market are mentioned as follows:
● DSM (Netherlands)
● Bar-Magen (Israel)
● Corbion (Netherlands)
● Nutreco (Netherlands)
● Burkmann Industries (US)
● The Wright Group (US)
● Farbest-Tallman Foods Corporation (US)
● Zagro Asia (Singapore)
Market Segmentation
The global vitamin and mineral premixes market overview have the following functional segments:
By Vitamins:
● Vitamins
● Minerals
● Mineral blends
By Application:
● Food and Beverage industry
● Animal feed industry
● Healthcare industry
By Region:
● North America
● APAC
● Europe
● RoW
Regional Analysis
The Asia Pacific region has dominated the vitamin and mineral premixes market and is projected to grow significantly from 2021 to 2030 in both value and volume. The Chinese region is projected to be the fastest-growing market in the region. China is emerging as one of the largest producers and consumers of feed globally, thus increasing the demand for different fortified feed additives and ingredients, which, in turn, drives the global expansion of the vitamin and mineral premixes market size.
Industry News
Vitamins and mineral premixes in the global vitamin and mineral premixes market are used as ingredients that combine micronutrients for food fortification. They contain vitamins or minerals or a precise blend of these two in a wide range of combinations to address the symptoms of micronutrient deficiencies in humans. Various populations in low- and middle-income countries tend to suffer from the hidden symptom of micronutrient deficiencies and inadequacies. The prevalence of these has also been found in developing nations due to a lack of awareness and prevalent eating habits. These are likely to have acted as a firm ground for promoting vitamin and mineral premixes.
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